Sun Microsystems (JAVA) NewsBite - EU Opens Investigation of Oracle-Sun Deal

Posted: Thursday, September 03, 2009 11:26 AM EDT

Sun Microsystems (NasdaqNM: JAVA) opened at $9.10. So far today, the stock has hit a low of $9.10 and a high of $9.17. JAVA is now trading at $9.14, down $0.19 (-1.98%). Over the last 52 weeks the stock has ranged from a low of $2.60 to a high of $9.55. JAVA shares are declining today on news that European Commission will open an antitrust investigation into Oracle Corp.'s (ORCL) planned acquisition of JAVA on concerns the deal will decrease competition in the database market. Technical indicators for the stock are neutral and S&P gives JAVA a neutral 3 STARS (out of 5) hold ranking. We will just watch this one for now. There are no hedged trades we like the look of for JAVA. [ABR-Seven Summits Strategic Investments NewsBite]

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