Sun Microsystems (NasdaqNM: JAVA) NewsBite - JAVA-ORCL Review Extended

Posted: Monday, June 29, 2009 9:52 AM EDT

Sun Microsystems (NasdaqNM: JAVA) opened at $9.15. So far today, the stock has hit a low of $9.15 and a high of $9.17. JAVA is now trading at $9.16, up $.15 (1.66%). The stock hit its 52-Week high of $11.20 in June of last year and set its 52-Week low of $2.60 in November. JAVA is higher today after regulators extended their deadline to review the proposed Oracle (ORCL) takeover of Sun. When the deadline passed last week, the outlook for the deal looked grim. Technical indicators for the stock are neutral and S&P gives JAVA a neutral 3 STARS (out of 5) hold ranking. If you are looking for a hedged play on JAVA the stock seems like it could be a candidate for a January out-of-the-money bull-put credit spread below the 7.50 range. [ABR-Seven Summits Strategic Investments NewsBite]

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