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Sony Corporation Message Board

  • jcerna jcerna Jun 4, 1998 7:10 PM Flag

    GIC Buyout

    Looks like Sony is going to buy GIC, what a great alliance!!!

    SortNewest  |  Oldest  |  Most Replied Expand all replies
    • Wish they would all get on the same buy page. One
      day maybe.

      TOKYO (Nikkei/Dow Jones)--Shares of
      Japan's Sony Corp. (SNE or
      6758) advanced Friday on
      active bargain hunting after the shares closed
      lower
      for five of the past six days through
      Thursday.

      At the end of the session on the Tokyo Stock
      Exchange, Sony shares were
      up Y160, or 1.4%, at Y11,310
      on volume of 715,700 shares. The shares
      rose as
      high as Y11,420 in the midafternoon. The stock's
      trading value of
      Y8.1 billion ranked top among shares
      traded on the Tokyo market.

      Long-term funds in
      Japan and abroad were active buyers, a trader
      said.

      Despite concerns about earnings prospects of the
      overall high-technology
      sector, highly competitive
      companies like Sony should remain profitable
      even in a
      low-growth period, said a manager at a foreign-owned
      fund.

      LTCB Warburg Securities bought 860,000 shares in
      the morning session
      alone. Merrill Lynch Japan
      and ABN Amro Securities Japan purchased
      Sony
      shares as well.

      On the other hand, Salomon Smith
      Barney was an active seller, as some
      foreigners
      continued to narrow the proportions of Japanese stocks in
      their
      portfolios, a market observer said.

      • 1 Reply to Powderdog_97
      • To put a good spin on Godzilla I would say,
        Sony's ability to make $ out of this high tech movie
        should give stockholders confidence that the company is
        one of the best investments on the planet right
        now.


        "Godzilla," with a $120 million production budget and tens of
        millions of dollars more in marketing costs, has been
        roundly criticized in Hollywood, after taking in only
        about $100 million at the box office. But in an
        interview "Godzilla" producer Dean Devlin expressed
        frustration with the perception
        that the film is a
        failure.

        He projected that "Godzilla" ultimately will make
        about $100 million in profit for Sony, and adds that
        there is still "a very good chance" that a sequel will
        be made. But he said that decision will probably
        "not have to do with profit; it will have to do with
        whether we want to go through this abuse again."


        Mr. Devlin added: "This is going to go down in the
        record books as one of the most successful `flops' in
        history."

 
SNE
17.68+0.35(+2.02%)Jul 25 4:05 PMEDT

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