Closing Bell: Riot Platforms Rises, eToro Falls, Super Micro Delivers Earnings

On this episode of Stock Movers:

Listen for comprehensive cross-platform coverage of the US market close as heard on Bloomberg Television, Bloomberg Radio, and YouTube with Romaine Bostick, Carol Massar and Tim Stenovec. 

- Riot Platforms (RIOT) continues to rally after it struck a deal with Anthropic earlier this week. Riot disclosed earlier on Monday that it had secured a 20-year deal to supply 191 megawatts of capacity — enough to energize roughly 143,000 homes at any given moment — from its Rockdale, Texas, campus to a “leading frontier AI” company. That company is Anthropic, the people said, asking not to be identified discussing private information. Riot is a Bitcoin mining company that recently began selling AI data center capacity. 

- eToro (ETOR) shares fell after the fintech company reported revenue from crypto assets for the second quarter that missed the average analyst estimate. It also announced a deal to buy TradeZero for up to $231 million.

- Super Micro (SMCI) gave a sales forecast for the current quarter that topped analysts’ estimates, a sign the booming artificial intelligence market continues to bolster sales of the company’s servers. Sales will be $14.5 billion to $15.5 billion in the period ending in September, the company said Tuesday in a statement. Profit, excluding some items, will be $1.01 to $1.10 cents a share. Analysts polled by Bloomberg projected sales, on average of $12 billion, and profit of 74 cents. The outlook topped even the highest analyst revenue estimate of $13.3 billion. Shares jumped about 9% in extended trading after closing at $31.60 in New York. The stock has gained 8% this year.

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