Sony Layoffs – Sony Corp (NYSE: SNE)
Source: http://fastswings.com/FastSwingscom/tabid/518/EntryId/1015/Sony-Layoffs-Sony-Corp-NYSE-SNE.aspxPosted on Tuesday, December 9th, 2008 | In Market Commentary, Stocks to Watch
Stock Movement
The stock of Sony (SNE) has recently begun to move higher and is higher on the day 5% with the announced costs reductions. The holiday season has traditionally been a period of profit for the company and could surprise investors if store sales are stronger than expected. But longer term the company needs to deal with reduced margins, falling demand, and improving its return on investment which fell to 8.6% last quarter.
Other Companies in the Chain
Japan, Taiwan, and South Korea are seeing similar issues in other areas of the supply chain for electronics. Memory chip makers have taken steps to reduce costs including laying-off temporary workers. Full time workers are less likely to be let go or they are let go quietly as social traditions frown on large terminations.
The Trade
The chart for Sony Corp stock has made a nice bottom formation which could inspire additional buying interest. In addition to the cost reductions action taken; the holiday season is a catalyst for a rally, the stock should move higher in the near term. But the fundamentals still look weak with revenue and earnings not rising at this time.
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Asia, Electronic Devices, electronics, google, Japan, Market Commentary, Sony Corp, Sony Layoffs - Sony Corp;, south korea, Stock Movement, Stocks to Watch, Supply Chain, Taiwan, Technology, USD
 About Steve Patterson (http://www.fastswings.com/)
Steve Patterson is a trained software engineer with an engineering degree in computer science and a MBA from Capital University in Columbus, Ohio. He has been an active trader of stocks and options for the past 10 years with a focus and technology and large cap stocks. In addition, he is the editor and one of a number of writers on several web based publications that he owns and operates. |
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