Panasonic, Sony, Cypress: Tech Winners & Losers
NEW YORK (TheStreet) -Panasonic (PC), Fujifilm and Sony (SNE) are competing to buy minority stakes in Olympus Corporation, according to a Reuters report, as the Japanese electronics maker announces a major restructuring.
Panasonic's President, Fumio Ohtsubo, however, said on Thursday that his company has no plans to invest in Olympus, according to another media report.
Shares of Panasonic (PC) and Sony (SNE) slipped 1.17% and 3.31% respectively on Friday.
Shares of Cypress Semiconductor (CY) dipped in early trading on Friday but rallied 0.69% to $13.16 despite Cantor Fitzgerald initiating coverage of the company with a "sell rating" and an $11 price target, citing long-term competitive and architectural issues. The semiconductor company's stock hit a new 52-week low earlier this week.
Research company comScore released a summary of a report highlighting the effectiveness of Facebook's "earned media" or advertisements. Facebook (FB)'s shares climbed by 2.7% to $27.02 on Friday. Shares of Nokia (NOK) soared to $2.95 per share - a 4.42% increase - as rumors circulate that the company could be a takeover target for Samsung (SSNLF). Samsung's market cap is 15 times Nokia's. --Written by Nathalie Pierrepont in New York. >To submit a news tip, send an email to: tips@thestreet.com. Check out our new tech blog, Tech Trends. Follow TheStreet Tech on your wireless devices. >Contact by Email. Follow @nrpierrepontSelect the service that is right for you!
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