Rochester, NY 7/15/2009 2:16:09 AM
JAVA,ORCL- Sun Micro Surprises The Market Forecasting 4Q Loss
Oracle Corporation - Sun Micro
Oracle Corporation, ORCL
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The sun isn't necessarily shining for Sun Micro, who left the market aghast Tuesday, announcing it expects a fourth-quarter loss. This was based, at least in part; they said on charges relating to their planned acquisition by Oracle and expect a loss of 6 cents to 16cents a share.
This surprised the market since several analysts expected a profit for Sun.
This news ripples to other companies and of course Oracle dipped with the news to $20.58.
Quarterly revenues are now expected to be in the neighborhood of $2.58billion to $2.68 billion. Those are rosy projections for many but for Sun whose previous year was $3.78 billion, it's a deep dip.
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