Sony Corporation (ADR) (NYSE:SNE) stock plunged whereas shares of Sharp Corporation (ADR) (PINK:SHCAY) moved up after they reported an end to their joint venture to make and sell large liquid-crystal-display panels and modules the prior day, bringing the almost 3 year old association to an end.
Sony reported that it will also sell back its 7% stake in Sharp Display Products Corp, a fully owned business of Sharp, for 10 billion yen or $126 million.
The companies stated in a joint statement that the transaction would be done by the end of June.
Shifting readers focus to broader market, let’s consider market performance of other stocks that significantly affect same sector. Panasonic Corporation (ADR) (NYSE:PC) advanced +1.67% to settle at $6.68, Harman International Industries Inc./DE/(NYSE:HAR) moved up +1.86% to end at $41.70 while Universal Electronics Inc. (NASDAQ:UEIC) plunged -0.84% to finish on Thursday at $13.02.
Sony Corporation (ADR) (NYSE:SNE) on MAY 24, 2012 it decreased -0.51% to the closing price of $13.76. The overall volume in the last trading session was 2.73 million shares. Its fifty two week range was $13.55-$27.70. The total market capitalization remained $13.81billion.
SNE is ahead its 52 week low with +1.55% and lagging behind from its 52 week high price with -50.89%. SNE last month stock price volatility remained 1.84%. In its share capital SNE has 1.00 billion outstanding shares among them 1.00 billion shares have been floated in market exchange. SNE stock institutional ownership remained 5.83%.
The stock price of SNE is moving down from its 20 days moving average with -7.82% and remote negatively from 50 days moving average with -21.97%. SNE current year earnings per share fell -75.92% while its current quarter performance remained -36.68%. Company’s beta coefficient included 1.47. Beta factors measures the amount of market risk associated with market trade.
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