This a link for indian express(free registration is required). Then click on the P11-Business link in the left hand navigation. [ April 26, 2006: Message edited by: Anjali S Sharma ]
posted 14 years ago
I'm not familiar with the indian express, but you may have heard of the New York Times: Times article
In it, I found this interesting: Mr. Schwartz [the new chief executive] contends that Java is the No. 1 driver of growth at Sun, ahead of Solaris, its operating system for corporate computers. "More teenagers recognize Java than they do Microsoft, because that is what they have in their pocket on their cellphone,"
According to CNet news revenue increased, as it was expected after the acquisition of StorageTek, however there have been losses. Anyway, as far as I can seen the stock price has kept between 4 and 5 dollars for a while.
As far as I understand, the guy is not actully leaving. He's been in the company quite a long time, and now he is stepping aside to give a chance to Schwartz. But, the guy will keep in the company.
Whatever the case, this companies are so incredibly big, that I wouldn't worry for a change like this. If something I have discovered so far, it is that nobody is indispensable.
A $217 million loss for a company with $4 billion in cash reserves alone is not scary news. Disappointing, of course, but not scary. Imagine losing 5% of your savings account. You wouldn't like it, but you wouldn't freak out, either.
Make visible what, without you, might perhaps never have been seen. - Robert Bresson
Originally posted by Michael Ernest: A $217 million loss for a company with $4 billion in cash reserves alone is not scary news. Disappointing, of course, but not scary. Imagine losing 5% of your savings account. You wouldn't like it, but you wouldn't freak out, either.
The $217 mil is a quarterly loss. At this rate, the company would lose $868 mil in a year. What's worse, Sun has not made a penny in profit since 2001. The analysts do predict a 1 cent per share profit in 2007, but even if that happens the stock is still way overpriced at P/E ratio of 498 (todays price of $4.98 divided by the expected 1 cent profit).