Wall Street Breakfast: Super Micro Heats Up on Margin Outlook, Trump Tariffs on Generic Drugs, Nike China Strategy Shift
Super Micro Computer (SMCI) shares surged 16% premarket after raising its Q4 FY26 gross margin outlook to 15%-17%, well above prior guidance of 8.2%-8.4%, driven by favorable customer and product mix. Revenue is expected near the low end of $11B-$12.5B guidance, with consensus at $11.73B. Backlog hit record levels with over $60 billion in new orders. Separately, President Trump announced a phased tariff plan on generic drug imports: zero tariffs for two years starting August 1, then 100% in August 2028, rising to 200% a year later, aiming to push production onshore. Over a dozen major pharma firms including Eli Lilly, Pfizer, and Novo Nordisk have committed to price cuts. Nike announced it will cut ties with thousands of online distributors in China starting January, shifting focus to its own website, app, and major platforms like Tmall and JD.com.
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