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Sony down on another outlook cut

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Shares of Sony Corp (ADR) (NYSE:SNE) are down this morning after the electronics company indicated a wider than expected first quarter loss and lower full-year earnings outlook. The company cited costs to dispose its PC business as reasons for the earnings estimate cut. This is the third time in six months that Sony has slashed its earnings outlook. For the first quarter of 2014, the company is now expecting a loss of Yen130 billion. The full-year earnings outlook is now at Yen26 billion, which is substantial below the consensus estimate of Yen78.82 billion.