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Finish Line Inc. took defensive measures to prevent a possible takeover as the company lowered its annual financial targets and guided that it would earn its smallest profit since 2009 in its current fiscal year. Shares, already down 45% this year, fell 24% to $7.95 in extended trading on Monday as the footwear retailer said it expects sales at stores open at least a year to decline between 3% and 5%, compared with previous guidance of a low single-digit percentage gain. The Indianapolis company's board approved a so-called shareholders-rights plan aimed at blocking any individual stockholder from owning more... [Read More]
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