Super Microcomputer (SMCI) shares said on Tuesday that after the market approached Tuesday, it expects the company to file a late filing with the SEC by the February 25 deadline for NASDAQ to avoid registration. Ta.
NVIDIA (NVDA) Dell’s rival (Dell), which manufactures computer servers using the latest Blackwell AI chips, has announced that it will “facing filing for delayed annual and quarterly reports to the US Securities and Exchange Commission. I continue to work hard.” “We expect to file such an application by February 25th.” Super Micro filed following a scathing report published last year by Hindenburg Research, which accused Server Maker of accounting violations. I had postponed submission of the
Super Micro also reported second-quarter revenues in the reserve after Tuesday’s Bell. Super Micro expects Wall Street analysts to record revenues of between $5.6 billion and $5.7 billion in the quarter ended December 31, falling below the expected $5.95 billion, according to Bloomberg Consensus estimates. He said that. The company cut its revenue guidance for fiscal year 2025 to $23.5 billion to $25 billion, below the $26 billion to $30 billion range.
SMCI’s shares sank 19% after the earnings result bell, but quickly reversed the line. Stock increased by more than 3% late Tuesday.
The Super Micro business update comes after a turbulent year in which the company faced an ongoing controversy in the wake of a report from Hindenburg. The U.S. Department of Justice reportedly has begun an investigation into Super Micro accounting practices. The company’s delay in its annual and quarterly SEC filings resulted in risk of being registered with the NASDAQ, and the accountant resigned.
NASDAQ recently approved a Super Micro an Extension for submissions by February 25th. The company has hired a new accountant and said the server maker would not recognize an independent review of its business with evidence of fraud.
Super Microstock had been rising ahead of the business update scheduled for February 11th, but overturned the direction on Tuesday. Shares had fallen more than 9% by the end of Tuesday trading day, ending a weekly rally, which rose nearly 60% in the weekly rally.
Super Micro said in an update Tuesday that it “received a subpoena from the Department of Justice and the Securities and Exchange Commission seeking specific documents after the publication of the claim in the short story retailer report published in August 2024.” I’ve checked.
“The company is helping with these document requests,” the company continued.
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