24H|SMCI Soars 21% As It Submits Overdue Filings; Tesla Rebounds 1%; Nvidia, Broadcom Jump 2%

Tiger Newspress
02-26

Tesla Motors shares rose 1% in overnight trading following a 8% drop in the prior session.

NVIDIA, Broadcom rose 2% in overnight trading.

SUPER MICRO COMPUTER INC soared 21% in overnight trading as this data-center hardware specialist late Tuesday filed several delinquent reports with the U.S. Securities and Exchange Commission to avoid delisting from the Nasdaq stock market.

The server maker faced a Feb. 25 deadline to submit its delayed annual filing for last fiscal year and its delayed quarterly filing for the period that ended in September. Super Micro has been staring down a Nasdaq delisting over its noncompliance with the filing requirement, though a Wedbush analyst said that Super Micro also could have asked for a further extension beyond the Feb. 25 deadline.

Management said in a business update earlier in February that it was adjusting its unaudited financials for last fiscal year to increase sales by about $46 million, increase cost of sales by roughly $96 million and reduce earnings per share by about 9 cents.

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