Sun Changes Nasdaq Symbol To Java; Will Stock Perk Up? - InformationWeek
IoT
IoT
Software // Enterprise Applications
News
8/23/2007
02:53 PM
Connect Directly
Twitter
RSS
E-Mail
50%
50%

Sun Changes Nasdaq Symbol To Java; Will Stock Perk Up?

Sun hopes that trading for the better-recognized Java name will result in higher trading in the stock market.

Sun Microsystems is going to leave the roots of its name -- Stanford University Network -- behind and change its listing on the Nasdaq stock exchange from SUNW to JAVA.

Actually, SUNW reflects Sun's early position as a Unix workstation supplier: the W in its current Nasdaq symbol stands for workstation. Sun co-founder Andy Bechtolsheim designed a Unix workstation as a Stanford graduate student to run on the Stanford University Network.

CEO Jonathan Schwartz said in his blog Thursday that the existing trading symbol "has some nostalgic value and heralds back to Sun's cherished roots (in academia). ... But SUNW represents the past, and it's not without a nostalgic nod that we've decided to look ahead," he wrote. The trading-name change will take place next week. The company name, however, will remain Sun Microsystems.

Schwartz cited Java's growing brand awareness among young people, who see the Java symbol displayed on video uploader applications or Java game consoles. Java also appears on Java smartphones and other mobile devices. "The number of people who know Java swamps the number of people who know Sun," he wrote.

"There are more Java courses on university campuses than we ever imagined. Wherever it goes, Java brings limitless opportunity -- to Sun and to our partners," he wrote.

Sun programmers under James Gosling developed Java in the mid-1990s and established it in the marketplace. It jousted with Microsoft in court to prevent the company from launching a Windows-specific version of Java, settling the dispute out of court with payments to Sun.

Sun itself was a preferred brand during the dot-com boom, with Sun Solaris servers and the Java programming language being a common part of dot-com infrastructure. But the 2001 bust hit Sun hard, including its stock price. It's recovered somewhat from its January 2003 lows in the $2.60 range, but Sun is clearly hoping the Nasdaq name change will give it a boost. Its stock was trading at $4.90 by late afternoon Thursday, still at the low end of its $4.50 to $6.78 12-month range.

Comment  | 
Print  | 
More Insights
Comments
Newest First  |  Oldest First  |  Threaded View
How Enterprises Are Attacking the IT Security Enterprise
How Enterprises Are Attacking the IT Security Enterprise
To learn more about what organizations are doing to tackle attacks and threats we surveyed a group of 300 IT and infosec professionals to find out what their biggest IT security challenges are and what they're doing to defend against today's threats. Download the report to see what they're saying.
Register for InformationWeek Newsletters
White Papers
Current Issue
2017 State of the Cloud Report
As the use of public cloud becomes a given, IT leaders must navigate the transition and advocate for management tools or architectures that allow them to realize the benefits they seek. Download this report to explore the issues and how to best leverage the cloud moving forward.
Video
Slideshows
Twitter Feed
InformationWeek Radio
Archived InformationWeek Radio
Join us for a roundup of the top stories on InformationWeek.com for the week of November 6, 2016. We'll be talking with the InformationWeek.com editors and correspondents who brought you the top stories of the week to get the "story behind the story."
Sponsored Live Streaming Video
Everything You've Been Told About Mobility Is Wrong
Attend this video symposium with Sean Wisdom, Global Director of Mobility Solutions, and learn about how you can harness powerful new products to mobilize your business potential.
Flash Poll