Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 

4-Traders Homepage  >  Equities  >  Tokyo  >  Sony Corp    6758   JP3435000009

SONY CORP (6758)

SummaryChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector news 

U.S. Stocks Continue Slow Start

share with twitter share with LinkedIn share with facebook
share via e-mail
0
01/09/2014 | 12:56pm CEST

Stocks ended little changed, as investors showed reluctance to buy stocks until the market reestablishes the momentum that carried benchmarks to record highs last year.

The Dow Jones Industrial Average fell 17.89 points, or 0.1%, to close at 16444.76. The S&P 500 eked out just its second advance in six trading sessions this year, adding 0.64 point, or 0.1%, 1838.13.

The Nasdaq Composite Index shed 9.42 points, or 0.2%, to 4156.19.

Stocks have been slow out of the gate in 2014 after the S&P 500 posted a 29.6% gain last year, its best annual gain in 16 years. Recent declines in U.S. stocks have been modest, however, with the S&P 500 down 0.6% since capping last year with a record high.

"We've been pretty puzzled by the lack of enthusiasm at the beginning of this year," said Greg Peterson, director of investment research at Ballentine Partners, which oversees about $4.5 billion.

Mr. Peterson said his firm trimmed some of its U.S. stock holdings and bought shares from Europe and emerging markets at the end of last year, but still has outsize bets on U.S. stocks.

"People are very worried about the level of the markets, but if the economy strengthens and earnings meet expectations, then you have a setup for a pretty strong year again," he said.

Defensive stocks such as utility, health care and consumer staples led the way, while growth-sensitive technology and materials stocks lagged. Many of the market's recent highfliers, including Twitter and Tesla Motors, fell more than the broader market.

Agam Kothari, director of equity trading at Citigroup, said that many hedge funds got left behind early in the market's big rally last year and consistently bought stocks to catch up. So far in the new year, however, there has been less urgency to make big bets until a clearer direction is established, he said.

"There's no rush at this point," Mr. Kothari said. "There's no impetus to get involved and people are going to hang back until there's a firm tone."

Earnings reporting season unofficially started after Thursday's closing bell, when Alcoa posted fourth-quarter earnings growth that slightly missed expectations. The aluminum producer's stock fell 1.3% Thursday, then declined another 2.8% in after-hours trading.

Brian Lazorishak, portfolio manager and quantitative analyst at Chase Investment Counsel, which manages about $460 million in Charlottesville, Va., said he held onto his winning stocks through the end of last year, but now is watching for stocks to step back before adding to his positions.

"We'd welcome [a pullback] as a way to get into stocks at a cheaper level and scale back some of this short-term optimism a bit."

New unemployment claims declined by 15,000, slightly more than expected in the most recent week, according to the Labor Department.

Thursday's labor report is the second of three key readings this week and follows better-than-expected data on private-sector job growth on Wednesday. On Friday, a closely watched jobs report is expected to show nonfarm payrolls increased by 200,000 in December. The unemployment rate is expected to hold steady at 7%.

In Europe, the Stoxx Europe 600 gave up early gains to finish down 0.4%. The European Central Bank and Bank of England left benchmark interest rates unchanged, as expected, following better-than-expected sentiment data. ECB President Mario Draghi stressed that the central bank will remain accommodative for as long as necessary.

Asian markets fell, as investors expressed disappointment over Chinese inflation data. China's Shanghai Composite lost 0.8% to a 5 1/2-month low and Japan's Nikkei Stock Average slumped 1.5%.

The yield on the 10-year Treasury note fell to 2.964% from 2.991% late Wednesday.

February crude-oil futures fell 0.7% to $91.66 a barrel, while January gold futures added 0.23% to $1,229.30a troy ounce. The dollar rose versus the yen but fell against the euro.

Retailers were in focus after a string of earnings reports. Macy's rallied after the department-store operator said it would cut about 2,500 jobs, and close five stores, as part of a cost-cutting initiative aimed at saving about $100 million a year. Separately, Macy's said holiday same-store sales in November and December rose 3.6% above year-earlier levels.

Family Dollar Stores slid after lowering its full-year earnings expectations, as the discount retailer posted weaker first-quarter same-store sales and warned of continued revenue challenges in the new year.

L Brands fell after cutting its earnings guidance for the fiscal fourth-quarter as promotional activity led to lower-than-expected merchandise margins.

Bed Bath & Beyond declined after the home-furnishings retailer reported fiscal third-quarter earnings and revenue that fell shy of expectations. It also lowered its full-year earnings outlook, with gross margin narrowing and expenses increasing.

Write to Chris Dieterich at chris.dieterich@wsj.com

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on SONY CORP
11:02a SONY : profits down 74.3% to $204 million profit for April-June
09:53a UPDATE1 : Sony's April-June group net profit dives 74.3% after quakes hit output
09:13a Kyodo Top12 News
09:11a SONY : logs 42 percent plunge in first quarter operating profit on quake damage
09:05aDJSony Reports Surprise Profit
09:04a SONY : profit falls on yen, lagging cellphones, Japan quake
08:53a URGENT : Sony's group net profit dives 74.3% to 21.17 bil. yen in April-June
08:13a SONY : Urgent Headline News
07:41a SONY : Court ruling traps Kesha in record contract
01:17a Want a new console? They're coming
More news
Sector news : Household Electronics - NEC
07/27DJJapan Shares Rise on Stimulus Talk
07/25DJTesla Accelerates Work on Battery 'Gigafactory'
07/21DJSAMSUNG ELECTRONICS : China Urges U.S. to Hear Opinions in Anti-Dumping Duties o..
07/20DJU.S. to Charge Duties on Some LG, Samsung Washing Machines
07/20DJSAMSUNG ELECTRONICS : U.S. to Charge Duties on Some Samsung, LG Washing Machines..
More sector news : Household Electronics - NEC
News from SeekingAlpha
05:41a Sony reports FQ1 results
07/28 Notable earnings before Friday?s open
07/28 WALL STREET BREAKFAST : Crude Nears Fresh Bear Market
07/28 M&A roundup from across the globe
07/27 Watch Out KKR And Blackstone, Chinese Firms Are Reinventing The Private Equit..
Advertisement
Financials ( JPY)
Sales 2017 7 805 307 M
EBIT 2017 -
Net income 2017 106 287 M
Finance 2017 803 140 M
Yield 2017 0,77%
P/E ratio 2017 37,92
P/E ratio 2018 16,07
EV / Sales 2017 0,41x
EV / Sales 2018 0,38x
Capitalization 4 030 278 M
More Financials
Chart SONY CORP
Duration : Period :
Sony Corp Technical Analysis Chart | 6758 | JP3435000009 | 4-Traders
Full-screen chart
Technical analysis trends SONY CORP
Short TermMid-TermLong Term
TrendsBullishBullishNeutral
Technical analysis
Income Statement Evolution
More Financials
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 26
Average target price 3 710  JPY
Spread / Average Target 16%
Consensus details
EPS Revisions
More Estimates Revisions
Managers
NameTitle
Kazuo Hirai President, Chief Executive Officer & Director
Osamu Nagayama Chairman
Kanemitsu Anraku Independent Director
Takaaki Nimura Independent Director
Joichi Ito Independent Director
More about the company
Sector and Competitors
1st jan.Capitalization (M$)
SONY CORP7.91%38 896
PANASONIC CORPORATION-19.62%23 296
LG CORP--.--%9 956
LG ELECTRONICS INC.--.--%8 459
TCL CORPORATION--.--%6 392
CASIO COMPUTER CO LTD-46.37%3 970
More Results