Stringer's honeymoon over as investors dump Sony shares
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Howard Stringer's honeymoon as the first foreign head of Sony has come to an abrupt end as investors dump the company's shares amid a battery defect crisis and fears its PlayStation 3 may fail to meet sky-high expectations.
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Just three months ago, investors of technology stocks watched values plummet after some 20 software companies warned Wall Street that sales would remain lackluster in what turned out to be a brutal second quarter.
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Leading shares closed lower after Marks and Spencer lost nearly 20 percent of its value after revealing it had endured its worst quarterly performance in several years, while BP was on the back foot after analysts slashed forecasts.
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Blog: The recent stories like this one out of the Sony camp are becoming pathetic at best.  The company who formerly touted its dominance over the video game industry is left touting a 50,000 unit sale for March and a sales lead "for every week, except for the
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NEW YORK (Kyodo) A group of investors led by Sony Corp. said Thursday it has finalized a $4.9 billion acquisition deal with Hollywood film studio Metro-Goldwyn-Mayer Inc.
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TOKYO -- Just when Sony appears to have turned around its electronics business, another part of its sprawling empire _ video games _ is dragging down profits.
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Shares of Applied Digital Solutions and its publicly traded subsidiary, VeriChip, fell as investors reacted to a report over the weekend linking the tiny radio device to cancer.
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Perks have been gradually disappearing for investors.
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Investors dumped shares of Pfizer Inc. today in response to the drug giant's weekend announcement that it has halted development of a potential blockbuster cholesterol treatment.
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Shares of Applied Digital Solutions and its publicly traded subsidiary, VeriChip, fell as investors reacted to a report this weekend linking the tiny radio device to cancer.
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Japanese electronics conglomerate Sony  Corp. posted a 13 percent drop in quarterly profit on Thursday  due to sliding prices of TVs, DVD recorders and video cameras,  compounded by its failure to overtake Apple Computer's iPod in  the portable audio market.
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Business & money: Deal forced to be scrapped as the fallout from the sub-prime markets continues to spread
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US stocks finished a tumultuous year lower on Monday, amid thin volume, as investors digested fresh data on the housing market.
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Sony Corp. 6758.T shares fell as much   as 2.6 percent on Thursday, hit by another delay in the launch   of its PlayStation 3 game console, but outperformed sector   peers and the broader market by the end of the day as investors   weigh the likely impact of the delay.
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THE Australian market was dragged down by a sharp drop in insurance giant Axa Asia Pacific Holdings to close lower yesterday. The benchmark S&amp;P/ASX 200 index finished 10.
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The Nikkei lost 1 percent on Thursday as  stocks such as Matsushita Electric Industrial Co. fell after  disappointing earnings at U.S. firms, while Sony Corp. issued a  profit warning after the close.
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They hoped to cash in. Now they're stuck holding loads of hardware after sagging demand guts aftermarket values. In Game|Life.