Friday, "Business Week" has cited an unnamed hedge fund manager as saying, Sun Microsystems CEO Scott - McNealy (Scott McNealy) is to consider the funding Silver Lake Partners Group, the company private, Silver Lake Partners investment group has acquired Seagate Technology Inc. and eventually re-marketed.
McNealy is now denied the reports, which he called "completely unfounded rumor," is a wish to profit from the stock market as part of a conspiracy. According to "Business Weekly" reported that the manager is expected Sun Microsystems Inc. stock price will reach 5-5.50 dollars / share, well above the 3.44 dollar / share's closing price. In an email sent the day McNealy said the rumor is the company's stock price to rise from the profit of the conspiracy part of the day at 8 am Pacific time shares rose 36 cents, or 11% in week five had also reached a higher stock price earlier this price.
McNealy said, do not know why, like "Business Week" worthy of trust such journals will quote an anonymous hedge fund manager code to boost stock prices rise out of unfounded rumors? The manager affirmed that he bet on the "Business Weekly" reported happy dancing, as he rose from the morning to profit 0.42 U.S. dollars / share. Although Sun has stopped the trend of declining revenues, but this Santa Clara, Calif. company is still facing slow growth in revenue and profit situation.
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