Shares of Int'l Speedway Corp. (ISC) "fell sharply"
yesterday, after the company issued fiscal second-quarter
earnings in line with analysts' estimates but "warned that
profit could trail Wall Street expectations in both the
third quarter and fiscal-year 2001," according to the WALL
STREET JOURNAL. ISC predicted the third-quarter drop due to
"lower-than-expected attendance" at the July 1 Pepsi 400.
It also said that "slower growth in ticket demand could
cause its 2001 results to fall six cents to eight cents
short of the First Call estimate of $1.72." ISC said that
net income for the second quarter ended May 31 was $3.7M, or
$0.07 a diluted share, compared with $6.8M, or $0.16 a year
earlier (WALL STREET JOURNAL, 7/12). Shares of ISC were
down 20% yesterday to close at $34.50 (THE DAILY).
NO LONGER LIVESOCCER: The WALL STREET JOURNAL
INTERACTIVE's David Sweet writes that LiveSoccer.com, a
seller of soccer gear, plans to "shut down once it sells its
inventory." President Ron Zighelboim said that new
financing "fell through after the market pullback in April."
The company was looking to raise $3M (WSJ.com, 7/12).
