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Early Market Look: How SNE, XOM and COP are Faring

NEW YORK (TheStreet) -- Sony (SNE), Exxon Mobil (XOM) and ConocoPhillips (COP) reported Wednesday morning.  While two of them are moving higher, the other isn't faring as well.

Sony Corp

Sony reported second-quarter results which failed to hit targets, posting a quarterly net loss of 19.3 billion yen ($197 million), a 24.5% larger loss then the previous year.

Contributing to declining profitability, Sony's movie business had an operating loss of 17.8 billion yen ($181 million) compared to a profit of 7.9 billion yen a year ago. Poor performance in this segment was partially credited to the underwhelming performance of White House Down, compared to last year's summer hit The Amazing Spider-Man.

The Tokyo-based business recorded an earnings loss of 18.91 yen, or 19 cents, a share, a 22.7% decline in profitability compared to second quarter 2012.

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Shares fell 12.2% to $17.06 by 10:05 a.m. EDT. Year to date, Sony has risen 52.9%, outpacing the S&P 500's 23.64% gain.

TheStreet Ratings team rates Sony Corp as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:

"We rate Sony Corp (SNE) a HOLD. The primary factors that have impacted our rating are mixed -- some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its impressive record of earnings per share growth, compelling growth in net income and largely solid financial position with reasonable debt levels by most measures. However, as a counter to these strengths, we also find weaknesses including weak operating cash flow and poor profit margins."


Exxon Mobil

Exxon Mobil was higher, gaining 0.77% to $89.49, despite reporting third-quarter earnings 18% lower than a year earlier. The gas refiner posted earnings of $1.79 a share on revenue of $787 billion. Analysts interviewed by Thomson Reuters had expected $1.77 a share.

The company said declining profitability was attributable to weaker margins in its refining segment. "Significantly weaker refining margins as a result of increased industry capacity negatively impacted ExxonMobil's Downstream earnings," said Chairman Rex W. Tillerson in a statement.

A volatile mover throughout the year, shares are up only 3.7% since January, lagging the 23.64% gains on the S&P 500.

TheStreet Ratings team rates EXXON MOBIL CORP as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:

"We rate EXXON MOBIL CORP (XOM) a BUY. This is driven by a few notable strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its attractive valuation levels and largely solid financial position with reasonable debt levels by most measures. We feel these strengths outweigh the fact that the company has had sub par growth in net income."


ConocoPhillips

Exxon competitor ConocoPhillips reported a 39% increase in profit for its third quarter, thanks to higher oil and natural gas prices, increased production in high-margin segments of the business, and a portfolio shift to liquid commodities.

The Houston-based company reported earnings of $2 a share on $15.47 billion in total revenue. Analysts surveyed by Yahoo! Finance had expected $1.45 a share on $14.18 billion.

"We met our production targets, despite unplanned disruptions in Libya, and increased our dividend rate in early July, reaffirming our commitment to shareholders," said Chairman and CEO Ryan Lance.

For the quarter ended Sep. 30, ConocoPhillips increased its quarterly dividend 4.5% to 69 cents a share.

Shares edged 0.55% higher to $73.65. Over the year, the company has risen 27%, broadly in line with the S&P 500.

TheStreet Ratings team rates CONOCOPHILLIPS as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:

"We rate CONOCOPHILLIPS (COP) a BUY. This is driven by some important positives, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its solid stock price performance, attractive valuation levels, expanding profit margins, good cash flow from operations and notable return on equity. Although no company is perfect, currently we do not see any significant weaknesses which are likely to detract from the generally positive outlook."

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