The Verge : SONY’S ELECTRIC CAR IS THE BEST SURPRISE OF CES

SONY’S ELECTRIC CAR IS THE BEST SURPRISE OF CES - http://bit.ly/2uyA87j
A real working car stuffed full of Sony tech

ToTo answer your question: no, you won’t be able to buy the Sony car. Not any time soon, at least. The company has no plans to mass-produce the Vision-S, the car it surprise-announced at the end of its press conference at this year’s Consumer Electronics Show, nor does it plan to do a limited run.
Instead, the Sony Vision-S really exists somewhere between a concept and a prototype. Like a concept, it’s meant to showcase the ideas Sony has for the world of cars. But like a prototype, the car actually works.
There’s actually a long list of those ideas on display in the Vision-S. One of the big focal points is, unsurprisingly, the entertainment experience and user interface. That starts with a set of rectangular displays on the dashboard that stretch from pillar to pillar.

Both the middle display and the one in front of the passenger seat are touchscreens. This is where the driver and passenger can access all of the car’s media controls. That included things like — shocker! — Sony-owned movies or Sony-licensed music, but also a tab for games (which wasn’t working) and another for vehicle settings.
The animations of these menus were fluid, clever, and just overall excellent. For instance, a quick L-swipe at the top left of the middle screen moved whatever was currently on display to the passenger screen — an interaction that felt deeply satisfying. There is also more than one way to interact with the user interface. A separate trackpad extends out from the center console, and this can be used to tap through menus, and is capable of multitouch gestures. It’s also where the driver and passenger can change the car’s climate control settings. And below that was a big silver dial dedicated to volume control that could also serve other purposes.
It was a controlled demo, to be sure, but Sony deserves some credit for having the user interface piece of the experience feel so locked in. After all, it was less than two months ago that Ford totally blew this part of the Mustang Mach-E reveal. While it’s still hard to imagine cars with displays that span entire dashboards, I could see how Sony’s idea might be more practical than, say, the massive single screen of EV startup Byton.
Rear seat passengers aren’t left out of this experience, as they each have their own seatback touchscreens. And Sony outfitted the Vision-S with high-end sound equipment including speakers in each headrest, which the company says would make it possible for passengers to watch different things at the same time.
Advertisement

Another idea that Sony infused in the Vision-S is that the company’s camera sensors could make useful components in cars, especially cars with advanced driver assistance features or perhaps even fully self-driving functionality. The company is also using its image sensors to power the side-view cameras that take the place of traditional mirrors in the Vision-S. To that end, the Vision-S has more than 10 Sony image sensors embedded throughout the vehicle, alongside a host of other sensors like LIDARs, radars, and ultrasonics.
Sony could have just shoehorned bits of all this technology into a static concept vehicle. But the company figured the best way to prove to automakers and other industry players that it was serious was to fully embrace the challenge of building a working electric car.
“Through the process of building the prototype, we started to learn a lot about the architecture of the vehicle, we started to think about how our other technologies could be implemented in a vehicle,” Yuhei Yabe, the general manager of Sony Corporation’s AI and robotics business group, said in an interview.
That meant sourcing battery cells (Sony wouldn’t say where from) and packaging them together in what appears to be a fairly full-size battery pack. The company worked with automotive manufacturer Magna to help with the vehicle engineering work, and the result is a car with laudable specs for a first attempt. It can go from 0 to 60 miles per hour in about 4.5 seconds thanks to two 200kW motors (one on each axle), and has a top speed of 149 miles per hour. The company didn’t cite a range figure, though the graphic in the cockpit showed 277 miles remaining with 82 percent battery. Sony says it imagines all these technological underpinnings could be used to power all sorts of vehicles, from SUVs to minivans to more utilitarian people movers.

It’s hard to explain how refreshing it is to see a company approach a concept car this way, especially at a show like CES. Automakers love to trot out what are basically rolling hunks of plastic and LED lighting. They’ll then saddle the glorified prop with their massive ambitions, even if the car might just fall to pieces if you breathe on it too hard.
Sony didn’t have to go and make a real car to show off some tech it thought might be good for the automotive space. But it did it anyway, and the car the company produced is remarkably coherent and downright attractive to boot.
Making cars at any scale is a grueling business, though. It takes a ton of work, and even more money. So it’s probably a good thing for Sony that it doesn’t plan to make the Vision-S — even if people wind up walking away from CES 2020 wanting a Sony car.

>>> TradeGate Pre-Market Indications

  • DAX:
    • RWE (RWE TH) +2.2%
      • RWE Could Receive EU2b Compensation for German Coal Exit: RP
    • Covestro (1COV TH) +0.8%
    • Lufthansa (LHA TH) +0.8%
      • Lufthansa Says Tehran-Bound Flight Returned to Frankfurt
    • Vonovia (VNA TH) +0.8%
      • Vonovia Started Compulsory Purchase of Remaining Hembla Shares
    MDAX:
    • Duerr (DUE TH) +2.9%
      • Duerr Raised to Buy at SocGen; PT 44 euros
    • K+S (SDF TH) +2.4%
    • Varta (VAR1 TH) +1.5%
    • Telefonica Deutschland (O2D TH) +1.3%
    • Puma (PUM TH) +1%
    • Uniper (UN01 TH) -3.3%
      • Fortum, Uniper Downgraded at Citi, Focus Turns to Fundamentals
    SDAX:
    • Norma (NOEJ TH) +3.9%
      • Norma Raised to Buy at SocGen; PT 52 euros
    • Encavis (CAP TH) +2.6%
    • Nordex (NDX1 TH) +2%
    • Corestate (CCAP TH) +1.4%
    • Aixtron (AIXA TH) +1.3%

>>> Stoxx 600 Pre-Market Indications

  • RWE (RWE TH) +2.2%
    • RWE Could Receive EU2b Compensation for German Coal Exit: RP
  • K+S (SDF TH) +2%
  • Rio Tinto (RIO1 TH) +1.6%
  • Salmar (JEP TH) +1.5%
    • Norwegian Fish Farmers Face Lawsuit in Canada, CBC Says
  • Nokia (NOA3 TH) +1.3%
    • Nokia Raised, Ericsson Cut as Handelsbanken Switches 5G Favorite
  • Simcorp (XCL1 TH) +1.3%
  • EDP (EDP TH) +1.3%
  • Unilever (UNI2 TH) +1%
  • Lufthansa (LHA TH) +1%
    • Lufthansa Says Tehran-Bound Flight Returned to Frankfurt
  • Ferrari (2FE TH) -0.8%
  • Rheinmetall (RHM TH) -0.9%
  • Uniper (UN01 TH) -3.2%
    • Fortum, Uniper Downgraded at Citi, Focus Turns to Fundamentals

>>> Europe : Brokers Upgrades & Downgrades - 10th of January 202

>>> Up
* CaixaBank Raised to Outperform at KBW; PT 3.50 euros
* Direct Line Raised to Buy at Citi
* Duerr Raised to Buy at SocGen; PT 44 euros
* Enagas Raised to Neutral at BofA; PT 23.10 euros
* EnQuest Raised to Overweight at JPMorgan; PT 40 pence
* E.On Raised to Neutral at BofA; PT 10 euros
* Generali Raised to Buy at Citi
* Iberdrola Raised to Buy at BofA; PT 10.65 euros
* Italgas Raised to Buy at BofA
* Mitchells & Butlers Raised to Sector Perform at RBC
* Nokia Raised to Buy at Handelsbanken; PT 4.70 euros
* Norma Raised to Buy at SocGen; PT 52 euros
* Playtech Raised to Buy at Deutsche Bank
* Polymetal Raised to Buy at Berenberg; PT 1,480 pence
* Snam Raised to Buy at BofA
* Trelleborg Raised to Overweight at Morgan Stanley
* Vistry Group Raised to Buy at Citi
* Whitbread Raised to Hold at Deutsche Bank

>>> Down
* Bankinter Cut to Underperform at KBW; PT 6.41 euros
* Barratt Cut to Neutral at Citi
* Diploma Cut to Underperform at RBC; PT 1,500 pence
* Diploma Cut to Hold at Jefferies; PT 1,800 pence
* Engie Cut to Neutral at BofA; PT 15.50 euros
* Ericsson Cut to Hold at Handelsbanken; PT 92 kronor
* Fortum Oyj Cut to Neutral at Citi
* Gresham House Raised to Buy at Panmure Gordon; PT 700 pence
* Jupiter Cut to Sell at Panmure Gordon; PT 333 pence
* Hays Cut to Sector Perform at RBC; PT 175 pence
* Hella Cut to Hold at Bankhaus Lampe; PT 52 euros
* Klovern Cut to Sell at ABG; PT 20 kronor
* Legal & General Cut to Neutral at Citi
* Marston's Cut to Sector Perform at RBC; PT 130 pence
* Munich Re Raised to Neutral at Citi
* Naturgy Cut to Underperform at BofA; PT 23 euros
* Pagegroup Cut to Sector Perform at RBC; PT 530 pence
* Restaurant Group Cut to Sector Perform at RBC; PT 170 pence
* Sanne Group Cut to Sector Perform at RBC; PT 700 pence
* Schoeller-Bleckmann Cut to Accumulate at Erste Group
* SEB Cut to Underweight at JPMorgan; PT 75 kronor
* Spectris Cut to Underweight at Morgan Stanley; PT 2,500 pence
* SSAB Cut to Equal-Weight at Morgan Stanley; PT 40 kronor
* TGS Cut to Hold at Handelsbanken; PT 270 kroner
* Travis Perkins Cut to Sector Perform at RBC; PT 1,550 pence
* Uniper Cut to Underperform at BofA; PT 27.50 euros
* Uniper Cut to Sell at Citi; PT 25.30 euros
* Voestalpine Cut to Underweight at Morgan Stanley
* William Hill Cut to Hold at Deutsche Bank

>>> Initiation
* Adecco Rated New Overweight at JPMorgan; PT 70 Swiss francs
* JTC PLC Rated New Buy at Panmure Gordon; PT 509 pence

>>> Call
* Nokia Raised, Ericsson Cut as Handelsbanken Switches 5G Favorite
* European Insurance Has Added Value Not Captured by IFRS: Citi
* Fortum, Uniper Downgraded at Citi, Focus Turns to Fundamentals
* Bayer’s Odds for Glyphosate Settlement Improving: Citi
* Trelleborg Upgraded, Preferred Over Spectris at Morgan Stanley
* U.K. Pubs and Restaurants Sector Now Fairly Valued, RBC Says
* Citi Sees Value in U.K. Housebuilders; Cuts Barratt, Ups Vistry

>>> Asian Update

Asia Market Update: Equity markets opened higher after the record closes seen on Wall St; Chinese and HK equities lag in early trading; Jan 15th (Wed) signing date for US/China phase 1 deal in focus; US payrolls report due later today


General Trend:
- Trump said China trade deal may be signed shortly after Jan 15th (financial press citing interview)
- Energy companies and property developers decline in China and Hong Kong in early trading
- HK property developer Sunac China drops over 4% on plan to conduct ~HK$8.0B stock placement
- Aussie Nov retail sales supported by Black Friday spending
- Indonesia Rupiah (IDR) rises on comments from central bank
- Large Taiwanese DRAM maker Nanya Technology expected to report Q4 results later today
- Taiwan Semi expected to report Dec sales later today

***Headlines/Economic Data***
Australia/New Zealand
-ASX 200 opened +0.2%
- (AU) AUSTRALIA NOV RETAIL SALES M/M: +0.9% V +0.4%E (largest rise in 2 years)
-(AU) Australia Dec AIG Performance of Services Index: 48.7 v 53.7 prior
- (AU) Australia insurers have raised bush fire lose estimates to A$939M - US Financial Press

China/Hong Kong
-Shanghai Composite opened +0.2%, Hang Seng +0.4%
- (CN) China PBOC sets Yuan Reference Rate: 6.9351 v 6.9497 prior
- (CN) China PBoC Open Market Operation (OMO): Skips reverse repos for the 14th consecutive session; Net drain CNY0B v drain CNY0B prior
- (CN) Phase 2 trade deal after Nov 2020 is too far away, US President Trump should not use the signature of a phase 2 deal with China as ‘bargaining chip’ for his presidential election in Nov 2020 – Global Times

Japan
-Nikkei 225 opened +0.3%
- (JP) Nikkei 225 options for Jan said to settle at ~23,857
- (JP) Japan Nov Household Spending Y/Y: -2.0% v -1.8%e
- (JP) Japan Dec Official Reserve Assets: $1.32T v $1.32T prior
- (JP) Japan Nov Preliminary Leading Index CI: 90.9 v 90.9e; Coincident Index: 95.1 v 95.2e
- (JP) Bank of Japan (BOJ) announcement related to daily bond buying operation: Unchanged
- (JP) Japan PM Abe trip to Saudi Arabia, UAE, and Oman will proceed as planned - Japan Press

Korea
-Kospi opened +0.2%
- (KR) South Korea Finance Min Hong: Iran situation is not impacting the domestic economy

Other Asia
- (ID) Indonesia Central Bank: Will allow IDR (Rupiah) to strengthen further
- (SG) Singapore Nov Retail Sales M/M: 0.2% v +1.0%e; Y/Y: -4.0% v -4.1%e

North America
-Boeing [BA]: Issues statement on documents provided to Congress related to the internal communications about the development of the 737 Max
-Grubhub Seamless [GRUB]: Comments on press speculation: 'unequivocally' isn't running sales process
- Amazon [AMZN]: Said to be in talks with TV Apps about selling ad inventory on platforms such as Apple TV and the XBOX - US financial press

Europe
- (UK) UK Foreign Sec Raab: Advises against all travel to Iran, cites 'body of information' that Ukraine UIA Flight 752 was shot down by Iran
- (IE) Ireland Dec Consumer Confidence: 81.4 v 77.1 prior


***Levels as of 00:20 ET***
- Nikkei 225, +0.3%, ASX 200 +0.8%, Hang Seng flat; Shanghai Composite -0.4%; Kospi +0.6%
- Equity Futures: S&P500 +0.2%; Nasdaq100 +0.3%, Dax +0.1%; FTSE100 +0.1%
- EUR 1.1112-1.1102 ; JPY 109.58-109.45 ; AUD 0.6878-0.6850 ;NZD 0.6621-0.6601
- Gold -0.4% at $1,547/oz; Crude Oil -0.3% at $59.36/brl; Copper +0.1% at $2.803/lb

>>> US After Hours Summary: SNX +8.7% to split in two; GRUB falls on B

After Hours Summary: SNX +8.7% to split in two; GRUB falls on Bloomberg report; URBN -10% on holiday sales data

After Hours Gainers:

Companies trading higher in after hours in reaction to earnings/guidance: SNX +8.7% (also plans to separate into two cos, raises div), PSMT +3.8%, ISRG +2.8%, FLXN +0.3%, TGNA +0.2%

Companies trading higher in after hours in reaction to news: ACRS +31.2% (reports "positive results" from Phase 1 trial of ATI-450 for immuno-inflammatory diseases), MRNA +18% (announces additional "positive" Phase 1 data from study of CMV vaccine), RARE +17.8% (reports positive results from Phase 1/2 study of DTX301), TTOO +7.9% (appoints John Sperzel as CEO), NLOK +2.4% (announces special dividend of $12/sh), LEN +1% (increases dividend), SAIC +0.1% (wins $727 mln defense contract)

After Hours Losers

Companies trading lower in after hours in reaction to earnings/guidance: PTLA -39.4% (guides Q4 Andexxa global net revenues to approx $28 mln), SPWH -15.2%, URBN -9.9% (reports holiday sales), CYRX -8.9%, WDFC -5.1%, KBH -1.9%

Companies trading lower in after hours in reaction to news: MTNB -11.1% (commences public offering of common stock), GRUB -6.5% (Bloomberg reports: co says it's not running sale process), APTX -6.1% (announces proposed public offering of common stock), KRP -5% (acquires assets of Springbok Energy Partners; announces 5 mln common unit offering), ADRO -2.3% (announces corporate restructuring plan), ARAV -1.8% (names new CEO), PLMR -1% (prices offering)

>>> US Close Dow +0.74% S&P +0.67% Nasdaq +0.81% Russell +0.08%

Closing Stock Market Summary

The S&P 500 rose 0.7% and closed at a record high on Thursday, as the market extended Wednesday's relief rally amid gains across all 11 S&P 500 sectors. The Dow Jones Industrial Average (+0.7%) and Nasdaq Composite (+0.8%) also closed at record highs, while the Russell 2000 increased just 0.1%.

The ease in tensions with Iran remained conducive for risk sentiment, even as President Trump and Canadian Prime Minister Trudeau echoed a Newsweek report that Iranian missiles shot down the Boeing (BA 336.34, +4.97, +1.5%) 737-800 jetliner earlier this week. There was no indication the U.S. would reconsider its de-escalation strategy, though.

Other positive factors included 1) upbeat holiday sales results, 2) several analyst upgrades, 3) weekly jobless claims returning to lower levels, and 4) China confirming Vice Premier Liu He will visit Washington from Jan. 13-15 to sign the Phase One trade deal.

Apple (AAPL 309.63, +6.44, +2.1%) led the information technology sector (+1.1%) higher after Reuters reported that iPhone sales increased 18% yr/yr in China last month while Costco (COST 299.42, +4.73, +1.6%) led the consumer staples sector (+0.7%) higher after it reported 9.0% yr/yr comparable sales growth for the five weeks ended Jan. 5.

Advanced Micro Devices (AMD 48.97, +1.14, +2.4%), Goldman Sachs (GS 242.60, +4.84, +2.0%), and Coca-Cola (KO 55.34, +0.99, +1.8%) were among today's stocks that were upgraded to the equivalent of a Buy rating. 

Given the amount of good news today, then, it's easy to see why calls for a pullback remained unanswered. The persistent bullish momentum in the market exacerbated a fear of missing out on further gains amid a lack of detrimental developments.

It's worth noting, though, that Kohl's (KSS 46.15, -3.23, -6.5%) did issue an earnings warning and Bed Bath & Beyond (BBBY 13.45, -3.20, -19.2%) withdrew its full-year guidance on top of reporting disappointing results. The broader market was not surprised or bothered by the news. 

U.S. Treasuries finished the session slightly higher. The 2-yr yield declined one basis point to 1.57%, and the 10-yr yield declined two basis points to 1.86%. The U.S. Dollar Index increased 0.1% to 97.44. WTI crude declined 0.1% to $59.54/bbl. 

Thursday's economic data was limited to the weekly Initial and Continuing Claims report:

  • Initial jobless claims for the week ending January 4 decreased by 9,000 to 214,000 ( consensus 225,000). Continuing claims for the week ending December 28 increased by 75,000 to 1.803 million.
    • The key takeaway from the report is that initial claims have settled back down at lower levels, which reflect ongoing tightness in the labor market.

Looking ahead, investors will receive the Employment Situation Report for December and Wholesale Inventories for November on Friday.

  • Nasdaq Composite +2.6% YTD
  • S&P 500 +1.4% YTD
  • Dow Jones Industrial Average +1.5% YTD
  • Russell 2000 -0.2% YTD