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Sun Microsystems (JAVA)

Stock (Diversified Computer Systems Industry)

Sun announce $1.7B loss, slowing sales Financial services sales lead the drop. Sun's new SPARC enterprise servers Sun and Fujitsu have released the newest line of SPARC enterprise servers. The new servers deliver almost 80% better performance for commercial applications and uses about 44% less energy per core. Sun plans to cut between 1500 and 2500 jobs Sun will cut between 1500 to 2500 jobs due to the US economic slowdown. Sun will incur between $130M and $220M in Q4 related to these job cuts. Sun Announces Stock Split On Nov 8, Sun announced that shareholders approved a 1 for 4 reverse stock split. The split took effect on November 12 and to reflect this, the company temporarily changed its ticker symbol from JAVA to JAVAD. This change will stay in place for 20 trading days. Sun Beats Quarterly Earnings Estimates Sun post net income of $473MM for the year, up significantly from lst year's negative earnings. Sun announces $3B share repurchase Sun announces $3B share repurchase Sun reports lower than expected 3rd quarter reveue Even though Sun turned a proft, its revenue were lower than expected.

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