JAVA Plunges 20%+ – Zacks Tale of the Tape
Source: http://www.zacks.com/stock/news/18885/JAVA+Plunges+20%25%2B+-+Zacks+Tale+of+the+TapePosted on Monday, April 6th, 2009 | In Stocks to Watch
Sun Microsystems Inc. (JAVA) is far and away the biggest percentage decliner in the S&P 500 on Monday, as shares plunged more than 22% on news reports that its acquisition by IBM may not come to pass.
The acquisition, which would have been the biggest in IBM’s history, was purported to have a value of $7 billion.
According to The Wall Street Journal, the weekend was busy for these companies as Sun’s board rejected a formal acquisition offer on Saturday. JAVA also said it was ending its exclusivity agreement with IBM, allowing the company to be courted by other companies.
IBM then broke off negotiations, according to reports. However, the situation remains “fluid”.
JAVA is a Zacks #3 Rank (”Hold”) company.
While today’s stiff share price collapse is dramatic, it will not have much of an impact on JAVA’s Zacks Rank, which is a measure in the change of earnings estimates.
“JAVA” Free Stock Analysis: Buy? Sell? Hold?
Zacks Investment Research
Last 5 posts by James Giaquinto
- Top Performer for Thurs: Select Comfort (SCSS) - Zacks #1 Rank Top Performers - November 19th, 2009
- Top Performer for Wed: Chico's (CHS) - Zacks #1 Rank Top Performers - November 18th, 2009
- Top Performer for Tues: Conexant Systems (CNXT) - Zacks #1 Rank Top Performers - November 17th, 2009
- Top Performer for Mon: Group 1 Automotive (GPI) - Zacks #1 Rank Top Performers - November 16th, 2009
- Top Performer for Fri: American Apparel (APP) - Zacks #1 Rank Top Performers - November 13th, 2009
Ibm, Sp 500, Stocks to Watch, Sun Microsystems Inc.;, The Wall Street Journal, USD, Zacks Market Commentaries
 About James Giaquinto (http://www.zacks.com/)
James Giaquinto is an Editor at Zacks Investment Research. |
No recommendations, either expressed or implied, are being made to buy, sell, hold or short any of the mentioned stocks. No legal, tax or accounting advice is expressed or implied. Always contact your attorney, CPA, or tax advisor before acting on any legal or tax issues. StraightStocks.com is not responsible for the content, products, or services of any of the advertisers on this site. StraightStocks.com receives compensation from advertisers on this blog. Services and products referred to herein are trademarks, registered trademarks, servicemarks, and/or registered servicemarks of their respective trademark or servicemark owners.