Sun Continues to Slide as Goldman Cuts Estimates

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Sun Microsystems (SUNW) - Get Report was down 3% but off its lows in early trading. It was the second-most active stock on the Nasdaq after Cisco (CSCO) - Get Report.

On Friday, Sun warned of a wider-than-expected loss for the first quarter and said it is cutting another 9% of its workforce.

This morning, Goldman Sachs lowered its 2001 estimates for Sun to a per-share loss of 6 cents from breakeven on revenue of 12.8 billion, down from $13 billion. Goldman also cut 2002 estimates to 16 cents from 24 cents, and revenue to $14.4 billion from $14.6 billion.

Router leader and tech bellwether Cisco was down 0.5%, also off its low for the morning.