YOU ARE HERE: LAT HomeCollections

Wall Street Roundup

Sun Microsystems' new ticker: JAVA

August 24, 2007|From Times Staff and Wire Reports

Sun Microsystems Inc., the world's third-largest maker of server computers, said Thursday that it would change its ticker symbol on the Nasdaq Stock Market to JAVA from SUNW, effective Monday.

The new ticker reflects Sun's 12-year-old Java programming language, which is available free. Santa Clara, Calif.-based Sun created Java to let developers write software that can run on different devices and operating systems.

There are 6 million Java developers, and the language is used in 5.5 billion devices, including personal computers and mobile phones, according to Sun.

"Java touches nearly everyone -- everyone -- who touches the Internet," Chief Executive Jonathan Schwartz said in a blog post announcing the change. "The number of people who know Java swamps the number of people who know Sun."

SUNW, in use since the company went public in 1986, originally stood for Stanford University Network Workstations.

Sun shares rose 7 cents to $4.93 on Thursday. The stock is down 9% year to date.

The price reached its zenith of $64.31 on Sept. 1, 2000, and crashed to a low of $2.42 in October 2002 amid the tech stock meltdown.

Los Angeles Times Articles