News Summary for Monday, July 2, 2012
THQ and Sony are both circulating in the news today, as THQ struggles to keep its stock listed while Sony makes an acquisition. Read on for more details...
- THQ will perform a 1-for-10 reverse stock split as of the opening of NASDAQ trading on July 9. This is typically a last-ditch effort to bring a stock price in compliance with exchange mandated minimums.
- Sony announced that it plans to acquire Gaikai, a company providing cloud-based game streaming, for approximately $380 million.