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Strategies & Market Trends : Three Amigos Stock Thread -- Ignore unavailable to you. Want to Upgrade?

To: Ditchdigger who wrote (21463)	10/18/2000 12:35:05 PM
From: Ditchdigger	Respond to of 29382

"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, linking to a dead page, 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. Shortly after noon, the earnings posting disappeared from Sun's site. Calls to Sun representatives weren't immediately returned. Monday, Novellus (NVLS:Nasdaq - news) apparently mistakenly released its earnings early on its site, provoking a selloff in its shares. -------------------------------------------------------------------------------- Send letters to the editor to letters@thestreet.com. Read our conflicts and disclosure policy. Order reprints of TSC articles. Top RELATED STORIES Hardware & PCs EMC Posts a Strong Third Quarter, but What Good Is It? 10/18/00 10:07 AM ET The stock plunges along with the rest of the Nasdaq Wednesday morning. Hardware & PCs Anxious Investors Look for Sun, EMC to Rise in the East 10/17/00 7:24 PM ET These big tech leaders should provide some much-needed stability with earnings Wednesday."