Adidas Raises Outlook After Exceeding Targets Disney's Iger Argues Again For ESPN Fox Marks Down Investment In DraftKings Sources: Sports Authority Preps For Bankruptcy Sports Authority Cuts Around 100 Jobs Connected Fitness Helps Under Armour Stock Under Armour Sees 20% Profit Jump In Q4 E-Sports Startup FaceIt Raises $15M Ironman Acquires Lagardère S&E's Endurance Unit Infront Acquires Controlling Interest In Omnigon
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).