Business briefs: Sun finally profits

Sun Microsystems, the server and software maker, swung to a first-quarter profit that matched Wall Street’s expectations Monday, marking the company’s first full year in the black since the dot-com meltdown. Bolstered by stronger sales of its high-end servers and improved cost controls, Sun Microsystems Inc.’s (JAVA) net income was $89 million, or 3 cents per share for the three months ended Sept. 30.

CITIGROUP

The nation’s largest bank shareholders may have finally gotten what they wanted — the resignation of Chairman and Chief Executive Charles Prince — but Wall Street’s worries are far from over. At an emergency meeting of the Citi board Sunday, Citigroup Inc. (C) announced Prince’s departure, but also estimated it would take additional losses of $8 billion to $11 billion.

businessBusiness & Real Estate

If you find our journalism valuable and relevant, please consider joining our Examiner membership program.
Find out more at www.sfexaminer.com/join/
Previous story
Credit Union Opens New Branch in San Mateo
Next story
Midday stock check: Yahoo takes big hit

Just Posted

Pier 39 aquarium staff furloughed during coronavirus — but what about the fish?

Aquarium of the Bay raising funds from public to keep up operations during shutdown

Ride-hail drivers left idling by coronavirus shutdown

Bay Area ride-hail drivers are among those who have been hit hardest… Continue reading

Navigation shelter resident tests positive for coronavirus

Homeless advocates repeatedly warned about an outbreak in congregate settings

CCSF taps first Asian American woman to lead as interim chancellor

City College reached a settlement with former Chancellor Mark Rocha after an abrupt departure

Plummeting Bay Area bridge traffic finally levels off

All told, weekday Bay Area traffic volumes are down by half, which has remained consistent from March 23 through this week.

Most Read