Deals
Sony Forecasts Surprise Loss on PC Exit, Restructuring
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Sony Corp. plunged in Tokyo trading after unexpectedly forecasting an annual loss, the sixth in seven years, casting further doubt on Chief Executive Officer Kazuo Hirai’s ability to revive the company.
Sony shares fell 6.1 percent, the most since Nov. 1, to 1,695 yen at the close in Tokyo. UBS AG cut Sony to a sell rating, and Goldman Sachs Group Inc. lowered its share-price estimate for the company.