Sony Corp (ADR) (SNE): Jim Cramer Says Hackers Are Having Fun With Us

Sony Corp (ADR) (NYSE:SNE)’s system was breached by hackers and many vital and confidential information were compromised. Hackers keep revealing information in bits, which started with some controversial mails by Sony Pictures’ Amy Pascal and even the medical information of some employees. Media has been showing a lot of interest in publishing these leaked information. Sony Corp (ADR) (NYSE:SNE) has warned media to stop published these leaked information. CNBC’s Carl Quintanilla, Jim Cramer and David Faber discussed about the story on CNBC.

Cramer defended the leaked emails by Amy Pascal stating that the emails might be some casual conversation between the executives at Sony Corp (ADR) (NYSE:SNE). He mentioned that emails are supposed to be private, and when one views their emails on front page of ‘New York Times’ emails are no longer private.

“When you put something in email, think about it, it’s going to be on the front page of New York Times. There is no expectation of privacy in email, but we always think there is,” Cramer said.

Faber said that the bigger take away in the story is that this is probably the worst hacking of a Corporation on US soil. He feels that there is more to come. Everything started with the movie by Sony Pivtures, ‘The Interview’, which has some controversial content about North Korea, which was strongly opposed by North Korean Government. Many believe that North Korea is behind this hack attack on Sony Corp (ADR) (NYSE:SNE), displaying its opposition to the movie. Faber feels that when the movie actually releases the hackers might reveal more information about the company. He thinks that even after a lot of talking and discussion, there are no stopping these hackers.

Quintanilla pointed at the hacker’s revelation that there is a Christmas present waiting to come. So he feels that the leaked information are just the beginning and there is more coming from them.

“They are just having fun with us, the hackers. They are staging their rollouts,” Cramer said about hackers.

Disclosure: None

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