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

To: alan james geik who wrote (7705)	2/12/1998 8:43:00 PM
From: J. Plesha	Read Replies (4) \| Respond to of 64865

There is 0ver 11,000 open interest in sun 50 calls expiring on Feb 20. Does anyone believe this has something to do with the stock price? Joe P.

To: alan james geik who wrote (7705)	2/12/1998 9:04:00 PM
From: Flair	Respond to of 64865

Alan & all, - "Sun Microsystems off on remarks to analysts". Reuters Story - February 12, 1998 14:39 NEW YORK, Feb 12 (Reuters) - Sun Microsystems Inc shares fell as much as 6 percent Thursday after the company reiterated the vulnerability of its results to Asia's financial crisis and PaineWebber downgraded the shares, analysts said. Sun Microsystems was down 1-12/16 to 44-5/16 in mid-afternoon trading of more than 10 million shares. Earlier the stock sank as low as 43-15/16. Andrew Neff, an analyst at Bear Stearns & Co, said Sun Microsystems, in meetings with sell-side analysts in the past few days, was "more guarded" than it had been about the extent to which the financial crisis in Asia would affect its fiscal-third-quarter operating performance. "They were more guarded about the third quarter than they had been previously," said Neff. "While things appear on track, they highlighted continuing concerns about Southeast Asia." PaineWebber's Stephen Smith said much the same thing in a report early Thursday downgrading Sun Microsystems shares to neutral from buy. "Although there was little new news in our meeting yesterday after the close with Sun management, we nevertheless came away with the general view that there was more downside risk than upside potential in the current quarter," Smith wrote. Sun Microsystems management also told the analysts that Asia orders were tracking slightly behind the company's expectations for the quarter. The company has about seven weeks left in its third quarter. Officials at Sun Microsystems were not immediately available for comment.