Volume Spike Investor » JAVA

Top Tech Movers (EBAY, GRMN, LOGI, PLXS, JAVA, ORCL, STX)

247admin — Thu, 21 Jan 2010 13:57:55 +0000

eBay Inc. (NASDAQ: EBAY) ex-Skype figures were up 18% and the company beat estimates and raised guidance. Frankly, after a 125% gain the guidance did not seem strong enough to justify this move, but the market is always stronger than one voice or one opinion. Shares are up 8.8% at $24.20 on 1.47 million shares. (8:46 AM EST)

Garmin Ltd. (NASDAQ: GRMN) is getting o deal with a free navigation tool, this time from Nokia rather than from Google. You know what this will do to the stock on ‘free’ GPS and PND services even if Garmin is a far leader. Shares are down 7% at $33.62 on about 30,000 shares. 8:48 AM EST)

Logitech International (NASDAQ: LOGI) profits rose over 40% on cost cuts and the sales decline slowed; guidance: $500 million and $515 million in sales, gross margin of about 34%, and operating income between $15 million and $20 million. Shares are trading up 0.3% at $18.52 on 173,000 pre-market shares (total average volume is only 1.05 million shares). (8:50 AM EST)

Plexus Corp. (NASDAQ: PLXS) is running higher after posting $0.44 EPS vs. $0.34 estimates and sees next quarter $0.44 o $0.52 EPS vs. $0.31 estimates from Thomson Reuters. Shares are up 7% at $31.02, a new high above the 52-week high of $31.00. pre-market volume is only 37,000 shares versus average volume of 226,000 shares per day. (8:52 AM EST)

Sun Microsystems Inc. (NASDAQ: JAVA) is finally going to be acquired by Oracle Corporation (NASDAQ: ORCL) after the EU figured out they could clear the takeover after a drawn out investigation brought to light that Sun just can’t make it on its own. Oracle is up 0.15% at $25.10 but was up almost 2% in overseas trading at one point this morning. Sun Microsystems is up 0.5% at $9.48 on the news. (8:41 AM EST)

Seagate Technology (NASDAQ: STX) proved that the world is addicted to storage and drives after significantly beating estimates and please on guidance. This sets up a very high bar for rival Western Digital that is reporting earnings after he close. Shares are trading up almost 11% at $19.70 after a $17.76 close, making a new 52-week high above $19.04. We have also seen 624,000 shares. (8:42 AM EST)

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JON C. OGG

Sun & Oracle Suddenly Closer, All Over Again (JAVA, ORCL)

247admin — Mon, 14 Dec 2009 13:40:14 +0000

Sun Microsystems Inc. (NASDAQ: JAVA) is surging this morning on reports that the EU is warming up to the Oracle Corp. (NASDAQ: ORCL) buyout. Apparently Oracle presented its post-merger MySQL plan and it must have been received better than anything else these companies have said. At 8:36 AM EST we have shares trading up 9.8% at $9.18 on over 8.9 million shares. This would be a huge development if pulled off, and would keep Sun Micro’s nervous shareholders from being left holding their you-know-what in their hands. Oracle share are up 0.5% at $22.90, and it has earnings on deck this Thursday.

Jon C. Ogg
December 14, 2009

Sun-Oracle EU Block May Have Flaws (JAVA)

247admin — Fri, 04 Dec 2009 13:16:46 +0000

Sun Microsystems, Inc. (NASDAQ: JAVA) is soaring early this morning. Reuters ran a headline last night that an activist lawyer sees a flaw in the EU case and on a NYPost report that Larry Ellison may be willing to create a separate unit to appease regulators. Yeah, like maybe the notion that Sun can’t make money alone with its open source issues…. At any rate we have shares up strongly this morning. At 8:13 AM EST the stock is up 7% at $8.81 on almost 4 million shares. Average volume here is 14 million shares. This is not a done deal yet, but the EU’s case is proving to make the regulatory body look less and less credible here.

JON OGG

Sun Sort of Holds Up Despite EC Protest (JAVA, ORCL, IBM)

247admin — Tue, 10 Nov 2009 13:50:51 +0000

Sun Microsystems Inc. (NASDAQ: JAVA) and its $9.50 per share buyout by Oracle Corp. (NASDAQ: ORCL) may be further in jeopardy after the Europeans have now officially voiced some concern over the deal. The EC believes that this combined company will have too much market share in the MySQL server software industry. This is a weasel call, but shares are trading around the news. Sun’s shares are actually only down $0.03 at $8.21 in pre-market trading as of 8:45 AM EST and we have already seen over 2.5 million shares trade hands. If this deal gets blocked, it seems very likely that Sun holders will get caught holding the bag. While this is down today it seems to be holding up much better than the implied downside as this was a $5.00 stock before IBM (NYSE: IBM) was interested and before Oracle stepped in.

JON OGG

Sun Microsystems Active on E.U. Roadblock (ORCL, JAVA)

247admin — Tue, 03 Nov 2009 22:19:51 +0000

We have already covered in depth how the European Union may have thrown in another roadblock on the Oracle Corp. (NASDAQ: ORCL) acquisition of Sun Microsystems Inc. (NASDAQ: JAVA). This has caused over 1.04 million shares to trade hands in JAVA stock as of 5:18 PM EST. The stock closed at $8.35 today, and the stock is still down 2.6% at $8.13. At one point after the news broke we had as much as an 8% drop.

Sun Sees Options Activity Increasing (JAVA, ORCL)

247admin — Wed, 21 Oct 2009 18:26:17 +0000

Traders appear to be increasing their bets for and against an ultimate approval of the Sun Microsystems (NASDAQ: JAVA) and Oracle (NASDAQ: ORCL) deal based on the jawboning and fat-chewing that the European Commission is holding the merger up and only making Sun lose more money than it would have. Here is the PUT OPTIONS TRADING:
NOV$   Volume   OpInt
8.00   1,685   2,346
9.00   9,014   19,128
JAN$   Volume   OpInt
6.00   33,535   176
7.50   0   39
7.50   3,074   37,983
9.00   1,492   31,777

There were also 14,050 traded of the JAN-2010 $10 CALLS, versus a prior open interest of 8,734 contracts; we also saw the NOV-2009 $9.00 CALLS trade some 4,366 contracts versus a prior open interest of 21,133 contracts.

JON C. OGG
OCTOBER 21, 2009

Sun Getting Stunned Over EU Probe (JAVA, ORCL)

247admin — Thu, 03 Sep 2009 12:55:41 +0000

Sun Microsystems Inc. (NASDAQ: JAVA) is getting worked liked a punching bag. The E.U. has decided that a very in-depth review and probe is needed in the acquisition by Oracle Corp. (NASDAQ: ORCL). Maybe the E.U. likes for tech companies to lose money and to not do well at most big efforts financially, because that has been the case at Sun Microsystems for the better part of a deacde. Anyhow, shares are down only about 2% as the merger-arb-spread traders are getting out of the way here. Shares are down at $9.11 on over 19 million shares as of 8:52 AM EST. Average volume is about 12.7 million shares. Oracle is getting worked over on a lesser scale as shares are down 0.8% at $21.59 on over 500,000 shares (avg. volume is 30 million shares on Oracle). -JON C. OGG

Major Techs Hitting 52-Week Lows (AAPL, CSCO, EBAY, EMC, GOOG, RIMM, JAVA, YHOO)

247admin — Mon, 06 Oct 2008 13:58:14 +0000

This morning we put out an alert at 24/7 Wall St. showing how many new stocks were hitting 52-week lows. What was shocking was how many major and key technology or Internet names were on the list. You can see the full list of lows here, but here are some of those technology stocks hitting those lows:

Apple (AAPL) fell to $91.11
Cisco (CSCO) fell to $20.10
eBay (EBAY) is down 7% at $17.61
EMC (EMC) sold down to $11.03
Google (GOOG) dropped to $366.58
Research in Motion (RIMM) down almost 8% to under $56.00
Sun Microsystems (JAVA) dropped to $6.51
Yahoo! (YHOO) dropped to $15.17

Jon C. Ogg
October 6, 2008

After-Hours Volume Surge: Sun & Altera (JAVA, ALTR)

247admin — Tue, 15 Jul 2008 21:02:02 +0000

Sun Microsystems Inc. (NASDAQ: JAVA) rocketed after-hours after the company managed to issue better than expected guidance of $0.25 to $0.35 non-GAAP EPS on $3.725 to $3.8 Billion in revenues, compared to estimates of $0.27 EPS and $3.24 Billion in revenues. With more than 60 million shares short and with fresh 52-week lows day after day, this stock rocketed in after-hours trading by almost 14% to $10.00 after an $8.80 close. At 5:05 PM EST this one has traded some 6.4 million shares in after-hours trading.

Altera Corp. (NASDAQ: ALTR) reported earnings of $0.32 EPS on a 7.1% revenue gain to $359.9 million. First Call consensus estimates were $0.27 and $346.7 million. It also issued upside guidance for Q3 with revenue growth at “flat to down 3%” or about $349 to 360 million versus $350.5 million estimates. At 5:05 PM EST this one has traded about 430,000 shares and shares are up 7.6% at $20.68.

Jon Ogg

July 15, 2008