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Sun Microsystems (SUNW) was down 7.8% in midafternoon after published reports that the company plans to shut down operations for five days at the start of its fiscal year in July as part of a cost-cutting program. The forced vacation includes the July 4 holiday. The computer server and workstation maker also plans to slash discretionary spending.

The company last week posted third-quarter earnings 43% below the year-ago period on lower-than-expected revenue.