Sun's stock drops sharply after 73% drop in profits

Discussion in 'News' started by FSOwner, August 1, 2008.

  1. FSOwner

    FSOwner FS Owner

    A slowing economy has led computer server and software manufacturer Sun Microsystems to post a 73 percent drop in net income for its fourth fiscal quarter. So far in 2008, the company's stock has lost almost half of its value and most recently dropped 13 percent down to $9.24 per share.

    Sun's share price hit a high point in October at $25.04, but has suffered a sharp decline since then. It bottomed out at $8.63 in the middle of last month, but had climbed to nearly $11 before Friday's earnings call.

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