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Stock Market & Financial Investment News

News Breaks
February 14, 2014
06:28 EDTSNES&P cuts ratings on Sony to BBB-; outlook negative
Standard & Poor's Ratings Services lowered to 'BBB-' from 'BBB' its long-term corporate credit ratings on Sony Corp. and subsidiary Sony Global Treasury Services PLC and its senior unsecured debt ratings on Sony Corp. It also lowered its short-term corporate credit ratings on the companies to 'A-3' from 'A-2'. S&P says "We lowered the ratings because intensified competition has eroded Sony's competitive position in the electronics business, recovery in earnings is slower than we assumed, and profitability is unlikely to improve materially even with further restructuring of Sony's business, in our view. In addition, we believe the slow pace of recovery in earnings will further delay recovery of its financial standing. In our assessment of Sony, we exclude its financial service business. The outlook on the long-term corporate credit ratings is negative. We could lower the ratings further if Sony's earnings and profitability do not recover and stabilize even with further restructuring efforts or if measures of the company's financial performance become unlikely to recover."
News For SNE From The Last 14 Days
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April 1, 2015
06:31 EDTSNESony cuts stake in Olympus, Reuters reports
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March 31, 2015
13:29 EDTSNEAcacia subsidiaries enter into patent license agreements with Sony Mobile
Acacia Research (ACTG) announced that its Saint Lawrence Communications LLC and Saint Lawrence Communications GmbH subsidiaries have entered into patent license agreements with Sony (SNE) Mobile Communications.
11:49 EDTSNEFTC approves orders settling charges of false advertising by Sony for PS Vita
The FTC has approved two final orders settling charges that Sony Computer Entertainment America and its advertising agency at the time falsely advertised certain capabilities of the company’s PlayStation Vita handheld gaming console. According to the complaints, announced jointly in November 2014, Sony deceived consumers with false advertising claims about several “game changing” technological features of the PS Vita in late 2011 and early 2012. The Commission alleged that Deutsch LA, Sony’s advertising agency for the PS Vita launch, knew or should have known that the advertisements it produced contained misleading claims about the console’s capabilities. The FTC also alleged that Deutsch LA misled consumers by urging its employees to create awareness and excitement about the PS Vita on Twitter, without instructing them to disclose their connection to the advertising agency or its then-client Sony. Under the order, Sony will provide consumers who bought a PS Vita gaming console before June 1, 2012, either a $25 cash or credit refund, or a $50 merchandise voucher for select video games, and/or services. The FTC’s order with Deutsch LA bars it from making similar misrepresentations as Sony, and bars misrepresentations that an endorser of any game console product or video game product is an independent user or ordinary consumer of the product. It also requires the agency to disclose a material connection, where one exists, between any endorser of a game console product or video game product and Deutsch LA or other entity involved in the manufacture or marketing of the product. Reference Link
06:00 EDTSNESony Mobile to ship 38M smartphones in FY15, DigiTimes reports
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March 30, 2015
07:53 EDTSNEAlibaba signs digital music distribution deal for China with BMG, WSJ reports
Alibaba (BABA) will become an exclusive online distributor of BMG’s music and artists in China under a new digital music distribution deal, The Wall Street Journal reports. The partnership with BMG follows similar deals in China last year between Tencent (TCEHY) and music companies like Sony's (SNE) Sony Music Entertainment and Warner Music Group. Reference Link
March 26, 2015
06:32 EDTSNEGameStop pre-owned sales may see boost in Thursday earnings release, WSJ says
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March 25, 2015
05:52 EDTSNEFoxconn to set up India production lines to respond to Sony demand, DigiTimes says
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March 23, 2015
06:00 EDTSNESony to reduce TV, smartphone orders to Taiwan partners, DigiTimes reports
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March 20, 2015
06:36 EDTSNEWeb TV companies ask internet providers for special treatment, WSJ says
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06:06 EDTSNESony Mobile expected to reach revised smartphone shipment target, DigiTimes says
Sony Mobile said its Q4 smartphone shipments increased 20.2% sequentially to 11.9M units, reports DigiTimes. According to Taiwan-based hanset component suppliers, Sony Mobile is expected ship over 8M smartphones in the first calendar quarter of 2015, allowing the vendor to reach its revised target of 39.2M units for FY14. Reference Link

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