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Super Micro Computer (SMCI) shares jumped more than 6% on Monday, recovering a portion of the steep losses recorded last week after the server and data storage company released its fiscal fourth-quarter earnings.

In its latest set of quarterly figures, released after the closing bell Tuesday, the server maker reported revenue had more than doubled from the prior year, edging out analysts' sales forecasts. Profits, however, fell short of expectations, and Supermicro's stock plunged 20% the next day.

Although Supermicro forecasted further sales growth, increasing costs contributed to a drop in margins that appeared to underpin the negative reaction to the earnings report. Bank of America analysts downgraded the stock to "neutral," saying they expect margins to remain subdued in coming quarters.

On its earnings call, Supermicro attributed the downtick in gross margins to product mix, competitive pricing aimed at securing new design wins, and elevated initial costs involved in increasing production of direct liquid cooled (DLC) technology for clusters of graphic processing units used in artificial intelligence (AI) data centers.

As DLC production ramps up, the company believes it can slow manufacturing costs to drive margin recovery.

In addition to the company's assertion that preliminary cost headwinds should be temporary, a report over the weekend in suggested that Supermicro's investments in liquid cooling technology could pay off. The article highlighted liquid cooling as a "novel method" for helping AI data centers without relying as heavily on energy-intensive air conditioners.

Supermicro delivered more than 1,000 liquid-cooled AI racks in June and July, according to the report, and around 30% of the server racks the company ships next year will incorporate liquid cooling.

Following last week's losses and Monday's recovery, Supermicro shares have gained nearly 90% so far in 2024.

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President Bola Tinubu has approved a new national policy in curbing health workforce migration.

In a statement on Monday, Ali Pate, coordinating minister of health and social welfare, said the policy is a comprehensive strategy to manage, harness, and reverse health workers’ migration.The minister added that the policy will also encourage the return of professionals to Nigeria through attractive incentives and reintegrate them into the nation’s health system.

“This approach leverages the expertise of our diaspora to bridge gaps within the health sector. Also, the policy champions reciprocal agreements with other nations to ensure that the exchange of health workers benefits Nigeria. These bilateral and multilateral agreements are designed to protect national interests while respecting the rights and aspirations of our healthcare professionals.

We call on recipient countries to implement a 1:1 match — training one worker to replace every publicly trained Nigerian worker they receive,” the statement read.

The minister said the policy recognises the importance of work-life balance and has included provisions for routine health checks, mental well-being support, and reasonable working hours, especially for younger doctors. “These measures aim to create a supportive work environment, reducing burnout and enhancing job satisfaction,” Pate said. “The governance of this policy will be overseen by the National Human Resources for Health Program (#NHRHP) within @Fmohnigeria, in collaboration with state governments. This ensures responsible implementation and alignment with broader sector-wide (#SWAp) health objectives.”

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Nigerians have shared their observations about the current season of Big Brother Naija show.

They said it is the worst edition of the Big Brother seasons because there was no aura in it, no interesting personalities, no controversial personalities, no intriguing social media talking point and that probably Nigerians have outgrown the show.

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Semiconductor stocks could be set for a rebound in the fourth quarter as seasonal headwinds ease, according to Bank of America Securities analysts. 

Chipmakers have had a tough start to the third quarter amid heightened volatility, with recent jobs data raising concerns about the U.S. economy and shifting expectations for rate cuts by the Federal Reserve. 

The iShares Semiconductor ETF (SOXX) has lost nearly 14% in the calendar third quarter so far, while the S&P 500 is down about 2%. However, even with recent losses, the exchange-traded fund focused on chip stocks is up more than 11% since the start of the year, while the S&P 500 has climbed a little over 12% in the same period. 

The SOX semiconductor index gained about 0.7% on Monday but has lost 13% since the start of the third quarter.

“If history is any guide, SOX could recover starting in October,” the analysts said, with the calendar fourth and first quarters bringing average returns between 7% and 10.5% since 2010, about 400 basis points above the S&P 500. 

Semiconductor stocks may not be alone in being poised to emerge from a seasonally difficult period, with August and September historically among the weakest months for the S&P 500 more broadly, while November and December are some of the strongest. 

Bank of America warned that elections in the U.S. and geopolitical tensions could raise uncertainty later in the year, though historical data also suggests markets have tended to rise in presidential election years.

The analysts said that larger chipmakers with greater exposure to the data-center market, such as Nvidia (NVDA) and Broadcom (AVGO), would be in a stronger position, in their base case, with cloud computing giants including Microsoft (MSFT) and Amazon (AMZN) set to raise spending on infrastructure. 

Nvidia, Broadcom, and KLA (KLAC) were Bank of America’s top semiconductor stock picks overall, citing “consistent execution in their respective sub-sectors.”

Nvidia partners Arm Holdings (ARM), Micron Technology (MU), and Onsemi (ON) could also be particularly well-positioned to benefit from a stronger-than-expected resurgence, based on their potential ability to scale sales quickly if demand rises faster than anticipated, the analysts said. 

However, if demand ends up proving weaker than expected, analysts highlighted Broadcom, Synopsys (SNPS), and Cadence Design Systems (CDNS), among other chip stocks, based on historical performance. 

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Gospel singer Ajayi Aduke Morounkola popularly known as Aduke Gold is d3ad.

Confirming the incident, Tuesday morning, another popular colleague, Esther Igbekele, wrote on Facebook, “A GENERAL HAS FALLEN. ADUKE GOLD #rip”

The cause of her d3ath remains unclear as at time of filing this report.

The Ilesha-born singer was initially known as Aduke Penkele. She grew up in Ogba and Badagry areas of Lagos and was from a polygamous home. She was the 11th child of her late parents.

Aduke Gold came to stardom with her live performance at the first remembrance of the late gospel artiste, Baba Ara. Professionally, she started music in 2004.

One of her famous track “Nitori Ogo” which she released in 2021 also brought her into limelight. Apart from music, she was a child educator with a passion for teaching young children.

Aduke was a graduate of history and international relations from Lagos State University. She also had her second degree in Early Childhood Education from the University of Lagos.

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A man has shared an important lesson he has learnt from employment.

He said being likable is more important than being good at your job.

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