U.S. Morning Call:Dan Loeb calls for Sony Entertainment sale
Tuesday, May 14, 2013 - 03:11
May 14 - Billionaire hedge fund investor Daniel Loeb on Tuesday called on Sony to spin off its lucrative entertainment arm.
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Download has an idea for Sony and it could mean the end of the company as we know it that's only for Tuesday's morning call. The hedge -- superstar. Delivered a letter to Sony CEO with a plan to -- as much as 20% of its music and movie business. To existing shareholders. Low even latest -- to promise sperm would backstop an IPO to the two of two billion dollars to ensure its success. Look has slowly built a six and a half percent stake in Sony worth one point one billion dollars. What are when he stays in the Japanese well Sony's stock price has already doubled this year Japan's big stock rally. It's not nearly 4% in the premarket. The company has a market cap of eighteen billion dollars exactly apples 400 billion dollar value. But judging from -- past what the man wants he gets his best known victory was ousting -- whose former headed poaching Marissa Mayer from Google. So we'll keep an eye on how this battle shakes out. Why don't we take a look at download other holding Yahoo! it has run up 70% since mayor took the CEO job last July. Sure enjoying warm Sunnyvale California weather today but Yahoo! CFO. Is in Boston. Scheduled to take the stage at the JPMorgan conference to speak investors. Bill press over a multi year revenue decline -- the Internet company and they'll want hints about a potential IPO of its valuable stake in Alibaba. And be sure to check out shark. It's looking to expand its business with Apple's rivals Samsung to help boost sales. Slowing growth and -- business of making screens for ipads and iphones contributed to it's worse than expected five point four billion dollar loss last year. So it feels look a little greener over its ams and that could keep sharp afloat. Sure I have the right idea consumers are living in droves to Smartphones their purchases now make up half of all mobile sales annually. According to Gartner data. Samsung keeping its top spot for the first quarter grading 30% market share worldwide. Apple's second place but not close challenger with a mere 18% of the market. Also a big winner here Google its android platform now accounts for nearly 75%. Alcohol sales. US stock futures point to a lower open today where -- also keeping -- crude prices touching 95 dollars this morning. International Energy Agency predicting that North American oil production will dominate global supply in the next five years. In no small part thanks to fracking and other technologies that -- companies to tap once untouched -- That's Tuesday morning caught remembered follow us on Twitter at Reuters Insider and get more great videos at Reuters dot com slash later. I'm super.
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