Quantum Stocks Surge, Birkenstock Buys Back Shares, Intuit Cuts Staff

Quantum computing stocks surged Thursday after the Trump administration announced it will award grants to nine firms in exchange for equity stakes, a deliberate echo of the government’s Intel playbook from last August.

Iran peace reports pushed oil to around $103 per barrel after it traded near $108 earlier in the day. Today’s edition breaks down every move worth knowing before tomorrow opens.

Every missile and armor-piercing round carries a hidden cost: tungsten.

Prices have surged to a 90-year high as defense demand rises and China tightens control over supply.

Now one small U.S. explorer with tungsten and copper exposure in Idaho could be entering the spotlight ahead of its next drilling phase.

Read the full report here.

A major insider bought nearly $73 million worth of stock in a coffee chain down about 77% over the past year, while a director at a home products company bought another $13.7 million near its own 52-week low.

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Stocks pushed higher in the afternoon after news reports suggested Iran and the U.S. are making progress toward a diplomatic resolution, sending Brent crude down to around $103 a barrel from $108 earlier in the session.

The Trump administration announced more than $2 billion in quantum computing grants to nine firms, including $1 billion for IBM, in deals that also give the government equity stakes, deliberately echoing its Intel playbook from last summer.

SpaceX officially filed its IPO overnight, joining a crowded window that now includes OpenAI, Anthropic, and reportedly Oura.

Walmart reported its biggest quarterly sales gain in years but disappointed on full-year guidance, citing fuel and energy cost headwinds from the Iran conflict, while Ralph Lauren surged after beating earnings with revenue up 17% across all regions.

The Kroger Co (NYSE: KR) is preparing to slash prices across thousands of products in a direct push to win back customers who have been drifting toward Walmart, Costco, and Aldi. The company plans to fund the cuts by importing merchandise directly, simplifying operations, and using technology to reduce internal costs before passing the savings on to shoppers.

Savings Have to Come From Inside

Kroger is not borrowing money to cut prices. It is squeezing costs out of its own operations first. Direct importing, leaner processes, and better use of technology all generate savings that flow directly into lower shelf prices.

That approach is sustainable but slow. The question is whether Kroger moves fast enough to stop the bleeding before your shoppers form new habits elsewhere.

Groceries Are a War of Inches

Nobody switches grocery stores over one item. They switch when the whole basket feels cheaper somewhere else. Kroger knows this and is targeting broad reductions designed to change how the total trip feels, not just individual price tags.

You compete in the lowest-margin corner of retail, and the only way to win is by being relentlessly cheaper while running a tighter operation underneath. Kroger just publicly committed to that fight, and how quickly prices drop will determine whether the strategy works or arrives too late.

Intuit (NASDAQ: INTU) is facing a serious company challenge as TurboTax, its tax filing software used by millions of Americans, loses momentum. The company lowered its outlook for the brand and announced plans to cut 17% of its workforce.

When you depend on one of the most trusted tax products in America, even a small slowdown matters. It raises questions about how Intuit protects its core business while consumer behavior changes.

AI Is the Bigger Pressure

Intuit says AI is helping its platform, not hurting it. The harder part is proving that customers still need paid software when cheaper AI tools keep getting smarter.

That is where your focus should go. Intuit is not just managing a weak tax season; it is defending the value of its entire financial software model.

A Leaner Company, Tougher Road

Cutting 17% of jobs signals a company trying to move faster and lower costs. That may help operations, but it also shows how much pressure Intuit is feeling.

The bigger company story is not a bad quarter. Intuit is trying to rebuild confidence in TurboTax, push AI as an advantage, and prove you still need trusted financial tools when the software world is changing fast.

For years, America’s top banks have quietly generated outsized profits — while everyday savers earn next to nothing.

Now, an income strategist points to a little-known investment with significantly higher long-term return potential — and says it may now be within reach for regular investors.

Click here to learn how it works and decide if it fits your strategy.

Devon Energy (NYSE: DVN) just paid $2.6 billion for 16,300 acres of undeveloped land in the heart of New Mexico's Delaware Basin. This deal landed just weeks after Devon closed its massive $58 billion merger with Coterra Energy.

Most companies take a breath after a deal that size. Devon went shopping again immediately.

The Delaware Basin Is the Crown Jewel

The Delaware Basin is part of the larger Permian, the most productive oil region in the United States. Companies fight aggressively for acreage here because the wells are highly productive and the infrastructure already exists.

You buy land next door to what you already own, and the economics improve automatically. Shared infrastructure, longer wells, and lower per-unit costs all come from that kind of geographic concentration.

The Price Tag Raised Eyebrows

At roughly $6.5 million per drilling location, Devon paid a premium that surprised even experienced Permian watchers. The company used cash on hand to fund the deal.

Devon clearly believes the long-term value of prime Delaware Basin acreage justifies paying up today. Whether your confidence matches Devon's conviction depends on how long you think American shale production stays central to global energy supply.

D-Wave Quantum [QBTS] $25.74 (+33.54%)

D-Wave received a $100 million letter of intent from the Commerce Department with a government equity stake, joining Infleqtion and Rigetti as the three smaller recipients in the $2 billion quantum grant program.

At a $9.35 billion Strong Buy-rated market cap, D-Wave is the largest of the trio by valuation and is running hardest on the government validation story.

Infleqtion [INFQ] $14.70 (+31.48%)

Infleqtion received a $100 million letter of intent from the Commerce Department as part of the government’s $2 billion quantum grant program, which also includes an equity stake in the company.

On top of that, it reported record quarterly revenue and raised its full-year guidance today. A government check plus an earnings beat in the same session is a hard combination to fight.

Rigetti Computing [RGTI] $22.04 (+30.57%)

Rigetti received a $100 million Commerce Department grant with a government equity stake and got a second boost when CEO Subodh Kulkarni spoke at the Canaccord Genuity Virtual Quantum Symposium today. At a $7.14 billion Buy-rated market cap, Rigetti is the quantum hardware pure-play that attracts the most institutional attention when the government validates the sector.

Intuit [INTU] $307.07 (-20.02%)

Intuit beat Q3 estimates, EPS $12.80 vs $12.50 consensus, revenue $8.56 billion, and raised full-year guidance to $21.34-21.37 billion. The stock fell because it also announced cutting 17% of its workforce, roughly 3,000 people, with $300-340 million in restructuring charges.

Framing job cuts as an AI efficiency play on the same night you beat earnings is a narrative the market hasn’t decided how to read yet.

Orthofix Medical [OFIX] $10.41 (-14.32%)

Orthofix cut its full-year revenue guidance today, sending the stock down nearly 21% and erasing most of its 2026 recovery. The orthopedic spine and extremities company cited slower-than-expected product adoption and softer hospital spending as the reasons for the revision.

At $388 million Buy-rated, the Street hasn’t given up on the story… but a guidance cut without a specific timeline for recovery is a tough sell.

SELLAS Life Sciences [SLS] $7.56 (-15.72%)

SELLAS surged yesterday on an earnings beat and a cash jump to $107 million, and today is giving some of that back as traders take profits. No new negative catalyst.

The $1.37 billion Strong Buy-rated Phase 3 oncology pipeline is intact. Yesterday’s buyers just moved faster than today’s holders wanted to hold.

There’s a strategy behind the Iran war.

I know because I heard it directly in a closed-door meeting with a source whose connections run deep into global power networks.

He walked me through the real purpose and the massive deal tied to it.

Click here to see the strategy behind the Iran war.

That's it for today! Please, write us back, and let us know what you think of the Closing Bell Roundup. We're always eager to hear feedback!

Thanks for reading. I'll see you at the next open! 

Best Regards,
— Adam G.
Elite Trade Club

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