Sony (NYSE: SNE) kept the top spot in the Flame Index as concerns about the shutdown of its PS3 network failed to subside. Sony could face $1 billion in liabilities. The Japanese company says the service will not be back online for three weeks. Microsoft (NASDAQ: MSFT) was a close second as new spread that it bought Skype for $8.5 billion.
H&R Block (NYSE: HRB) was punished because of concerns about it former subprime portfolio. Systemax fired one of its division executives who was involved in a scandal. Quest Diagnostics paid $211 million to settle a suit which claimed it over-billed customers.
The Flame Index started as a research tool in 2008 at the NY Innovation Design Lab (nyidlab). It was used as a general metric to evaluate companies and their risk in the media. Publicly traded Fortune 500 companies are used as a measure to calculate an overall market of negative news and the companies are ranked within that market.
|Rank||Company||Ticker||Score||Change in Rank||Comments|
|1||Sony Corporation||SNE||27.981||+1||Playstation network still a mess|
|2||Microsoft||MSFT||25.05||+23||Buy Skype for $8.5 billlion|
|3||Fannie Mae||FNMAS||23.993||-2||Fear about breakup|
|4||Bank of America Corp.||BOA||22.543||+6||Large $850 billion portfolio drag|
|5||Warner Music Group||WMG||22.023||-2||About to be sold|
|6||Community Health Systems||CYH||20.631||+122||Walks away from Tenet deal|
|7||Forest Laboratories||FRX||19.851||+102||May face legal action on blood pressure drugs|
|8||H&R Block||HRB||19.612||+707||Problems with subprime portfolio|
|9||Massey Energy||MEE||19.176||+11||More concerns about mine safety|
|10||Boeing||BA||18.868||+37||Will 787 ever fly?|
|8||H&R Block||HRB||19.612||+707||Portfolio concerns|
|14||Alcatel Lucent||ALU||17.997||+172||Societe Generale downgrades shares|
|17||Quest Diagnostics||DGX||17.684||+674||legal issues|
|21||News Corp||NWSA||17.44||+242||YouTube starts video rental|
Data and ranking provided by the Flame Index.