Feeds

Sun stock goes degenerate dwarf

Not a stellar showing

Secure remote control for conventional and virtual desktops

Sun Microsystems' shares took a bath today, slipping nearly 23 per cent after the company surprised investors with its worst financial results in over a year. The market reaction sent Sun stock down to its lowest point in nearly six years.

Late Thursday, Sun reported it was back in the red with a net loss of $34m for this year's third quarter. The company blames stagnant sales in the US and expenses from its $1bn purchase of MySQL.

Sun forecast flat revenue for the current quarter, and also announced plans to lay off between 1,500 and 2,500 workers to lower costs over the coming year.

"The U.S. economy presented Sun with significant challenges in the third quarter, masking our progress in developing nations and economies across the world," said Sun CEO Jonathan Schwartz. "We continue to invest in the future created by open alternatives to proprietary technologies, best exemplified by the acquisition of MySQL. The world is moving to open source innovation, and Sun continues to lead that revolution."

So far, Sun's taken on the open revolution has failed to impress investors.®

Secure remote control for conventional and virtual desktops

More from The Register

next story
Ellison: Sparc M7 is Oracle's most important silicon EVER
'Acceleration engines' key to performance, security, Larry says
Linux? Bah! Red Hat has its eye on the CLOUD – and it wants to own it
CEO says it will be 'undisputed leader' in enterprise cloud tech
Oracle SHELLSHOCKER - data titan lists unpatchables
Database kingpin lists 32 products that can't be patched (yet) as GNU fixes second vuln
Ello? ello? ello?: Facebook challenger in DDoS KNOCKOUT
Gets back up again after half an hour though
Hey, what's a STORAGE company doing working on Internet-of-Cars?
Boo - it's not a terabyte car, it's just predictive maintenance and that
prev story

Whitepapers

A strategic approach to identity relationship management
ForgeRock commissioned Forrester to evaluate companies’ IAM practices and requirements when it comes to customer-facing scenarios versus employee-facing ones.
Storage capacity and performance optimization at Mizuno USA
Mizuno USA turn to Tegile storage technology to solve both their SAN and backup issues.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
Beginner's guide to SSL certificates
De-mystify the technology involved and give you the information you need to make the best decision when considering your online security options.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.