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Technology Stocks : All About Sun Microsystems

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From: Arthur Tang	7/27/2007 5:16:06 PM
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Sunw short interest is back near 40 million shares back from the temporary reduction to 29 million in June. Nice move in July attracted more buying of borrowed stock. Company wants to buy back shares upto $3 billion, which is bullish, but will only increase short interests. The current anticipation is 5-6 cents earnings on $3.84 billion sales. I say some reason will be given for more pull back. Today, the pull back is anticipated in sympathy to gloom or doom. Also the short interest increase means, market makers have to suppress the price below the cost of borrowed stock. As usual, management had just been able to make the turn around stick. The borrowed stock situation and buy back is not going to help to have nice moves for stockholders' value.

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