Sun Bounces 7% off Low
Sun Microsystems
hit a 52-week low of $19.19 but turned higher and was up 7% in late morning.
The computer company is due to hold a conference call after the close and investors widely expect Sun to lower its guidance.
The stock fell sharply Wednesday on a
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Merrill Lynch
downgrade, but a Sun executive in Asia dismissed the Merrill report, according to
Reuters
.
