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Super Micro Computer stock plunges on report of federal probe
Super Micro Computer’s stock price fell sharply on Thursday after the Wall Street Journal reported that the Department of Justice is investigating the server maker.
Shares of the company, which sports a market capitalization of nearly $24 billion and which has been boosted by investor interest in artificial intelligence, sank $54, or roughly 12%, in afternoon trade.
The Journal cited people familiar with the matter in reporting that the Justice Department has opened a probe into Super Micro, with the investigation in its initial phases.
The agency’s investigation followed a critical report in August about Super Micro by Hindenburg Research, an investment firm that specializes in short-selling, or betting that a company’s stock price will fall. Hindenburg’s report alleged “glaring accounting flags, evidence of undisclosed related party transactions” and other issues at Super Micro, a Silicon Valley maker of computer servers and storage technology.
According to the Journal, a prosecutor at the U.S. attorney’s office in San Francisco is seeking information possibly tied to a former employee who accused the company of accounting violations and who had filed a whistleblower lawsuit against Super Micro in April. The Hindenburg report focused in part on the ex-employer’s allegations.
On August 28, a day after the Hindenburg report, Super Micro said it would file its fiscal 2024 annual report with the Securities and Exchange Commission late.
Super Micro declined to comment.
In a September 3 letter filed with the SEC, Super Micro founder and CEO Charles Liang disputed Hindenburg’s claims.
“You may have also heard about a recent report from a short-seller hedge fund that contains false or inaccurate statements about our company including misleading presentations of information,” he said. “We will address these statements in due course.”
Hindenburg and the Department of Justice did not immediately respond to requests for comment.
CBS News
November’s full moon, known as the Beaver Moon, is the last supermoon of 2024. Here’s when it peaks and how it got its name.
When astronomy fans look to the sky this week, they’ll get to see November’s Beaver full moon, the last of 2024’s four consecutive supermoons.
The 2024 series of supermoons started in August with a rare supermoon blue moon. After this month’s Beaver Moon, there won’t be another supermoon until late next year.
Why is the November full moon called the Beaver Moon?
November’s full moon is called the Beaver Moon, according to the Old Farmer’s Almanac. The name was chosen because this is the time of year when beavers start sheltering in their lodges after having prepared food stores for the winter.
This month’s full moon also has several other names tied to winter and animals preparing for the cold weather. Other full names for the November full moon are the Frost Moon, the Freezing Moon, the Digging Moon, the Deer Rutting Moon and the Algonquin Whitefish Moon.
When will the November supermoon be visible?
The full moon is expected to reach its peak on Friday, Nov. 15, at 4:29 p.m. EST, NASA said. The Old Farmer’s Almanac details specific moonrise times for different ZIP codes across the U.S.
Around 96% of the moon’s nearside will be illuminated by the sun on Thursday, according to NASA. By Friday, 100% of the moon’s nearside will be illuminated. About 99% of it will be illuminated by the sun on Saturday and 96% of the moon will be illuminated on Sunday.
You won’t need binoculars or a telescope to enjoy the spectacular view.
What makes supermoons special?
A supermoon happens when the moon is simultaneously full and at the part of its orbit that’s closest to Earth, according to NASA. The moon’s distance from Earth varies between around 221,457 miles and 252,712 miles.
During this month’s supermoon, the moon will be about 224,385 miles from Earth.
Supermoons appear larger than the average full moon. It’s similar to the size difference between a quarter and a nickel, according to NASA. Supermoons are also about 16% brighter than an average moon.
While all supermoons appear bigger and brighter than the average full moon, there is some variance. According to NASA, the November full moon will appear 6.2% bigger and 12.8% brighter than 2024’s average full moon.
When will the first supermoon of 2025 occur?
Next year, expect three supermoons, starting in October, according to earthsky.org. There will be one on Oct. 7, 2025, followed by Nov. 5 and Dec. 4. Then the following new year will start with a supermoon on Jan. 3, 2026.
CBS News
Carjacking suspect in Beverly Hills crashes into building near Rodeo Drive holiday lights show
The Beverly Hills Police Department responded to the Rodeo Drive area after an SUV crashed into a building near the city’s holiday light show Thursday night.
Detectives said 22-year-old Pittsburgh resident James Portul allegedly carjacked a woman’s black BMW X3 at around 7:05 p.m. in the 400 block of North Bedford Drive and drove towards the light show. Portul made it a couple of blocks until he lost control of the SUV and crashed into a pillar outside an office building near the Wilshire Boulevard and Camden Avenue intersection.
A witness said he was speeding and skidding around the road before slamming into the corner of the building.
KCAL News
Before striking the building, Portul allegedly ran over two men, one woman and a boy. The Beverly Hills Fire Department took all of the victims to the hospital in an unknown condition. Police said one of the victims was a vendor.
Portul allegedly ran away from the crash site but officers assigned to a city event quickly detained him in the 200 block of South Beverly Drive. The Rodeo Drive holiday light show was a block away from the crash.
It’s unclear if the victims attended the event.
Portul was arrested on two charges, carjacking and hit-and-run with injury.
An Alaska Airlines flight made an emergency landing at LAX after blowing out a tire during its takeoff at Dulles International Airport near Washington D.C.
The aircraft landed at LAX at about 8:10 p.m. without incident. First responders were standing by on the runway as a precaution.
Out of the 175 passengers and six crew members aboard Flight 309, no one was injured.
“While this incident is a rare occurrence, our flight crews train extensively to safely manage through many scenarios,” the airliner stated.
Alaska stated that the pilot declared the emergency landing as a precaution to ensure the flight had extra support if needed.
The company said it would investigate what caused the Boeing 737-900 to malfunction. The aircraft will not be in service during the investigation.
November’s full moon, known as the Beaver Moon, is the last supermoon of 2024. Here’s when it peaks and how it got its name.
Carjacking suspect in Beverly Hills crashes into building near Rodeo Drive holiday lights show
Alaska Airlines flight from Dulles makes emergency landing at LAX
November’s full moon, known as the Beaver Moon, is the last supermoon of 2024. Here’s when it peaks and how it got its name.
Carjacking suspect in Beverly Hills crashes into building near Rodeo Drive holiday lights show