U.S. Stocks Open Lower; Quantum Computing Stock Surges 24% After Beating Q1 Estimates

Tiger Newspress

05/12

U.S. stocks slipped on Tuesday, weighed down by higher oil prices, as traders reacted to a hotter-than-expected annual consumer price index reading for April.

The broad market index was 0.3% lower, and the Nasdaq Composite dropped 0.7%. The Dow Jones Industrial Average traded around the flatline.

Quantum Computing shares surged 24% after the company reported earnings for its first quarter of Fiscal Year 2026. Earnings per share came in at -$0.02, which beat analysts’ consensus estimate of -$0.05 per share. In addition, sales increased significantly year-over-year, with revenue hitting $3.7 million versus the $39,000 in Q1 2025. This beat analysts’ expectations of $3.13 million. This revenue jump is mainly due to QUBT’s acquisitions of Luminar Semiconductor in February and NuCrypt in March.

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