markets

2/4/25

Super Micro jumps as planned “business update” fuels hopes that it will avoid Nasdaq delisting

Super Micro Computer is being given a big pat on the back for simply doing something basically every company does: telling its investors how things are going, business-wise.

Shares of the server company are rallying after the embattled tech company said it would provide a quarterly business update on February 11 after market close.

This is not the only filing that investors will be keeping their eyes on from this company, nor the most important: Super Micro Computer still hasn’t filed its annual report for the 12 months ending June 2024.

The stock is the second-best performer in the S&P 500 in the premarket this morning, with investors seemingly viewing this communique as a signal that the company will become current on its filing obligations.

Nasdaq has allowed the company to be delinquent in producing documentation amid a drawn-out delay that followed allegations from short seller Hindenburg about various accounting irregularities. However, Nasdaq’s patience has its limits: the company will face delisting from the exchange if filings are not received by February 25.

The server company was bounced from the Nasdaq 100 in late 2024 after spending less than six months in the tech-heavy index.

“The company is still exposed to headline risk since it hasn’t filed its delayed 10-K/10-Q,” Bloomberg Intelligence Senior Analyst Woo Jin Ho wrote. “From a business perspective, AI demand fundamentals are healthy, and Super Micro could deliver 2Q sales in-line with consensus of $5.8 billion.”

Its auditor, Ernst & Young, resigned not long after the accounting issues became public, citing questions over management’s commitment to integrity and ethical values around internal controls. A subsequent internal review commissioned by the company found no management misconduct.

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S&P 500 goes nowhere, Nasdaq 100 hits another record, small-caps tumble

Warner Bros. Discovery led gains for the second day in a row, and only three S&P 500 sector ETFs finished in the green.

Horse Ranch In Zhangye

markets

4h

Rocket lab soars to new record close amid rally for retail faves

Rocket Lab ripped by roughly 10% Friday to close at a new all-time high, riding an upturn of retail enthusiasm for a coterie of tech-themed favorites, even as the broader market was more or less flat on the day.

Goldman Sachs’ basket of “retail favorites” — its heaviest weights are Reddit, AppLovin, and Tempus AI — was the second-biggest gainer among the company’s flagship US equity baskets on Friday, rising about 1.6%. The S&P was almost dead flat.

It’s not Rocket Lab’s first retail rodeo, as the money-losing company has more than doubled this year and is up nearly 700% over the last 12 months.

Oracle Wall Street Revisions

Analysts revise up anything and everything they thought about Oracle

After the company’s bombshell earnings this week, Wall Street thinks Oracle’s trajectory has changed.

Matt Phillips6h

markets

7h

Six Flags pops after reiterating its guidance as theme park attendance rebounds

Six Flags shares rose more than 7% today after the company reported a rebound in attendance and early season pass sales heading into the fall. The nine-week period ended August 31 saw 17.8 million guests, up about 2% from the same stretch last year, with stronger momentum in the final four weeks.

More importantly, Six Flags reaffirmed its full-year adjusted EBITDA guidance of $860 million to $910 million, showing confidence that its cost and operations strategy can stay strong for the duration of the year. Riding that wave, Six Flags also said early 2026 season pass unit sales are pacing ahead of last year, and average season pass prices are up about 3%.

The good vibes come despite a drop in in-park per-capita spending, especially from admissions, where promotions and changes to attendance mix (which parks or days guests visit) have weighed. Earlier this week, the amusement giant signed a new agreement that extended its position as the exclusive amusement park partner for Peanuts™ in North America through 2030.

Despite the rally, Six Flags shares are down about 52% year to date.

markets

8h

Rivian turns red on the year, squeezed by a recall and the looming end of the EV tax credit

Shares of EV maker Rivian are down more than 5% on Friday following the company’s recall of 24,214 vehicles due to a software issue. The stock move erases Rivian’s year-to-date gain and turns the company negative on the year.

Rivian’s 2025 model year R1S and R1T are affected by the defect, which was identified after a vehicle’s hands-free highway assist software failed to identify another vehicle on the road, causing a low-speed collision. Rivian said it’s released an over-the-air update to fix the issue.

The recall marks Rivian’s fifth this year, affecting nearly 70,000 of its vehicles.

Rivian’s shares are down more than 20% from their 2025 high, which came prior to the passage of President Trump’s “big, beautiful bill.” Through the legislation, the $7,500 EV tax credit is set to expire at the end of the month.

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