Some market-related summaries for Tues, May 30, 2006: new US Treasury Secretary, Sirius Satellite Radio, Sun Microsystems:

• NEWS:

• President Bush announced Hank Paulson (Goldman Sachs chairman) as the replacement to US Treasury Secretary John Snow. This news seemed to have a negative effect on the stock prices of brokerage firms.

• Sirius Satellite (NYSE: SIRI) - makers of the satellite radio consumer electronics units and  producers of satellite programming. Currently trading around US$4.36 on the NYSE, up $0.18. I don’t think this stock will go down too much more. In fact, without getting into details, I think that they are doing a lot of things right (such as less expensive receiver units) that they were not before. This might be a good time to look into purchasing some shares, before they announce something and the stock shoots up. I have nothing specific in mind, but I also would not hold this stock long because it’ll probably fluctuate.

• Sun Microsystems (NYSE: SUNW, US$4.06) - makers of a variety of computer servers, the Java programming language, computer books, software and more. They have an aggressive ad campaign right now for their Unix servers, and it appears to have resulted in a larger market share for them, as well as top spot. These guys have a long history and I just think $4 per share is a steal.

DISCLAIMER: I do not own shares in any of the companies listed, unless otherwise noted. The suggestions below may not be considered investment advice, and I am not responsible for your purchases or sales. You trade at your own risk. If you disagree, please visit elsewhere.

Technorati Tags: worldwealthview, world wealth view, sun microsystems, sirius satellite, java, server computers, president bush, hank paulson, john snow