Sun Microsystems tumbles on earnings, KBR soars on results

By Associated Press May 2, 2008 Comments (0)

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Shares of Sun Microsystems Inc. fell sharply in premarket trading Friday after the server and software maker's fiscal third-quarter loss and flat outlook surprised Wall Street.

The company said it lost $34 million, or 4 cents per share, in the period. Analysts polled by Thomson Financial expected, on average, earnings of 18 cents per share.

Shares fell 18 percent to $13.40.

Military contractor KBR Inc. said its first-quarter profit more than tripled, helped by a gain from an arbitration award, sending shares up $3.72, or 13 percent, to $32.25 in premarket trading.

A $22-per-share cash bid for Moldlfow Corp. by design-software company Autodesk Inc. sent shares of the industrial software maker up 11 percent to $21.75.

A Banc of America Securities analyst upgraded shares of RadioShack Corp., predicting the stock will rebound as a new management team continues to improve the electronics retailer. Shares added 5 percent to $15.90.

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DocumentId: 636023, ~/articles/articlehandler.aspx, 7/6/2008 6:38:57 PM, No ticker

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