Panasonic Extends Gains, Up 14.2%
Koji Sasahara
Shares of Panasonic jumped 14 percent in early trade on Monday, hitting a 7-month high after the consumer electronics maker rebounded to a quarterly profit and stuck with its full-year earnings forecast.
It was the fifth-most traded stock on the main board by turnover.
Panasonic posted an operating profit of 34.6 billion yen ($373.61 million), up from an 8.1 billion yen loss a year ago, as it moves its business away from loss-making TVs in favor of household appliances.
(Read More: Panasonic Considers Headcount Savings, Asset Sales)
Shares of Panasonic jumped 14 percent in early trade on Monday, hitting a 7-month high after the consumer electronics maker rebounded to a quarterly profit and stuck with its full-year earnings forecast.
