U.S. markets closed

  • S&P 500

    3,722.48
    +21.31 (+0.58%)
     

  • Dow 30

    30,303.37
    +148.83 (+0.49%)
     

  • Nasdaq

    12,764.75
    +106.56 (+0.84%)
     

  • Russell 2000

    1,978.05
    +25.32 (+1.30%)
     

  • Crude Oil

    48.39
    +0.03 (+0.06%)
     

  • Gold

    1,889.40
    -1.00 (-0.05%)
     

  • Silver

    26.11
    -0.07 (-0.25%)
     

  • EUR/USD

    1.2262
    -0.0014 (-0.11%)
     

  • 10-Yr Bond

    0.9300
    +0.0100 (+1.09%)
     

  • GBP/USD

    1.3567
    -0.0012 (-0.09%)
     

  • USD/JPY

    103.1830
    +0.0850 (+0.08%)
     

  • BTC-USD

    22,667.56
    -62.83 (-0.28%)
     

  • CMC Crypto 200

    439.40
    +18.81 (+4.47%)
     

  • FTSE 100

    6,551.06
    -19.85 (-0.30%)
     

  • Nikkei 225

    26,787.78
    -18.89 (-0.07%)
     

A successful experiment gets us one step closer to a quantum internet

Igor Bonifacic
·Contributing Writer
·2 min read

The quantum internet is one step closer to becoming reality. This week, a joint team of researchers made up of scientists from Caltech, the Department of Energy’s Fermilab, AT&T, Harvard University, NASA’s Jet Propulsion Lab and the University of Calgary announced that they successfully teleported qubits of photons across approximately 27 miles of fiber-optic cable.

While other scientists have worked on similar projects, this group is the first to beam quantum information across such a great distance. What’s more, they did so across two separate networks and with a fidelity greater than 90 percent. One of the researchers on the team told Motherboard they built the networks using “off-the-shelf” components, and that their tech is compatible with existing telecommunications equipment.

In PRX Quantum, where the team published its findings, they say their work provides “a realistic foundation for a high-fidelity quantum Internet with practical devices.” They added, “this is a key achievement on the way to building a technology that will redefine how we conduct global communication.” Experts believe a quantum internet could revolutionize a variety of computing fields, including cryptography and search.

The process of teleporting qubits across a great distance doesn’t actually involve transferring matter. Instead, it takes advantage of a phenomenon called entanglement where the properties of a pair of particles are linked in such a way that they remain connected regardless of the distance between them.

With two 13-mile networks under their belts, the Caltech and Fermilab teams plan to build a city-scale network called the Illinois Express Quantum Network in Chicago next. But don’t expect you’ll be able to replace your Comcast or AT&T internet just yet — and, no, we won’t be using this technology to teleport people anytime soon either. “People on social media are asking if they should sign up for a quantum internet provider (jokingly of course),” Maria Spiropulu, one of the particle physicists who co-authored the paper, told Motherboard. “We need (a lot) more R&D work.”

Latest Stories

  • Bill Gates-backed electric car battery startup is on the cusp of changing the industry

    QuantumScape founder and CEO Jagdeep Singh chats with Yahoo Finance about the company's big battery breakthrough.

  • I’m 55, tired of ‘soul-crushing jobs,’ have $1 million invested poorly — can I retire now?

    See: I’m 63, unemployed since March, and have $220,000 in retirement savings — should I claim Social Security early? The same can be said for housing — rent prices may fluctuate and rise much faster than your income, said Nadine Burns, president and chief executive officer of A New Path Financial. Believe it or not, a retirement in the near future is feasible, some financial advisers said.

  • 2 Big Dividend Stocks Yielding 8%; Wells Fargo Says ‘Buy’

    Step back, take a look at the bigger picture. The markets are up this week, with gains in all three main indexes amid optimism over a coronavirus stimulus bill.At times like this, it is tempting to jump on a bandwagon and buy up the growth stocks, aiming to capitalize on the broader trends. But is that really the best play? Analysts from Wells Fargo are pointing out stocks with sky-high dividend yields from companies that have also demonstrated their commitment to keeping the payout reliable.This type of high-yield reliable dividend payer is generally seen as a defensive portfolio move, shoring up income streams during the fat times, to be ready for the lean. After the year we’ve just had, perhaps it’s time to take Wells Fargo’s advice, and get into some old-school portfolio protection. The TipRanks database sheds some additional light on two of Wells Fargo's picks – stocks with dividends yielding 8% – and that the investment firm sees with 15% upside or better.TC Pipelines LP (TCP)Starting in the energy industry, TC Pipelines is, as its name suggests, a player in the midstream sector. The company, through its subsidiaries, owns and operates a network of natural gas pipelines in the US and Canada, and is responsible for transporting as much as 25% of all the natural gas used in North America. The company’s network links northern British Columbia and Alberta with the Great Lakes region and the Appalachian gas regions, and extends to ports on the US Gulf Coast.TCP’s shares tumbled during this ‘corona crisis’ year, showing a 21% year-to-date loss. Revenues, however, have shown much lower volatility. The top line dropped 10% from the end of 2019 to its trough in 2Q20, and in Q3 bounced back to $99 million, a 4.2% sequential gain. Q3 earnings, at 90 cents per share, showed a 13% sequential gain and an 18% year-over-year gain. During the quarter, the company also reported paying out cash distributions totaling $47 million. This included the 65-cent dividend per common share, a payment that has been held steady for over two years. In the longer view, TCP has a 21-year history of dividend reliability. At the current payment, the dividend annualizes to $2.60 per share and yields 8.2%.Wells Fargo analyst Praneeth Satish wrote the review on TC Pipelines, saying, “TCP reported solid Q3 results. For the most part, flows and utilization levels have remained unchanged throughout the pandemic and expansion projects are largely on schedule/budget… We view the stock as fundamentally undervalued, given attractive yield, robust coverage and improved balance sheet.”In line with these comments, Satish rates the stock an Overweight (i.e. Buy) and sets a $41 price target that implies an upside of 35% for the year ahead. (To watch Satish’s track record, click here)The analyst consensus on TCP is not unanimous, but almost. The Strong Buy consensus rating is supported by 3 Buys against a single Hold. Shares sell for $30.39, and the average price target of $40.33 indicates an upside of ~33%. (See TCP stock analysis on TipRanks)Golub Capital BDC (GBDC)The second stock today is Golub Capital, a business development company in the middle market. Golub makes financing and lending solutions available to mid-market companies that might otherwise have difficulty accessing capital markets. Golub’s portfolio totals more than $30 billion in assets under management.The company saw a steep and deep share price loss last winter, when the corona crisis hit the economy. Shares remained depressed until the beginning of May, but since then have been rising slowly. Starting from the May 4 trough, GBDC is up 53%. Year-to-date, however, the stock remains down 17%.Quarterly results have been volatile this year. Q1 saw deep losses, Q2 saw a recovery, and Q3 showed a sequential drop-off to $98.1 million. EPS was solid, at 57 cents, a great improvement from the year-ago EPS loss of $1.02.Golub paid out its common share dividend at 29 cents per share in Q3, the third quarter in a row at that level. The company has a reliable payout history, going back over a decade, and a habit of adjusting the dividend payment to keep it sustainable. The current payment annualizes to $1.16 per common share, and gives a yield of 8.4%.Among the fans is Wells Fargo analyst Finian O’Shea. In his latest note on Golub, the analyst noted, “GBDC continues to see portfolio-level operating performance, constructive sponsor support, and improvement in those companies most affected by shutdowns as the economy reopens… In our view, GBDC is a high-quality Quartile 1 BDC with a shareholder friendly structure, strong asset quality, and scale through resources of the Golub Capital platform.”In line with these upbeat comments, O’Shea rates Golub shares an Overweight (i.e. Buy), and his $16 price target suggests the stock has room for 16% growth next year. (To watch O’Shea’s track record, click here)The Moderate Buy consensus rating on Golub comes from an even split between Buy and Hold reviews. The stock’s average price target is $16, matching O’Shea’s, and the current trading price is $13.75. (See GBDC stock analysis on TipRanks)To find good ideas for dividend stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights.Disclaimer: The opinions expressed in this article are solely those of the featured analysts. The content is intended to be used for informational purposes only. It is very important to do your own analysis before making any investment.

  • Fastest-Growing Stocks: Square Stock Among 8 Stocks Expecting Up To 144% Growth In 2021

    What are the fastest-growing stocks to watch in 2021? Here's a list featuring GRWG stock, Square, Micron and five other stocks expecting up to 144% growth.

  • Fisker's Electric SUV Moves Closer To The Assembly Line

    Fisker and Magna International reached an agreement to begin the operational phase of manufacturing Fisker's Ocean SUV.

  • Dow Jones Jumps As McConnell Says Stimulus Deal Is 'At Hand'; Nasdaq, S&P 500 Hit New Highs

    The Dow Jones rallied while the S&P 500 and the Nasdaq hit record highs after Senate Leader Mitch McConnell said a coronavirus stimulus deal is 'at hand.'

  • When to Take Social Security: The Complete Guide

    How to decide whether to start collecting your retirement benefits at age 62, at your normal retirement age, or even later.

  • DoorDash Slips After Citron Calls IPO ‘Most Ridiculous’ of 2020

    (Bloomberg) -- DoorDash Inc.’s shares fell on Thursday after short-seller Citron Research described the food delivery company’s initial public offering as the “most ridiculous” of the year and said the stock is worth a fraction of its current price.Direct competitors, including Grubhub Inc., Uber Technologies Inc. and the recently acquired Postmates, are typically valued at three to six times sales, Citron said in a research report. DoorDash was trading at 19 times. However, accounting standards can vary from company to company.DoorDash should be worth $40 a share, Citron said, citing intense competition in the market for food delivery, lack of brand loyalty from customers and potential government regulation. That would represent a 74% decline from Thursday’s closing price.DoorDash has gained 51% since its debut last week. It fell 2.4% to $154.21 on Thursday. DoorDash declined to comment.The market debut of DoorDash was one of the most anticipated of 2020, already a banner year for startups going public. Back in June, private investors had valued the San Francisco-based company at $16 billion. When it opened for trading on Dec. 9, its fully diluted value topped $68 billion.DoorDash, the largest food delivery app in the U.S., faces strong competition, notably from Uber and Grubhub. Uber tried to acquire Grubhub this year, until Just Eat Takeaway.com NV intervened. Uber bought Postmates instead.Now DoorDash is eyeing delivery beyond just meals. The company started ferrying around convenience store items such as toilet paper this spring, which puts it in closer competition with giants such as Amazon.com Inc.(Updates with DoorDash’s closing share price.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • 8 Tax Breaks That Are Set to Expire on Dec. 31

    As year-end rapidly approaches, a bevy of federal tax breaks is set to expire on Dec. 31. Then Congress retroactively resurrected the deduction to cover qualified college expenses incurred in 2018-20. * Taxpayers with modified adjusted gross income (MAGI) up to $65,000, or up to $130,000 if you’re a married joint filer, can deduct qualified expenses up to $4,000.

  • What Is the Roth IRA 5-Year Rule?

    The Roth IRA 5-year rule applies in three situations and dictates whether withdrawals get dinged with penalties.

  • Toyota Calls EVs ‘Overhyped.’ It Sees a Huge Mismatch in Cost vs. Goals for the Industry.

    The second-most valuable and prolific car maker in the world has some words of caution for the fledgling EV industry.

  • Tesla Stock Jumps On Credit Rating Bump Ahead Of S&P 500 Inclusion

    S&P Global Ratings raised Tesla's credit rating ahead of the automaker's inclusion in the S&P 500 index on Monday. Tesla stock jumped to a new high.

  • 3 “Strong Buy” Stocks That Are Still Undervalued

    After a year that most of us want to forget, 2021 is shaping up to start with stability and an even keel. The election is safely behind us, the new Biden Administration promises a ‘no drama’ approach, a closely divided and hyper-partisan Congress is unlikely to enact any sweeping legislation, reform or otherwise, and COVID vaccines are ready for distribution. It’s a recipe for a calm news cycle.Which makes it a perfect time to buy into the stock market. Investors can read the tea leaves, or study the data – whatever their preferred mode of stock analysis – and use this period of calm to make rational choices on the stock moves. Using the TipRanks database, we’ve pulled up three stocks that present a bullish case. All three meet a profile that should interest value investors. They hold unanimous Strong Buy consensus ratings, along with a ‘perfect 10’ from the Smart Score. That score, a unique measure, evaluates a stock based on 8 factors with a proven high correlation to future overperformance. A ‘10’ score indicates a strong likelihood that the stock will rise in the coming year. And finally, all three of these stocks present with double-digit upside potentials, indicating that they are still undervalued.UMH Properties (UMH)We’ll start in the real estate investment trust (REIT) sector, with UMH Properties. This company, which started out after WWII in the mobile home industry, later become the premier builder of manufactured housing. Today, UMH owns and manages a portfolio of 124 manufactured housing communities, spread across 8 states in the Northeast and Midwest, and totaling well over 23,000 units. As a REIT, UMH has benefitted from the nature of manufactured houses as affordable options in the housing market. UMH both sells the manufactured homes to residents, while leasing the plots on which the properties stand, and leases homes to residents. The company’s same-property income, a key metric, showed 8.6% year-over-year increase in the third quarter.Also in the third quarter, UMH reported a 16% yoy increase in top line revenue, showing $43.1 million compared to $37.3 million in the year-ago quarter. Funds from Operations, another key metric in the REIT sector, came in at 11 cents per share, down from 14 cents in 3Q19. The decrease came as the company redeemed $2.9 million in Series B Preferred Stock.REIT’s are required to return income to shareholders, and UMH accomplishes this with a reliable dividend and a high yield of 4.7%. The payment, at 18 cents per common share, is paid quarterly and has been held stable for over a decade.Compass Point analyst Merrill Ross believes the company is in a sound position to create value for both households and shareholders."We believe that UMH has proven that it can bring attractive, affordable housing to either renters or homeowners more efficiently than has been possible with vertical rental housing. As UMH improves its cost of funds, it can compete more effectively with other MH community owners in the public and private realms, and because it has a successful formula to turn around undermanaged communities, we think that UMH can consolidate privately-owned properties over the next few years to build on its potential for value creation," Ross opined.To this end, Ross rates UMH a Buy, and her $20 price target implies a 25% one-year upside. (To watch Ross’s track record, click here)Overall, the unanimous Strong Buy on UMH is based on 5 recent reviews. The stock is selling for $15.92, and the $18.40 average price target suggests it has room for 15% growth from that level. (See UMH stock analysis on TipRanks)Laird Superfood (LSF)Laird Superfood is a newcomer to the stock markets, having gone public just this past September. The company manufactures and markets a range of plant-based, nutrient-dense food additives and snacks, and is most known for its line of specialized non-dairy coffee creamers. Laird targets customers looking to add nutrition and an energy boost to their diet.Since its September IPO, the company has reported Q3 earnings. Revenue was strong, at $7.6 million, beating the forecast by over 26% and coming in 118% above the year-ago figure. The company also reported a 115% yoy growth in online sales. Ecommerce now makes up 49% of the company’s net sales – no surprise during the ‘corona year.’The review on the stock comes from Robert Burleson, a 5-star analyst from Canaccord. Burleson reiterates his bullish position, saying, “We continue to view LSF as an attractive platform play on strong demand trends for plant-based, functional foods, noting LSF’s competitively differentiated omni-channel approach and ingredients ethos. Over time, we expect LSF to be able to leverage its brand and vertically integrated operation into success in a broad range of plant-based categories, driving outsized top-line growth and healthy margin expansion.”Burleson rates LSF shares a Buy alongside a $70 price target. This figure indicates his confidence in ~63% growth on the one-year horizon. (To watch Burleson’s track record, click here)Laird has not attracted a lot of analyst attention, but those who have reviewed the stock agree with Burleson’s assessment. LSF has a unanimous Strong Buy analyst consensus rating, based on 3 recent reviews. The stock’s $62.33 average price target suggests room for ~39% upside in the coming year. (See LSF stock analysis on TipRanks)TravelCenters of America (TA)Last but not least is TravelCenters of America, a major name in the transportation sector. TravelCenters owns, operates, and franchises full-service highway rest stops across the US – an important niche in a country that relies heavily on long-haul trucking, and in which private car ownership has long encouraged the ‘road trip’ mystique. TA’s network of rest stops offers travelers convenience stores and fast-food restaurants in addition to gasoline and diesel fuel and the expected amenities.The corona crisis has been hard time for TA, as lockdown regulations put a damper on travel. The company’s revenues bottomed out in Q2, falling to $986 million, but rose 28% sequentially to hit $1.27 billion in Q3. EPS, at 61 cents, was also strong, and showed impressive 165% year-over-year growth. These gains came as the economy started reopening – and with air travel still restricted, automobiles become the default for long distance, a circumstance that benefits TravelCenters. Covering TravelCenters for BTIG is analyst James Sullivan, who rates the stock a Buy, and his $40 price target suggests a 22% upside over the coming year. (To watch Sullivan’s track record, click here)Backing his stance, Sullivan noted, "TA is in the process of moving on from a series of unsuccessful initiatives under the prior management team. The current new management team has strengthened the balance sheet and intends to improve operations through both expense cuts and revenue-generating measures which should boost margins [...] While we expect the 2020 spend to be focused on non-revenue generating maintenance and repair items, we expect in 2021 and beyond that higher spending should generate good ROI…” All in all, TravelCenters shares get a unanimous thumbs up, with 3 Buys backing the stock’s Strong Buy consensus rating. Shares sell for $32.87, and the average price target of $38.33 suggests an upside potential of ~17%. (See TA stock analysis on TipRanks)To find good ideas for stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights.Disclaimer: The opinions expressed in this article are solely those of the featured analysts. The content is intended to be used for informational purposes only. It is very important to do your own analysis before making any investment.

  • Gold Rebounds On Weak Dollar, But Jan. 5 Will Be Key

    Does buying gold stocks, or betting on the gold price, make sense, despite vaccine progress? The outlook for gold stocks and the gold price could hinge on two Jan. 5 Senate runoffs in Georgia.

  • Morgan Stanley Downgraded AT&T Stock Because the Next Catalyst Is Likely to Be Negative

    The analysts raised concerns over a range of issues, including whether the company will be able to keep up with rivals that have more ability to spend.

  • GM Could Make Billions Following Tesla On This Path: Analyst

    GM could follow the trail Tesla blazed in generating recurring revenue from autonomous cars and connected services, Morgan Stanley said.

  • Cramer Weighs In On Plug Power, Marvell And More

    On CNBC's "Mad Money Lightning Round," Jim Cramer said there was an upgrade on Wednesday which made him feel like HCA Healthcare Inc (NYSE: HCA) is going to be a winner when this thing is over. He thinks the stock goes to $200.Everybody likes mobile entertainment, said Cramer. He wants to do more work on the stock because it's hot as a pistol.Ford Motor Company (NYSE: F) is excellent, said Cramer. He likes the stock because it is run by the car guy.Cramer thought Plug Power Inc (NASDAQ: PLUG) would run out of steam, but there are so many positive hydrogen stories. He would not give up on hydrogen.Instead of Desktop Metal Inc (NYSE: DM), Cramer would buy HP Inc (NYSE: HPQ).Cramer would not go to Party City Holdco Inc (NYSE: PRTY). He feels it is too risky.Marvell Technology Group Ltd. (NASDAQ: MRVL) is the ultimate 5G play and the stock is going higher, thinks Cramer.See more from Benzinga * Click here for options trades from Benzinga * Jeff Kilburg's US Dollar Futures Trade * 'Halftime Report' Traders Advise Viewers On Nike, Cisco And More(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

  • Biotech Pair Halted After IPO Craze Triggers Massive Rallies

    (Bloomberg) -- The surge in two freshly minted stocks on Thursday triggered trading halts amid a frenzied rush into initial public offerings.Scopus Biopharma Inc., a cancer-therapy developer, soared as much as 708%, following a 7.6% jump in its Wednesday debut. Meanwhile, medical-technology company Vivos Therapeutics Inc. trimmed its advance to 28% when trading resumed, after almost doubling earlier in the day.Not since the height of the dot-com bubble two decades ago have public listings done more to enrich owners amid unprecedented Federal Reserve stimulus and the resurgence of individual investors as the biggest market force. The pharmaceutical industry, in particular, has enjoyed a meteoric rally as the advancement of vaccines and other therapies has kept several Wall Street analysts hopeful. The Nasdaq Biotechnology Index traded near record highs.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • AT&T stock falls after Morgan Stanley downgrades on competitive pressures

    AT&T Inc. shares are falling Thursday after Morgan Stanley downgraded the stock, citing competitive concerns ahead.

  • 'There is hardly any gas': LNG price rally exacerbates gas crunch in Asia

    Surging spot prices for liquefied natural gas (LNG) are exacerbating a gas supply crunch in key fast-growing emerging markets in Asia just as a cold spell in other parts of the region boosts demand for the fuel. Companies from Pakistan to China have cancelled a flurry of LNG tenders this week, several trade sources said, as lofty prices risk pushing up the input costs of industries, which could make energy more expensive for consumers. Benchmark Asia spot LNG prices have soared sevenfold since May to six-year highs, driven by production losses in Australia, Malaysia, Norway and Qatar combined with accelerating use in China, India and elsewhere.