Macy’s reported better-than-expected third-quarter sales of $4.74 billion, but overall sales decreased and the company is grappling with the fallout from a $151 million accounting error. Despite this, Macy’s projects slightly improved 2024 sales guidance, though EPS expectations have been lowered.
NVIDIA, the leading graphics chip maker, has reportedly begun redirecting orders away from Super Micro Computer (SMCI) following a series of controversies that include a DOJ investigation and the sudden resignation of SCMI’s accounting firm. This move comes as SCMI faces serious allegations of financial impropriety, leaving the company in a precarious position.
