The U.S. semiconductor sector now has the poorest risk-reward ratio in three years as cyclical risks are piling up, according to the broker, which last month said investors should sell the crowded technology sector.
Former Microsoft Corp. Chief Executive Officer Steve Ballmer is backing a project to give schools and social service workers technology to find and predict when kids need help like food aid, after-school care and tutoring.
For years evangelists have promised machines capable of breaking the most impenetrable coded messages, unlocking the secret properties of the physical world and putting supercomputers to shame. But Rigetti Computing would just like to lower everyone’s expectations.
The company, based in Palo Alto, California, makes software that clients use to collect and analyze data in industries from banking to transportation. It currently has about $2.9 billion of debt, according to data compiled by Bloomberg.
Symantec Corp., the world’s biggest maker of cyber-security software, tumbled as much as 15 percent after announcing it will cut as much as 8 percent of its workforce and gave a disappointing forecast for quarterly profit and revenue.