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Today, February 25, is a make-or-break day for Super Micro Computer (aka Supermicro) and its stock, which trades on the Nasdaq under the SMCI ticker. Thats because by the end of today, the beleaguered server company needs to file its delinquent Form 10-K with the U.S. Securities and Exchange Commission (SEC). If it fails to do so, the company’s shares may be delisted from the Nasdaq. Heres what you need to know about its stock price ahead of the deadline and the possible outcomes should Super Micro Computer fail to meet its requirements. SMCI stock price sinks ahead of filing deadline As of the time of this writing, in early trading SMCIs stock price is down over 8% to to above $47 per share. Todays stock price fall follows an 8% fall yesterday. Much of the market is down this week, including big tech stocks, although not as dramatically. One reason for SMCIs fall is most likely jitters as to whether the company will indeed file its delinquent Form 10-K for the fiscal year 2024, as well as additional forms for the first two fiscal 2025 quarters with the SEC. The forms are both a legal requirement and a condition of being listed on the Nasdaq. Supermicro missed the earlier filing deadlines amidst a swath of negative news last year, which has rattled investors since August. Most prominently, the company has faced allegations of accounting irregularities. These allegations, along with a failure to file specific financial forms, have led to the stock price fluctuating wildly since the fall. Concerns surrounding these issues have led to a 22% decline in SMCIs stock price over the past six months. In November, the stock bottomed out at below $18 per sharea far cry from its high of over $122 per share earlier in the year. However, despite the companys most recent declines this week, SMCI stock has still recovered a fair amount since its November lows. Year to date, the stock is up over 55%. Where that stock price goes from hereat least in the near termmay largely depend on whether Supermicro meets its filing deadlines today. Will Super Micro Computer meet its 10-K filing deadline? Surprisingly, despite today being the deadline for the 10-K filing, Supermicro has not given any update on it since last week. On February 19, the company addressed the filing in a Q2 2025 preliminary report. At the time Super Micro Computer said that it continues to work diligently toward the filing of its Annual Report on Form 10-K for the fiscal year ended June 30, 2024, and its Quarterly Report on Form 10-Q for the period ended September 30, 2024. It went on to state that Based on information currently available, the Company believes it will make such filings by February 25, 2025. Fast Company has reached out to Supermicro for an update on the filings. We will update this post if we hear back. What happens if Super Micro Computer misses its deadline? If Supermicro misses its deadline, SMCI stock may very well be delisted from the Nasdaq after the market closes today. However, as noted by MarketWatch, a Wedbush analyst says that Super Micro has the option of asking for another extension to file the required forms. That extension could be for as many as 180 days. This means today will likely end in one of the three following ways for Super Micro Computer: Supermicro may file its delinquent SEC forms by the deadline. Supermicro may not meet the deadline but receive an extension. Supermicro may not meet its deadline and not receive an extension. If Super Micro Computer achieves option No. 1meeting the deadline todayits possible that investors will react kindly. The next best-case scenario is option No. 2, where the company does not meet the deadline but receives an extension. Option No. 3 is the worst outcome. As of the time of this writing, which of the three above options comes to pass remains to be seen. This story is developing…
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E-Commerce
Home Depot broke a two-year slump in same store sales during the fourth quarter as customer demand improved in a housing market that has been buffeted by soaring mortgage rates and a scarcity of homes up for sale.Revenue for the Atlanta company climbed to $39.7 billion from $34.79 billion. Analysts polled by FactSet were calling for $39.15 billion.Home Depot Inc. said Tuesday that the extra week in the quarter added approximately $2.5 billion in sales for the period.Sales at stores open at least a year, a key indicator of a retailer’s health, edged up 0.8%. In the U.S., comparable store sales rose 1.3%. It is the first quarterly increase since January 2023 and much better than the 1.5% decline expected on Wall Street.The extra week in the quarter was not included in the same-store sales results.“The fact that US comparable sales are back in the black after declining for eight quarters or two years is a very clear win for Home Depot, and it suggests that the home improvement market as a whole might finally be reaching the nadir of its more sluggish performance,” Neil Saunders, managing director of GlobalData, wrote Tuesday.However, Home Depot said Tuesday that it expects per-share earnings to decline about 2% this year on sales growth of approximately 2.8%.Shares slipped about 2% before the opening bell.Customer transactions rose 7.6% in the quarter. The amount shoppers spent climbed slightly to $89.11 per average ticket from $88.87 in the prior-year period.“Our fourth quarter results exceeded our expectations as we saw greater engagement in home improvement spend, despite ongoing pressure on large remodeling projects,” said Chair and CEO Ted Decker said in a statement. “Throughout the year, we remained steadfast in our investments across our strategic initiatives to position ourselves for continued success, despite uncertain macroeconomic conditions and a higher interest rate environment that impacted home improvement demand.”Home improvement retailers like Home Depot have contended with homeowners putting off bigger projects due to higher borrowing costs and lingering concerns about inflation.The U.S. housing market has been in a sales slump dating back to 2022, when mortgage rates began to climb from pandemic-era lows. Sales of previously occupied U.S. homes fell last month as rising mortgage rates and prices put off many would-be homebuyers despite a wider selection of properties on the market.Sales fell 4.9% in January from December to a seasonally adjusted annual rate of 4.08 million units, the National Association of Realtors said last week. Home prices increased on an annual basis for the 19th consecutive month. The national median sales price rose 4.8% in January from a year earlier to $396,900.Sales of previously occupied U.S. homes fell last year to their lowest level in nearly 30 years.Home Depot earned $3 billion, or $3.02 per share, for the three months ended February 2. A year earlier it earned $2.8 billion, or $2.82 per share.Removing certain items, earnings were $3.13 per share. That’s better than the $3.04 per share that Wall Street anticipated. Michelle Chapman, AP Business Writer
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E-Commerce
The airline industry is notoriously hard to decarbonize: large jets traveling long distances cant feasibly use batteries, and sustainable aviation fuel is still only produced in tiny volumes. As airlines explore a range of options, United Airlines Ventures Sustainable Flight Fund just invested in one possible solutiona system that uses crushed rocks to capture CO2 for use in fuel or to store underground. The fund announced today that it invested an unspecified amount in Heirloom, a company that uses a powder made from limestone to pull CO2 from the air, relying on the material’s natural ability to absorb the greenhouse gas. At a facility in Californias Central Valley, robots stack trays of the limestone powder into tall stacks exposed to outdoor air. Then the powder is heated in furnaces to release the CO2 so it can be used or stored. United also now has an agreement with Heirloom that gives it the right to buy up to half a million tons of carbon dioxide removal from the startup. We can either sequester it and track it as a carbon removal credit, or we can use it for [sustainable aviation fuel], says Andrew Chang, managing director at United Airlines Ventures. [Photo: Heirloom] The investors liked the basic simplicity of the technology. “We understand how limestone can capture and release CO2,” Chang says. “It is not a novel, unproven technology or catalyst or chemical pathway. It works: Heat it and cool it and it’ll lock and unlock CO2.” Several other companies are paying Heirloom for the service of carbon removal to offset emissions, including Microsoft, which has a long-term contract to buy as much as 315,000 metric tons of CO2 removal from the startup. If the captured CO2 is combined with green hydrogen, it can be made into fuel that can be used on existing planes. Some other sustainable aviation fuel is limited because of the feedstockmaking jet fuel from corn, for example, poses environmental challenges because of the amount of land that’s needed to grow it. (United has separately invested in biofuels made from corn, along with several other approaches.) But CO2 has a supply advantage: There’s more than enough extra CO2 in the atmosphere to meet the industry’s needs. Some startups, including Twelve and Infinium, are now beginning to scale up production of CO2-based sustainable aviation fuel. The carbon footprint is as much as 94% less than conventional jet fuel. (If airlines also pay Heirloom to remove CO2 and store it, that can help offset the remaining carbon footprint.) Right now, this type of sustainable aviation fuel is two to four times as expensive as traditional fuel, though as airlines work on long-term plans to cut emissions by 2050, there’s a path to eventual price parity. The same approach could be used to cut emissions in other hard-to-decarbonize industries, like cargo shipping. United’s investment will help Heirloom scale up production faster. “The funding will be used to continue to drive down the cost of the technology, develop additional projects, and provide the funding needed to subsequently access infrastructure capital,” says Heirloom spokesperson Scott Coriell. The startup is focused on what it calls “deployment-led innovation,” using real-world installations to help it iterate and reduce costs. “As we continue to build larger projects, costs will come down and the market will grow,” he says. “The critical objective to scale [direct air capture] is to repeat this cycle again and again.” Ultimately, though huge volumes of captured CO2 could be used to make fuel, the carbon removal industry will have to grow even faster to deal with the problem of CO2 in the atmosphere; even as companies cut emissions, pulling CO2 out of the air is necessary to avoid the worst impacts of climate change. Around a trillion extra tons of CO2 have been added to the atmosphere since the Industrial Revolution, and the number keeps growing. As it’s captured, much of it will be stored. “We believe that over time, the vast majority of CO2 will end up underground,” Coriell says. “Even in a world where aviation, and other hard-to-abate industries, transition to cleaner fuels, there will still be billions of tons of CO2 emissions that will need to be abated each year.”
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E-Commerce
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