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Technology Stocks : All About Sun Microsystems

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To: FlameMe who wrote (36724)	10/18/2000 12:19:16 PM
From: DiViT	of 64865

Sun Rallies as Earnings on Web Site Beat Estimates By TSC Staff 10/18/00 12:14 PM ET Sun Microsystems (SUNW:Nasdaq - news) shares rallied sharply late Wednesday morning after a line appeared on the company's Web site suggesting the server maker would blow first-quarter earnings estimates out of the water. After earlier plunging as much as 9% amid Wednesday morning's Nasdaq selloff, Sun shares were up $5.69, or 5.1%, to $117.06. The posting on Sun's Web site read: Q1. Sun Microsystems Reports EPS Up 88% In Record First Quarter. First Quarter Net Income Grew 85% On Revenue Growth Of 60%. . Those would be some pretty good numbers from Sun, which is due to report after the close. An 88% increase over last years earnings per share of 17 cents would be 32 cents a share, 6 cents better than the First Call/Thomson Financial estimate. A 60% revenue gain would put first-quarter revenue at around $4.99 billion, some $600 million above estimates. Monday, Novellus (NVLS:NYSE - news) apparently mistakenly released its earnings early on its site, provoking a selloff in its shares. thestreet.com

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