Rochester, NY 7/15/2009 2:39:45 AM
JAVA - Sun Micro earnings to miss forecasts; Oracle unfazed
Sun Microsystems Inc., JAVA
Sun Microsystems Inc., JAVA
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Sun Microsystems Inc warned that quarterly results will sharply miss Wall Street projections, but the news did not appear to faze Oracle Corp, which is buying the company for $7 billion. Oracle, the world's No. 3 software maker, said on Tuesday that it had reviewed Sun's preliminary results and reiterated its expectation that the acquisition would add to profit in the first full year after the deal closes. Still, Sun's warning to investors underscores concerns that Oracle faces an uphill battle in turning around the money-losing company, whose market share has been declining for years as it lost business to International Business Machines Corp, Hewlett-Packard Co and Dell Inc
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