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Bear Stearns Keeps 'Neutral' on Sun Microsystems


Bear Stearns maintains neutral on Sun Microsystems (SUNW).

Analyst Andrew Neff says there was no change in the company's guidance, but says Sun is marginally more cautious. The company said order linearity was running behind in the last quarter. Neff says management maintains guidance for a slight sequential increase in revenues and operating margins, ans sees a return to profitability.

Neff also notes in what is normally its strongest quarter of the fiscal year, Sun is not seeing any order improvement. He says his concern is that with a new management team, the company may be slower to respond to the prospect of an economic upturn, and may not execute as effectively through the disarray on a competitive front from the Hewlett-Packard/Compaq integration.


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