markets

Luke Kawa5/5/26

Super Micro jumps on big Q3 earnings beat, strong profit guidance

Super Micro Computer is jumping on Wednesday after posting a big earnings beat along with a the signal that this improved profitability is poised to last after the bell on Tuesday.

In Q3, the embattled AI server company reported:

Net sales of $10.24 billion (compared to analyst estimates of $12.45 billion and guidance for more than $12.3 billion).
Adjusted earnings per share of $0.84 (estimate: $0.63, guidance for more than $0.60).

“Our margin recovery and the rapid growth of our data center building block solutions business demonstrate that our business remains robust,” said founder, CEO, and President Charles Liang.

For Q4, management anticipates net sales of $11 billion to $12.5 billion (estimate: $11.2 billion) with adjusted earnings per share of $0.65 to $0.79 (estimate: $0.57).

“Importantly, management indicated that orders and backlog remain strong, with backlog reaching another record high,” wrote Needham analyst Quinn Bolton, who expects that the supply constraints that weighed on Q3 sales to be made up for in Q4.

Last quarter, the company was able to snap a long streak of disappointing sales and allayed fears of margin pressure with a report that beat on both the top and bottom lines and included better-than-expected guidance for this quarter.

But afterwards the stock was rocked by allegations that threatened to impact the company’s operations. In March, the company’s cofounder was charged with conspiring to sell AI servers with Nvidia chips to China in violation of US export controls. The company itself was not named in this indictment. However, Oracle was said to have canceled a contract with Super Micro in excess of $1 billion following this news, according to BlueFin Research, a move that “is believed to be related” to these charges.

“When asked whether the DOJ indictment of former employees is impacting the business, management indicated that vendor relationships remain strong and that it has seen no change in customer allocations,” added Bolton.

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J. Edward Moreno7/7/26

SpaceX gets a wave of bullish ratings from Wall Street analysts

SpaceX received more than a dozen positive analyst calls on Tuesday — including from major Wall Street banks — as they initiate coverage on Elon Musk’s space and AI company.

SpaceX went public on June 12 at a $2.2 trillion valuation, the largest debut in history. While the company hasn’t yet posted a profit, it seems to have convinced Wall Street that it will get there and grow its valuation on the way.

Of the at least 17 analysts that gave a rating on Tuesday, all but one gave it a “buy” or “outperform” rating. MoffettNathanson was "neutral."

The ratings come as SpaceX joined the Nasdaq 100 index, a benchmark tech-heavy basket of companies that underpins millions of portfolios. The inclusion adds built-in demand for the stock from index funds and ETFs.

Still, SpaceX fell more than 5% on Tuesday amid a broader sell-off, and is currently effectively flat from its opening price of $150 a share.

US job growth falls far short of estimates in June; unemployment rate unexpectedly dips to 4.2%

Job growth was 57,000. Analysts foresaw job growth of 113,000; prediction markets were more optimistic, looking for job growth above 125,000 but below 150,000.

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Meta surges on report it’s starting a cloud business to sell excess AI compute

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markets

Paige Oamek6/30/26

Nike sinks to lowest level since 2014 after warning of “challenged” sales environment in Q4 report

Did Nike do it?

Investors had a mixed reaction after the global sports apparel company reported its fourth quarter earnings on Tuesday after the bell. Shares initially rose 5% as Nike beat out Wall Street expectations amid a hefty tariff refund bonus. However, the stock then sank to its lowest level since August 2014 in postmarket trading.

Here are the Q4 numbers:

Revenue of $11.0 billion (estimate: $10.8 billion).
Adjusted earnings per share of $0.20 (estimate: $0.12).

Ahead of this report, Nike warned that results would be flattered by a one-time tariff refund (now estimated at roughly $0.52 per share for the bottom line). That gave the company an extra cushion in snapping its streak of seven quarters of year-over-year profit declines.

Over the past year, the company had been punished by tariffs on imported goods, stagnant consumer spending, and increasing competition from other footwear brands like New Balance, Adidas, and Hoka.

Outgoing CFO Matthew Friend deemed it an “increasingly challenging operating environment, where sell-through remains challenged.”

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