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Sony shares rise on HD-DVD death

Tuesday, 19th February 2008 20:49 GMT By Patrick Garratt

According to this, Sony’s shares rose up to 5 percent on the NYSE this morning on the news that Toshiba has pulled out of the next gen movie disc race.

“We believe Blu-ray’s victory could drive market share gains for the PS3, as we believe consumers will now be more willing to pay up (versus 360) for the standard Blu-ray player,” said William Blair analyst Ralph Shackart.

Sony US shares rose to a session high of $47.07 in early trade on the NYSE before easing to $46.30, up $1.52, or 3.4 percent from the Friday close. On Monday, markets were closed due to the President’s Day holiday.

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2 Comments

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  1. DrDamn

    Heh, didn’t Toshiba share go up 6%? Maybe Sony shoulda pulled out ;)

    #1 6 years ago
  2. patlike

    Everyone’s a winner :D

    #2 6 years ago