Minute Media Closes On $15M Investment Round ESPN Still Hurting Disney Quarterly Results Under Armour's Kevin Plank Defends Company MLB Postseason Boosts 21st Century Fox' Q2 Callaway Golf Posts Solid Financials Under Armour Posts Tepid Forecast For '17 No Bidders For Bauer Hockey's Parent Co. ISC Revenues Up For '16, Admissions Down StubHub Q4 Results Show 20% Jump From '15 Sports Owners Investing In Tech Startups
CART Shares Fall 13.9% To Hit 52-Week Low Amid News With ISL
Published January 18, 2001
Shares of CART fell 13.9% yesterday after A.G. Edwards "questioned the relationship" between CART and ISL Marketing, according to a report in REUTERS, which notes A.G. Edwards downgraded CART stock to "maintain" on Tuesday "due to uncertainty in regards to our ISL sponsorship guarantee." CART has a nine-year deal with ISL. The stock closed at $16.25, a new 52-week low. The previous low was $18.13. CART CEO Joseph Heitzler said: "Although we are in discussions with ISL, it is premature to comment on the outcome of these discussions or the effect of ISL's management changes and other sports property renegotiations on CART's revenues and marketing plans" (REUTERS, 1/17).