Video game shares take a hit as PlayStation price cut rumors mount

August 18th, 2009 Sony cuts price of PlayStation 3 by $100NEW YORK — After months of rumors and anticipation, Sony says it's slashing the price of the PlayStation 3 by $100 to $299. Sony Corp. said Tuesday it will cut the price of the currently available 80 gigabyte PlayStation 3 effective immediately.

August 14th, 2009 Sector Snap: Stocks shrug off low video game salesNEW YORK — Investors seemed to look past dismal July video game sales on Friday to expectations of a better second half to the year, with shares of game makers holding up despite the fifth straight month of declines. Market researcher NPD Group reported a 29 percent drop in sales of game hardware, software and accessories Thursday, an even steeper decline than analysts were expecting.

August 19th, 2009 Summary Box: Sony cuts price of PS3 by $100GEARING UP FOR HOLIDAYS: Sony Corp.'s move to cut the price of its PlayStation 3 console by $100 comes well ahead of the holiday season and should boost sales not just for Sony but the video game industry as a whole during this important period. LONG EXPECTED: The 80-gigabyte PS3 will now cost $299 and a slimmer, lighter one is planned for the same price.

August 5th, 2009 On the Call: EA CEO John RiccitielloVideo game publisher Electronic Arts Inc. posted better-than-expected results for its fiscal first quarter Tuesday, and reaffirmed its adjusted guidance for the full fiscal year.

September 14th, 2009 Startup lets you play console video games remotelySAN FRANCISCO — As any a video game aficionado knows, it's easy to pop a game into your Xbox 360 or PlayStation 3 and spend hours working your way from one level to the next. Without the hefty console, though, you're out of luck if you want to keep blasting those aliens while away from home.

September 24th, 2009 Sony to launch new motion controller next springNEW YORK — Sony plans to release a new motion controller next spring for the PlayStation 3 video game console. The controller will work with the PlayStation Eye camera, which can track players' voices, faces and body motion.

June 3rd, 2009 Sony shows off motion controller at E3LOS ANGELES — Sony has conjured a new controller at the Electronic Entertainment Expo. The PlayStation maker unveiled a prototype wand-shaped motion controller at their splashy E3 presentation Tuesday at the Shrine Auditorium in Los Angeles.

August 4th, 2009 OC man charged with modifying video game consolesLOS ANGELES — A Southern California college student has been arrested on federal charges that he illegally modified video game consoles to enable the machines to play pirated video games. The U.S. Attorney's Office says 27-year-old Matthew Crippen was released Monday night after posting $5,000 bond.

September 25th, 2009 Shanda Games IPO gets tepid receptionNEW YORK — Shanda Games Ltd., a Chinese video game company, raised $1 billion Friday in the largest initial public offering of the year. The company offered more shares than expected, but got a lackluster reception.

September 11th, 2009 NPD: Video game sales slide again in AugustNEW YORK — Retail sales of video games have declined for six straight months. Analysts are blaming the slow August — which was expected — in part on a disappointing showing from the latest "Madden" title from Electronic Arts.

September 25th, 2009 Shanda Games to launch this year's biggest IPONEW YORK — Shanda Games Ltd., a Chinese video game company, raised $1 billion Friday in the largest initial public offering of the year. The company offered more shares than expected, but got a lackluster reception.

April 28th, 2009 Company pulls plug on 'Fallujah' video gameNEW YORK — The publisher behind a video game based on one of the Iraq war's fiercest battles has pulled the plug on the title, called "Six Days in Fallujah." A spokeswoman for Japanese game company Konami Digital Entertainment Inc. confirmed that the company is no longer publishing the game, which was set to go on sale next year.

August 19th, 2009 Sony cuts PS3 price around world, offers upgradeTOKYO — Sony Corp. slashed the price of the PlayStation 3 around the world in a move that analysts said is likely to boost sales of the game console while not adding much to its money-losing earnings.

August 20th, 2009 GameStop posts disappointing profit, cuts outlookGRAPEVINE, Texas — GameStop Corp., the world's largest video game and entertainments software retailer, posted disappointing fiscal second-quarter results on Thursday and lowered its full-year earnings forecast, citing fewer hit video games and cautious consumers. Shares tumbled in morning trading.

August 19th, 2009 Electronic Arts CEO says PS3 price cut great moveNEW YORK — John Riccitiello, the CEO of video game publisher Electronic Arts, says Sony's decision to cut the price of the PlayStation 3 is a "bold move done precisely at the right time." Sony Corp. said Tuesday it is cutting the price of the console by $100, bringing the 80-gigabyte version to $299 effective immediately.