NuCana Stock (NASDAQ:NCNA), Trade Ideas

NuCana

NuCana PLC is a biopharmaceutical company focused on improving treatment outcomes for cancer patients by ProTide technology. Utilizing proprietary ProTide technology, the firm is developing new medicines designed to overcome key cancer resistance mechanisms and generate much higher concentrations of anti-cancer metabolites in cancer cells. The company's ProTide pipeline products are NUC-3373, NUC-7738, Acelarin. Geographically operates through the region of the United States.

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XXII

Shares of  Kodiak Sciences Inc.  (NASDAQ: KOD) fell sharply during Thursday’s session after the company reported a wider-than-expected fourth-quarter loss.

Kodiak Sciences posted a quarterly loss of $1.13 per share, compared to market expectations for a loss of 77 cents per share.

Why Kodiak Sciences Shares Are Trading Lower By Around 20%? Here Are Other Stocks Moving In Thursday&#39;s Mid-Day Session

stock-1863880 (1)

NuCana shares are trading lower by 16.6% during Thursday&#39;s session. The company late Wednesday said it intends to adjust the ratio of its American Depository Shares (ADSs).

Why NuCana (NCNA) Shares Are Trading Lower

Pre-Market Outlook

AKBA

LGVN

Shares of  RH (NYSE: RH) rose sharply in today’s pre-market trading following the release of quarterly results.

Why RH Shares Are Trading Higher By Around 9%; Here Are 20 Stocks Moving Premarket

NuCana PLC

ResMed (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RMD#NYSE">RMD</a>) reported better-than-expected <a href="https://www.benzinga.com/quote/RMD/earnings">third-quarter financial results</a> on Thursday.
ResMed posted adjusted earnings of $2.13 per share, beating market expectations of $1.91 per share. The company's quarterly sales came in at $1.200 billion versus estimates of $1.167 billion, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
Gross margin rose 260 bps to 57.9%, while non-GAAP gross margin increased 240 bps to 58.5%.
&#8220;ResMed&#8217;s strong third-quarter fiscal year 2024 results reflect robust patient and customer demand for our products and software solutions, leading to double-digit mask and accessories revenue growth along with ongoing operational efficiencies to drive margin improvement and increased profitability, resulting in double-digit growth in both operating profit and earnings per share,&#8221; said Mick Farrell, ResMed&#8217;s Chairman &amp; CEO. &#8220;Over 2 billion people worldwide can benefit from a ResMed solution to help them sleep better, breathe better, and receive best-in-class healthcare right where they live. We remain laser-focused on bringing market-leading innovation to customers, including our latest AirCurve11 range of non-invasive ventilators and our recently launched AirFit F40 mask system, combined with our entire portfolio of products, software, and solutions, allowing us to continue to deliver value for all our stakeholders.&#8221;
ResMed shares fell 0.2% to close at $183.42 on Thursday.
These analysts made changes to their price targets on ResMed following earnings announcement.
<ul>
<li>Needham increased the price target on ResMed from $224 to $236. Needham analyst Mike Matson maintained a Buy rating.</li>
<li>Keybanc boosted the price target on ResMed from $227 to $238. Keybanc analyst Brett Fishbin maintained an Overweight rating.</li>
</ul>
Also Check This Out: <a href="https://www.benzinga.com/news/earnings/24/04/38452338/microsoft-alphabet-and-3-stocks-to-watch-heading-into-friday">Microsoft, Alphabet And 3 Stocks To Watch Heading Into Friday</a>

Earnings

Price Target

ResMed Analysts Boost Their Forecasts After Better-Than-Expected Earnings

CleanCore Solutions, Inc. (NYSE:<a href="https://www.benzinga.com/stock/ZONE#NYSE">ZONE</a>) ("CleanCore" or the "Company"), developer of the patented aqueous ozone technology that works as an all-purpose cleaner, announced the pricing of its initial public offering (the "Offering") of 1,250,000 shares of common stock at a price to the public of $4.00 per share for gross Offering proceeds of $5,000,000. The shares are expected to begin trading on the NYSE American stock exchange on Friday, April 26, 2024, under the ticker symbol "ZONE".
The Offering is expected to close on&nbsp;Tuesday, April 30, 2024, subject to the satisfaction of customary closing conditions. Net proceeds to the Company, after deducting underwriting discounts and commissions and other offering expenses, are expected to be approximately&nbsp;$3,760,000. The Company intends to use the net proceeds from this Offering for the repayment of certain debt, research and development and for intellectual property, and for working capital and general corporate purposes.
In addition, the Company has granted the underwriters a 45-day option to purchase up to an additional 187,500 shares, at the Offering price, less underwriting discounts and commissions.
Boustead Securities,&nbsp;LLC is acting as the sole book-running manager for the Offering.

IPOs

ZONE

CleanCore Solutions, Inc. Announces Pricing Of $5M Initial Public Offering Of 1.25M Shares Of Common Stock A Price Of $4/Share

WIIM

ICLK

iClick Interactive Asia shares are trading lower after the company announced the termination of its merger agreement.

Bernstein analyst Stacy Rasgon maintains Intel (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>) with a Market Perform and lowers the price target from $42 to $35.

Analyst Ratings

INTC

Bernstein Maintains Market Perform on Intel, Lowers Price Target to $35

Canaccord Genuity analyst Richard Close maintains Accolade (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ACCD#NASDAQ">ACCD</a>) with a Buy and lowers the price target from $18 to $16.

ACCD

Canaccord Genuity Maintains Buy on Accolade, Lowers Price Target to $16

Offerings

HRTG

Heritage Insurance Files Mixed Securities Shelf Offering For Up To $100M

Morgan Stanley analyst Joseph Moore maintains Western Digital (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WDC#NASDAQ">WDC</a>) with a Overweight and raises the price target from $83 to $86.

Morgan Stanley Maintains Overweight on Western Digital, Raises Price Target to $86

Financial Targets:
Atlassian is providing its financial targets as follows:
Fourth Quarter Fiscal Year 2024:
<ul>
<li>Total revenue is expected to be in the range of $1,120 million to $1,135 million.</li>
<li>Cloud revenue growth year-over-year is expected to be approximately 32%.</li>
<li>Data Center revenue growth year-over-year is expected to be in the range of 40% to 42%.</li>
<li>Gross margin is expected to be approximately 81.0% on a GAAP basis and approximately 83.5% on a non-GAAP basis.</li>
<li>Operating margin is expected to be approximately (7.0%) on a GAAP basis and approximately 18.5% on a non-GAAP basis.</li>
</ul>
For additional commentary regarding financial targets, please see Atlassian's third quarter fiscal year 2024 shareholder letter dated April 25, 2024.
With respect to Atlassian's expectations under "Financial Targets" above, a reconciliation of GAAP to non-GAAP gross margin and operating margin has been provided in the financial statement tables included in this press release.

Guidance

TEAM

On Thursday April 25, 2024, Atlassian Reported Q4 Revenue Guidance Of $1.12B-$1.135B Vs $1.11B Est.; Expected Cloud Revenue Growth YoY Is ~32%; Expected Data Center Revenue Growth YoY In The Range Of 40%-42%

Morgan Stanley analyst Joseph Moore maintains Intel (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>) with a Equal-Weight and lowers the price target from $48 to $36.

Morgan Stanley Maintains Equal-Weight on Intel, Lowers Price Target to $36

Colgate-Palmolive Company&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CL#NYSE">CL</a>) shares are trading slightly higher after the consumer giant reported first-quarter FY24 sales growth of 6.2% year-on-year to $5.065 billion,&nbsp;<a target="_blank" href="https://www.benzinga.com/pressreleases/24/04/b38455591/colgate-announces-1st-quarter-2024-results" rel="noreferrer noopener">beating the analyst consensus estimate of $4.956 billion</a>.
Organic sales increased by 9.8%. Total Oral, Personal, and Home Care net sales increased&nbsp;by&nbsp;6.8% to $3.96 billion.
Non-GAAP EPS of $0.86&nbsp;<a target="_blank" href="https://www.benzinga.com/calendars/earnings" rel="noreferrer noopener">beat the consensus estimate of $0.81.</a>
Gross profit was $3.03 billion, while the margin expanded 310 basis points to 60%. Selling, general and administrative expenses rose 9% to $1.9 billion.
Operating margin expanded 160 basis points to 20.7%, and operating income for the quarter increased 15.2% to $1.04 billion.
The company held $1.07 billion in cash and equivalents as of March-end. Operating cash flow totaled $681 million.
&#8220;The strong gross and operating margin expansion in the quarter funded a 16% increase in advertising&nbsp;and&nbsp;we expect strong levels of brand investment over the balance of 2024,&#8221; said Chairman, President, and CEO Noel Wallace.
Outlook: Colgate raised FY24 net sales growth guidance to 2%-5% (prior view 1%-4%). The company also raised its organic sales growth <a href="https://www.benzinga.com/calendars/guidance">outlook to 5%-7% (prior view 3%-5%).</a>
On a non-GAAP basis, the company still expects gross profit margin expansion, increased advertising investment,&nbsp;and mid to high-single-digit earnings-per-share growth.
Price Action: CL shares are trading higher by 0.85% at $90.05 in premarket at the last check Friday.
Photo by Nik on Unsplash

Equities

General

Colgate-Palmolive Eyes Strong Levels of Brand Investment Following Q1 Performance, Raises Annual Revenue Growth Outlook

Morgan Stanley analyst Brian Nowak maintains Alphabet (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) with a Overweight and raises the price target from $165 to $195.

GOOG

GOOGL

Morgan Stanley Maintains Overweight on Alphabet, Raises Price Target to $195

JMP Securities analyst Andrew Boone maintains Alphabet (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) with a Market Outperform and raises the price target from $160 to $200.

JMP Securities Maintains Market Outperform on Alphabet, Raises Price Target to $200

Paramount Global&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PARA#NASDAQ">PARA</a>) and Skydance Media are advancing towards a merger, with discussions to purchase out controlling shareholder Shari Redstone underway, CNBC&nbsp;<a target="_blank" href="https://www.cnbc.com/2024/04/25/paramount-skydance-inch-closer-to-a-merger-agreement.html" rel="noreferrer noopener">cites</a>&nbsp;sources.
Paramount Global&#8217;s special committee and David Ellison&#8217;s Skydance Media, supported by private equity firms KKR and RedBird Capital Partners, are honing the valuation of Skydance&#8217;s assets for the merger and determining the equity to&nbsp;be added&nbsp;for recapitalization.
The parties are nearing an agreement on valuing Skydance at about $5 billion to merge with Paramount Global, CNBC writes.&nbsp;
Ellison and the supporting private equity firms intend to raise approximately $4.5 billion to $5 billion in new equity. Around $2 billion would go towards paying Redstone, with a significant amount also allocated for debt reduction.
The buyers are aiming to finalize the deal in May. However, delays in data provision by Paramount Global during due diligence have slightly postponed the timeline, according to three sources, CNBC notes.
The exclusivity period for merger discussions ends on May 3, but the Skydance consortium seeks a two-week extension.
Ellison is slated to become the CEO of the merged entity, Paramount Global, and former NBCUniversal CEO Jeff Shell will likely be appointed president. Current Paramount CEO Bob Bakish would leave the company.
The deal had&nbsp;<a target="_blank" href="https://www.benzinga.com/markets/equities/24/04/38219573/paramount-shareholders-express-concerns-over-potential-skydance-media-merger-any-merger-talks-th" rel="noreferrer noopener">sparked investor concerns</a>&nbsp;about the deal&#8217;s fairness and the exploration of alternative options. Not all shareholders&nbsp;are in favor of&nbsp;the potential $4 billion to $5 billion stock deal. Four Paramount directors departed amid Skydance merger discussions.
<a target="_blank" href="https://www.benzinga.com/markets/equities/24/04/38335444/why-paramount-global-shares-are-gaining-today" rel="noreferrer noopener">In a separate development</a>, private equity firm&nbsp;Apollo Global Management, Inc&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/APO#NYSE">APO</a>) and&nbsp;Sony Group Corp&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SONY#NYSE">SONY</a>) have engaged in preliminary talks about a potential deal to buy out all Paramount Global shareholders at a premium.&nbsp;
Apollo had previously offered a $26 billion bid for the company and a $11 billion proposal for Paramount&#8217;s film studio.&nbsp;
PARA stock lost 44% in the last 12 months. Investors can gain exposure to the stock via&nbsp;Invesco S&amp;P 500 Equal Weight Communication Services ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RSPC#NYSE">RSPC</a>) and&nbsp;Invesco Leisure And Entertainment ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PEJ#NYSE">PEJ</a>).
Price Action: PARA shares were down 1.72% to $11.87 at the last check on Friday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Image by viewimage via Shutterstock

Media

PARA

PowerShares ETF Leisure & Entertainment Port

RSPC

Sony Group Corporation American Depositary Shares

SONY

Paramount-Skydance Merger Talks Heat Up

ENPH

Enphase Energy shares are trading higher after Barclays upgraded the stock from Equal-Weight to Overweight.

Keybanc analyst Brett Fishbin maintains ResMed (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RMD#NYSE">RMD</a>) with a Overweight and raises the price target from $227 to $238.

Keybanc Maintains Overweight on ResMed, Raises Price Target to $238

During times of turbulence and uncertainty in the markets, many investors turn to dividend-yielding stocks. These are often companies that have high free cash flows and reward shareholders with a <a href="https://www.benzinga.com/yield-investments">high dividend payout</a>.
Benzinga readers can review the latest analyst takes on their favorite stocks by visiting our <a href="https://www.benzinga.com/analyst-stock-ratings">Analyst Stock Ratings</a> page. Traders can sort through Benzinga's extensive database of analyst ratings, including <a href="https://www.benzinga.com/analyst-ratings/analyst-color/22/09/28888638/exclusive-study-finds-benzinga-analyst-ratings-data-yields-market-beating-strategie">by analyst accuracy</a>.
Below are the ratings of the most accurate analysts for three high-yielding stocks in the industrials sector.
<h3 class="wp-block-heading">Kennametal Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KMT#NYSE">KMT</a>)</h3>
<ul>
<li>Dividend Yield: 3.37%</li>
<li>Barclays analyst Julian Mitchell maintained an Equal-Weight rating and cut the price target from $25 to $24 on April 2. This analyst has an accuracy rate of 77%.</li>
<li>JP Morgan analyst Tami Zakaria maintained an Underweight rating and lowered the price target from $26 to $24 on Feb. 8. This analyst has an accuracy rate of 76%.</li>
<li>Recent News: Kennametal said it will host its third quarter fiscal year 2024 earnings call on Wednesday, May 8.</li>
</ul>
<h3 class="wp-block-heading">C.H. Robinson Worldwide, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHRW#NASDAQ">CHRW</a>)</h3>
<ul>
<li>Dividend Yield: 3.47%</li>
<li>B of A Securities analyst Ken Hoexter maintained an Underperform rating and cut the price target from $70 to $68 on April 15, 2024. This analyst has an accuracy rate of 70%.</li>
<li>JP Morgan analyst Brian Ossenbeck maintained an Underweight rating and slashed the price target from $75 to $70 on April 9. This analyst has an accuracy rate of 75%.</li>
<li>Recent News: C.H. Robinson Worldwide said it will issue its first quarter results after the closing bell on Wednesday, May 1.</li>
</ul>
<h3 class="wp-block-heading">MSC Industrial Direct Co., Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MSM#NYSE">MSM</a>)</h3>
<ul>
<li>Dividend Yield: 3.56%</li>
<li>Stephens &amp; Co. analyst Tommy Moll reiterated an Overweight rating with a price target of $110 on April 1. This analyst has an accuracy rate of 75%.</li>
<li>Keybanc analyst Ken Newman maintained an Overweight rating and cut the price target from $105 to $102 on Jan. 10. This analyst has an accuracy rate of 80%.</li>
<li>Recent News: On March 28, MSC Industrial Direct posted better-than-expected quarterly earnings.</li>
</ul>
Read More: <a href="https://www.benzinga.com/news/earnings/24/04/38452338/microsoft-alphabet-and-3-stocks-to-watch-heading-into-friday">Microsoft, Alphabet And 3 Stocks To Watch Heading Into Friday</a>

Dividends

CHRW

Wall Street's Most Accurate Analysts' Views On 3 Industrials Stocks With Over 3% Dividend Yields

Comfort Systems shares are trading higher after the company reported better-than-expected Q1 financial results and increased its quarterly dividend.

Evercore ISI Group analyst Mark Lipacis maintains Intel (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>) with a In-Line and lowers the price target from $40 to $36.

Evercore ISI Group Maintains In-Line on Intel, Lowers Price Target to $36

The Novera QPU Partner Program aims to enable high-performing, on-premises quantum computing by creating an ecosystem of quantum computing hardware, software, and service providers who build and offer integral components of a functional quantum computing system. Novera QPU customers can work with Novera QPU partners to build a quantum computer powered by the Novera QPU that satisfies their system requirements and quantum computing research objectives.
BERKELEY, Calif., April 26, 2024 (GLOBE NEWSWIRE) -- Rigetti Computing, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RGTI#NASDAQ">RGTI</a>) ("Rigetti" or the "Company"), a pioneer in full-stack quantum-classical computing, announces the launch of the Novera&#x2122; QPU Partner Program. The Novera QPU Partner Program is an ecosystem of quantum computing hardware, software and service providers who build and offer integral components of a functional quantum computing system. Novera QPU customers who need control systems, a dilution refrigerator, quantum computing software tools, or integration services can integrate their Novera QPU with Novera QPU Partners' technology with the assurance of compatibility and quality. &nbsp;
The founding members of the Novera QPU Partner Program include some of Rigetti's most long-time partners and are leaders in their respective areas of quantum computing technology:
<ul>
<li>Cryogenics: Bluefors</li>
<li>Control Systems:
<ul>
<li>Quantum Machines</li>
<li>Zurich Instruments</li>
</ul>
</li>
<li>Software:
<ul>
<li>Q-CTRL</li>
<li>Strangeworks</li>
<li>Classiq</li>
<li>Horizon Quantum Computing</li>
</ul>
</li>
<li>Integration and Service Providers:
<ul>
<li>TreQ</li>
<li>ParTec AG</li>
</ul>
</li>
<li>QEC Solutions: Riverlane</li>
</ul>
Rigetti intends on growing the Novera QPU Partner Program with additional partners on an ongoing basis.
The Novera QPU is a 9-qubit quantum processing unit (QPU) based on the Company's fourth generation Ankaa&#x2122;-class architecture featuring tunable couplers and a square lattice for denser connectivity and fast 2-qubit operations. The Novera QPU is manufactured in Rigetti's Fab-1, the industry's first dedicated and integrated quantum device manufacturing facility.
The Novera QPU includes all of the hardware below the mixing chamber plate (MXC) of a dilution refrigerator. In addition to a 9-qubit chip with a 3x3 array of tunable transmons, a 5-qubit chip with no tunable couplers or qubit-qubit coupling which can be used for developing and characterizing single-qubit operations on a simpler circuit, the Novera QPU components include:
<ul>
<li>A puck that contains both the 9-qubit and 5-qubit chips, interposers and a PCB to route signals to SMPM connectors at the puck periphery.</li>
<li>A tower that hangs from the MXC and connects coaxial cables between the puck and the SMA patch panel. The tower delivers cooling power from the MXC to the chips.</li>
<li>Shields that surround the tower to isolate the puck from infrared radiation and stray magnetic fields.</li>
<li>Payload brackets and a signal chain installed around the tower with mounted signal conditioning devices, including ferrite isolators, diplexers, filters, and optional quantum-limited amplifiers.</li>
</ul>
While a QPU is the core of a quantum computer, in order to have a functioning quantum computing system, the installation must also include (1) a dilution refrigerator and (2) a control system. Depending on a customer's research goals, system requirements, and use cases, there are also a variety of quantum software and integration resources that can be integrated with the Novera QPU.
Dr. Subodh Kulkarni, Rigetti CEO, said: "With the Novera QPU, we have a unique opportunity to support the development of on-premises quantum computing capabilities worldwide. At Rigetti, we are experts at overcoming the challenges of building, installing, and supporting a quantum computing system. After a decade in the quantum computing industry, we've also forged long lasting partnerships with world-leading quantum technology companies whose collaborations and expertise helped us advance our capabilities even further. We want to empower Novera QPU customers with an ecosystem of our trusted partners to support their own quantum computing research pursuits, and to help prepare us for a quantum-ready society."
David Gunnarsson, Bluefors CTO, said: "Bluefors' Dilution Refrigerator Measurement Systems are renowned for their unmatched reliability, and today we have more than 1,250 units in operation worldwide. It's important for us to continue to innovate and develop critical components of a high performing quantum computer. Bluefors next generation gas handling system supports the deployment and easy to use cryogenics for on-premises quantum systems. We have the capability to support our customers with best in industry lead time and we are thrilled to be leading the field and pushing the boundaries of ultra-low temperature cooling."
Nir Minerbi, Classiq CEO, said: "Quantum computing relies on bringing together a collection of technologies in order to achieve the best fitting and performing solution. Classiq is proud to be providing efficient, scalable quantum computing software to facilitate best-practice algorithm development with Novera."
Joe Fitzsimons, Horizon Quantum Computing CEO, said: "Rigetti was one of the pioneers of cloud-based quantum computing, and we are delighted to partner with them as Rigetti processors begin to power on-premises systems. As the industry pushes towards quantum advantage, a strong ecosystem and close collaboration between hardware and software efforts is more important than ever. The Novera QPU Partner Program is a welcome new instrument for building collaboration and allowing for tight integration between technologies at all levels of the quantum computing stack."
Bernhard Frohwitter, ParTec AG CEO, said: "The Novera QPU Partner Program is an essential building block in ParTec's strategy of becoming a quantum computing system integrator, building full-stack solutions using a component-based design that relies on a supply chain of quantum technology providers. ParTec looks forward to integrating the Novera QPU in our holistic quantum computer solutions and working with customers on unleashing its potential."
Michael J. Biercuk, Q-CTRL CEO and Founder, said: "The team at Q-CTRL has been excited to work with the Rigetti team to show how the right combination of hardware and infrastructure software can help deliver huge capabilities&nbsp;and performance enhancements to end users. Now we're thrilled to be delivering this capability directly to researchers and customers of the Novera QPU to help them achieve their goals using quantum computing with optimal performance."
Dr. Itamar Sivan, co-founder and CEO of Quantum Machines, said: "We're excited to be one of the founding members of the Novera QPU Partner Program. OPX1000 enables users to control their Novera QPU in real-time and push the boundaries of what algorithms and experiments can be performed. By integrating our OPX family of high-performance, processor-based controllers with Rigetti's advanced QPU technology, we are paving the path to accessible, powerful quantum computing solutions and accelerated time-to-market. Our partnership embodies our commitment to delivering industry-leading quantum control capabilities that push the boundaries of our industry closer to real-world applications."
Steve Brierley, founder and CEO of Riverlane said: "Together, Riverlane's Quantum Error Correction Stack and Rigetti's Novera QPU go hand in glove. End users can use our stack holistically or in parts. This includes our hardware decoder, optimized for Rigetti's architecture; our suite of public and proprietary software decoders, ‘QEC Explorer'; and ‘Aqueduct', our open quantum experiment management platform."
whurley, founder and CEO of Strangeworks, said: ​​"This Partner Program will enable organizations to procure and build powerful quantum computers at a fraction of the price of commercial systems today. We are thrilled to be one of the first members of the Novera QPU Partner Program and deepen our existing partnership with Rigetti."
Mandy Birch, CEO of TreQ said: "TreQ is delighted to partner with Rigetti to build and operate on-premises quantum computing systems that include the Novera QPU. We look forward to supporting pathfinders around the world who are expediting useful and usable next-gen computing infrastructure to elevate their businesses, institutions, and communities."
Moritz Kirste, Head of Business Development Quantum Technologies at Zurich Instruments, said: "We are excited to be one of the founding members of Rigetti's Novera QPU Partner Program. Zurich Instruments started contributing to quantum technologies in 2015, and ever since we are committed to Swiss quality standards in R&amp;D and in production. This partnership opens new pathways to support our customers with full-stack solutions, locally by our experts in seven international offices."
Among the early adopters of small-scale, high performing QPUs like the Novera QPU, are government agencies. The first two Novera QPU sales were to leading US government labs — the Superconducting Quantum Materials and Systems Center (SQMS) led by Fermilab, and the Air Force Research Lab (AFRL). Rigetti also recently sold a Novera QPU to Horizon Quantum Computing for their first quantum computing system, to be installed in their new hardware testbed in Singapore. Quantum computing researchers across academia and industry are also beginning to invest in this technology as it is a promising resource to advance quantum computing workforce development.
The Novera QPU Partner Program launch follows Rigetti's recent achievements with its larger-scale Ankaa-class quantum systems. Rigetti's 84-qubit Ankaa-2 system, which is available over the cloud via Rigetti's Quantum Cloud Services (QCS&#xAE;) cloud computing platform, recently achieved a 98% median 2-qubit gate fidelity. This performance marks a 2.5X increase in error performance compared to the Company's previous QPUs. Rigetti was also recently awarded an Innovate UK competition to deliver a 24-qubit Ankaa-class quantum computing system to the UK's National Quantum Computing Centre.

RGTI

Rigetti Computing Launches The Novera QPU Partner Program

The most oversold stocks in the materials sector presents an opportunity to buy into undervalued companies.
The RSI is a momentum indicator, which compares a stock&#8217;s strength on days when prices go up to its strength on days when prices go down. When compared to a stock&#8217;s price action, it can give traders a better sense of how a stock may perform in the short term. An asset is typically considered oversold when the <a href="https://www.benzinga.com/topic/rsi">RSI is below 30</a>, according to <a href="https://pro.benzinga.com/">Benzinga Pro</a>.
Here's the latest list of major oversold players in this sector, having an RSI near or below 30.
<h3 class="wp-block-heading">United States Steel Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/X#NYSE">X</a>)</h3>
<ul>
<li>United States Steel is expected to release financial results for the first quarter 2024 on Thursday, May 2. The company's stock fell around 9% over the past month and has a <a href="https://www.benzinga.com/quote/X">52-week low of $20.40</a>.</li>
<li>RSI Value: 29.95</li>
<li>X Price Action: Shares of United States Steel gained 1.6% to close at $37.17 on Thursday.</li>
</ul>
<h3 class="wp-block-heading">Compass Minerals International, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMP#NYSE">CMP</a>)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</h3>
<ul>
<li>On March 25, Compass Minerals announced the U.S. Forest Service has informed the company that it will not be entering into a contract for the use of magnesium chloride-based aerial fire retardants for the 2024 fire season. The company's stock fell around 8% over the past month. It <a href="https://www.benzinga.com/quote/CMP">has a 52-week low</a> of $11.85.</li>
<li>RSI Value: 28.86</li>
<li>CMP Price Action: Shares of Compass Minerals fell 1.3% to close at $12.62 on Thursday.</li>
</ul>
<h2 class="wp-block-heading">Nucor Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NUE#NYSE">NUE</a>)</h2>
<ul>
<li>On April 22, Nucor reported worse-than-expected first-quarter financial results. "Nucor's performance continues to be strong even as steel market conditions have come off their post-pandemic record highs," said Leon Topalian, Nucor's CEO. "We also took several bold steps to advance our growth, sustainability and commercial strategies during the first quarter." The company's stock fell around 8% over the past five days and has a 52-week <a href="https://www.benzinga.com/quote/NUE">low of $129.79</a></li>
<li>RSI Value: 29.36</li>
<li>NUE Price Action: Shares of Nucor rose 1.8% to close at $175.88 on Thursday.</li>
</ul>
<h3 class="wp-block-heading">Cleveland-Cliffs Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CLF#NYSE">CLF</a>)</h3>
<ul>
<li>On April 22, Cleveland-Cliffs reported first-quarter revenue of $5.2 billion, which missed the consensus estimate of $5.346 billion. "Our first quarter results were highlighted by the resiliency of automotive production in the United States, which helped to offset a temporary buyers strike from service centers in January and February," said Lourenco Goncalves, chairman, president and CEO of Cleveland-Cliffs. The company's shares lost around 12% over the past five days. The company's 52-week low is $13.61.</li>
<li>RSI Value: 25.26</li>
<li>CLF Price Action: Shares of Cleveland-Cliffs fell 0.5% to close at $18.23 on Thursday.</li>
</ul>
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NuCana (NASDAQ:<a href="https://investorplace.com/stock-quotes/ncna-stock-quote/">NCNA</a>) just reported results for the fourth quarter of 2023.<ul><li>NuCana reported earnings per share of -17 cents. This was below the analyst estimate for EPS of -13 cents.</li><li>The company did not report any revenue for the quarter.</li></ul><div>InvestorPlace Earnings is a project that leverages data from <a href="https://www.tradesmith.com">TradeSmith</a> to automate coverage of quarterly earnings reports. InvestorPlace Earnings distills key takeaways including earnings per share and revenue, as well as how a company stacks up to analyst estimates. These articles are published without human intervention, allowing us to inform our readers of the latest figures as quickly as possible. To report any concerns or inaccuracies, please contact us at <a href="mailto:editor@investorplace.com">editor@investorplace.com</a>.</div><h3>More From InvestorPlace</h3>
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<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
Pre-market stock movers are a hot topic on Thursday as we check out all of the biggest stories moving shares this morning!



Moving stocks this morning are public debuts, earnings reports and more.



Let&rsquo;s get into that news down below!



<h2>Biggest Pre-Market Stock Movers: 10 Top Gainers</h2>



<ol><li>Avalo Therapeutics (NASDAQ:<a href="https://investorplace.com/stock-quotes/avtx-stock-quote/">AVTX</a>) stock is rocketing more than 268% after announcing a <a href="https://www.globenewswire.com/news-release/2024/03/27/2853595/0/en/Avalo-Acquires-Anti-IL-1%CE%B2-mAb-and-Announces-Private-Placement-Financing-of-up-to-185-Million.html">$185 million private placement</a>.</li>



<li>Binah Capital (NASDAQ:<a href="https://investorplace.com/stock-quotes/bcg-stock-quote/">BCG</a>) shares are soaring over 98% <a href="https://www.prnewswire.com/news-releases/binah-capital-group-inc-announces-listing-on-nasdaq-stock-market-llc-302098940.html">after going public yesterday</a>.</li>



<li>Kidpik (NASDAQ:<a href="https://investorplace.com/stock-quotes/pik-stock-quote/">PIK</a>) stock is surging more than 62% after <a href="https://www.nasdaq.com/press-release/kidpik-regains-compliance-with-the-nasdaq-minimum-bid-price-requirement-2024-03-25">regaining listing compliance</a>.</li>



<li>Cazoo (NYSE:<a href="https://investorplace.com/stock-quotes/czoo-stock-quote/">CZOO</a>) shares are gaining over 35% as it continues a recent rally.</li>



<li>Kintara Therapeutics (NASDAQ:<a href="https://investorplace.com/stock-quotes/ktra-stock-quote/">KTRA</a>) stock is increasing more than 32% after <a href="https://ng.investing.com/news/stock-market-news/kintara-broadens-rem001-study-to-include-key-drug-93CH-1276596">expanding a clinical trial</a>.</li>



<li>Andretti Acquisition (NYSE:<a href="https://investorplace.com/stock-quotes/wnnr-stock-quote/">WNNR</a>) shares are rising over 21% as it <a href="https://app.quotemedia.com/data/downloadFiling?webmasterId=90423&amp;ref=318185968&amp;type=PDF&amp;symbol=WNNR&amp;cdn=7a2f6b4131d0baa08c51e9a752745d39&amp;companyName=Andretti+Acquisition+Corp.+Class+A&amp;formType=8-K&amp;formDescription=Current+report+pursuant+to+Section+13+or+15%28d%29&amp;dateFiled=2024-03-26">closes in on a merger deal</a>.</li>



<li>Keyarch Acquisition (NASDAQ:<a href="https://investorplace.com/stock-quotes/kych-stock-quote/">KYCH</a>) stock is heading more than 20% higher as it <a href="https://app.quotemedia.com/data/downloadFiling?webmasterId=90423&amp;ref=318192433&amp;type=PDF&amp;symbol=KYCH&amp;cdn=d7ba84dd643c6f1ac06409af8b5eeb0c&amp;companyName=Keyarch+Acquisition+Corporation&amp;formType=425&amp;formDescription=Prospectuses+and+communications%2C+business+combinations&amp;dateFiled=2024-03-27">prepares to complete a merger</a>.</li>



<li>Listed Funds Trust Opportunistic Trader ETF (NYSEARCA:<a href="https://investorplace.com/stock-quotes/wzrd-stock-quote/">WZRD</a>) shares are climbing over 19% on Thursday morning.</li>



<li>MyMD Pharmaceuticals (NASDAQ:<a href="https://investorplace.com/stock-quotes/mymd-stock-quote/">MYMD</a>) stock is jumping more than 18% after <a href="https://app.quotemedia.com/data/downloadFiling?webmasterId=90423&amp;ref=318188255&amp;type=PDF&amp;symbol=MYMD&amp;cdn=d095121bed2225092c887231499ecf34&amp;companyName=MyMD+Pharmaceuticals+Inc.&amp;formType=8-K%2FA&amp;formDescription=%5BAmend%5DCurrent+report+pursuant+to+Section+13+or+15%28d%29&amp;dateFiled=2024-03-26">amending its allowed number of shares</a>.</li>



<li>Srivaru (NASDAQ:<a href="https://investorplace.com/stock-quotes/svmh-stock-quote/">SVMH</a>) shares are up over 16% as it <a href="https://finance.yahoo.com/news/srivaru-svmh-prana-2-0-123000372.html">continues a rally from yesterday</a>.</li>
</ol><h2>10 Top Losers</h2>



<ol><li>Urban-gro (NASDAQ:<a href="https://investorplace.com/stock-quotes/ugro-stock-quote/">UGRO</a>) stock is diving more than 18% with the release of its <a href="https://www.nasdaq.com/press-release/urban-gro-inc.-reports-2023-financial-results-and-provides-outlook-on-2024">latest earnings report</a>.</li>



<li>GCT Semiconductor (NYSE:<a href="https://investorplace.com/stock-quotes/gcts-stock-quote/">GCTS</a>) shares are tumbling over 18% <a href="https://finance.yahoo.com/news/gct-semiconductor-becomes-publicly-traded-223000931.html">after going public yesterday</a>.</li>



<li>Wetouch Technology (NASDAQ:<a href="https://investorplace.com/stock-quotes/weth-stock-quote/">WETH</a>) stock is taking a more than 18% beating without any clear news this morning.</li>



<li>Sobr Safe (NASDAQ:<a href="https://investorplace.com/stock-quotes/sobr-stock-quote/">SOBR</a>) shares are sliding over 18% following a <a href="https://www.nasdaq.com/press-release/register-now-for-todays-behavioral-health-webinar-the-future-of-alcohol-monitoring-is">new presentation yesterday</a>.</li>



<li>NuCana (NASDAQ:<a href="https://investorplace.com/stock-quotes/ncna-stock-quote/">NCNA</a>) stock is falling more than 17% as it <a href="https://www.marketwatch.com/story/nucana-american-depositary-shares-fall-on-news-of-planned-ratio-change-a99b9a3d">plans a ratio change</a>.</li>



<li>Gamida Cell (NASDAQ:<a href="https://investorplace.com/stock-quotes/gmda-stock-quote/">GMDA</a>) shares are decreasing over 16% as they <a href="https://investorplace.com/2024/03/why-is-gamida-cell-gmda-stock-down-82-today/">continue yesterday&rsquo;s negative movement</a>.</li>



<li>MillerKnoll (NASDAQ:<a href="https://investorplace.com/stock-quotes/mlkn-stock-quote/">MLKN</a>) stock is dropping more than 16% after <a href="https://investorplace.com/earning-results/2024/03/mlkn-stock-earnings-millerknoll-for-q3-of-2024/">missing revenue estimates</a>.</li>



<li>Abits (OTCMKTS:<a href="https://investorplace.com/stock-quotes/abit-stock-quote/">ABIT</a>) shares are slipping over 15% on Thursday.</li>



<li>PAVmed (NASDAQ:<a href="https://investorplace.com/stock-quotes/pavm-stock-quote/">PAVM</a>) stock is dipping more than 13% alongside its <a href="https://finance.yahoo.com/news/pavmed-full-2023-earnings-eps-112130397.html">most recent earnings release</a>.</li>



<li>Movella (NASDAQ:<a href="https://investorplace.com/stock-quotes/mvla-stock-quote/">MVLA</a>) shares close out our pre-market stock movers down over 12% <a href="https://finance.yahoo.com/news/movella-announces-nasdaq-planned-suspension-220000645.html">on suspension news</a>.</li>
</ol>On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the&nbsp;InvestorPlace.com&nbsp;<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/" target="_blank">Publishing Guidelines</a>.
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	The post <a href="https://investorplace.com/2024/03/todays-biggest-pre-market-stock-movers-10-top-gainers-and-losers-on-thursday-march-28th/">Today's Biggest Pre-Market Stock Movers: 10 Top Gainers and Losers on Thursday</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

Today's Biggest Pre-Market Stock Movers: 10 Top Gainers and Losers on Thursday

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ABIT

KYCH

MYMD

PAVM

SVMH

WETH

WNNR

WZRD

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