Markets
markets
Rani Molla

Sony jumps on strong earnings and buyback plan despite warning of an upcoming tariff hit

Sony is up 5% premarket after reporting fourth-quarter earnings that beat analyst expectations and issuing a buyback plan of up to 250 billion yen ($1.71 billion). It posted Q4 earnings per share of 32.63 yen, beating consensus estimates of 25.48 yen. Fourth-quarter revenue was down 24%, missing expectations.

The Japanese company also warned that tariffs could harm fiscal year 2025 operating income to the tune of 100 billion yen ($684 million). Sony recently raised prices on its PlayStation 5 in Europe and some other international markets, citing the “challenging economic environment, including high inflation, and fluctuating exchange rates,” which likely means tariffs.

Sony’s gaming segment, which houses PlayStation, saw a 4% drop in sales and a 12.5% decline in operating income year on year in Q4 (which ended March 31, before the tariff news). Sales and operating income for that segment were up 10% and 43%, respectively, for the full fiscal year.

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Meet the newly public, Bezos-backed company that’s recreating the sun and stars

General Fusion CEO Greg Twinney spoke with Sherwood News from the Nasdaq during the stock’s first day of trading.

Web Summit Vancouver 2026 - Day Three
markets
J. Edward Moreno

SpaceX gets a wave of bullish ratings from Wall Street analysts

SpaceX received more than a dozen positive analyst calls on Tuesday — including from major Wall Street banks — as they initiate coverage on Elon Musk’s space and AI company.

SpaceX went public on June 12 at a $2.2 trillion valuation, the largest debut in history. While the company hasn’t yet posted a profit, it seems to have convinced Wall Street that it will get there and grow its valuation on the way.

Of the at least 17 analysts that gave a rating on Tuesday, all but one gave it a “buy” or “outperform” rating. MoffettNathanson was "neutral."

The ratings come as SpaceX joined the Nasdaq 100 index, a benchmark tech-heavy basket of companies that underpins millions of portfolios. The inclusion adds built-in demand for the stock from index funds and ETFs.

Still, SpaceX fell more than 5% on Tuesday amid a broader sell-off, and is currently effectively flat from its opening price of $150 a share.

Luke Kawa
7/2/26
US job growth falls far short of estimates in June; unemployment rate unexpectedly dips to 4.2%

Job growth was 57,000. Analysts foresaw job growth of 113,000; prediction markets were more optimistic, looking for job growth above 125,000 but below 150,000.

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Luke Kawa
7/1/26
Meta surges on report it’s starting a cloud business to sell excess AI compute

The story of the hyperscalers in 2026 has largely been “the beatings will continue until the cash flow outlook improves;” this could help change the story for Meta. Or not.

Meta CEO Mark Zuckerberg visits U.S. Capitol for Senate meetings

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