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Investing

Sun Microsystems Reflects Ticker Change Over 1-4 Reverse Split (JAVA, JAVAD)

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By Douglas A. McIntyre Updated Published
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Sun Microsystems (NASDAQ:JAVA) (NASDAQ:JAVAD) traders may have a bit of identity crisis for the next month as the stock will begin trading ex-split to reflect its previously approved 1 for 4 reverse stock split.  The high-end server maker and owner of the rights to Java will temporarily change its stock ticker to "JAVAD" to reflect its 1 for 4 reverse stock split.  The "D" added on will trade that way for twenty trading days before reverting back to the "JAVA" ticker.

Any fractional shares will be paid out in cash rather than in fractions of a share.  Based upon a $5.14 close, this would in theory have a $20.56 equivalent open if there were no price change.

Keeping the books at the company is about to get much simpler.  The total of authorized number of shares of common stock will be reduced from 7,200,000,000 to 1,800,000,000.  The par value of common stock would change from $0.00067 to $0.001 per share.

Unless the stock takes another severe haircut, it looks like Sun Microsystems won’t be appearing in the "10 Stocks Under $10" newsletter any longer.

Jon C. Ogg
November 12, 2007

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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