Another Blow For Sony: Consumer Electronic Companies May Seek Damages for Battery Recall

Excerpt from our Wall Street Breakfast, a one-page summary of this morning's key market-moving and stock-moving stories:

Fujitsu, Toshiba, Hitachi May Seek Compensation from Sony [USATODAY]

Summary: The major Japanese consumer electronics companies Toshiba, Fujitsu and Hitachi announced on Monday they are considering seeking compensation from Sony for the massive recall of their lithium-ion battery-packs. The companies are also looking into ways to offset damage to their brand names and their businesses. After discovering that Sony's batteries had a tendency to overheat and possibly catch fire, computer companies have been forced to recall nearly 7 million Sony batteries worldwide; the largest recalls have been from Dell and Apple. These companies, and Lenovo/IBM, are not currently seeking compensation. Sony was also forced to delay its release of PlaySation 3 in Europe due to production issues. Sony's stock dropped dramatically recently, but was up to $41 on Monday.
Related links: Sony's Recall Costs Mounting • Sony's PS3 Delay • Bloomberg: Sony's battery recall squeezes market • CNET: Sharp starts laptop battery recall
Potentially impacted stocks and ETFs: Sony (SNE), Fujitsu Limited (FJTSY), Toshiba (TOSBF), Hitachi (HIT), Dell (DELL), Apple (AAPL), Sharp Corp. (SHCAY), Lenovo (LNVGY), IBM (IBM)

Seeking Alpha's Wall Street Breakfast summarizes today's key market- and stock-moving news. Receive it by email every weekday morning (free/no spam).

Seeking Alpha is not affiliated with USATODAY.