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January 9, 2025

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When to Pull the Trigger: Identifying the BEST Entry Point

In this exclusive StockCharts video, Joe shares how to identify the best entry point by using two timeframes, Moving Averages, MACD and ADX. He shows two different examples of when to pull the trigger. Joe highlights weakness in the Large Cap universe, and finally goes through the symbol requests that came through this week, including NVDA, ABNB, and more.

This video was originally published on January 8, 2025. Click this link to watch on Joe’s dedicated page.

Archived videos from Joe are available at this link. Send symbol requests to stocktalk@stockcharts.com; you can also submit a request in the comments section below the video on YouTube. Symbol Requests can be sent in throughout the week prior to the next show.

THIS is the BEST Market Sector Right Now!

In this exclusive StockCharts video, Julius takes a look at what he recently called “The Best Five Sectors” on a relative rotation graph side-by-side with their price charts. He then takes an in-depth at Consumer Discretionary, and shares some interesting stocks within, including AMZN, ULTA, and more.

This video was originally published on January 8, 2025. Click on the icon above to view on our dedicated page for Julius.

Past videos from Julius can be found here.

#StayAlert, -Julius

Top 5 Small-cap Biotech Stocks (Updated January 2025)

The NASDAQ Biotechnology Index (INDEXNASDAQ:NBI) is trading at three-year highs in response to breakthrough innovations and increased deals for biotech stocks on the NASDAQ.

After dropping to a low of 3,637.05 in October 2023, the index climbed to a high of 4,954.813 on September 19, 2024. While the NBI is trading down at 4,399.36 as of January 7, 2025, further growth could be in store in the future. However, the current economic environment means the biotech sector may have a complex road ahead.

According to a recent report from Precedence Research, the global biotech market is expected to grow at a compound annual growth rate of 11.5 percent from now to 2034, reaching a valuation of US$4.61 trillion.

Driving that growth will be favorable government policies, investment in the sector, increased demand for synthetic biology and a rise in chronic disorders such as cancer, heart disease and hypertension.

The top NASDAQ biotech stocks have seen sizeable share price increases over the past year. For those interested in investing in biotech companies, the best-performing small-cap biotech stocks are outlined below.

Data was gathered on January 7, 2025, using TradingView’s stock screener, and all top small-cap biotech stocks in the list had market caps between US$50 million and US$500 million at that time.

1. Bright Minds Biosciences (NASDAQ:DRUG)

Company Profile

Year-over-year gain: 2,232.41 percent
Market cap: US$281.1 million
Share price: US$40.22

Bright Minds Biosciences is developing novel treatments for pain and neuropsychiatric disorders such as epilepsy, post-traumatic stress disorder and difficult-to-treat depression.

The company’s platform includes serotonin agonists designed to provide powerful therapeutic benefits while minimizing the side effects.

Bright Minds is currently in Phase 2 clinical trials for its BMB-101, a highly selective 5-HT2C receptor agonist, in adult patients with classic absence epilepsy and developmental epileptic encephalopathy.

Bright Minds Biosciences’ stock rocketed upwards in the fourth quarter, shooting up from US$2.49 to US$38.49 in one day on October 15. The company issued a press release stating it was ‘unaware of any material changes in the company’s operations’ that would have contributed to such a rally. The outperformance instead appears to be related to the October 14 announcement of Danish pharma company Lundbeck acquiring Longboard Pharma, another biotech company developing a 5-HT2C receptor agonist, for US$60 per share.

A few days later, Bright Minds announced a non-brokered private placement of US$35 million, which sent shares up to US$47.21 on October 18.

That same month the company shared its collaboration with Firefly Neuroscience (NASDAQ:AIFF) to use the latter’s advanced artificial intelligence, FDA-cleared BNA technology platform to provide a full analysis of the electroencephalogram (EEG) data from Bright Minds’ BMB-101 Phase 2 clinical trial. This follows the pair’s previous successful collaboration to analyze data from Bright Mind’s first-in-human Phase 1 study of BMB-101.

Bright Minds’ share price reached their highest yearly peak of US$55.77 on November 6.

2. Candel Therapeutics (NASDAQ:CADL)

Company Profile

Year-over-year gain: 518.52 percent
Market cap: US$371.37 million
Share price: US$8.35

Candel Therapeutics is a biotech company focused on developing oncology treatments. The company’s pipeline includes two clinical stage multimodal biological immunotherapy platforms.

Candel’s lead product candidate CAN-2409 is in a Phase 2 clinical trial in non-small cell lung cancer and borderline resectable pancreatic cancer, as well as Phase 2 and 3 trials for localized, non-metastatic prostate cancer. Positive interim data for the trial on pancreatic cancer, released on April 4, 2024, sent the company’s share price spiking upwards. It ultimately climbed to a year-over-year high of US$14.30 on May 16.

More recently, in December 2024, the company released positive topline data for CAN-2409 viral immunotherapy, achieving the primary endpoint in its Phase 3 prostate cancer trial.

Its second lead product candidate is CAN-3110, which is in an ongoing Phase 1 clinical trial in recurrent high-grade glioma (HGG).

The company had a number wins with the US Food and Drug Administration (FDA) in 2024. In February, Candel’s CAN-3110 received regulatory approval for a fast-track designation for the treatment of recurrent HGG. The agency also granted Candel orphan drug designation for CAN-2409 for the treatment of pancreatic cancer in April and CAN-3110 for HGG in May.

3. Rezolute Bio (NASDAQ:RZLT)

Company Profile

Year-over-year gain: 467.04 percent
Market cap: US$314.63 million
Share price: US$5.43

Late-stage biopharma company Rezolute is developing novel therapies targeting rare and chronic metabolic diseases. At the top of the company’s drug pipeline is RZ358, called ersodetug, which is being studied for the treatment of congenital hyperinsulinism and tumor hyperinsulinism. The company also has RZ402, which is targeted for patients with diabetic macular edema.

Ersodetug is currently in global Phase 3 clinical studies for congenital hyperinsulinism, with topline data expected in mid-2025. It opened to US participation in September after the FDA removed partial clinical holds.

In March, Rezolute shared results from a preclinical study that validated ersodetug’s potential to treat patients with non-islet cell tumors that have uncontrolled hypoglycemia. Rezolute announced positive topline results for its Phase 2 study of RZ402 in May.

The biotech stock had a great run up in the second quarter this year, climbing to an H1 2024 high of US$6.799 on June 5. Since then, Rezolute shares have managed to retain much of that value with a series of positive news releases.

The company closed on a public offering with net proceeds of about US$56.4 million later in June, which will help to fund post-Phase 3 planning for its ersodetug program in congenital hyperinsulinism as well as a potential late-stage, registrational, clinical study of ersodetug in patients with tumor hyperinsulinism associated with islet cell and non-islet cell tumors.

In August, the FDA granted clearance for Rezolute’s investigational new drug application for a Phase 3 study of ersodetug in tumor hyperinsulinism. Patient enrollment is slated to begin in the first half of 2025. In December, the FDA granted ersodetug orphan drug status for the treatment of hypoglycemia due to tumor HI.

Rezolute kicked off the new year with another FDA approval, this time garnering the breakthrough therapy designation for ersodetug for the treatment of hypoglycemia due to congenital hyperinsulinism.

4. Entera Bio (NASDAQ:ENTX)

Company Profile

Year-over-year gain: 301.52 percent
Market cap: US$97.61 million
Share price: US$2.65

Entera Bio’s proprietary N-Tab technology oral delivery platform allows for the development of therapies based on peptides and therapeutic proteins. The company is targeting a variety of indications, including osteoporosis, hyperparathyroidism and short bowel syndrome.

The company released a series of significant updates in March and April. This included the announcement of positive pharmacokinetic data for GLP-2 peptide tablet treatment for patients with short bowel syndrome as part of a joint study combining OPKO Health’s (NASDAQ:OPK) proprietary long acting GLP-2 agonist with Entera’s N-Tab technology.

In April, Entera announced the publication of Phase 2 clinical trial data from its EB613 program for osteoporosis. Unlike available osteoanabolic treatments, which are injections, EB613 is a once daily treatment administered through oral PTH(1-34) peptide tablets. According to the release, ‘Significant gains in bone mineral density of the spine and hip were observed at the end of the 6-month study and there were no significant safety concerns.’

Entera Bio’s share price reached its yearly peak of US$2.98 on April 12, 2024.

5. Benitec Biopharma (NASDAQ:BNTC)

Company Profile

Year-to-date gain: 251.42 percent
Market cap: US$258.63 million
Share price: US$11.14

California-based Benitec Biopharma is advancing novel genetic medicines via its proprietary “Silence and Replace” DNA-directed RNA interference platform. The company is currently focused on developing therapeutics for chronic and life-threatening conditions including oculopharyngeal muscular dystrophy (OPMD). Its drug candidate BB-301 was granted orphan drug designation by the FDA and the European Medicines Agency.

In April, Benitec reported positive interim clinical trial data for its first OPMD subject treated with BB-301 in its Phase 1b/2a study. Following the report, Benitec’s share price began trending upward, and reached US$10.47 on May 10.

Benitec is well-funded to advance its BB-301 clinical development program through the end of 2025. The company reported additional positive interim safety and efficacy data in mid-November. The company’s share price hit its highest yearly value on December 11 at US$13.08.

Securities Disclosure: I, Melissa Pistilli, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com

Cybersecurity Market Forecast: Top Trends for Cybersecurity in 2025

In today’s digital world, cybersecurity is not just important — it’s essential.

The alarming rise in cyberattacks is fueling the demand for cybersecurity solutions; in 2024, we witnessed data breaches targeting large corporations such as AT&T (NYSE:T), Fidelity, Dell (NYSE:DELL) and Snowflake (NYSE:SNOW), and on January 1, 2025, the US accused China of hacking into the Office of Foreign Assets Control and the Office of the Treasury Secretary.

Not only is the frequency of cyberattacks growing, but they are costing companies more. In 2023, an IBM (NSE:IBM) research report found that the average data breach cost in the previous year was US$4.45 million. A 2024 report reveals that the price of a data breach had risen to US$4.88 million between March 2023 and February 2024, attributed primarily to business disruption and post-breach recovery efforts.

As a result, 23.5 percent of organizations surveyed for IBM’s report said they would increase security investments following a breach, and 63 percent said they would raise the price of goods and services as a result of increased cybersecurity spending.

With cyber threats becoming increasingly sophisticated and the cost of breaches skyrocketing, what investment opportunities are available for those looking to capitalize on this critical and growing market?

Market research paints a compelling picture. MarketsAndMarkets projects the global cybersecurity market size will reach US$298.5 billion by 2028, a compound annual growth rate (CAGR) of 9.4 percent from 2022. Grand View Research sets the bar even higher, projecting a market value of US$500.7 billion by 2030.

Both firms highlight emerging opportunities in areas of artificial intelligence (AI) and machine learning (ML) for threat detection and response.

North America, currently dominating the cybersecurity market, is poised for continued growth. In the US, Statista projects revenue growth at a CAGR of 7.12 percent between 2025 and 2029. Meanwhile, Mordor Intelligence estimates Canada’s cybersecurity sector will reach US$24.23 in value.

AI: Cybersecurity’s double-edged sword

AI advancements are changing the threat landscape, requiring AI-powered cybersecurity solutions. While AI offers powerful tools to combat cybercrime, it also empowers malicious actors with new and sophisticated methods of attack.

The IBM report highlighted a concerning trend: customer personally identifiable information (PII) remains the most common target for cybercriminals. AI amplifies the potential damage caused by PII breaches, as attackers now have more tools to leverage this information. The report also determined that, despite the benefits of AI and automation in reducing breach costs, only 12 percent of organizations say they have fully recovered from a data breach. Experts foresee AI-powered attacks — along with ransomware, supply chain attacks, deepfakes, and cloud jacking — as major cybersecurity threats in the coming years.

The ‘weaponization of AI’, such as the use of deepfakes and AI-replicated voices, also poses a growing threat, as Mark Fernandes, Global Chief Information Security Officer at CAE, emphasized at the Toronto Global Forum. This trend was substantiated in a report published by The Financial Times on January 1, 2025, that examined AI-generated phishing attempts targeting corporate executives.

Additionally, IBM found that shadow data, the unmanaged data within organizations, was involved in 35 percent of breaches and led to higher costs and longer breach lifecycles. To combat this, a multi-layered approach combining various technologies and strong data governance practices is crucial for effectively managing shadow data risks.

Modern cybersecurity programs leverage a combination of AI-powered solutions. AI-driven Attack Surface Management (ASM) provides continuous visibility into potential vulnerabilities, while AI-powered Security Information and Event Management (SIEM) automates threat detection. AI also enhances posture management by enabling automated red-teaming exercises to proactively identify weaknesses.

Palo Alto Networks (NASDAQ:PANW), for example, offers a platform approach with Prisma Cloud, integrating AI across various security domains, including network security, cloud security and security operations. The company projects its security offerings will lead to continued growth in the second quarter of 2025 after expanding its offerings to the industrial sector and acquiring a cloud-based version of IBM’s AI-enabled QRadar SIEM

CrowdStrike (NASDAQ:CRWD) progressively incorporated AI into its SIEM offering throughout 2024. The company unveiled new AI-powered functions for its Falcon Next-Gen SIEM platform in May 2024, then upgraded the model in July by integrating generative AI with its Falcon Complete Next-Gen MDR service, which co-monitors the IT environment with data collected by its SIEM system. Despite experiencing a major outage in July caused by a faulty update to the Falcon sensor software, CrowdStrike’s Falcon platform and AI integration earned the company the distinction of being named a leader and outperformer in the 2024 GigaOm Radar Report for Ransomware Prevention, with multiple research firms also recognizing CrowdStrike as an innovator in this sector.

Furthermore, AI can now automate red-teaming exercises, simulating attacks to identify vulnerabilities before real attackers do. In May 2024, IBM announced new X-Force Red testing services that leverage generative AI techniques to identify and mitigate vulnerabilities.

AI-driven automation that continuously analyzes security posture and recommends improvements helps ensure optimized defenses. However, organizations must extend their security posture management to encompass the AI models themselves. In AI-powered applications, a rising security risk is prompt injection attacks, where attackers insert malicious instructions to control AI models. Recognizing this need, Cisco (NASDAQ:CSCO) acquired Robust Intelligence, a company specializing in protecting AI systems from vulnerabilities and attacks, in September 2024. According to a press release announcing the deal, the acquisition will “serve as a safety layer for Cisco Security Cloud, providing AI applications and models with default protection.”

While AI provides powerful tools for threat detection and response, its effectiveness can be further amplified by integrating it with other technologies.

The power of blockchain in cybersecurity

Blockchain offers unique capabilities for securing data, building trust, and enhancing resilience through its secure and immutable record of transactions. Each block in the chain contains transaction data and a unique hash, relying heavily on cryptography to ensure data integrity and prevent tampering. This is particularly crucial in the realm of cryptocurrencies, where encryption prevents double-spending and secures the transfer of funds.

This gives blockchains major applications in securing digital identities, transactions and supply chains. Recognizing its potential, tech companies are investing in blockchain cybersecurity.

Microsoft (NASDAQ:MSFT), Amazon (NASDAQ:AMZN), Oracle (NYSE:ORCL), and IBM are all making significant contributions to the field of blockchain cybersecurity. Microsoft’s Azure Confidential Ledger provides a highly secure environment for storing sensitive data, while Amazon, IBM and Oracle all offer enterprise-grade blockchain platforms and services to facilitate the development of secure applications for various use cases, including supply chain management and data sharing.

Companies like privately-held Guardtime are developing solutions to address existing challenges to implementing blockchain with cybersecurity, such as scalability issues faced by traditional blockchains like Bitcoin. Guardtime’s Keyless Signature Infrastructure (KSI) is based on a special kind of Merkel Tree — a data structure that allows for efficient verification of data integrity without needing to download the entire blockchain — called a hash calendar, which only records the hashes of data at specific time intervals.

Not only does this drastically reduce storage requirements, KSI doesn’t rely on a Proof-of-Work consensus mechanism, eliminating the need for energy-intensive computations without compromising the speed of transaction processing.

The quantum leap in cybersecurity

Quantum computing, an emerging technology, utilizes the principles of quantum mechanics to perform calculations beyond the capabilities of traditional computers.

Quantum computing is based on qubits, which can exist in a state of superposition (being in multiple states at once until measured), unlike classical bits, which can be expressed as either 0 or 1. This allows quantum computers to process more data in less time than it would take traditional computers, giving them the potential to revolutionize cryptography.

Although NVIDIA (NASDAQ:NVDA) CEO Jensen Huang suggested that “very useful quantum computers” are likely still 20 years away, quantum computing poses both a risk and an opportunity for cybersecurity. Dr. Michele Mosca from the University of Waterloo’s Institute for Quantum Computing argues that while quantum computing may initially appear to threaten cybersecurity by potentially breaking current encryption, it also presents an opportunity to establish stronger and more resilient security foundations for the digital economy.

Google (NASDAQ:GOOGL), a leader in quantum computing research since 2014 and the first to claim quantum supremacy in 2019, achieved a breakthrough with its Willow quantum processor at the end of 2024 when it demonstrated significantly improved error correction and scalability in quantum computing.

This brought the possibility of potentially breaking current encryption methods closer to reality and underscored the urgency of developing and implementing quantum-resistant solutions.

While established players such as IBM continue to advance quantum computing with platforms like Qiskit, new entrants like Quantinuum, backed by investors including JP Morgan (NYSE:JPM), are emerging to build quantum computers and develop applications for them.

Other companies like PQShield, ISARA Corporation and SandboxAQ are developing post-quantum cryptography (PQC) solutions using mathematical algorithms that are believed to be resistant to attacks from both classical and quantum computers. Sandbox AQ, which began as a team within Google, held its latest US$300 million funding round in December, bringing its valuation to US$5.3 billion.

Investor takeaway

The cybersecurity market is a compelling area to watch in 2025. Investors should focus on companies that are adapting to emerging trends, driving innovation and fostering collaboration to protect the future of the digital landscape.

Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com

Stock Futures Lower after S&P 500 futures ticked down 0.18%

Stock futures are trading slightly lower Monday morning as investors gear up for the final month of 2024. S&P 500 futures slipped 0.18%, alongside declines in Dow Jones Industrial Average futures and Nasdaq 100 futures, which dropped 0.13% and 0.17%, respectively. The market’s focus is shifting to upcoming economic data, particularly reports on manufacturing and construction spending, ahead of this week’s key labor data releases.

November was a standout month for equities, with the S&P 500 futures rallying to reflect the index’s best monthly performance of the year. Both the S&P 500 and Dow Jones Industrial Average achieved all-time highs during Friday’s shortened trading session, with the Dow briefly surpassing 45,000. Small-cap stocks also saw robust gains, with the Russell 2000 index surging over 10% in November, buoyed by optimism around potential tax cuts.

As trading kicks off in December, investors are keeping a close eye on geopolitical developments in Europe, where France’s CAC 40 index dropped 0.77% amid political concerns, while Germany’s DAX and the U.K.’s FTSE 100 showed smaller declines.

S&P 500 futures will likely continue to act as a key barometer for market sentiment, particularly as traders assess the impact of upcoming economic data and global market developments.

S&P 500 Index Chart Analysis

This 15-minute chart of the S&P 500 Index shows a recent trend where the index attempted to break above the resistance level near 6,044.17 but retraced slightly to close at 6,032.39, reflecting a minor decline of 0.03% in the session. The candlestick pattern indicates some indecisiveness after a steady upward momentum seen earlier in the day.

On the RSI (Relative Strength Index) indicator, the value sits at 62.07, having declined from the overbought zone above 70 earlier. This suggests that the bullish momentum might be cooling off, and traders could anticipate a short-term consolidation or slight pullback. However, with RSI above 50, the overall trend remains positive, favoring buyers.

The index’s recent low of 5,944.36 marks a key support level, while the high at 6,044.17 could act as resistance. If the price sustains above the 6,020 level and RSI stabilizes without breaking below 50, the index could attempt another rally. Conversely, a drop below 6,020 could indicate a bearish shift.

In conclusion, the index displays potential for continued gains, but traders should watch RSI levels and price action near the support and resistance zones for confirmation.

The post Stock Futures Lower after S&P 500 futures ticked down 0.18% appeared first on FinanceBrokerage.

S&P 500 climbed 0.3%, and Nasdaq-100 futures jumped 0.7%

Stock futures climbed on Wednesday, driven by strong performances from Salesforce and Marvell Technology, following upbeat quarterly earnings. Futures tied to the Dow Jones Industrial Average rose by 215 points (0.5%), while S&P 500 futures gained 0.3%, and Nasdaq-100 futures advanced by 0.7%.

Salesforce surged 12% after reporting fiscal third-quarter revenue that exceeded expectations, showcasing robust demand in the enterprise software sector. Meanwhile, chipmaker Marvell jumped 14% after surpassing earnings estimates and providing optimistic fourth-quarter guidance, indicating resilience in the semiconductor industry.

This movement follows a mixed session on Wall Street, where the S&P 500 and Nasdaq closed with small gains, while the Dow dipped slightly. The broader market has experienced a modest start to December, contrasting with November’s robust rally, but analysts anticipate a resurgence in momentum. LPL Financial’s George Smith pointed out that December historically sees strong market performance, particularly in the latter half of the month.

However, economic data introduced some caution. ADP’s report revealed that private payrolls grew by just 146,000 in November, missing estimates of 163,000. This signals potential softness in the labor market, with investors now awaiting Friday’s November jobs report for further clarity.

S&P 500 Index Chart Analysis

Based on the provided stock chart, which appears to be a 15-minute candlestick chart for the S&P 500 Index, here’s a brief analysis:

The chart shows a clear upward trend, with higher highs and higher lows indicating bullish momentum over the analyzed period. The index has steadily climbed from a low of approximately 5,855 to a recent high of 6,053.58, suggesting strong buying interest.

Key resistance is observed near 6,050-6,053 levels, as the price has struggled to break above this zone in the most recent sessions. If the index breaches this level with strong volume, it could lead to further upward movement. Conversely, failure to break out may lead to a pullback, with potential support around the 6,000 psychological level and 5,980, where consolidation occurred previously.

The candlestick patterns show relatively small wicks, indicating limited volatility, which could imply steady market confidence. However, the bullish rally could be overextended, warranting caution for traders, especially if any negative catalysts emerge.

In summary, the short-term trend is bullish, but traders should monitor resistance levels and volume for signs of a breakout or reversal. It’s also essential to watch broader market factors, as indices are often influenced by macroeconomic data and sentiment.

The post S&P 500 climbed 0.3%, and Nasdaq-100 futures jumped 0.7% appeared first on FinanceBrokerage.

U.S. Steel CEO appeals to Trump after Biden blocks deal with Japanese firm

The chief executive of U.S. Steel appealed directly to President-elect Donald Trump to take a second look at a Japanese company’s $15 billion deal to buy the American steelmaker.

President Joe Biden blocked the deal between U.S. Steel and Nippon Steel on Friday, citing national security concerns after a key business-review panel failed to reach a consensus on whether the acquisition posed any risks. Both companies sued the administration over the decision.

Trump has also opposed Nippon’s purchase of the once-iconic Pittsburgh-based firm and again questioned the proposed sale Monday. But U.S. Steel CEO David Burritt told CNBC on Tuesday that he believes he can appeal to Trump’s business sensibilities.

“We have a new president that will take a fresh look at this. We understand what his current views are, but he’s a smart guy,” Burritt said.

He added that he hopes Trump will “see how this helps make U.S. Steel great again. And frankly, Nippon is going to pay for it,” he said, echoing Trump’s frequent assertions during the 2016 campaign that Mexico would pay for a wall along the U.S. southern border, which never came to pass.

A spokesperson for Trump referred to his earlier comments on the matter. A White House spokesperson reiterated a statement provided to NBC News on Monday night: “President Biden will never hesitate to protect the security of this nation, its infrastructure, and the resilience of its supply chains.”

Since Trump won the election, a deluge of business leaders have visited his Mar-a-Lago resort in Florida as they seek to win favor with the incoming administration, among them Apple CEO Tim Cook, Amazon founder Jeff Bezos, Alphabet CEO Sundar Pichai, Netflix co-CEO Ted Sarandos and Meta CEO Mark Zuckerberg. Trump’s inaugural committee has also received millions in donations from Apple, Amazon, OpenAI, Uber, Meta and some of their executives personally.

Twenty mayors and community leaders in Pennsylvania and Indiana called on Biden to approve the deal in a letter late last month. On the opposite side, the United Steelworkers International union repeatedly pressed Biden to block the deal. It said last week said it had ‘no doubt that it’s the right move for our members and our national security,’ and it praised Biden’s decision Friday.

Burritt said any potential national security concerns about the agreement could be “easily mitigated.” He said Biden had “tainted” the process by making it clear since the deal was announced that he would side with unions and didn’t allow the review to “play out as it is supposed to.”

Burritt, the U.S. Steel chief, also dismissed Biden’s concerns that the company needed to remain American-owned and -operated for national security and supply chain reasons. “In fact, it strengthens national security, it strengthens economic security, it strengthens job security. In fact, it grows the business,” he said.

Burritt declined to speculate on what would happen to U.S. Steel if the company’s lawsuits or the incoming administration don’t change the outcome. “Nobody in the integrated mill space is better than Nippon, and they’re going to do great things for the workers here in Pennsylvania, in Indiana and all the places we do business.”

Nippon Steel has said there is “no reason to need to give up” on its deal. “This is not just the most important matter for our company’s business strategy. I am firmly convinced this is something extremely beneficial for both Japan and the United States,” its chairman and CEO told reporters Tuesday.

Both companies have emphasized in their lawsuits that “never before has a President prohibited an acquisition by a company based in Japan, one of our closest allies.”

This post appeared first on NBC NEWS

Nvidia’s Jensen Huang is ‘dead wrong’ about quantum computers, D-Wave CEO says

D-Wave Quantum CEO Alan Baratz said Nvidia’s Jensen Huang is “dead wrong” about quantum computing after comments from the head of the chip giant spooked Wall Street on Wednesday.

Huang was asked on Tuesday about Nvidia’s strategy for quantum computing. He said Nvidia could make conventional chips that are needed alongside quantum computing chips, but that those computers would need 1 million times the number of quantum processing units, called qubits, than they currently have.

Getting “very useful quantum computers” to market could take 15 to 30 years, Huang told analysts.

Huang’s remarks sent stocks in the nascent industry slumping, with D-Wave plunging 36% on Wednesday.

“The reason he’s wrong is that we at D-Wave are commercial today,” Baratz told CNBC’s Deidre Bosa on “The Exchange.” Baratz said companies including Mastercard and Japan’s NTT Docomo “are using our quantum computers today in production to benefit their business operations.”

“Not 30 years from now, not 20 years from now, not 15 years from now,” Baratz said. “But right now today.”

D-Wave’s revenue is still minimal. Sales in the latest quarter fell 27% to $1.9 million from $2.6 million a year earlier.

Quantum computing promises to solve problems that are difficult for current processors, such as decoding encryption, generating random numbers and large-scale simulations. Technologists have been working on it for decades, and companies including Nvidia, Microsoft and IBM are pursuing it today, alongside researchers at startups and universities.

D-Wave was among a number of companies that enjoyed a revival of interest from investors in December, when Google announced a breakthrough in its own research. Google said that it had completed a 100 qubit chip, the second of six steps in its strategy to build a quantum system with 1 million qubits.

D-Wave shares soared 178% in December after popping 185% the month prior. Quantum company Rigetti Computing, which plummeted 45% on Wednesday, quintupled in value last month. IonQ dropped 39% on Wednesday. The stock rose 14% in December following a 143% rally in November.

Baratz acknowledged that one approach to quantum computing, called gate-based, may be decades away. But he said D-Wave uses an annealing approach, which can be deployed now.

While Huang’s “comments may not be totally off-base for gate model quantum computers, well, they are 100% off base for annealing quantum computers,” Baratz said.

Nvidia declined to comment.

Even after Wednesday’s slide, D-Wave shares are up about 600% in the last year, giving the company a market cap of $1.6 billion.

Quantum computing has also been boosted by investor interest in artificial intelligence, the technology that’s led to surging demand for Nvidia’s graphics processing units, which use conventional transistors instead of Qubits. Nvidia’s market cap has increased by 168% in the past year to $3.4 trillion.

Baratz said D-Wave systems can solve problems beyond the capabilities of the fastest Nvidia-equipped systems.

“l’ll be happy to meet with Jensen any time, any place, to help fill in these gaps for him,” Baratz said.

This post appeared first on NBC NEWS