Acushnet Reportedly Prepping For IPO MP & Silva Sells Controlling Stake Judge OKs Sports Authority Sales Plan StubHub Parent Company Buys Ticketbis Dick's To Bid For Closing Sports Authorities Liquidators Win Sports Authority Asset Auction Disney Shares Fall, Drag Down Other Entertainment Stocks Disney Shares Slide After Q2 Earnings Report Adidas Plans To Sell Most Of Golf Division Sports Authority Still Looking For Buyers
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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).