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Sony shares slide 7 percent as earnings disappoint

Shares of Sony Corp fell nearly 7 percent on Friday after the electronics maker posted a surprisingly small rise in quarterly operating profit and cut its outlook on a fall in the value of securities and a firmer yen.

The earnings report prompted HSBC to cut its rating on Sony to "neutral" from "overweight", citing the risk that a weakening U.S. economy and the strengthening yen could sap future profits at the maker of PlayStation 3 game consoles and Vaio PCs

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stennexxx3551d ago (Edited 3551d ago )

I need to buy me some Sony stocks! Now that the gaming business is picking up the stocks should eventually bounce back. Since gas prices are so high less trips will be made to far places so more people are spending more time at home. That hopefully means for gaming a revenue boost as consumers need to be entertained at home. I believe Wall Street and the Feds will get the economy going eventually.

zambrota3551d ago

every big company had some form of dash today.

@1:40pm EST
SNE down 2.5%
MSFT down 6.5%

It is probably because of a weak US economy /exaggerated profit projections which were not reached.

expect both SONY and NS to jump up tomorrow

antoinetm3551d ago

i m glad i didnt invest in SNE back in december...

i think SNE is too correlated with the economy and the PS business is only a tiny fraction of their revenues.

Gamestop had quite a run tho (excluding 2008)

TheTwelve3551d ago

This is actually a very positive report.

12

3551d ago
zambrota3551d ago

It is not spiralling downward.
It just slid for one day which is OK since the profit margin didnt beat the profit expectations.

This is the Game Zone and no need top get agitated as the shares would jump up tomorrow/the day after for sure.

We all know you MR MARBLES. no need to make viloent remarks here. IT IS JUST FOR A DAY

Kyur4ThePain3551d ago (Edited 3551d ago )

SNE down 2.5%
MSFT down 6.5%
AAPL down 1.0%
NTDOY up 4.5%

And I own none of them, BTW.

*EDIT*
The weak $ is hurting most foreign businesses, though.
And I don't see it getting better soon.
Oh, and to the one that disagreed....those quotes were from CNNMoney.com. Not sure what you're disagreeing with.

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