Markets
markets
Luke Kawa

Quantum-computing stocks jump as Nvidia tries to kiss and make up with the industry

Quantum-computing stocks are surging as Nvidia offers an olive branch to the industry its top executive smacked down last week.

The chip designer powering the AI boom announced that it’s “celebrating and exploring this remarkable progress in quantum computing” by hosting a Quantum Day at its conference in March, including discussions between industry leaders and Nvidia CEO Jensen Huang as well as “sessions exploring what’s possible and available now in quantum computing.”

D-Wave Quantum jumped 22% just after the open, Quantum Computing and Rigetti Computing both rose more than 20%, and IonQ was up about 15% as of 9:40 a.m. ET, building on Tuesday’s gains.

It turns out if you are working with “just about every” company in an industry, and then say that industry’s top product is 15 to 30 years away from being “very useful,” those companies might be understandably peeved at you and you might want to make nice.

Those remarks on quantum computing, made by Huang at CES in Las Vegas on January 7, drove $8.3 billion in value destruction across Rigetti Computing, D-Wave Quantum, Quantum Computing, and IonQ the following session, and sparked fierce backlash from the industry.

D-Wave Quantum CEO Alan Baratz told Sherwood News that Huang “doesn’t fully understand the quantum industry” and is “totally off-base” when it comes to his company in particular.

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Nia Warfield, Luke Kawa
14h
US stocks end a down week with a gain

An up day but a down week for the benchmark US stock index.

Cowboy Riding Bucking Steer
markets
Luke Kawa

Crocs rises on new marketing campaign for HeyDude brand starring Sydney Sweeney


Sydney Sweeney has great... feet?

Shares of Crocs are rising after the footwear company’s HeyDude brand unveiled a new marketing effort starring actress Sydney Sweeney for its Austin Lift shoe line.

Sweeney’s controversial ad campaign for American Eagle spurred a massive jump in the denim maker’s shares, caught the attention of the president, and prompted “an uptick in customer awareness, engagement, and comparable sales,” per American Eagle’s management.

Sweeney was first announced as HeyDude’s global spokesperson in August 2024, and doesn’t seem to have given the brand a major boost so far.

Max Knoblauch
18h

Ford and GM reach 52-week highs as EPA seeks to repeal emissions rules

Shares of Ford and GM are each trading at 52-week highs on Friday, as investors pile into gas-powered US automakers with the looming end of the EV tax credit and the Trump administration’s potential repeal of vehicle emissions standards.

A lobby representing Ford, GM, and nearly all other major automakers has expressed support for the EPA’s proposal to repeal the long-standing endangerment finding that declared greenhouse gases a threat to human life. The finding provides the legal foundation for the EPA to regulate vehicle emissions.

Yesterday, EV giant Tesla urged the Trump administration to keep the standards in place.

Friday afternoon saw Ford shares reach their highest level since July 2024, while GM’s stock hit highs not seen since January 2022.

Citi equity analysts on the key valuation issue facing the market.

Citi’s US market analyst on the key valuation test facing the market

“It kind of comes down to, what inning do you think we are in this AI game?”

Matt Phillips20h
markets
Luke Kawa

GameStop surges as company offers promotions to boost launch of “Pokémon” Mega Evolution set

GameStop is jumping as the company offers promotions to boost interest for today’s North American launch of the Mega Evolution set of the “Pokémon Trading Card Game.”

Options activity is a little more tilted to the bull side than usual. Over the past month, a little less than four calls have changed hands for every put option. As of 10:22 a.m. ET, that ratio is over five to one.

It’s a big day for collectibles fans and gamers alike: beyond the “Pokémon TCG” drop, there are also new collections from “Yu-Gi-Oh!” and “Magic: The Gathering” being released and “EA SPORTS FC 26,” as well.

As we’ve written, “Pokémon” trading cards have been skyrocketing in value, and GameStop’s collectibles business has been accelerating. These are two sides of the same coin.

Mega Gardevoir... here I come!

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