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

Merrill Lynch

downgrade, but a Sun executive in Asia dismissed the Merrill report, according to

Reuters

.