EMC (EMC) was down 4.5% in early trading after Goldman Sachs cut estimates on the data-storage company and Sun Microsystems (SUNW) - Get Report, saying it expected the slowing economy to hurt results.

EMC also announced it was cutting 1,100 jobs, or about 4% of its global workforce, in an effort to grow 2001 revenue by at least 20%.

Sun, a maker of Internet servers and workstations, was down 7.9%. Sun is expected to comment today on fourth-quarter results, due in July.

Also, a report in the

Wall Street Journal

Friday said the vice president in charge of open source technology, including Sun's Java language, has left the company to join


, a closely held enterprise software company.