MSG Confirms Plans To Split In Two Asics America Enjoys Strong '14 Adidas Aims To Grow Profits By 15% Annually Norman's Company Opens Investment Arm Wilson Purchases Louisville Slugger FIFA Makes Record Revenue Of $2B TLA Worldwide Acquires Elite Sports Properties Mobile Fantasy Company Closes VC Funding Discovery, Liberty Get Formula E Stake SMI's Admission Revenue Down 5% in '14
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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).