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Technology Stocks : All About Sun Microsystems

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To: Carmine Cammarosano who started this subject	3/5/2004 10:32:15 AM
From: DiViT	Read Replies (1) of 64865

Sun is Junk. Debt downgrade. thestreet.com Sun Hammered by Downgrade By TSC Staff 3/5/2004 9:41 AM EST Shares of Sun Microsystems (SUNW:Nasdaq - commentary - research) were under pressure early Friday after Standard & Poor's cut its $1.3 billion of outstanding debt to junk status. The action is a blow to Sun's turnaround, which had seen the stock go from $4.47 at the start of the year to a Thursday close of $5.16. The shares were recently off 20 cents to $4.96 in early Friday trading. "The downgrade reflects weak and inconsistent profitability, and our expectation that Sun will be challenged to profitably expand its market presence," S&P said in a statement. Sun's debt was lowered to BB+ from BBB and taken off credit watch.

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