Super Micro surges on $60B backlog

Super Micro Computer shares surged over 15% after the server maker reported over $60 billion in new orders for its fiscal fourth quarter and raised its gross margin forecast to between 15% and 17%, up from a prior range of 8.2% to 8.4%. The company expects revenue at the low end of its $11 billion to $12.5 billion guidance. Rivals Dell and Hewlett Packard Enterprise also saw stock gains.