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Shares of Super Micro Computer (SMCI) dropped Friday after J.P. Morgan analysts downgraded the server maker's stock, citing concerns over the company's delayed annual report.

The analysts downgraded Super Micro's stock to "neutral" from "overweight" and cut their price target to $500 per share from $950—valuing the stock more similarly to other hardware manufacturers with "lower growth trajectories to account for the uncertainty."

Super MIcro's shares were recently down about 6% to near $389 apiece, leaving them up some 35% this year. Wall Street's mean price target is just above $450, according to Visible Alpha.

Super Micro recently delayed the release of its annual report, saying it needed more time to "complete its assessment of the design and operating effectiveness of its internal controls over financial reporting."

JP Morgan's analysts said the delay, which isn't Super Micro's first, could have an impact on the behavior of customers who could be looking for better prices from the server maker. They noted the delay could also cause an "overhang," recommending new investors "remain on the sidelines" until the uncertainty is resolved.

There is "not a clear rationale" for new investors to buy into Super Micro's stock until the company's regulatory issues are resolved," they wrote.

The stock has been under pressure following lackluster earnings. A report in late August from short seller Hindenburg Research accusing the company of “accounting manipulation, sibling self-dealing and sanctions evasion."

JPMorgan analysts wrote when the report was released that they believed there was "limited evidence" of problems with Super Micro's accounting, and said other issues raised like not communicating sales properly to investors do "not immediately suggest any wrongdoing."

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Qualcomm (QCOM) shares fell following a report that the company has looked into buying segments of Intel (INTC), potentially including its PC chip design business.

on Friday the maker of semiconductors for mobile devices has explored the idea of purchasing different parts of Intel. One of its sources said that the PC design unit is of “significant interest,” although they are considering all of Intel’s design operations. 

The report is the latest to describe possible deal activity for Intel, which is seeking to reinvigorate interest in its shares. One recent story indicated that it might sell some of its stake in MobilEye (MBLY); another discussed options regarding its foundry business. Intel's shares were recently down about 2%, whileQualcomm's were off more than 3%.

Reuters' Friday story quoted an Intel spokesperson as saying Qualcomm has not approached the company about any acquisitions, and that Intel is “deeply committed” to its PC business. Qualcomm did not immediately respond to Investopedia's request for comment.

Shares of Qualcomm are up some 9% year-to-date, while Intel shares have lost about 60% of their value.

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The Nigerian Education Loan Fund (NELFUND) says it received a N2 million refund from a Senior Advocate of Nigeria and former beneficiary of the defunct Federal Government Student Loan Scheme in the 1970s, Adegboyega Awomolo.

The Fund in a statement on Friday, September 6, said Awomolo, who benefitted from the loan during his undergraduate studies at the University of Ife (now Obafemi Awolowo University) in the 1975/1976 and 1976/1977 academic sessions, repaid the loan in full.

It said the loan, which at the time amounted to a total of N1,000 for both sessions, was instrumental in helping him complete his law degree.

The statement said despite several previous attempts, over the years, to refund the loan, Mr. Awomolo was unable to fulfill the repayment until now.

“In his letter dated 04/09/24 and addressed to the Managing Director/CEO of NELFUND, Mr. Akintunde Sawyerr, Mr. Awomolo expressed his gratitude to the Nigerian government for the opportunity that the student loan provided him, enabling him to pursue and complete his undergraduate studies without financial hardship.

He acknowledged the transparency and accountability that NELFUND has demonstrated in its current management of student loans, commending the organization’s efforts to ensure that deserving indigent students across the country can access educational funding.

His N2 million repayment serves as full and final settlement of his loan indebtedness, reflecting his dedication to upholding his responsibility to the nation.

This nationalistic act, follows a similar gesture announced on 27th August 2024 when another senior Nigerian, repaid his loan in full with the sum of N3,189,000,” the statement reads.

Meanwhile it said the funds will be used to fund the education of students who need the loan now.

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Salesforce (CRM) is expanding its reach into data security by purchasing startup Own for $1.9 billion in cash.

Salesforce President Steve Fisher said the acquisition would add to Salesforce's ability “to offer robust data protection and management solutions to our customers.”

The deal comes as Salesforce said “customers are increasingly focused on mitigating data loss due to system failures, human error, and cyberattacks." It noted that the advent of artificial intelligence (AI) has raised awareness of the need to protect and manage access to data.

Salesforce's venture capital division, Salesforce Ventures, was an investor in OwnBackup, Own’s previous name, taking part in a $240 million offering in August 2021. At the time, OwnBackup announced it was valued at nearly $3.5 billion.

The transaction is expected to be completed in Salesforce’s fiscal 2025 fourth quarter, which begins later this year. The company said the acquisition is not expected to affect its full-year guidance or its capital return program. 

Salesforce shares were 1.4% lower at $242.66 in early trading Friday. They've lost close to 7% of their value so far this year.

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UiPath (PATH) shares slipped Friday, handing back early morning gains, even as the enterprise automation and artificial intelligence (AI) software provider posted better-than-anticipated results and raised its revenue guidance.

UiPath reported fiscal 2025 second quarter adjusted earnings per share (EPS) of $0.04, with revenue up 10.1% to $316.3 million. Both exceeded estimates.

The company now sees full-year revenue in a range of $1.42 billion to $1.425 billion, up from a previously issued $1.405 billion to $1.410 billion. While that guidance marks an increase, it's still near Wall Street's current expectation, according to Visible Alpha data.

UiPath stock was recently dow nearly 3%. It's down about 50% in 2024 so far. The company said it was increasing its stock repurchase program by half a billion dollars, giving it an overall authorized total of $554 billion.

Annual recurring revenue (ARR) rose 19% to $1.55 billion, and net new ARR was $43 million.  Subscription services revenue jumped 21.7% to $194.7 million.

“Conversations with customers and partners deepen our conviction that there is an increasing need for AI and automation," founder and CEO Daniel Dines said.

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The Economic and Financial Crimes Commission, EFCC, has handed over 53 recovered vehicles and $180,300 to the Royal Canadian Mounted Police, RCMP, on behalf of the victims of financial crimes in Canada.

Ola Olukoyede, Chairman of the anti-graft agency handed over the recovered assets to the representatives of RCMP in Abuja on Friday, September 6.

Okukoyede said the vehicles were stolen from Canada and tracked to various car stands in Nigeria. Adding that nine of the vehicles were tracked to customs port, where they were awaiting clearance.

According to him, $164,000 was recovered for a Canadian, Elena Bogomas, in a romance scam, while $16,300 was also recovered for another Canadian, Sandra Butler.

He said one of the fraudsters used his proceeds to buy an estate and was later arrested, prosecuted and jailed, while the property was sold to recover the funds.

“It’s common knowledge that financial crimes have taken a new turn all across the globe.

The people who perpetrate these crimes do it in such a way that we discover that their activities are quite borderless and barbaric.

That’s why it has become very necessary and imperative for us to collaborate with our friends across the world. People share the same objective and mandate with us.

What the EFCC is doing today is doing on behalf of the Federal Government of Nigeria. It is also demonstrating the fact that the President has given us the mandate to extend our hands to ensure that this particular problem is resolved and that is exactly what we are doing here today,” he said.

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