Topic: Growth Stocks

Wall Street Stock Forecaster Hotline – Friday, May 27, 2011

Article Excerpt

SONY CORP. ADRs, $26.85, New York symbol SNE, reported higher losses for its latest fiscal year, mainly due to one-time charges related to the March 2011 earthquake and tsunami in Japan. In its 2011 fiscal year, which ended March 31, 2011, Sony lost $3.1 billion, or $3.12 per ADR (each American Depositary Receipt represents one common share). In fiscal 2010, it lost $439 million, or $0.44 per ADR. Revenue rose 11.5%, to $86.5 billion from $77.6 billion. The earthquake disrupted the operations of some of Sony’s suppliers in Japan. That continues to cause parts shortages at Sony’s Japanese plants. Even so, the company expects to sell 27 million TV sets in the current fiscal year, up 20.5% from 22.4 million in fiscal 2011. However, the TV division will probably keep losing money. As well, Sony is still dealing with an online attack that forced it to shut down its PlayStation Network, which lets users of its PlayStation video-game console play online games and…