JAVA Plunges 20%+

Sun Microsystems Inc. (JAVA) is far and away the biggest percentage decliner in the S&P 500 on Monday, as shares plunged more than 22% on news reports that its acquisition by IBM may not come to pass.

The acquisition, which would have been the biggest in IBM's history, was purported to have a value of $7 billion.

According to The Wall Street Journal, the weekend was busy for these companies as Sun's board rejected a formal acquisition offer on Saturday. JAVA also said it was ending its exclusivity agreement with IBM, allowing the company to be courted by other companies.

IBM then broke off negotiations, according to reports. However, the situation remains "fluid".

JAVA is a Zacks #3 Rank ("Hold") company.

While today's stiff share price collapse is dramatic, it will not have much of an impact on JAVA's Zacks Rank, which is a measure in the change of earnings estimates.

Read the full analyst report on JAVA