Battle At Bristol Helps SMI's Q3 Earnings Kevin Plank Tries To Quash Investor Fears Under Armour Has Slowest Sales Growth In Six Years SeatGeek Sues ScoreBig For At Least $2M AT&T Reaches Deal To Acquire Time Warner For $85B Dick's Wins Auction For Golfsmith's U.S. Business StubHub Sees 32% Revenue Growth For Q3 AlphaDraft To End Paid Contests After Friday Upcoming IPO Will Value Acushnet At $1.7B Fed Reportedly Sees WME-UFC Deal As "Problematic"
Published June 24, 1998
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).