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Super Micro joins the SP 500 after shares rose 20 fold

Super Micro joins the S&P 500 after shares rose 20-fold in two years

David Paul Morris | Bloomberg | Getty Images

Super Micro Computer will join the S&P 500 after the stock staged a historic rally that pushed the company's market capitalization past $50 billion.

The shares, which have risen more than 20-fold in the past two years and more than 200% since the start of 2024 alone, rose another 8% in extended trading on Friday.

According to a press release, Super Micro replaces Whirlpool. Deckers Outdoor also joins the S&P 500, replacing Zions Bancorporation.

The value of stocks included in the benchmark index often increases because funds that track the S&P 500 include them in their portfolios. The median market capitalization of companies in the S&P 500 is $33.7 billion.

Super Micro has been one of the main beneficiaries of the artificial intelligence boom in the technology industry. The company makes servers and other computing infrastructure and is one of the main providers for building Nvidia-based “server clusters” for training and deploying AI models.

In the quarter that ended in December, Super Micro's revenue doubled to $3.66 billion. Analysts expect sales to more than triple in the current quarter.

“We see Nvidia's results as a positive data point for SMCI, a leading partner that designs and builds servers that wrap around GPUs and customize racks to a customer's specific needs,” wrote Ruplu Bhattacharya, an analyst at the bank of America, in a note last month. He has a buy recommendation for the stock.

REGARD: Super Micro is absolutely a meme stock

Supermicro is absolutely a no-profit meme stock, says John Blank

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According to the FDA yogurt39s claims to reduce the risk

According to the FDA, yogurt's claims to reduce the risk of type 2 diabetes are limited

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CNN –

In a decision nearly five years in the making, the U.S. Food and Drug Administration has decided that yogurts can now make a limited claim that the food can reduce the risk of type 2 diabetes, the federal agency concluded Friday.

The decision represents the first qualified health claim the federal agency has issued for yogurt.

Qualified health claims “are supported by scientific evidence but do not meet the more stringent standard of 'significant scientific agreement' required for an approved health claim,” according to the FDA. “To ensure that these claims are not misleading, they must be accompanied by a disclaimer or other qualifying language to accurately convey to consumers the level of scientific evidence supporting the claim.”

In the case of yogurt, the claim states that, according to limited scientific evidence, “regular consumption of yogurt, at least 2 cups (3 servings) per week,” may reduce the risk of the disease, which affects about 38 million people in the United States 462 million people worldwide are affected.

Basak Gurbuz Derma/Moment RF/Getty Images

Yogurt can be a nutrient-dense addition to a healthy diet.

The serving size recommendation is supported by the FDA's conclusion that, based on two prospective cohorts evaluated in high-quality studies, the specific amount is the minimum required to achieve the claimed effect.

Yogurt is made from milk fermented with the bacteria or probiotics Lactobacillus bulgaricus and Streptococcus thermophilus and is rich in calcium, protein, B vitamins and minerals, including magnesium, phosphorus and potassium.

The move comes in response to a 2018 year Petition from food and beverage company Danone North America. According to a press release, the application triggered an FDA review of existing research on the links between yogurt and type 2 diabetes.

“The petition to have a qualified health claim related to type 2 diabetes appear on yogurt labels followed appropriate steps and included peer-reviewed research in support of their petition,” said Caroline Passerrello, registered dietitian and lecturer at the University of Pittsburgh's School of Health and Rehabilitation Sciences, via email.

But aside from being limited, the supporting research is also “not very strong,” Passerrello added. “Because of the way the study was conducted, we can't really say for sure that there is a causal relationship, but rather a link between type 2 diabetes and yogurt.”

CNN has reached out to the FDA for comment.

Qualified health claims have been approved by the FDA for dietary supplements since 2000 and for foods since 2002, but are rarely disclosed. In the last decade, only 10 foods were allowed to be sold with such claims – including those with high flavonol content cocoa powder to reduce the risk of cardiovascular disease and certain cranberry products to reduce the likelihood of recurrent urinary tract infections in women.

Dr. Marion Nestle, a nutritionist and molecular biologist, echoed Passerrello's sentiments, adding that “qualified health claims are, on their face, ridiculous.”

“Why would any reasonable person think that all you need to do to prevent type 2 diabetes is eat two cups of yogurt a week?” said Nestlé, Paulette Goddard Professor Emeritus of Nutrition, Food Studies and public health at New York University, via email. “All we can hope for is that the yogurt is at least unsweetened, but since it's really difficult to find unsweetened yogurt, we want to tell people who want to avoid type 2 diabetes that sweetened yogurt is good for she is.”

“According to the FDA's review of the studies, the amount of sugar in yogurt had no impact on the results,” Nestlé added. “That’s why the FDA says sugar isn’t a problem.”

All yogurts can make this limited claim as long as they use the exact wording specified by the FDA, Nestle added. In several studies, high consumption of added sugars has been linked to a higher risk of developing type 2 diabetes.

What makes the claim even more dubious is the fact that the cause of type 2 diabetes is multifactorial. Although yogurt can be part of a healthy, weight-maintaining diet, “yoghurt alone is expected to have a causal relationship to diabetes prevention.” “Doesn't make sense in the context of the overall diet,” Nestle said.

In this context, using “common sense” is crucial when evaluating the health claims of products to make the best choice for your diet and health, Nestlé added.

Previous research has suggested limiting added sugar intake to less than 25 grams, or about 6 teaspoons, per day. This is equivalent to about 2 ½ chocolate chip cookies, 16 ounces of fruit punch, or about 1 ½ tablespoons of honey.

Nutritionist and author Lisa Drayer contributed to this report.

According to the FDA, yogurt's claims to reduce the risk of type 2 diabetes are limited Read More »

Novatech closes its factory in Anjou 41 people lose their

Novatech closes its factory in Anjou: 41 people lose their jobs

Around forty people who worked at the Novatech factory in Anjou on Boulevard Ray-Lawson will lose their livelihoods because the company will concentrate its activities at other sites on the outskirts of the city.

“We have announced the closure of our Anjou site. “This site produced glass for the manufacture of our patio doors, which are manufactured in Terrebonne and Beauce,” Novatech marketing director Dominique Dubé confirmed to the Journal on Friday.

“In the interest of operational efficiency, glass manufacturing is now done in the same factories that make doors,” she said.

doors and windows

The company is ceasing its activities and moving them to other locations.

Novatech employs more than 1,500 people. The company specializes in the production of components for the door and window sector.

The company has 16 manufacturing facilities and distribution centers in Quebec, Ontario, Alberta and the United States.

Novatech closes its factory in Anjou: 41 people lose their jobs Read More »

Super Micro booms as AI server maker looks to join

Super Micro booms as AI server maker looks to join S&P 500

(Portal) – Shares of Super Micro Computer rose 13.5% in extended trading on Friday after it said the seller of AI-optimized servers will be added to the S&P 500.

Super Micro and Deckers Outdoor Corp will be added to the S&P 500 before trading opens on Monday, March 18, coinciding with a quarterly rebalancing of Wall Street's most followed stock benchmark, S&P Dow Jones Indices said in a news release.

These two companies will replace Whirlpool Corp and Zion Bancorporation, S&P Dow Jones Indices said.

Index funds that track the S&P 500 are among the most popular investment vehicles on Wall Street, and these funds must buy shares of Super Micro and Deckers to keep pace with the composition of the benchmark.

According to Howard Silverblatt, senior index analyst at S&P Dow Jones Indices, such S&P 500 index funds have about $7.8 trillion in assets.

Super Micro sells high-end servers made with Nvidia's top-of-the-line AI processors, and its inventory has more than tripled this year.

With Super Micro's market value reaching over $50 billion, investors had speculated that the company would be included in the S&P 500.

On Friday, investors swapped nearly $10 billion worth of Super Micro shares, outpacing trading in Wall Street heavyweights like Microsoft and Amazon.

Its jump in after-hours trading adds to a 4.5% gain during Friday's trading session.

Deckers shares rose 2.7% in extended trading, while Whirlpool fell 1.7% and Zion Bancorporation fell 2%.

(Reporting by Noel Randewich; Editing by Diane Craft)

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5 questions to ask when evaluating your financial advisor

Income tax return: Are there professions that require less tax?

When filing taxes, employees in certain professions can benefit from small adjustments that allow them to save a little on taxes, but these are rare.

“There aren’t many professions that don’t pay taxes,” H&R Block spokesman Yannick Lemay said in an interview with QMI Agency.

Only clergy and people who have taken a vow of poverty benefit from a real tax exemption.

However, certain professions could benefit from different tax liability, Mr Lemay explained.

This is particularly true for people who act as host families and receive state benefits.

Local elected officials also benefit from a certain amount of relief through a subsidy for the expenses they incur as part of their work.

“This allowance is not taxable in Quebec, but is taxable at the federal level. “You save a lot of taxes in this regard,” emphasized the spokesman.

Exclude some of your income

If expenses were incurred as part of your professional activity, it is possible to exclude part of your income from tax.

“Ultimately, that person has incurred expenses, so they still have less money in their pocket. “She hasn’t necessarily gotten richer,” Mr. Lemay noted.

Occupations are often cheaper for these expenses. For example, we find construction companies who often travel with their own work equipment, or road workers who are on the move almost every day.

Income tax return: Are there professions that require less tax? Read More »

US pharmacy giants start selling abortion pills DW

US pharmacy giants start selling abortion pills – DW – 02/03/2024

American drugstore chains CVS Health and Walgreens announced that they will soon begin selling the abortion pill mifepristone in states where abortions are legal.

The Food and Drug Administration (FDA) approved a rule in January 2023 that allows for greater access to mifepristone, including by expanding availability at major pharmacies.

Due to safety concerns, FDA labeling has previously been limited. CVS Health and Walgreens have now completed the process in accordance with the FDA rule change that will allow them to sell mifepristone.

The drug is used along with a second pill, misopristol, for medical abortions. This is a method in which a pregnancy is terminated using the two pills instead of surgery.

According to the Guttmacher Institute, a research group that advocates for abortion rights, more than half of all pregnancies in America are terminated through medical abortions.

US judge suspends approval of abortion drugs

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Biden praises better access to abortion pills

“With major retail pharmacy chains newly certified to dispense abortion medications, many women will soon have the option to pick up their prescription at a local, certified pharmacy – just like they would with any other medication,” said U.S. President Joe Biden.

“I encourage all pharmacies that want to take advantage of this option to become certified,” he said. CVS Health, the nation's largest drugstore chain, said it will begin filling prescriptions for mifepristone in Rhode Island and neighboring Massachusetts in the coming weeks.

Walgreens will begin dispensing the medication within a week. The chain will launch with a few locations in New York, Pennsylvania, Massachusetts, California and Illinois.

Biden has made abortion rights a central issue of his presidential campaign. He has released abortion-themed ads and sought to portray his main rival, former President Donald Trump, as someone who could threaten Americans' personal freedoms.

Access to medical abortion is a big issue in an election year

The news comes as the US Supreme Court will consider whether to restrict access to mifepristone. The decision could upend the FDA's approval and regulation of the drug, which has been considered safe for many years. A verdict is expected in July.

Access to medication abortion, particularly by mail, which was also one of the FDA's 2023 rule changes, has become a topic of heated debate.

The Supreme Court overturned Roe v. Wade, which constitutionally protected abortion. Many conservative states, such as Tennessee, have since passed complete bans on abortion.

rm/wd (AP, AFP)

US pharmacy giants start selling abortion pills – DW – 02/03/2024 Read More »

1709336005 Fisker plunges 34 on warning CEO hopes to finalize financing

Fisker plunges 34% on warning; CEO hopes to finalize financing deals with OEM “as soon as possible.”

Fisker (FSR) released a slew of bad news in its fourth-quarter earnings report yesterday, rattling investors and Wall Street analysts.

Fisker reported that the company has “significant doubts about its ability to continue as a going concern” when it reports its official 2023 financial statements given its financial condition, dealers' evolving sales approach and the challenging electric vehicle market. Fisker also said it will reduce its workforce by 15%.

Fisker said it had $396 million in cash at the end of the fourth quarter, but $70 million of it was locked up. Fisker said it is in discussions with a current bondholder about an additional investment in the company and is negotiating with “a major automaker regarding a possible transaction that could include an investment in Fisker and the joint development of one or more electric vehicle platforms.” Manufacturing in North America.”

Portal reported Friday afternoon that Fisker was in preliminary discussions with Nissan about a $400 million cash injection and that Nissan would have access to Fisker's upcoming truck platform.

The Fisker Ocean, the American automaker's new all-electric SUV, was exhibited on March 3 at the Mobile World Congress (MWC), the industry's largest trade show focusing on mobile devices, 5G, IOT, AI and big data, which took place on March 3 March 2022 in Barcelona, ​​Spain.  (Photo by Joan Cros/NurPhoto via Getty Images)The Fisker Ocean, the American automaker's new all-electric SUV, was exhibited on March 3 at the Mobile World Congress (MWC), the industry's largest trade show focusing on mobile devices, 5G, IOT, AI and big data, which took place on March 3 March 2022 in Barcelona, ​​Spain.  (Photo by Joan Cros/NurPhoto via Getty Images)

The Fisker Ocean, the American automaker's new all-electric SUV, is on display in Barcelona, ​​Spain, on March 3, 2022. (Joan Cros/NurPhoto via Getty Images) (NurPhoto via Getty Images)

In an interview with Yahoo Finance, Henrik Fisker, CEO and chairman of Fisker, said discussions with one automaker were advanced, although he would neither confirm nor deny that it was Nissan.

“What we said is that we are [in] Negotiating with an OEM [original equipment manufacturers] for electric vehicle development and production in the US and an investment,” Fisker said. “I think we started talking to several OEMs over six months ago, so obviously we've already done a lot of work, so I'm hoping this deal will close as quickly as possible that we're working on.

While talks of a cash injection and strategic partnership with an established automaker are welcome news, it hasn't been enough to allay doubts about Fisker's precarious condition. Shares of the electric vehicle maker plunged nearly 34% on Friday and have been below $1 since early January.

Fisker is optimistic about the future, although he has concerns about a liquidity crisis and a stock price that doesn't comply with NYSE rules as it trades below $1.

The story goes on

“I would say [despite] Despite the ongoing general decline in electric vehicles, we are still seeing a lot of interest in our vehicles. “The electric vehicle market has been difficult over the last few months, but I think with our transition to the dealer model we will actually increase our sales more than we have,” Fisker said. “We had 250% sales growth from Q3 to Q4, with the guidance we are currently tracking, we continue to see sales growth despite the drop in electric vehicles.”

Wall Street reacts to Fisker's outlook

Henrik Fisker, CEO of Fisker, presents the all-electric off-road Ocean called Force E at its opening Henrik Fisker, CEO of Fisker, presents the all-electric off-road Ocean called Force E at its opening

Fisker CEO Henrik Fisker unveils the all-electric off-road Ocean called Force E during its first Product Vision Day on August 3, 2023 in Huntington Beach, California. (FREDERIC J. BROWN/AFP via Getty Images) (FREDERIC J. BROWN via Getty Images)

Citi analyst Itay Michaeli generally thinks Fisker's only product, the Ocean EV, is promising and isn't surprised that a major automaker is interested in investing in Fisker, but that's not enough to give him confidence maintained in Fisker.

“Entering such an agreement would likely be a major benefit for Fisker, but it is difficult to base an investment thesis solely on that, and we would have liked to see more progress made on this front,” Michaeli wrote in a note to investors . Michaeli downgraded the stock to Neutral/High Risk (equivalent to Hold) and lowered his price target to $0.80 from $4.

In the fourth quarter, Fisker reported revenue of $200.1 million, missing Bloomberg consensus estimates of $272.9 million, and a net loss of $463.6 million, well above the expected loss of $82 .7 million US dollars.

Fisker's challenges in establishing its direct-to-consumer model led the company to seek traditional dealer partnerships. The company said it now has 12 dealer partners and over 250 interested dealers.

While talks of new partnerships and a dealer distribution network are promising, investors' biggest concern is Fisker's lack of liquidity.

“If the company had sufficient liquidity until 2025, the risk-reward ratio here would probably be interesting, as the share price has come under considerable pressure,” wrote Michaeli. “But with liquidity reserves tightening and accounting/reporting issues still unresolved, it is difficult to make an investment case here in such a poor situation [near-term] Visibility.”

Pras Subramanian is a reporter for Yahoo Finance. You can keep following him Twitter and on Instagram.

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Nvidia closes at 2 trillion valuation as Dell drives AI

Nvidia closes at $2 trillion valuation as Dell drives AI rally

By Noel Randewich

(Portal) – Nvidia's stock market value closed above $2 trillion for the first time on Friday after an upbeat report from Dell Technologies reignited Wall Street's AI-powered rally.

Nvidia shares rose 4% after Dell, which sells high-end servers powered by Nvidia processors, gave an upbeat forecast late Thursday that pointed to a surge in orders for its AI-optimized servers.

Shares of Dell rose as much as 38% to a record high before ending the session up 32%.

Friday's rally put Nvidia's market capitalization at $2.06 trillion, making it Wall Street's third most valuable company behind Microsoft and Apple at $3.09 trillion and $2.77 trillion, respectively.

Super Micro Computer, another company that sells servers made with Nvidia chips, rose 4.5%.

Other AI-related chipmakers rose to record highs, with Broadcom and Marvell Technology each rising about 8%, while Advanced Micro Devices rose over 5%.

The PHLX chip index rose 4.3% to its own record high, extending its 2024 gain to 18%.

Nvidia controls about 80% of the market for high-end AI chips. Customers include ChatGPT developer OpenAI, Microsoft, Alphabet and Meta Platforms, which are securing scarce supplies of its components to compete in the fast-growing generative AI sector.

The company has recently become Wall Street's most traded stock in terms of value, replacing Tesla. Investors swapped an average of $36 billion worth of Nvidia shares over the last 30 sessions, compared to $21 billion a day for Tesla.

Trading in Nvidia shares reached $38 billion on Friday.

On February 23, the Santa Clara, California-based company added $277 billion to its stock market value in just one session, a Wall Street record, after forecasting a roughly three-fold increase in quarterly revenue.

Nvidia shares are now up 66% in 2024 after more than tripling last year. Last month its market value surpassed Amazon and Alphabet.

The story goes on

A week ago, Nvidia's stock market value rose just above $2 trillion for the first time before declining again at the end of the session.

According to LSEG data, Saudi Aramco has a market capitalization of $2.045 trillion, although more than 90% of it is closely held by the government of Saudi Arabia and less than 2% of its shares are available for trading by investors.

(Reporting by Noel Randewich; Editing by Kirsten Donovan and Will Dunham)

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