Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: Charles Tutt who wrote (14344)	2/17/1999 11:29:00 AM
From: jim shiau	Respond to of 64865

Sun Microsystems Inc. (SUNW) 96 5/8 -3 13/16: shares of supplier of enterprise network computing products as SoundView Technology lowers revenue projections from 22% growth to guidance range given by company of 18% to 21%; firm had been at the top end of the range, but the rest of Wall Street is at the range provided by company in conference call; Bear Stearns says that SUNW comfortable with fiscal Q3 EPS estimate of $0.70, FY99 EPS estimate of $2.80 and FY00 EPS of 3.30 a share.....

To: Charles Tutt who wrote (14344)	2/17/1999 2:20:00 PM
From: Alok Sinha	Respond to of 64865

It appears to be a classic example of stock price manipulation to get the big guys in (or get the price close to a level that any option positions that his firm has is made profitable). No earnings downward revision, no downgrade. Some analyst in his internal model had 22% rev growth instead of 21% (give me a break - even the comapany get its projected growth rate within a point), so he made the change and announced it to the world. Skittish investors start bailing out. This indicates that there are way too many people out there investing based on momentum, and lack of understanding of fundamentals. I don't disagree that valuation may be high by historical standards, but the action today smells of manipulation. I am selling naked Mar 95 puts (for 6 1/2) Regards Alok Alok