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RealTime IT News

Sun Wins Big In China

Shares of Sun Microsystems jumped 10% after hours Monday on news that the company will help build a nationwide standard desktop software system in China.

Sun said the China Standard Software Co. (CSSC) will use Sun's Java Desktop System as the foundation for standard desktop development and deployment in the People's Republic of China. CSSC is a consortium of Chinese technology companies backed by the Chinese government to produce a nationwide standard desktop software system, and Sun said it is now the CSCC's preferred technology partner for reaching this goal.

CSSC will deliver its own branded desktop products using the Java Desktop System as the foundation for its desktop standards, subject to export approval from the U.S. government. China plans to install at least 200 million copies of an open-standards-based desktop solution throughout the country, starting with 500,000 to 1 million seats per year.

For Sun, which has been battered by concerns about profitability, the win in the world's most populous nation could be a big one.

Also after the close, Agilent beat estimates, and ATI raised guidance.

Stocks fell during the day on increasing global terrorist attacks, following an overnight sell-off in world markets.

The Nasdaq fell 20 to 1909, the S&P 500 lost 6 to 1043, and the Dow dropped 57 to 9710. Volume declined to 1.32 billion shares on the NYSE, but rose 1.87 billion on the Nasdaq. Decliners led 22-9 on the NYSE, and 22-9 on the Nasdaq. Downside volume was 82% on the NYSE, and 75% on the Nasdaq. New highs-new lows were 87-14 on the NYSE, and 131-26 on the Nasdaq.

PC Connection plunged 23% after losing government business.

Roxio fell 12% on a downgrade and possible competition from Microsoft , which may be entering the online music fray.

Oracle and PeopleSoft slipped as the European Commission extended its inquiry into Oracle's takeover attempt.

Advanced Fibre rose 5% after winning a Fibre to the Premises contract from Verizon .

Kulicke and Soffa surged 6% after raising guidance.

Corning fell 4% on mixed guidance.

Sohu edged higher on plans to acquire 17173.com, a Chinese online gaming site.

eBay slipped 2% on plans to acquire Korea's Internet Auction Co.

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