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Edition: U.S. Article Comments (0) Follow Reuters Facebook Twitter RSS YouTube Read Obama visits family roots in Ireland | 23 May 2011 NATO bombs Tripoli, Clinton says time against Gaddafi | 23 May 2011 Netanyahu to outline peace vision in speech to Congress 23 May 2011 "Apprentice" ends with lowest-ever spring finale 23 May 2011 DNA evidence reported to tie Strauss-Kahn to accuser 23 May 2011 Discussed 325 Obama and Netanyahu face tense meeting on Mideast 124 As hours tick by, ”Judgment Day” looks a dud 103 Broadcaster silent as Judgment Day hours tick by Watched Arnold Schwarzenegger's mystery woman identified Thu, May 19 2011 Colombia's flood economy 12:40am EDT Plankers get fired for stunt Sun, May 22 2011 Sony shares rise 2 percent on relief worst might be over Tweet Share this By Mayumi Negishi TOKYO (Reuters) - Sony Corp bounced from two-month lows on expectations it might have put its troubles behind it after the electronics conglomerate said this year's operating profit would match last year's, easing worries about the... Email Print Related News Nikkei set to fall, eyes on Sony Mon, May 23 2011 Sony to post $3.2 billion annual loss on tax write-offs Mon, May 23 2011 Sony may resume U.S.-based online games on Tuesday: report Fri, May 20 2011 Tepco chief quits after $15 billion loss on nuclear crisis Fri, May 20 2011 Tepco says would be hard to sell bonds this year Fri, May 20 2011 Analysis & Opinion Tech wrap: Sony takes a $3.2 billion beating Tech wrap: Liberty Media eyes Nook e-reader Related Topics Technology » Hot Stocks » Asian Markets » Media » iPad » A Sony logo is pictured at an electronic shop in Tokyo February 3, 2011. Credit: Reuters/Kim Kyung-Hoon By Mayumi Negishi TOKYO | Tue May 24, 2011 1:46am EDT TOKYO (Reuters) - Sony Corp bounced from two-month lows on expectations it might have put its troubles behind it after the electronics conglomerate said this year's operating profit would match last year's, easing worries about the impact of the March earthquake. In its first estimate for the year to March 2012, Sony said operating profit would come in around 200 billion yen ($2.44 billion), prompting Macquarie to upgrade its rating on the stock to outperform from neutral. Morgan Stanley, Credit Suisse and UBS reiterated their overweight, buy or outperform ratings. Analysts said Sony had provided markets with a realistic view of the impact of the quake and a PlayStation network hacking incident, both of which had weighed on the shares. Sony said it expects the quake and the hacking incident to drag down operating profit by 164 billion yen in the current financial year. In contrast, the decline in Sony's market capitalization of 264 billion yen since the quake "looks overdone," Macquarie analyst Jeff Loff wrote in a report. "With shares cheap and cost impacts one-time in nature, we expect the stock to reverse its fall." Sony expects to report a net loss of 260 billion yen ($3.2 billion) for the year ended March 31, its third straight annual net loss, after writing of tax credits following Japan's earthquake and tsunami. Many of Sony's rivals, including Panasonic Corp, have yet to issue forecasts for the current year due to uncertainty following the disaster. Shares in Sony, the maker of PlayStation video games and Vaio computers, were up 2.4 percent by 0340 GMT, outperforming a flat Tokyo electrical machinery subindex. Sony's shares dipped nearly 1 percent in early trade, to its lowest since the immediate aftermath of the earthquake. Some fund managers however said the shares, down 22 percent so far this year, might not see sharp gains. "I agree that shares are unlikely to keep sliding, but neither do I see any new catalysts that would bring the share price up. I expect shares to continue meandering back and forth at low levels," said Makoto Kikuchi, chief executive officer at Myojo Asset Management. "It's not just Sony. Panasonic, Sharp -- all Japanese home electronics makers have seen the base of their share price sink. They can't compete in prices, so the only route they have is to create new markets with high added value. Products that would make people pay more." "Sony used to have this ability. But I don't see anything that would make share prices rise this fiscal year." Sony has seen a series of hacking attacks that have exposed more than 100 million accounts on its online gaming network to possible data theft, casting doubt on Sony's bid to reinvent itself through its online business. The company cut its annual net earnings forecast for the year ended March 31 to a loss of 260 billion yen from its previous estimate of a profit of 70 billion yen. Credit Suisse analyst Shunsuke Tsuchiya said shares in Sony were close to bottoming out and Morgan Stanley's Masahiro Ono said the announcement cleared uncertainty and was a positive. Sony has been largely squeezed out of the portable music market by Apple Inc's iPod, while losing market share to Samsung Electronics in flat-screen TVs. Sony, which had developed but scrapped products that could be said to predate both the iPod and iPad, is set to announce its full results on Thursday. ($1 = 81.955 Japanese Yen) (Additional reporting by Isabel Reynolds; Editing by Edmund Klamann and Anshuman Daga) Technology Hot Stocks Asian Markets Media iPad Related Quotes and News Company Price Related News Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story directly or with relevant tangential information. We try to block comments that use offensive language, all capital letters or appear to be spam, and we review comments frequently to ensure they meet our standards. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. Comments (0) Be the first to comment on reuters.com. Add yours using the box above. 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