Sun Suffers a Reversal of Fortunes

Sun Microsystems announced a $34 million loss in its fiscal third quarter as the company continued to repurchase its stock, reinvest cash in the business and pursue acquisitions and expansion in emerging markets. That’s a steep drop from the $67 million the company made in the same quarter in 2007. The loss came as the company aggressively implemented cost-saving measures — including thousands of job cuts — pursued the service provider model, acquiring open source MySQL for $1 billion in February and expanded overseas.