CEO Jonathan Schwartz

Fitch Ratings lowered its outlook for Sun Microsystems Inc. to "evolving" from "positive" on Tuesday after European regulators objected to Oracle Corp.'s plans to take over the company. Fitch said it would likely knock Sun's rating down by two notches if the deal falls apart. The company has a "BBB-" rating, one step above non-investment, or "junk" grade. The European Commission is worried that Oracle's $7.4 billion takeover bid could harm competition in the database market. Fitch noted the commission's formal objection "could ultimately preclude Oracle Corp. from consummating its proposed acquisition," which it said would be terrible news for Sun. The company is ... Read Full Story

India news iPodGod 41 minutes ago ( http://us.rd.yahoo.com ) View profile Category : Science/Tech AP - European Union regulators said Friday that they have extended until Jan. 27 a deadline to wrap up their antitrust review of Oracle Corp.'s planned $7.4 billion takeover of Sun Microsystems Inc. Tell a friend   Bury Read Full Story

AP – European Union regulators said Friday that they have extended until Jan. 27 a deadline to wrap up their antitrust review of Oracle Corp.’s planned $7.4 billion takeover of Sun Microsystems Inc. See the original post here: (AP)"> (AP)"> (AP)">EU extends Oracle/Sun review deadline until Jan 27 (AP) Read Full Story

NEW YORK (Reuters) - Computer maker Sun Microsystems Inc <JAVA.O> suffered a 25 percent fall in quarterly revenue, as uncertainty over its delayed sale to Oracle Corp <ORCL.O> hurt its business. Lower operating expenses helped Sun Microsystems curb its fiscal first quarter loss to $120 million, or 16 cents a share compared with $1.68 billion, or $2.24 a share, a year earlier, according to a filing with the U.S. Securities and Exchange Commission. But revenue fell to $2.24 billion from $2.99 billion in the same quarter a year earlier, and was lower than the average analyst estimate of $2.34 billion, according to Thomson Reuters ... Read Full Story

Sun Microsystems Inc. plans to eliminate up to 3,000 jobs as it awaits a takeover by Oracle Corp., a deal that is being held up by antitrust regulators in Europe. The layoffs Sun outlined Tuesday in a regulatory filing amount to about to 10 percent of the company's 29,000 workers and will happen over the next year. They are the latest rounds of cuts at the struggling server and software maker, which reached the $7.4 billion deal with Oracle in April after nearly a decade of wobbly financial performance. Sun said in its filing that the layoffs would come from all its major regions, ... Read Full Story