Shares of Japan's Kadokawa were set to fall by their daily limit on Friday after the media powerhouse behind the "Elden Ring" game announced a capital tie-up with Sony instead of a widely anticipated acquisition.
The latest trading day saw Sony (SONY) settling at $20.66, representing a -1.2% change from its previous close.
Japanese electronics titan Sony said Thursday it had paid more than $300 million for a 10 percent stake in the media conglomerate behind the smash-hit game 'Elden Ring'.
Sony Group said on Thursday it will invest about 50 billion yen ($320 million) to acquire new shares of Kadokawa , raising its stake in the Japanese media powerhouse to around 10% and becoming Kadokawa's top shareholder.
Zacks.com users have recently been watching Sony (SONY) quite a bit. Thus, it is worth knowing the facts that could determine the stock's prospects.
Shares of Japanese technology and entertainment giant Sony Group (SONY -3.10%) slid 3.2% through 10:30 a.m. ET Friday after multiple news outlets reported Sony is eyeing a purchase of (all or part) of Elden Ring developer Kadokawa.
Sony (SONY) is at a 52-week high, but can investors hope for more gains in the future? We take a look at the company's fundamentals for clues.
Sony (SONY) has been one of the stocks most watched by Zacks.com users lately. So, it is worth exploring what lies ahead for the stock.
Sony (SONY) might move higher on growing optimism about its earnings prospects, which is reflected by its upgrade to a Zacks Rank #2 (Buy).
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