Trick or Treat? Sony (NYSE:SNE) Soars, Qualcomm (NASDAQ:QCOM) Falters on Ghoulish Trading Day




Shares of Sony Corporation (NYSE:SNE) soared up nearly 12% today on a second-quarter fiscal 2017 earnings beat. The electronics giant reported a head-spinning earning growth percentage of 2600% compared to the same period last year. Earnings per share came in at ¥101.35, or $0.90 USD, surpassing consensus estimates of around $0.54.

Semiconductor revenues jumped 17.9% to $2.1 billion while revenues from the company's gaming hardware and software segment increased  $35.4% to $3.9 billion, due in part to impressive sales of the Playstation (PS4).

Concurrent with the second-quarter results, Sony Corporation raised its revenue guidance for fiscal 2017 to ¥8,500, representing an increase of 2.4% from earlier estimates.




Shareholders of Qualcomm, Inc. (NASDAQ:QCOM) were spooked today as shares closed down nearly 7% on reports that Apple (NASDAQ:AAPL) is turning to other chip suppliers such as Intel (NASDAQ:INTC) to develop its hardware. The relationship between Qualcomm and Apple turned sour earlier this year when Apple accused Qualcomm of refusing to pay rebates and overcharging for chips.



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