Sony's share price has surged more than 8% since Microsoft's Xbox One reveal as investors reacted negatively to Microsoft's next console while welcoming further streamlining efforts in the PlayStation 4 maker.

At the time of press Sony's stock had jumped 8.8% on the NYSE to $22.82. The company saw an 11% jump in share price following the PlayStation 4's announcement event in February.

It's unclear why the jump occured though Microsoft's focus on entertainment and connectivity options over games - most of which will be announced at E3 - may have provoked the surge. It has also been reported that layoffs have hit Sony Japan though it's currently unclear if Sony Computer Entertainment has been affected. ...

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