Dalian Wanda Buys Ironman For $650M NYRA's Operating Loss Spikes Despite Triple Crown IMG College Buys TopShelf For Hospitality Adidas Seeking Buyer For Golf Brands Adidas Could Spin Off Golf Unit ESPN Concerns Still Affecting Disney Shares Adidas Buys Fitness App Runtastic For $239M Chime Sold To WPP, Providence Equity Callaway Golf Reports Mixed Q2 Results CDI Reports Record Quarterly Revenue
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).