Sun Earnings to Scare Moss Off Rock
Looks like Sun’s last quarterly report as an independent company will be among the company’s ugliest. Sun, which is to be acquired by Oracle in a $7.4 billion deal, said Tuesday morning that its fiscal fourth-quarter loss will be far steeper than the one Wall Street has been expecting.
The company says revenue for the quarter will fall between $2.58 to $2.68 billion–down from $3.7 billion a year ago and well under the $3.03 billion for which analysts have been calling. And it expects a loss of six cents to 16 cents per share on a non-GAAP basis. That’s pretty ugly when First Call consensus has been predicting a loss of a penny per share.
What was it Oracle wants with Sun, again?
Sun (JAVA) shareholders are set to vote on the Oracle (ORCL) acquisition this Thursday.