From gamedaily.com:

Following the news that publisher Electronic Arts cut its outlook and is looking at laying off more staff in the near future, shares in the company fell more than 15 percent in early trading on Wednesday after opening at $16.84. As of press time, ERTS is at $16.35.

A number of analysts have weighed in on the state of EA. Todd Greenwald of Signal Hill notes that EA’s problems are its own and are not the fault of the sour economy. “Titles such as Need for Speed, Mirrors Edge, Rock Band 2 as well as EA’s entire sports lineup appear to be underperforming at retail due to a combination of low quality scores, tired franchises, and limited innovation vs. the prior year’s release,” he said.

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Tags: ea, economy, electronic arts, shares