Sorry!! The article you are trying to read is not available now.
Thank you very much;
you're only a step away from
downloading your reports.

Two Ways: Sony Struggles


Strengthen your portfolio in good times and bad.


Sony's Perfect Storm

Sony (SNE) posted its first annual loss in 14 years, and didn't offer much hope for a quick turnaround in the months ahead. According to the New York Times, the Japanese consumer electronics company reported a loss of 165.1 billion yen for the quarter ending in March. This stands in contrast to a gain of 29 billion yen in the same period a year earlier.

Revenues on an annual basis fell 13% to 7.73 trillion yen due to the slowing economy and Japan's strengthened currency. Stiff competition has also taken its toll. Sony surrendered the lead in music players to Apple's (AAPL) iPod, and hasn't been able to seriously compete with the iPhone. Nintendo's (NTDOY) Wii has also been the dominant force in the gaming sector, beating out Sony's PlayStation 3.

Sony shares fell over 6% in Tokyo.

From the Bull Pen: For Japanese plays, we've talked about Toyota (TM). But the stock could find support near $72. Those playing the rebound can fade (read: buy) into that level with a sell stop below.

From the Bear Cave: Bears can look to AT&T (T). The stock hasn't been able to rally much with the rest of the equity markets and $25 support seems to be under assault. Those attempting the downside can place a buy stop 2% above entry.

Quick Check Around the World

Asian trading closed with the Hang Seng -3.04%, India -1.22%, Nikkei -2.64%, Shanghai -0.90% and Taiwan -1.87%.

Glancing towards Europe, we see the CAC -0.40%, DAX -0.69%, FTSE -0.01%

As of 8:20 AM EST, S&P Futures are trading -2 to 882.00, and Nasdaq futures are +1 to 1338.00.

A Look at Commodities

Over in commodities, crude oil is trading -0.91 to 57.11 while gold is -2.10 at 923.80 this morning. Silver is -0.185 to 13.83 and copper -5.20 to 198.50.

The dollar index is +0.2950 to 82.8650.

On the Radar


08:30 Core PPI 0.1%
08:30 Initial Claims
08:30 PPI 0.1%

Click here for the full trading radar.

Good luck!

Actionable ideas, instant analysis. Real-time from bell to bell.
Minyanville's Buzz & Banter - 14 day FREE trial

< Previous
  • 1
Next >
Position in AAPL

The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.

Copyright 2011 Minyanville Media, Inc. All Rights Reserved.

Featured Videos