Sharp (SHCAY.PK) fell 28.1% in Tokyo after warning it expected a ¥100B ($1.28B) operating...
Friday, August 3, 2012, 6:59 PM ETSharp (SHCAY.PK) fell 28.1% in Tokyo after warning it expected a ¥100B ($1.28B) operating loss this fiscal year, announcing 5K job cuts, and getting downgraded by Moody's and S&P. In response, Foxconn parent Hon Hai (HNHAF.PK) says it isn't obligated to go through with plans to buy a 9.9% stake in Sharp at a higher price, but Sharp feels differently. The dispute could have implications for Apple (AAPL), which relies on both companies, and might have tapped them to help build a TV.
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