May 14, 2008- Sony (SNE) opened eyes this morning. According to Bloomberg, the world's second-largest consumer electronics maker said operating income would rise 20% due in part to the popularity of PlayStation 3 consoles. Sony said its games unit would post its first annual profit in three years compared with analyst expectations of a 40 bln yen loss. The company also beat estimates for 4Q with EPS of $0.28 vs. $0.15 consensus. Revenues rose 10.3% year-over-year to $19.53 bln vs. $19.22 bln cons. Also helping the company's outlook were a boost in sales of digital cameras and flat screen TVs.
From the Bull Pen
For those bullish on Sony; sell-stops can be placed below $45 or $43 for those with a larger risk profile.
http://astuk-virtuallystocks.blogspot.com/
$46.02 (03/03/08)
