MJ's Son Partners With Tech Startup WaitTime Nike Posts Solid Q3 Amid Adidas Resurgence GoPro To Cut 270 Full-Time Jobs Dodgers Owner Leads $100M DraftKings Investment Adidas' CCM Hockey Brand Up For Sale Again Dick's Ed Stack Outlines Plan To Grow Market Share SMI's Total Revenue For FY '16 Up 3% Churchill Downs Inc. Net Income Of $108.1M In '16 Sources: Adidas Struggles With TaylorMade Sale Minute Media Closes On $15M Investment Round
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).