THQ Inc. shares fell as much as 11% Thursday as three analysts cut their ratings on the video-game publisher after it reported a first-quarter loss that nearly tripled from a year ago. The company also forecast a second-quarter loss as some new releases are being pushed back until later in the year. Shares came back from their session lows, but still remained down by 91 cents, or 5.7%, to $15.14.
Shawn Milne of Oppenheimer & Co. lowered his rating to perform from outperform. Milne cited THQ's lower estimates and said he was now "taking a wait and see approach to [THQ's] upcoming key titles," such as its planned October release of "Saints Row 2."