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Stocks opened strong but couldn't maintain gains after the Federal Reserve's hawkish rate cut, with the Dow Jones Industrial Average rising 0.04% to end its longest losing streak since 1974. GDP growth for Q3 was revised up to 3.1%, indicating robust domestic demand, while the 10-year Treasury yield climbed to 4.572%. Micron Technology's stock fell 16.2% after missing second-quarter guidance despite beating earnings estimates for Q1.
Super Micro faces potential delisting from Nasdaq due to a late filing of its 2024 year-end report and ongoing compliance issues, including a history of financial misstatements. The company has until Monday to submit a compliance plan, which could grant it an extension of up to 180 days. However, its past compliance history may hinder its chances, as analysts express concerns about customer retention amid these challenges.
Matt Bryson
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dow ends losing streak as stocks react to fed rate cuts
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22:09 19.12.2024
super micro faces delisting risk amid compliance and financial challenges
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16:00 15.11.2024
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