TOKYO (Reuters) - Sony Corp shed more than 7 percent to hit a near 32-year low on Friday, a day after it posted a record annual loss of $5.7 billion and failed to convince investors that it has a sound strategy to turn around its loss-making TV business and boost smartphone sales.
Sony Corp shed more than 7 percent to hit a near 32-year low on Friday, a day after it posted a record annual loss of $5.7 billion and failed to convince investors that it has a sound strategy to turn ...
As reported earlier, at least one prominent hedge fund manager, Dan Loeb, is very bullish on Sony (or at least has played his cards well enough to buy the stock 50% lower and is using today's ramp to offload to unwitting momentum chasers as he did with Herbalife). Whether he is merely using the opportunity to earn some activism brownie points on the background of the overall levitation of the Japanese stock market, or is genuinely convinced there is upside for Sony remains to be seen.
SEOUL (Reuters) - Samsung Electronics Co lost $12 billion in market value on Friday, hit by brokerage downgrades that have underscored concerns about slowing sales of its flagship Galaxy S4 smartphone.
TOKYO (Reuters) - A New York-based hedge fund with a reputation as an activist investor has proposed that Sony Corp spin off its entertainment division via an IPO, saying the move could boost the Japanese electronics firm's shares by as much as 60 percent.
Alcatel-Lucent CEO Verwaayen stepping down as group sinks to hefty 2012 loss PARIS (AP) — Alcatel-Lucent CEO Ben Verwaayen is leaving the loss-making French-U.S. telecommunications gear maker after a failed four-year bid to turn the business around.
TOKYO (Reuters) - Sony Corp shares fell nearly 7 percent in their biggest tumble in a year after the electronics maker disappointed investors with a cautious forecast and worries mounted the euro could dull the pace of its recovery.
TOKYO (Reuters) - Sony Corp's shares tumbled 13 percent to a 13-year low on Friday after the electronics maker halved its profit forecast, as the credit crisis hurts demand for its cameras and flat TVs and drives up the yen.