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Strategies & Market Trends : Making Money is Main Objective

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To: Londo who wrote (568)	1/22/2001 4:43:07 PM
From: Softechie	of 2155

Warnaco Shares Soar Following Settlement With Calvin Klein By Erica M. Berardi Editorial Assistant 1/22/01 2:36 PM ET Shares of Warnaco (WAC :NYSE - news) rocketed Monday afternoon after Calvin Klein announced it was dropping a trade infringement lawsuit against the clothing manufacturer and its CEO, Linda Wachner. In midafternoon trading on the New York Stock Exchange, Warnaco shares were up $1, or 40%, to $3.50. According to published reports, the settlement came minutes before a judge was to begin selecting jurors for Calvin Klein's suit against Warnaco, which sells its apparel under a variety of internationally owned and licensed brand names, including Calvin Klein. While the companies released a joint statement of continued partnership, details of the agreement were not made public. In May, Calvin Klein sued Warnaco and Wachner, alleging the manufacturer violated terms of a jeans licensing agreement and accusing Warnaco of damaging the brand by selling jeans to discount outlets without permission.

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