Levy To Handle Concessions At IMS Suh Signs With CAA Sports' Sexton ESPN Launches Wimbledon Poster Contest Organizers Up Security For L.A. Marathon MLS To Start Season With Replacement Refs Maryland Set For Final ACC Home Game Wolff Considering Temporary Bay Area Ballpark Classified Advertisements Famed MLB Surgeon Frank Jobe Dies At 88 U.S. World Cup Tune-Up A Coup For Jacksonville
UBS Securities analyst Ed Hatch lowered his earnings estimate for Disney stock from $3.15 to $2.96. Merrill Lynch's Jessica Reif cut her profit forecast from $3.10 to $3. The analysts' "shift" has pushed Disney's stock price down $5 since last week. The stock closed yesterday up $1 to $109.75. In N.Y., Phyllis Furman writes, "Despite the downgrades, analysts said yesterday that Disney remains one of the premier entertainment companies whose earnings should grow by at least 16% this year" (N.Y. DAILY NEWS, 6/24). ...SportSite.com, an online sporting goods store, has closed a $5M financing round with venture capital firms J.H. Whitney and Draper Fisher Jurvetson (SportSite.com).
CO-based Schwinn Holdings Corp. announced plans to acquire CA-based GT Bicycles in a deal valued at "about" $180M. Schwinn, a privately-owned company, said it will pay $8 a share for GT's 10 million shares of outstanding common stock, as well as assume $100M of GT's debt. On Monday, GT shares were up $2.375, closing at $7.125 per share on the NASDAQ. GT makes off-road mountain bikes and BMX bikes for young adults (DENVER POST, 6/23). Together, Schwinn and GT "will rival Trek as the largest U.S. bike maker to sell through independent dealers" (DENVER POST, 6/23).