NEW YORK (TheStreet) -- Shares of Sony Corp. (SNE) are lower by 2.55% to $20.60 in mid-afternoon trading on Friday, as CNBC.com reports that the FBI has said North Korea is responsible for the hack against the movie studio.
The FBI said that they have gathered enough information and are able to conclude that North Korea was behind the security breach.
North Korea's hack was likely in response to the company's film, which stars James Franco and Seth Rogen as journalists hired by the CIA to assassinate North Korea's leader Kim Jong-Un, during an interview.
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Sony has canceled the release of "The Interview". President Obama called the move "a mistake" today during his year end address, CNBC.com added.
The president said that he wished Sony had come to him before making the decision to pull the movie.
"Sony's a corporation that suffered significant damage, there were threats against its employees," Obama said, CNBC.com noted. "I am sympathetic to the concerns that they faced, but having said all that, yes, I think they made a mistake."
Separately, TheStreet Ratings team rates SONY CORP as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:
"We rate SONY CORP (SNE) a HOLD. The primary factors that have impacted our rating are mixed some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its solid stock price performance and largely solid financial position with reasonable debt levels by most measures. However, as a counter to these strengths, we also find weaknesses including feeble growth in the company's earnings per share, deteriorating net income and disappointing return on equity."