Add as a preferred source on GoogleSpaceX and Tesla Form Merger Committees as U.S. Stocks Close Mixed
Super Micro Computer raised its preliminary quarterly sales estimate to $18.5 billion to $19.5 billion, lifting its shares after hours.
SpaceX CEO Elon Musk said the boards of SpaceX and Tesla formed separate committees to consider a possible merger, putting the companies in focus after a mixed U.S. stock session.
Musk disclosed the review during SpaceX’s third-quarter earnings call Tuesday. He said a deal was not certain and would require shareholder support. The companies have not announced merger terms.
SpaceX generated $14.58 billion in third-quarter revenue, up 161% from a year earlier, and $4.4 billion in net income after a year-earlier loss. Its Super Intelligence business accounted for $7.56 billion of revenue, slightly more than half the total.
Super Micro Computer, Inc. lifted its preliminary fiscal first-quarter sales range to $18.5 billion to $19.5 billion from $14.5 billion to $15.5 billion. It projected a gross margin of 12% to 12.5%, up from earlier guidance of 10.4% to 10.8%. Shares rose about 11% at one point in after-hours trading.
The Dow Jones Industrial Average closed Tuesday up 1.02% at 52,495.88, while the S&P 500 gained 0.28% and the Nasdaq Composite slipped 0.02%.
Super Micro Computer is scheduled to release full results Nov. 3.
John Kim
John Kim reports on the digital-asset business for TokenPost. Send corrections or tips to info@tokenpost.com.