Stock Movers: Super Micro's Sales Dip, Rivian's Loss Widens, Axon Soars on AI

Super Micro's Sales Forecast Miss

• 📉 Super Micro (SMCI) shares dropped significantly after lowering its fiscal year sales forecast, indicating challenges with AI server uptake.
• ⚠️ The company now projects at least $33 billion in revenue for the year ending June 2026, a reduction from its previous bullish outlook of $40 billion.
• 📊 Fourth-quarter results also missed estimates, with adjusted gross margin at 9.6% and adjusted EPS at 41 cents, both below street expectations.

Rivian's Widening Loss and Production Woes

• 🚗 Rivian (RIVN) forecast a larger adjusted loss for the year, citing changes in US fuel economy rules that impact a key revenue source.
• 📉 The company now expects an adjusted loss of $2 billion to $2.25 billion, exceeding previous forecasts and analyst expectations.
• 📦 Second-quarter revenue beat estimates at $1.3 billion, but vehicle deliveries of 10,661 were below expectations, and full-year delivery projections were lowered.

Axon's Record High on Strong Earnings and AI Bookings

• 🚀 Axon (AXON) shares soared to a record intraday high following strong second-quarter earnings per share that surpassed expectations.
• 💡 Analysts highlighted robust bookings for the company's AI plan, contributing to the stock's impressive performance.

Other Notable Earnings and Market Movements

• 💊 Amgen boosted its full-year revenue forecast to $36 billion after quarterly results beat Wall Street estimates, driven by strong sales of medicines.
• 📱 Skyworks reported strong fourth-quarter guidance, with revenue projected between $1 billion and $1.03 billion, significantly above street estimates.
• 🚗 Lucid reported an adjusted loss per share of 24 cents, slightly missing estimates, and lowered its full-year production guidance to 18,000-20,000 vehicles, causing shares to decline.
• 💳 Toast reported a slight beat on QQ revenue and a beat on EBITDA, with modest gains in its shares.