Sony Corporation was a big mover last session, as the company saw its shares rise more than 8% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. This stock, which remained volatile and traded within the range of $42.03 –$46.66 in the past one-month time frame, witnessed a sharp increase yesterday.
The move came following reports that Daniel Loeb’s Third Point has purchased a stake in the company.
The company has seen no changes when it comes to estimate revision over the past few weeks, while the Zacks Consensus Estimate for the current quarter has also remained unchanged. The recent price action is encouraging though, so make sure to keep a close watch on this firm in the near future.
Sony currently has a Zacks Rank #4 (Sell) while its Earnings ESP is 0.00%.
Investors interested in the Audio Video Production industry may consider a better-ranked stock like Sonos, Inc. SONO, which carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Is SNE going up? Or down? Predict to see what others think:Up or Down
Today's Best Stocks from Zacks
Would you like to see the updated picks from our best market-beating strategies? From 2017 through 2018, while the S&P 500 gained +15.8%, five of our screens returned +38.0%, +61.3%, +61.6%, +68.1%, and +98.3%.
This outperformance has not just been a recent phenomenon. From 2000 – 2018, while the S&P averaged +4.8% per year, our top strategies averaged up to +56.2% per year.
See their latest picks free >>