markets

5/6/25

Super Micro sinks after issuing disappointing financials for the second time in eight days

Super Micro Computer is sinking again, down 6% in after-hours trading.

Last week, the AI server company gave investors a heads-up that its upcoming earnings would disappoint by issuing a preliminary set of results that were downright ugly, and the stock tumbled double digits the next session.

Management explained away the big miss as a timing issue, saying, “During Q3 [that is, the three months ending March 31] some delayed customer platform decisions moved sales into Q4.”

In other words, customers wanted servers with the new Blackwell GPUs, not older products like the Hopper.

That reasoning rings a bit hollow now, with the company indicating that its current quarter will also be weaker than Wall Street anticipated.

For the three months ending June 30, management expects sales between $5.6 billion and $6.4 billion on diluted earnings per share between $0.40 and $0.50. The midpoint of those ranges falls far below what analysts had been looking for: $0.64 in earnings per share on revenues of nearly $6.6 billion.

During the conference call that followed the release of these results, CFO David Weigand tacked on “and later” to their prior statement related to the timing of sales.

One wonders how the extra week helped Super Micro learn (or decide to tell investors) that these sales wouldn’t be made up in a timely fashion.

“September will be even stronger” than the June quarter, according to CEO Charles Liang, who said the firm “remained confident” in its $40 billion revenue target for fiscal 2026 (July 2025 through June 2026).

One also wonders how much faith investors can have in Super Micro’s guidance — relating to the short and long term — after being disappointed twice in a little over a week.

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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.

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markets

3h

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.

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markets

6h

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

7h

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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