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Technology Stocks : All About Sun Microsystems -- Ignore unavailable to you. Want to Upgrade?

To: Charles Tutt who wrote (40611)	1/19/2001 12:37:50 PM
From: DiViT	Respond to of 64865

SG Cowen downgrades Sun Microsystems to neutral NEW YORK (Reuters) - SG Cowen said Friday it downgraded its investment opinion on shares of Sun Microsystems Inc. (NasdaqNM:SUNW - news) after the network computer maker posted profits that met expectations but reported sales that fell short of higher targets. Analyst Richard Chu downgraded Sun to a ``neutral'' rating from a ``buy,'' SG Cowen said. On Thursday, Sun said sales for the remainder of the fiscal year could be slightly less than predicted earlier but new products and a tougher economic environment would catalyze Sun market share gains. The company reported second-quarter income of 16 cents per share excluding one-time items, in line with expectations. Shares of Sun closed Wednesday at $34-7/8, off a year high of $64-11/16 but up from a low of $25.