Sony Corp’s (SNE) Playstation Network Down, Company Aware of Problem

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Sony Corp (ADR) (NYSE:SNE) has announced that they are aware of a problem with their Playstion Network. For those of you addicted whatever games you may have received over the holidays, today certainly isn’t a good one. The Playstation Network has been experiencing widespread issues affecting PS4, PS3 and Vita users since this morning. All PSN services are a part of this outage according to the company.

According to Sony’s (NYSE:SNE) live Network Tracker, the issues are still a concern, and the company has not put out a statement regarding the potential length of these outages. While the first outages were reported at around 11 am ET, the bulk of the issues have been reported after 4 pm ET and seem to primarily be confined to Europe and the United States. The stock increased 0.49% or $0.12 during the last trading session, hitting $24.73. About 2.46 million shares traded hands or up 138.83% from the average. SNE has declined 20.41% since May 29, 2015 and is currently downtrending. It has underperformed the S&P500 by 17.40%.

From a total of 2 analysts covering Sony Corp (NYSE:SNE) stock, 2 rate it a “Buy”, 0 a “Sell”, and 0 a “Hold”. This means that 100% of the ratings are positive. Sony Corp was the topic of 3 analyst reports since August 16, 2015 according to the firm StockzIntelligence Inc. Nomura maintained shares on September 4 with a “Buy” rating. JP Morgan maintained SNE stock in a recent report from August 16 with a “Overweight” rating.

Sony Corporation is engaged in the development, design, manufacture, and sale of various kinds of electronic equipment, instruments, and devices for consumer, professional and industrial markets, as well as game consoles and software. The company has a market cap of $31.45 billion. The Company’s divisions include Mobile Communications, Game & Network Services, Imaging Products & Solutions, Home Entertainment & Sound, Devices, Pictures, Music, Financial Services and All Other. It has 35.76 P/E ratio. The Company’s manufacturing facilities are located in Asia, including Japan.

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