Reuters: The Senate is near its first vote on healthcare.
Reuters: Dell (NASDAQ:DELL) is betting on corporate spending for its recovery.
Reuters: Time Warner’s (NYSE:TWX) AOL showed that the worst is not over for media job cuts.
Reuters: China cyber-spying against the US will probably grow. Read More
Markets in Asia fell.
The Nikkei was down .5% to 9,498. Sony NYSE:SNE) fell after its investor meeting. Mitsubishi UFJ (NYSE:MTU) gained back some losses.
The Hang Seng fell .7% to 22,451.
The Shanghai Composite was down .4% to 3,308.
At the open in Europe, the FTSE was up .3% to 5,281. The Dax rose .5% to 5,727. The CAC 40 rose .4% to 3,775.
Data from Reuters and MarketWatch.
Douglas A. McIntyre
Reuters: Senate Democrats unveiled their healthcare plan.
Reuters: Hedge fund manage Griffin has rebounded from losses.
Reuters: GM must pay its debt and become profitable before an IPO.
Reuters: Kraft (NYSE:KFT) is still considered the front-runner to buy Cadbury. Read More
Markets in Asis were mixed.
The Nikkei fell 1.3% to 9,549. Mitsubishi UFJ (NYSE:MTU) fell. Honda (NYSE:HMC) and Toyota (NYSE:TM) fell. Sony (NYSE:SNE) was also off.
The Hang Seng dropped 1% to 22,643. China Mobile (NYSE:CHL) ticked up.
The Shanghai Composite rose .5% to 3,321.
At the open in Europe, the FTSE dropped .2%. The Dax was off .2% to 5,777. The CAC 40 dipped .2% to 3,320.
Data from Reuters and MarketWatch.
Douglas A. McIntyre
The management at Sony (NYSE:SNE) looks more and more like “The Gang That Couldn’t Shot Straight.” Its TV screen business is losing money. Most months, sales of the PS3 fall behind those of the Microsoft (NYSE:MSFT) Xbox 360 and Nintendo Wii.
Sony appears to have a promising new product in its Daily Edition Reader, the company’s e-reader offering. The device puts it into competition with market leader Amazon (NASDAQ:AMZN) and its popular Kindle, but Sony still have the consumer electronics brand power to give it a reasonable change to be a force in the e-book industry.
It would be nice if Sony could get its product out for the holidays. Read More
Reuters: Thain regrets nothing he did at Merrill Lynch and during its merger with Bank of America (NYSE:BAC).
Reuters: Trump put his support to the bondholders of his casino business.
FT: A Chinese court ruled against Microsoft (NASDAQ:MSFT) in an intellectual property case. Read More
Markets in Asia were mixed.
The Nikkei fell .6% to 9,730. Sony (NYSE:SNE) dropped.
The Hang Seng was down .1% to 22,914.
The Shanghai Composite rose .2% to 3,283.
At the open in Europe, the FTSE fell .5% to 5,357. The Dax dropped .3% to 5,789. The CAC 40 fell .4% to 3,648.
Data from Reuters and MarketWatch.
Douglas A. McIntyre
Sony (NYSE:SNE) expects its holiday sales to be poor. That is terrible news for the consumer electronics and PC industries. Sony is a nearly perfect proxy for those sectors. It sells PCs, video games, TV screens, and digital cameras. Many of Sony’s competitors will have to gird for another harsh holiday selling season, unless the forecast from the big Japanese firm is based on a large drop in market share across most of its businesses.
Sir Howard Stringer, Sony’s CEO, was quoted by Reuters as saying “There hasn’t been that turning point that many had hoped for. We are waiting for a signal that hasn’t arrived.” Read More
September sales for video game consoles were relatively good given the economy. Price cuts on the Nintendo Wii, Sony (NYSE:SNE) PS3, and Microsoft (NASDAQ:MSFT) Xbox stimulated activity. It appears that the initial surge in sales that those discounts caused is already over.
Video game sales, including consoles and games, fell 18% in October. Read More
The Holy Grail of consumer electronics is still a smashing success in the video game industry. Tens and tens of millions of Sony (NYSE:SNE) PS2s and PS3s were sold over the last decade. Microsoft (NASDAQ:MSFT) has turned its game console business into a real success. Nintendo has become the darling of the Japanese consumer electronics market because of huge sales of its portable DS and Wii consoles.
Apple (NASDAQ:AAPL) has done remarkably well in the computer, handset, and multimedia player sectors of electronics, but its has little or no place in the gaming industry. Read More
Reuters: Markets hit their 2009 highs.
Reuters: Dodd is set to unveil his financial reform bill which calls for merging many bank regulators.
Reuters: Kraft’s (NYSE:KFT) bid for Cadbury turned hostile.
Reuters: A survey of economists predicted strong GDP growth in 2010. Read More
Activision Blizzard (NASDAQ:ATVI) is about to release its “Call of Duty: Modern Warfare II: video game. Sales are expected to be half a billion dollars in the first week. That would make it the biggest entertainment product release of all time, topping even the most successful blockbuster movies.
According to the LA Times, “Activision is working with retailers to plan more than 10,000 midnight openings in the United States, including most of the 4,300 GameStop stores around the country.” Read More
Markets in Asia rose.
The Nikkei was up .7% to 9,790. Mitsubishi UFJ (NYSE:MTU) was down. Honda (NYSE:HMC) and Sony (NYSE:SNE) both gained.
The Hang Seng rose 1.6% to 21,830.
The Shanghai Composite was up .3% to 3,164.
Data from Reuters and MarketWatch.
Douglas A. McIntyre
Markets in Asia were mixed.
The Nikkei fell 1.3% to 9,747. Sony (NYSE:SNE) fell.
The Hang Seng was down .6% to 21,479.
The Shanghai Composite rose .7% to 3,156.
At the open in Europe, the FTSE was down .9% to 5,059. The Dax dropped 1.2% to 5,381. Deutsche Telekom (NYSE:DT) rose. The CAC 40 was off 1.1% to 3,631. BNP Paribas (NYSE:BNP) was up.
Data from Reuters and MarketWatch.
Douglas A. McIntyre
Markets in Asia rose modestly
The Nikkei was up .4% to 9,844. Sony (NYSE:SNE) fell.
The Hang Seng rose 1.8% to 21,815.
The Shanghai Composite was up .4% to 3,127.
At the open in Europe, the FTSE wsa up .6% to 5,058. The Dax rose 1% to 5,405. The CAC advanced .9% to 3,615.
Data from Reuters and MarketWatch.
Douglas A. McIntyre
Sony (NYSE:SNE) just announced its fourth consecutive quarterly loss. Part of that was due to red ink at its studio division. Its best chance for a blockbuster film in the current quarter is almost certainly the Michael Jackson rehearsal film “This Is It.” Jackson did not disappoint. Global ticket sales went above $100 million worldwide for the first five days after release.
The Jackson movie is only scheduled to be in theaters worldwide for two weeks. Many industry experts believe that the run will be extended if ticket sales continue to be as brisk as they were over the weekend. Read More
The film of Michael Jackson’s rehearsals for his British concert tour was a big risk for Sony (NYSE:SNE) which apparently put up $60 million for the rights to the footage. The gamble paid off.
The film “This is It” made $20 million in its first day. The movie was released worldwide and it will only be shown in theaters for two weeks. A music CD is being released at the same time and sales expectations for it are huge. Read More
Reuters: The US economy is stable but risks remain according to Geithner.
Reuters: JPMorgan (NYSE:JPM) raised concerns about Galleon in 2001.
Reuters: As many as five million Americans have been infected with H1N1.
Reuters: Sony (NYSE:SNE) posted a fourth straight quarterly loss. Read More
Markets in Asia were higher.
The Nikkei rose 1.5% to 10,034. Sony (NYSE:SNE) cut the forecast of its full-year loss
The Hang Seng was up 2.2% to 21,731. CNOOC (NYSE:CEO) traded higher.
The Shanghai Composite rose 1.2% to 2,996.
It looks like Nintendo may finally be pulled of its perch as the No.1 video game console company in the world. It announced April to September 2009 earnings and part of the data the firm gave out is that it only sold 5.75 million units of its flagship Wii product. That compares with 10 million in the same period the year before.
Nintendo’s profit for the six months was $772 million down 52%. The consumer electronics company also cut its full-year profit forecast by over 15%. It said that a strong dollar and price cuts on the Wii would hurt results. Read More
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