Digest: Sony strong; Apple mixed
EmptySony's holiday sales strong
Holiday sales of electronic entertainment gadgets have been strong, Sony Corp. CEO Howard Stringer said Tuesday, even while warning that the U.S. economy was "dodgy." Stringer, speaking to reporters, also said sales of the PlayStation 3 game console have picked up, now moving 200,000 units a week in the U.S. since Black Friday on Nov. 23. He added that the company should achieve an operating profit margin of 5% for the business year ending next March.
Blockbuster jumps on upgrade
Blockbuster's stock was a rare winner Tuesday, when broad markets fell significantly. Blockbuster shares rose 5.5% to $3.28 after BMO Capital Markets analyst Jeffrey Logsdon upgraded it to "outperform." He argued fourth-quarter results and more details about the company's plans could lift the stock.
Mixed day for Apple shares
Apple shares touched another all-time high Tuesday before retreating, finishing Tuesday down 2.9% to $188.54. The stock got an upgrade from Caris & Co. analyst Shebly Seyrafi, who raised his price target on the shares from $215 to $225. Seyrafi said field checks find that the company is seeing a mix shift to the higher margin iPod Touch and Nanos.