Topic: Growth Stocks

Wall Street Stock Forecaster Hotline – Friday, February 7, 2014

Article Excerpt

SONY CORP. ADRs, $16.82, New York symbol SNE, gained 7% this week after it said it would consolidate its money-losing TV operations as a separate firm by July 2014. That should make it easier to sell in the future. In the meantime, Sony will focus on making high-end ultra high-definition TV sets, which are more profitable than current TVs. As well, the company has agreed to sell its struggling Vaio personal computer operations to a private equity firm, though it will hang on to 5% of this business for now. These moves make sense, because intense competition has made these products less profitable. They will also let Sony focus on its more-promising products, like its PlayStation video game console. As part of this plan, Sony plans to cut 3% of its workforce. Due to severance and other restructuring costs, it now expects to lose $1.1 billion in the fiscal year ending March 31, 2014, down from its earlier estimate of a $300-million…