3 Hot Tech Stocks to Follow for Friday
Microsoft Corp. (NASDAQ:MSFT): Microsoft’s Xbox One has hit the markets to great fanfare, as people lined up across a dozen countries to snag the new device. Sony’s PlayStation 4 — which starts $100 lower than the Xbox, at $399 — sold 1 million units in its first 24 hours on sale. GameStop and Best Buy have already sold out of PS4s, while the former says some 2.3 million people are waiting on a new game console.
Sony Corp. (NYSE:SNE): Sony is aiming to take a $250 million bite out of its entertainment costs over two years as a part of CEO Kazuo Hirai’s plan to lift profitability and maintain full ownership of the movie, TV, and music businesses. Sony will be cutting down its movies from Columbia Pictures and instead will be shifting its investments to television production and media networks while realizing more savings.
BlackBerry Ltd. (NASDAQ:BBRY): The CEO of leading Canadian pension fund Alberta Investment Management Corp., Leo de Bever, has confirmed that AIMCo was in fact involved in talks to take BlackBerry private, but the fund never obtained a business plan from BlackBerry that instilled de Bever with the confidence that the company could stage a turnaround. Regardless, de Bever still believes that there is value in BlackBerry’s assets like its patent portfolio, real estate, and cash.