Sony sells New York HQ for $1.1 billion, up 19% in 2 days

[binary solo]

Gehirnkrampf said:

kowenicki said:

The market isn't responding to the building sale. It is responding to the CEO statement of yesterday.

Anyway, I expected a profit this quarter anyway, and this has assured a profit for the next quarter I guess.

We'll have to look beyond this transaction to see what's going on in the numbers.

i don't think the market is responding just to this statement (did it even deliver numbers?) in that extreme way. i think it is three things:

- that statement

- selling the building with profit

- the third thing is:

japans new government plans a money flood. markets already react to that. NIKKEI is up today ~3 percent. the last two month it were 25 percent.

Nikon up 5.8 percent today. panasonic up 5.3 percent today. and as we know sony is in financial trouble and has to pay high for debt, i think sony profits the most from cheap money (better said the hope for cheap money which will come in some weeks?).

I find it rather ironic that a right leaning govt is planning to go on a spending spree. But I guess Nationalism + desire for power > ideologic economic consistency.

But Japan's consumer electronics giants need the world to start buying their stuff to get out of the pooh. Japan govt corporate welfare ain't gonna cut it.