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☆ Super Micro shares soar 30% after company names new auditor to help keep Nasdaq listing
▼ + stars: | 2024-11-19 | by ( Kif Leswing | ) www.cnbc.com time to read: +3 min

Charles Liang, chief executive officer of Super Micro Computer Inc., during the Computex conference in Taipei, Taiwan, on Wednesday, June 5, 2024. Shares of Super Micro soared more than twentyfold over a two year period from early 2022 until their peak in March of this year. Super Micro has been one of the primary beneficiaries of the artificial intelligence boom, due to its relationship with Nvidia . On Monday, Super Micro announced that it was selling products featuring Nvidia's next-generation AI chip called Blackwell. Less than two weeks after the index changes were announced, Super Micro reached its closing high of $118.81.

Persons: Charles Liang, Ernst & Young, Nvidia's Organizations: Super, Computer Inc, Micro Computer, BDO, Nasdaq, SEC, Ernst, Deloitte, Touche, Micro, Mizuho, Nvidia, Super Micro, Dell, Hewlett Packard Enterprise, Hindenburg Research, Street, Department of Justice Locations: Taipei, Taiwan

☆ Super Micro hires new auditor to maintain Nasdaq listing; shares pop 23%
▼ + stars: | 2024-11-18 | by ( Kif Leswing | ) www.cnbc.com time to read: +3 min

Charles Liang, chief executive officer of Super Micro Computer Inc., during the Computex conference in Taipei, Taiwan, on Wednesday, June 5, 2024. Shares of Super Micro soared more than twentyfold over a two year period from early 2022 until their peak in March of this year. Super Micro has been one of the primary beneficiaries of the artificial intelligence boom, due to its relationship with Nvidia . Super Micro was added to the S&P 500 in March, reflecting its rapidly growing business and then-soaring stock price. Less than two weeks after the index changes were announced, Super Micro reached its closing high of $118.81.

Persons: Charles Liang, it's, Ernst & Young, Nvidia's Organizations: Super, Computer Inc, BDO, Nasdaq, SEC, Ernst, Deloitte, Touche, Nvidia, Super Micro, Dell, Hewlett Packard Enterprise, Micro, Hindenburg Research, Street, Department of Justice Locations: Taipei, Taiwan

☆ Super Micro faces deadline to keep Nasdaq listing after 85% plunge in stock
▼ + stars: | 2024-11-15 | by ( Kif Leswing | ) www.cnbc.com time to read: +3 min

Charles Liang, chief executive officer of Super Micro Computer Inc., during the Computex conference in Taipei, Taiwan, on Wednesday, June 5, 2024. Super Micro Computer could be headed down a path to getting kicked off the Nasdaq as soon as Monday. Super Micro's stock is now equal to where it was trading in May 2022, after falling another 11% on Thursday. Super Micro could also get an extension from the Nasdaq, giving it months to come into compliance. "Given that Super Micro's accounting concerns have become more acute since Super Micro's quarter ended, its weakness could ultimately benefit Dell more in the coming quarter," Bernstein analyst Toni Sacconaghi wrote in a note this week.

Persons: Charles Liang, Ernst & Young, Bernstein, Toni Sacconaghi Organizations: Super, Computer Inc, Nasdaq, SEC, Securities and Exchange Commission, Super Micro, Nvidia, Hindenburg Research, Ernst, CNBC, Dell Locations: Taipei, Taiwan

☆ Super Micro shares plummet 18% after financial update heightens investor concerns
▼ + stars: | 2024-11-06 | by ( Kif Leswing | ) www.cnbc.com time to read: +2 min

Charles Liang, chief executive officer of Super Micro Computer Inc., during the Computex conference in Taipei, Taiwan, on Wednesday, June 5, 2024. Super Micro shares plunged 18% on Wednesday to their lowest level since June of last year after the embattled server maker issued disappointing unaudited financials and failed to provide specifics plans to keep its Nasdaq listing. Super Micro hasn't filed audited financials since May and is at risk of being delisted by Nasdaq if it doesn't report results for the latest fiscal year to the SEC by mid-November. CEO Charles Liang said Super Micro was actively in the process of hiring a new auditor. For the quarter ending Sept. 30, Super Micro said it generated net sales of between $5.9 billion and $6 billion.

Persons: Charles Liang, financials, Ernst & Young, Ernst, Liang Organizations: Super, Computer Inc, Super Micro, Nasdaq, Micro, Ernst, SEC, Mizuho Locations: Taipei, Taiwan

☆ Super Micro says board found 'no evidence of fraud,' still has no timetable for annual results
▼ + stars: | 2024-11-05 | by ( Kif Leswing | ) www.cnbc.com time to read: +3 min

Charles Liang, chief executive officer of Super Micro Computer Inc., during the Computex conference in Taipei, Taiwan, on Wednesday, June 5, 2024. Super Micro shares plummeted last week after Ernst & Young, the company's auditor, resigned. CEO Charles Liang said Super Micro was actively in the process of hiring a new auditor. Super Micro shares soared 246% last year after jumping 87% in 2023. WATCH: Super Micro shares down on earnings

Persons: Charles Liang, unaudited, Ernst & Young, Ernst, Liang, LSEG Organizations: Super, Computer Inc, Nasdaq, Super Micro, Micro, SEC, Ernst, Company Locations: Taipei, Taiwan

☆ Super Micro's 44% plunge this week wipes out stock's gains for the year
▼ + stars: | 2024-11-01 | by ( Ari Levy | ) www.cnbc.com time to read: +4 min

Charles Liang, chief executive officer of Super Micro Computer Inc., during the Computex conference in Taipei, Taiwan, on Wednesday, June 5, 2024. The company's recent challenges date back to August, when Super Micro said it would not file its annual report on time with the SEC. Super Micro disclosed on Wednesday that Ernst & Young had resigned as its accounting firm just 17 months after taking over from Deloitte & Touche. That's up from $2.1 billion a year earlier and $1.9 billion in the same fiscal quarter of 2023. WATCH: I don't know if Super Micro is guilty or innocent, says Jim Cramer

Persons: Charles Liang, Dow Jones, Ernst, Young, Ernst & Young, Jim Cramer Organizations: Super, Computer Inc, Super Micro, Nasdaq, U.S, SEC, Hindenburg Research, Street, Department of Justice, Deloitte, Touche, CNBC, Ernst, Argus Research, Justice Department, Micro Locations: Taipei, Taiwan

☆ Super Micro's $50 billion stock collapse underscores risk of AI hype
▼ + stars: | 2024-10-31 | by ( Ari Levy | ) www.cnbc.com time to read: +7 min

Super Micro is one of the primary vendors for building out Nvidia-based clusters of servers for training and deploying AI models. Super Micro is now at risk of being delisted from the Nasdaq, and has until Nov. 16 to regain compliance with the stock exchange. Ernst & Young was new to the job, having just replaced Deloitte & Touche as Super Micro's accounting firm in March 2023. Since the S&P's announced index changes in March, Super Micro's stock has dropped at least 10% on six separate occasions. — CNBC's Rohan Goswami and Kif Leswing contributed to this report WATCH: Super Micro stock is a 'very risky buy'

Persons: Ernst & Young, Deloitte didn't, hasn't, P's, Dow Jones, Kevin Barry, Barry, —, Rohan Goswami, Kif Leswing Organizations: Computer Inc, Bloomberg, Getty, Micro, Nvidia, Ernst, Nasdaq, Mizuho, Deloitte, Touche, CNBC, Ernst & Young, Dell, SEC, Super, Hindenburg Research, Super Micro, U.S, U.S . Super, Whirlpool, P Global Locations: San Jose , California, U.S, That's, U.S .

☆ More flight cancellations are expected as airlines gradually recover from global tech outage
▼ + stars: | 2024-07-21 | by ( Dalia Faheid | ) edition.cnn.com time to read: +8 min

CNN —Additional flight cancellations are expected through this weekend as airlines gradually recover from a global tech outage that has left thousands of passengers stranded at airports. The outage “has basically turned computers into bricks around the world,” Glenn Gerstell, former general counsel of the US National Security Agency, told CNN Saturday. More than 400 United flights were canceled Saturday, and over 200 flights were canceled Sunday, according to FlightAware.com. “I was supposed to be in California for my mom’s wedding,” Richard Whitfield of Pasco County, Florida, told CNN Saturday. They didn’t tell me – I had no notification, nothing,” Charlotte Yeh told CNN affiliate WFXT on Saturday.

Persons: ” Glenn Gerstell, ” Gerstell, ” CrowdStrike, George Kurtz, ” United, Delta, “, Allegiant, it’s, David Kennedy, “ It’s, ” Kennedy, “ There’s, Pete Buttigieg, ” Buttigieg, Justin Tallis, Villareal, ” Villareal, we’ve, ” Richard Whitfield, Whitfield, Jonathan Shade, Richard, ” Shade, Shade, ”, –, ” Charlotte Yeh, “ We’ve, ” Marc Forbes, WFXT, ” Carol Edwards Organizations: CNN, Microsoft, US National Security Agency, United Airlines, Delta Air, American Airlines, Binary Defense, US Department of Transportation, ”, Gatwick Airport, Getty, Atlanta’s Hartsfield, Jackson International Airport, Delta Air Lines, Boston Logan International, WFXT, Las Locations: Horley, London, California, Pasco County , Florida, Tampa, Atlanta, Tallahassee, Delta, Fort Lauderdale, Ft . Lauderdale, West Palm, Boston, Las Vegas

☆ China acquired recently banned Nvidia chips in Super Micro, Dell servers, tenders show
▼ + stars: | 2024-04-23 | by ( ) www.cnbc.com time to read: +5 min

Specifically, the servers contained some of Nvidia's most advanced chips, according to the previously unreported tenders fulfilled between Nov. 20 and Feb. 28. While the U.S. bars Nvidia and its partners from selling advanced chips to China, including via third parties, the sale and purchase of the chips are not illegal in China. Contacted by Reuters, Nvidia said the tenders specify products that were exported and widely available before the restrictions. Daniel Gerkin, a Washington-based partner at law firm Kirkland & Ellis, said Nvidia chips could have been diverted to China without a manufacturer's knowledge, given a lack of visibility into downstream supply chains. It did not respond to subsequent questions about tenders that identified its products as a source of banned Nvidia chips.

Persons: Wong Yu Liang, Daniel Gerkin, Kirkland, Ellis, Clare Locke, Gigabyte Organizations: Nvidia, Getty, Super Micro Computer Inc, Dell Technologies Inc, Gigabyte Technology, Reuters, Chinese Academy of Sciences, Shandong Artificial Intelligence, Hubei Earthquake Administration, U.S, U.S . Commerce Department, Industry, Security, Super Micro, Dell Locations: China, U.S, Shandong, Hubei, Southwest, Heilongjiang, Washington

☆ Lightning Round: 'Things are never so rosey that you can't have a drug stock in your portfolio', says Jim Cramer
▼ + stars: | 2023-05-30 | by ( Jim Cramer | ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailLightning Round: 'Things are never so rosey that you can't have a drug stock in your portfolio', says Jim CramerMad Money' host Jim Cramer weighs in on stocks including: Bowlero, Corteva, Bristol-Myers, Telus, Verizon, A O Smith Corp., Centene, Super Micro Computer Inc., and Upstart Holdings.

Persons: Jim Cramer Mad, Jim Cramer Organizations: Myers, Telus, Verizon, Smith Corp, Computer Inc, Holdings Locations: Corteva, Bristol

☆ Global PC shipments slide in first quarter, Apple takes biggest hit, IDC says
▼ + stars: | 2023-04-10 | by ( ) www.reuters.com time to read: +2 min

In separate reports published on Monday, market research firms IDC and Canalys blamed weak demand, excess inventory and a bleak economic outlook for the shipment declines of 29% and 33%, respectively. Of the top five PC makers analysed in the reports, Apple saw the largest drop with a fall of more than 40%. Both the research firms also predicted the market could start to recover later this year and gather momentum in 2024 if the economic outlook improves. "We expect significant market upside as consumers look to refresh, schools seek to replace worn-down Chromebooks, and businesses move to Windows 11," IDC said. Reporting by Bharat Govind Gautam and Tiyashi Datta in Bengaluru; Editing by Varun H KOur Standards: The Thomson Reuters Trust Principles.

☆ Global PC shipments slide in Q1, Apple takes biggest hit - IDC
▼ + stars: | 2023-04-10 | by ( ) www.reuters.com time to read: +2 min

In the report published Sunday, the International Data Corporation (IDC) said global PC shipments numbered 56.9 million in the first quarter of this year, down from 80.2 million in the same period last year. Of the top five PC companies analysed in the report, Apple's Q1 shipments saw the largest drop of 40.5% from the same period in 2022, with Dell Technologies Inc (DELL.N) coming in second with a drop of 31%. Lenovo Group Ltd (0992.HK), Asustek Computer Inc (2357.TW) and HP Inc (HPQ.N) also faced declines in shipments, the IDC said. In February, Apple reported that sales of its Mac computers, which had boomed during the wave of working from home during the pandemic, declined 29% YoY to $7.7 billion in their most recent quarter. Shipment volume in Q1 2023 was noticeably lower than the 59.2 million units shipped in Q1 2019 and 60.6 million in Q1 2018," IDC said.

Nanoco and Chicago-based litigation funding firm GLS Capital said in a release that the settlement, which includes a license agreement and the "transfer of certain patents," resolves litigation in the United States, Germany and China. Nanoco's quantum dots improve the backlighting of LED displays without the use of toxic heavy metals like cadmium. The Texas lawsuit said Samsung began incorporating Nanoco's technology into high-end QLED TVs launched in 2017. Third-party funding of lawsuits has becoming increasingly common in recent years, though details about specific investments are rarely publicized. The case is Nanoco Technologies Ltd v. Samsung Electronics Co, U.S. District Court for the Eastern District of Texas, No.

☆ Cramer's lightning round: Let Extreme Networks cool off a little before buying
▼ + stars: | 2022-12-02 | by ( Krystal Hur | ) www.cnbc.com time to read: +1 min

Loading chart...Paramount Group Inc : "It is very inexpensive, but at the same time, I don't like office real estate. Extreme Networks Inc : "I think it's a very good networking company. ... Let it cool off a little, and then you can do some buying." Loading chart...Super Micro Computer Inc : "It seems too good to be true, which means we have to ... figure out exactly what that company does." Loading chart...Barrick Gold Corp : "It's got a good yield, but the problem is, is that the dollar's got to get weaker.

☆ EXCLUSIVE Output of Apple iPhones at major China plant could fall 30% amid COVID curbs -source
▼ + stars: | 2022-10-31 | by ( Yimou Lee | ) www.reuters.com time to read: +3 min

[1/2] The logo of Foxconn is pictured on top of the company's headquarters in New Taipei City, Taiwan October 31, 2022. A second person familiar with the situation said many workers remained at the Zhengzhou plant and that production was continuing. Foxconn on Oct. 19 banned dining at canteens at the Zhengzhou plant and required workers to eat meals in dormitories. Foxconn has not disclosed whether any workers at the Zhengzhou site had been diagnosed with COVID-19. Authorities have since Oct. 19 reported 264 locally transmitted COVID-19 cases in Zhengzhou, the capital of central Henan province.

☆ Exclusive: Foxconn COVID woes may hit up to 30% of iPhone November output from Zhengzhou plant
▼ + stars: | 2022-10-31 | by ( Yimou Lee | ) www.reuters.com time to read: +3 min

It also builds the device in India and southern China, but its Zhengzhou factory assembles the majority of its global output. A second person familiar with the situation said many workers remained at the Zhengzhou plant and that production was continuing. Foxconn on Oct. 19 banned dining at canteens at the Zhengzhou plant and required workers to eat meals in dormitories. Foxconn and local authorities have not disclosed the number of any infected workers at the site. Zhengzhou, capital of central Henan province, has since Oct. 19 reported 264 locally transmitted COVID-19 cases.

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