|Bid||55.35 x 0|
|Ask||55.87 x 0|
|Day's range||55.04 - 55.04|
|52-week range||37.10 - 55.50|
|Beta (3Y monthly)||N/A|
|PE ratio (TTM)||N/A|
|Forward dividend & yield||N/A (N/A)|
|1y target est||N/A|
Sony Corp <6758.T> on Wednesday said operating profit jumped 16% in its strongest-ever result for a second quarter, as robust sales of image sensors offset a tumble in earnings from its gaming division. The results, which beat estimates, prompted the Japanese entertainment and electronics firm, to lift its full-year profit outlook although that still fell short of record levels attained last year. Demand for smartphone image sensors has grown as phone manufacturers introduce multiple-lens camera systems for high-end models - a key differentiator as improvements in other phone functions and features have slowed.
Sony Corp on Wednesday said operating profit jumped 16% in its strongest-ever result for a second quarter, as robust sales of image sensors offset a tumble in earnings from its gaming division. The results, which beat estimates, prompted the Japanese entertainment and electronics firm, to lift its full-year profit outlook although that still fell short of record levels attained last year. Demand for smartphone image sensors has grown as phone manufacturers introduce multiple-lens camera systems for high-end models - a key differentiator as improvements in other phone functions and features have slowed.
(Bloomberg) -- Third Point confirmed it holds a stake in Ray-Ban maker EssilorLuxottica SA Thursday and said it was disappointed that Sony Corp. has snubbed its suggestions to break up.The New York hedge fund run by Dan Loeb purchased a $700 million stake in EssilorLuxottica in early 2019 and said it sees considerable growth potential in the world’s largest eye-care company, according to its third-quarter investor letter."EssilorLuxottica has many of the key characteristics we look for in an investment: compelling end-market growth in a defensive category, strong market share, high returns on invested capital, potential for incremental capital deployment, and competitive moats created by brands and technology," it said.The merger that created the company last year -- France’s Essilor International SA’s pairing with Italian counterpart Luxottica Group SpA -- has the potential to create more than 1 billion euros ($1.1 billion) in profit, Third Point said.The company has been plagued by a power struggle since the deal was announced in 2017. Under the terms of the merger, both companies would have equal representation on the board until its 2021 annual general meeting.“A deadlocked board and management team has slowed integration and strategic decision making,” Third Point said. “Despite its many advantages, EssilorLuxottica is losing favor among shareholders who are frustrated by the lack of synergy realization.”A fragmented market combined with EssilorLuxottica’s clean balance sheet opens the opportunity for further consolidation, Third Point said. But it plans to push the company to resolve its governance issues, as first reported by Bloomberg News last month.Sony ReviewThird Point said it was disappointed with the outcome of Sony’s review of operations in September, which it undertook after the firm disclosed a $1.5 billion stake in the Japanese technology giant.Loeb had pushed Sony to spin off its semiconductor unit, sell its insurance operation and focus on its main entertainment business. Chips are key to growth and the insurance business will enhance the company’s value, Sony Chief Executive Officer Kenichiro Yoshida said in a letter filed to the Tokyo stock exchange last month.“Sony revealed that the review’s conclusion was to maintain the status quo with no concrete proposals to improve the business,” Third Point said. “It is difficult for us to imagine that a company of Sony’s size and complexity could not find a single concrete action to improve its business and valuation.”Third Point said it plans to continue to talk with management constructively about ways to improve value.Argentina BondsThird Point’s Offshore Fund fund lost 0.2% on its investments in the third quarter, primarily from a bet on sovereign bonds in Argentina. While Third Point expected President Mauricio Macri to lose in primary elections in August, it hadn’t anticipated the size of his loss.The results spurred an unprecedented slide in Argentinian bonds and other assets.Despite the difficulties, Third Point said it had returned 12.7% in in the quarter, buoyed by investments in Baxter International Inc., Nestlé SA, Sony, Campbell Soup Co., Sotheby’s, United Technologies Corp. and a distressed-credit position in PG&E Corp.To contact the reporter on this story: Scott Deveau in New York at email@example.comTo contact the editors responsible for this story: Liana Baker at firstname.lastname@example.org, Matthew MonksFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
The 2020 holiday season will mark the onset of the next generation of console wars. According to Sony, that's when it will launch the PlayStation 5.
The cloud gaming war is imminent, and Sony is making its final moves in preparation. It's slashed the price of its Playstation Now subscription by half.
Sony Corp said on Tuesday it was rejecting a call by Daniel Loeb's activist hedge fund Third Point LLC to spin-off its chips business, saying that the business is "a crucial growth driver" for the Japanese company. The rejection comes just weeks after Sony sold its 5% stake in Olympus Corp back to the Japanese medical equipment maker, a move also called for by Loeb, one of the world's highest-profile activist investors. Sony said staying within the group would help the chips business enhance its competitiveness as it aimed to combine sensors with artificial intelligence for use in autonomous driving, games and advanced medicine.
IBM is out with its newest mainframe - z15. Yahoo Finance sat down with Tom Rosamilia, the Senior Vice President of IBM Systems and Chairman of IBM North America to hear how it'll change the industry.
Sony Corp is selling its 5% stake in Olympus Corp back to the Japanese medical equipment maker for 80.4 billion yen (£621.3 million), a move that Daniel Loeb's activist hedge fund Third Point LLC had called for. This is the first strategic move Sony has made that is in line with U.S.-based Third Point's proposals since Loeb, one of the world's highest-profile activist investors, revealed earlier this year he was building a stake again in the company. A Sony spokeswoman said the sale was not in response to demand by specific shareholders, adding that the company is still reviewing Third Point's proposals.
Sony announced two new APS-C mirrorless interchangeable lens cameras at a special event in New York today, and the announcements are big news for anyone who's looking for a small, capable camera that can handle everything from sport shooting to vlogging. The new a6600 flagship takes everything that is great about the a6400 it introduced earlier this year and adds a big battery boost, in-body stabilization, a headphone jack and real-time eye autofocus for video. None of that is in any way a criticism, however -- these were all excellent specs when they debuted on the a6400 earlier this year, and they'll serve a6600 owners just as well.
Fans are disappointed by Spidey's departure from Disney's MCU, but it looks like a smart move for Sony.
Investing.com - Shares of GameStop (NYSE:GME) surged in midday trade on Thursday after Barron’s reported that investor Michael Burry is long on the stock.
Sep.17 -- Sony Corp. plans to hold on to its semiconductor and financial services operations, rebuffing a series of proposals from American activist investor Dan Loeb, whose activist fund, Third Point LLC, disclosed a $1.5 billion stake in the Japanese company. Vlad Savov reports on "Bloomberg Daybreak: Asia."