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Technology Stocks : All About Sun Microsystems

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To: Andrew Danielson who wrote (13845)	1/21/1999 7:38:00 PM
From: Gary Wisdom	Read Replies (1) of 64865

CBS Marketwatch take (you can't make everyone happy, can you?) Sun Q2 sales come up a bit short By Brenon Daly, CBS MarketWatch Last Update: 6:19 PM ET Jan 21, 1999 NewsWatch PALO ALTO, Calif. (CBS.MW) -- Shares of Sun Microsystems headed lower in after-market trading Thursday after second quarter sales came in lower than analysts expected. The company (SUNW) said revenue increased 14 percent to $2.78 billion. That lagged the 16 percent growth projection from Goldman Sachs analyst Laura Conigliaro. The company said in a release that it earned $273.2 million, or 67 cents per share. That was a penny ahead of the consensus estimate of analysts surveyed by First Call. The company also announced a 2-for-1 stock split. A shareholder vote on the split is scheduled for March 17, and would give Sun 770 million shares outstanding. Sun shares have nearly doubled over the past three months, but have weakened in recent sessions. The stock fell 7 1/8 to 98 1/4 on Thursday ahead of the release, and headed lower in after-market trading.

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