Finimize - 🕷 Spidey rescues Sony

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Today's big stories

Sony reported its highest full-year revenue ever
A major shakeup this weekend proved that stablecoins aren’t always so “stable” after all – Read Now
Pfizer announced its biggest deal in five years

Into The Sony-verse

What’s Going On Here?

Sony reported record full-year sales on Tuesday, after the entertainment giant came to the eye-opening realization that three Spider-Men are more profitable than one.

What Does This Mean?

Somewhere in this sprawling multiverse, there’s another Finimize reporting that Sony is in disarray after its latest Spider-Man movie unceremoniously flopped. This is not that universe, with Spider-Man: No Way Home having become one of the highest-grossing movies of all time. Throw in a long list of licensing agreements with streaming services, and Sony’s movie segment brought down the house last quarter.

Sony’s music and anime businesses performed well too, and there was big demand for its smartphone camera sensors. Put it all together, and the company posted its best-ever full-year sales – albeit with the caveat that the company’s profit came in 14% lower than the year before. It said it was expecting another drop of 6% this year too, which does make you wonder if Hotel Transylvania: Transformania was a shrewd investment.

Why Should I Care?

Zooming in: Microsoft might not be on top for long.
Sales of Sony’s PlayStation 5 faltered last year, but only because it’s still nearly impossible to get hold of one: the company doesn’t have enough of the parts it needs to meet demand. That’s put its sales well behind those of Microsoft’s Xbox models, which made record revenue in March. Sony, then, has been working hard to find new suppliers and design shortcuts, which it’s confident will help it get production back on track in next to no time.

The bigger picture: Sony’s built for this.
Sony makes a significant portion of its sales internationally, which is a fortunate position for a Japanese company to be in right now. See, the yen is at a 20-year low against the US dollar, largely because America’s rising interest rates (and Japan’s rock-bottom ones) have made US assets more appealing to international investors and savers. So when Sony converts its foreign revenue back into Japanese yen, it’ll be worth a lot more than it would’ve been otherwise.

You might also like: Can the yen pull itself back together?

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Analyst Take

Stablecoins Aren’t As “Stable” As They Seem

By Jonathan Hobbs, Analyst

What’s Going On Here?

Terra had a rough time of it this weekend.

The blue chip blockchain’s stablecoin – which is pegged to the value of the US dollar – detached from that very peg. That’s… not supposed to happen.

It’s a shakeup that’s sent the price of Terra’s more volatile coin, Luna, down more than 60%, knocking the crypto out of the top 10 digital assets by market size.

But it’s also a timely reminder that for all their reputation as a less volatile crypto, stablecoins aren’t always what they’re cracked up to be.

So that’s today’s Insight: what exactly happened with Terra and Luna, and what you can take from it about the stablecoin market at large.

Read or listen to the Insight here

Old dogs, new tricks

The stock market’s been ruled by young bucks like Amazon, Apple, and Tesla recently.

But it looks like the old-timers are back to show them how it’s done: utilities and commodities stocks have been catching investors’ attention this year, according to a new TradeStation report.

Check it out for yourself: the chart above – created with TradeStation’s TradingView tool – shows insurance stock Traveler reached new highs earlier this month.

There’s more where that came from, and you can spot them all using TradeStation’s market-scanning tools.

Now sounds like a good time to get started: claim a $150 bonus when you sign up with TradeStation.

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