markets

Luke Kawa11/6/25

D-Wave Quantum posts Q3 revenue beat

D-Wave Quantum reversed its premarket gains despite reporting better-than-expected Q3 sales, and is trading deep in the red minutes after the opening bell sounded.

The quarterly results:

Revenue: $3.7 million (compared to an analyst consensus estimate of $3.03 million)
Adjusted earnings per share: -$0.05 (estimate: -$0.07)

“Our strong third-quarter results reflect the momentum we see building across every aspect of our business, with key metrics, including revenue, gross profit, bookings, and cash balance, clearly indicating D-Wave’s success in accelerating global quantum computing adoption,” CEO Dr. Alan Baratz said.

D-Wave ended Q3 with $2.4 million in bookings (that is, its pipeline of expected future sales), but said that number has gone up by $12 million since the end of that quarter. Much of that appears to be linked to an agreement with Swiss Quantum Technology to deploy one of its systems.

The prospect of government support has been a major catalyst for the quantum space in recent months, including the US government deeming the technology an R&D priority, which was followed by a report that the Trump administration was in talks to accumulate equity stakes in D-Wave and its peers. D-Wave had outperformed rivals on this news, as this would have constituted a bigger shift in how the government feels about this annealing-centric quantum company relative to its peers, which focus on gate-based models. Back in May, Baratz told us he “couldn’t even get a foot in the door” with the US government, calling its focus on gate-based models “profoundly disappointing.”

However, that report of direct government investment in quantum computing stocks was quickly contradicted by separate reports.

Shares of the quantum computing company peaked at nearly $47 in mid-October, but slumped into the mid-$30 range ahead of this report as part of a broad pullback across many speculative pockets of the market.

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General Fusion CEO Greg Twinney spoke with Sherwood News from the Nasdaq during the stock’s first day of trading.

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markets

J. Edward Moreno7/7/26

SpaceX gets a wave of bullish ratings from Wall Street analysts

SpaceX received more than a dozen positive analyst calls on Tuesday — including from major Wall Street banks — as they initiate coverage on Elon Musk’s space and AI company.

SpaceX went public on June 12 at a $2.2 trillion valuation, the largest debut in history. While the company hasn’t yet posted a profit, it seems to have convinced Wall Street that it will get there and grow its valuation on the way.

Of the at least 17 analysts that gave a rating on Tuesday, all but one gave it a “buy” or “outperform” rating. MoffettNathanson was "neutral."

The ratings come as SpaceX joined the Nasdaq 100 index, a benchmark tech-heavy basket of companies that underpins millions of portfolios. The inclusion adds built-in demand for the stock from index funds and ETFs.

Still, SpaceX fell more than 5% on Tuesday amid a broader sell-off, and is currently effectively flat from its opening price of $150 a share.

US job growth falls far short of estimates in June; unemployment rate unexpectedly dips to 4.2%

Job growth was 57,000. Analysts foresaw job growth of 113,000; prediction markets were more optimistic, looking for job growth above 125,000 but below 150,000.

Floridians Seek Employment Opportunities At Job Fair In Sunrise

Meta surges on report it’s starting a cloud business to sell excess AI compute

The story of the hyperscalers in 2026 has largely been “the beatings will continue until the cash flow outlook improves;” this could help change the story for Meta. Or not.

Meta CEO Mark Zuckerberg visits U.S. Capitol for Senate meetings

markets

Paige Oamek6/30/26

Nike sinks to lowest level since 2014 after warning of “challenged” sales environment in Q4 report

Did Nike do it?

Investors had a mixed reaction after the global sports apparel company reported its fourth quarter earnings on Tuesday after the bell. Shares initially rose 5% as Nike beat out Wall Street expectations amid a hefty tariff refund bonus. However, the stock then sank to its lowest level since August 2014 in postmarket trading.

Here are the Q4 numbers:

Revenue of $11.0 billion (estimate: $10.8 billion).
Adjusted earnings per share of $0.20 (estimate: $0.12).

Ahead of this report, Nike warned that results would be flattered by a one-time tariff refund (now estimated at roughly $0.52 per share for the bottom line). That gave the company an extra cushion in snapping its streak of seven quarters of year-over-year profit declines.

Over the past year, the company had been punished by tariffs on imported goods, stagnant consumer spending, and increasing competition from other footwear brands like New Balance, Adidas, and Hoka.

Outgoing CFO Matthew Friend deemed it an “increasingly challenging operating environment, where sell-through remains challenged.”

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