Finance
Super Micro Confirms It Will Delay Annual Financial Filings
(Bloomberg) — Super Micro Computer Inc. said that it won’t file its annual financial report while a special board committee reviews internal controls, confirming a statement earlier this week that sent the shares on their worst drop in almost six years.
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The maker of computer servers said it would take “unreasonable effort or expense” to file on time its annual 10-K financial disclosures for the quarter and fiscal year ended June 30.
Super Micro first announced on Aug. 28 that it would delay the financial documents and confirmed its decision Friday in a regulatory filing. The San Jose, California-based company said a special committee is working diligently to assess the effectiveness of its internal controls over financial reporting.
Earlier this week, short-seller Hindenburg Research released a critical report alleging “glaring accounting red flags, evidence of undisclosed related party transactions, sanctions and export control failures, and customer issues.”
Super Micro repeated its assertion that it doesn’t expect the annual financial filing to contain any material changes to its results announced on Aug. 6.
After Friday’s filing, the shares gained about 2% in extended trading. Earlier, the stock suffered its worst week since October 2018, dropping 29% to $437.70 at the close in New York.
The company sells high-powered servers for data centers and has experienced an explosion in demand for its wares amid the artificial intelligence boom, making its shares a proxy for enthusiasm in the technology. Super Micro’s stock more than tripled last year.
–With assistance from Brody Ford.
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Finance
Voya Financial declares common and preferred stock dividends
NEW YORK, January 30, 2025–(BUSINESS WIRE)–Voya Financial, Inc. (NYSE: VOYA) announced today that its board of directors has declared a common stock dividend of $0.45 per share for the first quarter of 2025. The common stock dividend is payable on March 27, 2025, to shareholders of record as of Feb. 25, 2025.
Additionally, Voya’s board declared a semi-annual dividend of $38.79 per share on the company’s Series A 7.758% fixed-rate reset non-cumulative preferred stock (the “Series A Preferred Stock”). The board also declared a quarterly dividend of $13.3750 per share on the company’s Series B 5.35% fixed-rate reset non-cumulative preferred stock (the “Series B Preferred Stock”), equivalent to $0.334375 per depositary share, each of which represents a 1/40th ownership interest in a share of Series B Preferred Stock. The first quarter preferred stock dividends are payable on March 17, 2025, to shareholders of record as of Feb. 25, 2025.
About Voya Financial®
Voya Financial, Inc. (NYSE: VOYA) is a leading health, wealth and investment company with approximately 9,000 employees who are focused on achieving Voya’s aspirational vision: “Clearing your path to financial confidence and a more fulfilling life.” Through products, solutions and technologies, Voya helps its 15.2 million individual, workplace and institutional clients become well planned, well invested and well protected. Benefitfocus, a Voya company and a leading benefits administration provider, extends the reach of Voya’s workplace benefits and savings offerings by engaging directly with over 12 million employees in the U.S. Certified as a “Great Place to Work” by the Great Place to Work® Institute, Voya is purpose-driven and committed to conducting business in a way that is economically, ethically, socially and environmentally responsible. Voya has earned recognition as: one of the World’s Most Ethical Companies® by Ethisphere; a member of the Bloomberg Gender-Equality Index; and a “Best Place to Work for Disability Inclusion” on the Disability Equality Index. For more information, visit voya.com. Follow Voya Financial on Facebook, LinkedIn and Instagram.
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View source version on businesswire.com: https://www.businesswire.com/news/home/20250130274359/en/
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Finance
Jean Chatzky on the growing interest in personal finance education
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Finance
Here’s what the federal government does for you
As pandemonium descended Tuesday after the Trump administration directed a freeze on federal funding, the chaos drove home a salient point: The federal government does a lot for you.
The administration targeted 2,623 federal programs for review in circulated instructions, ordering agencies to “temporarily pause all activities related to…all Federal financial assistance.” Funding for programs that provide health insurance, childcare, food assistance, housing aid, and much, much more remained uncertain.
Disrupting the federal government plumbing is a delicate process that, if done crudely, could hit vital lifelines for the American people. You simply can’t turn off the water — even temporarily.
“The government is involved in things that people don’t feel all the time, a lot of things we take for granted like safe drinking water,” said Bobby Kogan, senior director of federal budget policy at the left-leaning think tank Center for American Progress. “Except when it fails miserably.”
Few federal programs seemed exempt from the directive that came from the Office of Management and Budget. More than 50 agencies were tasked with conducting reviews during the freeze to make sure their programs complied with the president’s executive orders.
The ones that sparked the most outrage were programs that help America’s most vulnerable with funding deadlines looming over the next few days, such as Section 8 housing assistance, Medicaid, and the Head Start reimbursement program that gives low-income families money for their children’s education.
They were also some of the payment systems that went down on Tuesday.
“That could have truly harmed people — if you take away people’s nutrition, healthcare, housing, education — things people depend on,” Kogan said.
What may still be in the crosshairs: under-the-radar supports that millions of Americans rely on but may not recognize on a daily basis.
There are loans for farm storage, grants to ensure safe drinking water, funding to implement pool and spa safety laws, money for suicide prevention for veterans, and grants for AmeriCorps programs. The beneficiaries of this funding run the gamut: farmers, Native tribes, seniors, people with disabilities, those living in rural areas, children, veterans, and victims of mass violence and acts of terror.
There’s even a grant to Florida to reimburse citrus producers for the costs associated with recovering from the 2017 hurricane destruction.
What’s the federal government good for? Seems like a lot.
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