Tech
Sun cuts earnings, revenue targets
Sun Microsystems drastically slashed financialtargets for the current quarter and announced astock buy-back.During a Thursday conference call with analysts,executives for the maker of servers and networksoftware said they now expect the company to reportearnings of 7 to 9 cents per share, or possibly less thanhalf of what Wall Street expected.
Sun Microsystems drastically slashed financial targets for the current quarter and announced a stock buy-back.
During a Thursday conference call with analysts, executives for the maker of servers and network software said they now expect the company to report earnings of 7 to 9 cents per share, or possibly less than half of what Wall Street expected. Analysts surveyed by First Call predicted a profit of 15 cents per share for Sun's fiscal third quarter, which ends in March. Full story. -- Sergio G. Non, ZDNet Inter@ctive Investor