Quote of the day: Hedge fund guy laughing butt off

Sun Microsystems CEO said an unnamed hedge fund manager who reported a supposed planned buyout of his company is now "laughing his butt off."

CNET News staff

Sun Microsystems CEO Scott McNealy disparaged a BusinessWeek report that an investment firm is planning a leveraged buyout of his server and software company. He said the rumor is part of scheme to profit from an increase in Sun's stock price, which had risen 36 cents Friday at 8 a.m. Pacific. The stock had traded higher earlier Friday.

"Why would a supposedly credible rag like BusinessWeek quote an anonymous hedge fund guy on a totally unsubstantiated rumor designed to spike the stock price?" McNealy wrote in an email to CNET News.com. "I will bet this hedge guy is laughing his butt off that BusinessWeek printed this as he profits from the $0.42 rise in the price this morning."