Sun Microsystems to break fiscal news on Web site

SANTA CLARA, CA: Sun Microsystems has moved closer to using its Web site and RSS feeds to break corporate news before taking the information to third party services.

SANTA CLARA, CA: Sun Microsystems has moved closer to using its Web site and RSS feeds to break corporate news before taking the information to third party services.

The company will use this strategy in announcing its fiscal earnings report on Monday.

"It's a small, but exceptionally symbolic change," said Jonathan Schwartz, chief executive officer, in his company blog. On July 30, ten minutes after reporting the earnings on Sun's IR Web site and RSS feeds, the same information will be available on wire services.

Schwartz added that this is the first time the general investing public will have equal access to information as those with private subscriptions. He also referenced his online exchange with Christopher Cox, chairman of the US Securities and Exchange Commission, in which Schwartz advocated using the Internet to disseminate information about corporate performance. Both parties have acknowledged pros and pitfalls to the strategy.  

"This is part of a broader effort to provide a more direct and open means for the general public to access information from Sun," said Shawn Dainas, a spokesperson for Sun. While this is not the company's standard release policy, the public can expect more news announced in this way.

The move also raises questions about the relevancy of press releases.

"I wonder how far off we are from ceasing to issue traditional press releases altogether," Schwartz wrote. "After all, no news agency could possibly suggest they reach a greater portion of the planet than the Internet."

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