Super Micro Computer (SMCI) offers up prelim Q2 results, $700M private placement. (00:26) Amazon (AMZN) to open first brick-and-mortar beauty, health store in Italy. (02:10) Netflix (NFLX) opens up a restaurant on the Las Vegas Strip. (02:53)Episode transcripts seekingalpha.com/wsb.Show links: Biggest stock movers Wednesday: SMCI, UPST, Lyft, and moreSchwab offers 24-hour trading to all retail clients - reportAdios Gulf of Mexico as Google, Apple maps rename to Gulf of AmericaDoorDash targets 2025 growth with focus on grocery, ads, and international expansionSign up for our daily newsletter here and for full access to analyst ratings, stock quant scores, dividend grades, subscribe to Seeking Alpha Premium at seekingalpha.com/subscriptions.
Chapter 1: Why did Super Micro's stock rise pre-market?
Welcome to Seeking Alpha's Wall Street Breakfast, where we cover the top news for investors every morning. Good morning. Today is Wednesday, February 12th. I'm Julie Morgan. Supermicro rises pre-market and is on our biggest movers list. Amazon launches its first Italian retail store and Netflix Bites pops up in Las Vegas.
Chapter 2: What are Super Micro's preliminary Q2 results?
Supermicro Computer is up 6.5% pre-market after the artificial intelligence server company reported preliminary second quarter results and guidance for the coming period and offered an update into its ongoing financial investigation.
For the period ending December 31st, SMCI earned between 58 and 60 cents per share on an adjusted basis as revenue rose 54% year over year to be between 5.6 and 5.7 billion. The company had previously expected adjusted earnings to fall within a range of 56 cents to 65 cents per share.
Looking to the next period, Supermicro expects to earn between 46 cents and 62 cents per share on an adjusted basis. Revenue is expected to fall within a range of $5 to $6 billion. In addition, Supermicro said it hopes to have its 2024 annual report filed by February 25th, along with its quarterly reports for the September 2024 and December 2024 periods.
Chapter 3: How is Super Micro addressing its financial investigation?
The company had not filed the quarterly reports amid accusations of improper accounting that led to an internal review. Supermicro also said it is cooperating with the Department of Justice and the SEC on document requests related to the matter. Seeking Alpha analyst Jeremy of Comquot Research said the governance issues appears to be having an impact on operating results.
Chapter 4: What are the details of Amazon's new store in Italy?
They said the launch of NVIDIA's Blackwell should have provided the company with an opportunity for higher gross margins, but it appears this has not materialized as ramping up production might have been hampered by the recent issues. Amazon is trying out a new brick-and-mortar store, this time for health and beauty products in Milan, Italy.
This is the company's first physical retail store in Italy and is expected to open today. It'll feature a wider range of beauty and personal care items, as well as over-the-counter medications and parapharmaceutical products. The beauty segment is among Amazon's fastest growing product categories. A recent Statista survey showed that Amazon is the leading online beauty retailer in the U.S.
Amazon's prior brick and mortar stores included bookstores, pop-up shops, and apparel stores, all of which were shuttered due to lagging sales. The new Netflix Bites Vegas restaurant is now open for walk-in customers at the MGM Grand Hotel and Casino on the Las Vegas Strip.
The pop-up restaurant features dishes and drinks inspired by some of the company's most popular productions, including Stranger Things and Bridgerton. The Netflix Bites location at the MGM Grand is expected to stay open for a year. Now let's take a look at what's trending at this hour on Seeking Alpha. Schwab reportedly offers 24-hour trading to all retail clients.
Google and Apple Maps rename Gulf of Mexico to Gulf of America. And DoorDash targets 2025 growth with a focus on grocery, ads, and international expansion. On our Catalyst, watch for the day. Notable investor events include Western Digital's Investor Day. The event takes place ahead of the planned separation of the company's Flash business and will include a strategy update.
Notable investor events also include Mama's Creations Investor Day. Lockheed Martin, Rocket Lab USA, and Archer Aviation are some of the notable companies due to participate in the three-day T.D. Cohen Aerospace and Defense Conference. And Arius Greenway will begin trading after pricing its IPO. Now for a look at the markets today ahead of the opening bell.
Dow S&P and Nasdaq futures are in mixed territory. Crude oil is down 1% at $72 a barrel. Bitcoin is down 1.8% at $96,000. In the world's markets, the FTSE 100 is flat and the DAX is up 0.2%. Lyft is on our list of the biggest movers of the day pre-market.
LYFT is down 11% despite posting a strong Q4 with record bookings and a double-digit rise in active riders as investors reacted to softer-than-expected Q1 guidance. On today's economic calendar, at 8.30 a.m., CPI. At 10 a.m., Powell testifies before the House Financial Services Committee.
And at noon, Atlanta Fed's Rafael Bostic will speak on the economic outlook in a moderated conversation before the Atlanta chapter of the National Association of Corporate Directors. That's it for today's Wall Street Breakfast. Thanks for listening. To take full advantage of Seeking Alpha with coverage on significant stocks and ETFs, become a premium subscriber.
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