Investing
Sun Microsystems (JAVA): Better Than Expected, But Still Awful
Published:
Sun (JAVA) turned in better-than-expected preliminary earnings, but they were poor nonetheless. Wall St. staged a relief rally. Shares moved up from a close of $8.80 to $9.57 after hours.
Sun expects to report revenues for the fourth quarter of fiscal 2008 in the range of $3.725 to $3.800 billion, as compared with $3.835 billion for the fourth quarter of fiscal 2007. The quarter ended June 30.
That company anticipates reporting GAAP net income per diluted share for the fourth quarter of fiscal 2008 in the range of $0.05 to $0.15.
Sun may have pre-announced revenue early because the stock has been dropping so rapidly lately.
Douglas A. McIntyre
Sponsored: Find a Qualified Financial Advisor
Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to 3 fiduciary financial advisors in your area in 5 minutes. Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests. If you’re ready to be matched with local advisors that can help you achieve your financial goals, get started now.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Editors' Picks
