Disney's Q2 Income Up Despite ESPN Losses Adidas' Net Profits Rise In Q1 Stats LLC Acquires U.K.-Based Prozone Aussie Social Media Company Buys Into BigTeams Callaway Profits Beat Q1 Expectations Under Armour Profit Down In Q1 Dick's Takes Prudent Approach To Financial Future ISC Revenues Up For Q1 Of '15 ESPN Agrees To Buy DraftKings Stake SeatGeek Closes Latest Round Of Venture Financing
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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).