Cox Enterprises Buys Mobile Outfit Experience Wasserman Receives $100M Investment New York State OKs Lawsuit Against RBS Stats LLC Buys Bloomberg Sports FanDuel Closes $70M Round Of Venture Capital SeatGeek Closes On $35M In VC Financing Golf Sales Cut Into Dick's Profits ClubCorp Acquires Sequoia Golf For $265M Disney Posts Record Q3 Despite ESPN CDI Earns Record Quarterly Revenue
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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).