==Super Micro Computer (SMCI) reported earnings on Tue 5 Nov 24 (a/h)

 

Super Micro Computer sees Q1 EPS above consensus; Q1 revs below consensus; sees Q2 EPS and revs below consensus 

• Co issues guidance for Q1 (Sep), sees EPS of $0.75-0.76 vs. $0.73 FactSet Consensus; sees Q1 (Sep) revs of $5.9-6.0 bln vs. $6.44 bln FactSet Consensus.
• Co issues downside guidance for Q2 (Dec), sees EPS of $0.56-0.65 vs. $0.81 FactSet Consensus; sees Q2 (Dec) revs of $5.5-6.1 bln vs. $6.84 bln FactSet Consensus.
• As previously disclosed by the Company, in response to information that was brought to the attention of the Audit Committee of the Company's Board of Directors, the Board of Directors had formed an independent committee (the "Special Committee"). The Special Committee has today provided the following statement to Super Micro, but has not otherwise provided any additional details or information.
• "The Special Committee has completed its investigation based on a set of initial concerns raised by EY. Following a three-month investigation led by Independent Counsel, the Committee's investigation to date has found that the Audit Committee has acted independently and that there is no evidence of fraud or misconduct on the part of management or the Board of Directors. The Committee is recommending a series of remedial measures for the Company to strengthen its internal governance and oversight functions, and the Committee expects to deliver the full report on the completed work this week or next. The Special Committee has other work that is ongoing but expects it to be completed soon."
• Supermicro announced on September 20, 2024, that it received a notification letter from Nasdaq stating that the Company is not in compliance with Nasdaq listing rule 5250(c)(1), which requires timely filing of reports with the U.S. Securities and Exchange Commission (the "SEC"). The September 17, 2024, letter was sent as a result of the Company's delay in filing its Form 10-K. The Company filed a Form 12b-25 on August 30, 2024.
• Under the Nasdaq rules, the Company has 60 days from the date of the notice either to file the Form 10-K or to submit a plan to Nasdaq to regain compliance with Nasdaq's listing rules. If a plan is submitted and accepted, the Company could be granted up to 180 days from the Form 10-K's due date to regain compliance. If Nasdaq does not accept the Company's plan, then the Company will have the opportunity to appeal that decision to a Nasdaq hearings panel.

Earnings this week : Nov 4 - 8, 24 (wk 45)

Monday (November 4)

• Morning: AMG BCRX BEN BNTX CC CEG CHH CNA DOCN ENTG FIS FOXA FRPT FTDR IART KNF KRYS MAR NSSC NYT OMI PEG RVTY TGI TPG TRS YUMC ZTS
• Afternoon: ADUS AHH AIG ALAB ANDE AOSL ATUS AVB AZPN BCC BFAM BWIN BWXT CBT CDNA CE CLF CRBG CRUS CWK DEI EGHT ELME EQH ES EVER FANG FN FWRD GKOS GT GXO HHH HIMS HMN HOLX HPK HUN ICHR ILMN INSP INTA JELD LSCC METC MQ MTG NVTS NXPI O OGS OTTR PARR PLMR PLTR PRAA PRIM QNST RHP RRX SANM SLAB SLF ST SUPN TBI TDC VMEO VNO VNOM VOYA VRTX VVX WOW WTRG WYNN

Tuesday (November 5)

• Morning: ADM AGCO AHCO APLS APO ARCH BEAM BLD BLDR BOW BR BRKR CEIX CMI DD DEA EMR EXK EXPD FTS GFS HLMN HSIC INGR IT LGIH LPX MLCO MPC MPLX NEO NMRK NOVT NPO OGE PAYO PINC PTLO QSR SHC STVN TKR TRI ULS WLK XMTR YUM
• Afternoon: AFG AIZ BBAI BGS CPNG CRC DVN EXAS GMED GO GPOR HLIO IFF IMOS IOSP IRBT JKHY KGC LUMN MASI MCHP MRC MRCY NE NHI NOG OUT PAAS PBA QLYS RARE RVLV RYTM SMCI SNDX TMCI TSLX TX USPH VTEX WTTR

Wednesday (November 6)

• Morning: AEP ASC ASTE ATHM AVA AVDX BCO BIP CELH CLBT CLVT CNDT COR CRL CTRI CVS DIN DK ENOV EYE FOLD GIB HLNE HWM IONS IRM JCI JLL KMT KRNT LINE LNTH LXP MAC MCFT MFA MKTX  NVO  OC ODP PERI PFGC PNW PRGO SFL SGHC SMG SMRT SNDR SRE STWD SUN SWX TEVA TRMB VERX VSH
• Afternoon: ACAD ACLS ADTN AEE ALB AMC ANSS APA APP APPS ARM ASH ASPN ATO AWR BALY BBDC BBSI BKH BMBL BROS BTG BYND CCRN CDE CDLX CDRE CERT CHRD CLNE COHR COOK COTY CRSR CSGS CTVA CWAN CXT CXW CYTK DLX DUOL DV ECPG ELF ENLC ENS EOLS ET EVTC FBIN FICO FNF FNV FRSH FSK FSLY GFL GH GILD GNK HCAT HL HST HUBS IIPR IONQ IPAR JAZZ JOBY JXN KAR KD KGS KNTK KVYO KW LAW LB LOPE LYFT LZ MCK MELI MEOH MKSI MODV MRO MTCH MWA NFG NMIH NTR ODD ORA OSUR PCRX PLYA POWI PR PRI PTC PYCR QCOM QGEN QTWO RAMP RCUS RDN RGLD RGNX RLAY RLJ RNR RPD RVMD RYN SBGI SEDG SITM SKT SRPT STE STR SUI TKO TNDM TPC TRIP TS TTWO UPWK VAC VCYT VECO VSAT VSTO VTLE VZIO WAY WES WK WMB WOLF XHR ZG ZIP

Thursday (November 7) 

• Morning: ACIW ACMR AGI APD APPN AQN BDX BIGC BRY BSY CARS CCJ CCOI CEVA CG COLD COMM DCO DDOG DNOW DNUT DT DUK EDR ELAN EPAM EPC EVRG FWRG GDRX GEO GERN GOLD GOLF GOOS HAE HAIN HAL HBI HGV HIMX HOUS HSY IBP INSW IRWD KLG KRP KVUE LCID LCII LFST LGND LSPD MDU MFC ML MPW MRNA MRX MT MTSI MUR NABL NTLA NVMI NXST OLPX OSCR PBH PCG PENN PLNT PLTK PRKS PRVA PZZA RL ROK RXO SCSC SEE SHOO SPTN STGW STRA TAP TBLA TDG TGLS TGNA THR THRY TPB TPR TPX UAA USFD VCEL VITL VTRS VYX WBD WD WRBY WWW XPEL XRAY YETI YOU
• Afternoon: AAOI AAON ABNB ACVA ADMA ADPT AFRM AGL AKAM AL ALLO ALRM ALTM AMN AMPL AMRC ANET ARLO ARRY ASLE ASTH ATEN AVPT AXON BE BHF BILL BL BLNK CABO CARG CIVI CLFD COLL CPAY CPK CPRI CYRX DBX DH DIOD DKNG DOCS DRH DXC ENV EOG ESTA EVH EXPE EXPI FIGS FIVN FLYW FNKO FROG FTNT G GDOT GETY GPRO HRB INDI INGN JAMF KTOS KURA LASR LGF.A LITE LPRO MGNI MLNK MNST MP MRVI MSI MTD MTUS MYGN NET NUS NVEE NWSA OEC OLO OPEN OPK OS OVV PACB PBI PEB PINS PODD PRA PTCT QDEL RDFN REZI RIVN RNG RRR RUN RXST SG SOLV SPT SQ STEP SVV SYNA TEM TOST TTD U UPST VCTR WBTN WEST WPM WTI XPOF YELP ZD

Friday (November 8)

• Morning: ADNT AMCX ANIP ATMU ATSG AXL BAX BLMN CLMT CNH ERJ FLGT FLO FLR FTRE GTN HLLY IMXI KOP LAMR NRG PAA PAL PAR PWP RBA SONY WMS
• Afternoon: HE PARAA

Unusual Options Activity Fri 6/21/24

The following options are exhibiting notable trading, potentially indicating changing sentiment toward the underlying stocks, and/or potentially representing positioning for increased volatility.

Bullish Call Activity:

• SIRI Weekly Jun29 5.5 calls (volume: 2090, open int: 340, implied vol: ~92%, prev day implied vol: 61%). We noted activity in the Weekly Jun29 3.5 calls yesterday (see 6/20 13:23 OPTNX). Co is expected to report earnings late July.
• INTC Jun 31 calls (volume: 14.6K, open int: 19.4K, implied vol: ~36%, prev day implied vol: 33%). Co is expected to report earnings late July.
  
• PLTR Jun 24.5 calls are seeing interest with the underlying stock down 7% (volume: 14.8K, open int: 11.2K, implied vol: ~41%, prev day implied vol: 39%). Stock was  downgraded to Sell from Neutral at Monness Crespi & Hardt; tgt $20. Co is expected to report earnings early August.

Bearish Put Activity:

• CVNA Sep 75 puts (volume: 25.1K, open int: 510, implied vol: ~65%, prev day implied vol: 55%). 25K traded in a single transaction. Co is expected to report earnings early August.
  
• SMCI Jun 850 puts (volume: 4570, open int: 3710, implied vol: ~78%, prev day implied vol: 73%). Co is expected to report earnings early August.
  

Sentiment: The CBOE Put/Call ratio is currently: 0.87, VIX: (13.07, -0.21, -1.6%).
Today is options expiration -- the last day to trade June equity options.

Unusual Options Activity Tue 6/18/24

The following options are exhibiting notable trading, potentially indicating changing sentiment toward the underlying stocks, and/or potentially representing positioning for increased volatility.

Bullish Call Activity:

• CVNA Jun 115 calls (volume: 2940, open int: 2160, implied vol: ~65%, prev day implied vol: 58%). Co is expected to report earnings early August.
• SMCI Jun 950 calls (volume: 13.3K, open int: 2.8K, implied vol: ~78%, prev day implied vol: 74%). Co  continues to expand in Silicon Valley with new campuses as the demand for liquid-cooled data center increases. Co is expected to report earnings early August.
• HPE Jun 22.5 calls (volume: 9830, open int: 5830, implied vol: ~47%, prev day implied vol: 44%). Co introduced introduces new ai and hybrid cloud programs to boost partner profitability.  We noted activity in the Jun 22 calls yesterday (see 6/17 13:31 OPTNX). Nvidia CEO Huang to appear at HPE's Investor Relations Summit on June 18 to speak about the companies' AI partnership. Co is expected to report earnings late August.
• IP Aug 45 calls (volume: 4200, open int: 1470, implied vol: ~38%, prev day implied vol: 35%). Co is expected to report earnings late July.
  

Bearish Put Activity:

• C Jun 58 puts (volume: 6410, open int: 6870, implied vol: ~27%, prev day implied vol: 25%). Co reaffirmed FY24 revenue guidance at investor day (ongoing). Co is confirmed to report earnings July 12 before the open.
  

Sentiment: The CBOE Put/Call ratio is currently: 0.87, VIX: (12.54, -0,21, -1.7%).
June 21 is options expiration -- the last day to trade June equity options.

Super Micro Computer (SMCI) & S&P 500

Worst timing ever?

$SMCI was down 23% today.

$SMCI increased 400% from January to March.

Then, on March 18, S&P added it to the S&P 500.

$SMCI peaked on March 13 and is now down 40%.