Intel Acquires Classiq in $2.3 Billion Quantum Push; Cadence and Welltower Raise Guidance

By / / Breaking News

This update was written automatically with AI from market data and news wire reports, and published without review by a person.

Key Takeaways

  • Intel (INTC) announced a landmark $2.3 billion acquisition of Israeli startup Classiq, marking the largest exit in quantum computing history and signaling a major shift toward full-stack quantum capabilities.
  • Cadence Design Systems (CDNS) shares rose in after-hours trading after the company raised its full-year 2026 guidance for the third time this year, driven by a record $8.2 billion backlog and AI-driven chip design demand.
  • Whirlpool (WHR) shares tumbled over 8% following a significant Q3 miss and a slashed full-year outlook, as soft demand led to the company's 11th revenue decline in the last 12 quarters.
  • Welltower (WELL) raised its full-year normalized FFO guidance to $6.47–$6.53 per share, despite a slight Q3 earnings miss, supported by robust 21% same-store NOI growth in its senior housing portfolio.
  • JetBlue (JBLU) reported a wider Q3 loss of $0.60 per share (adjusted) as a 61% surge in fuel costs offset record revenue, though management remains committed to reaching $1 EPS by 2028.

Intel Makes Record-Breaking Bet on Quantum Software

Intel (INTC) has entered into a definitive agreement to acquire Classiq, an Israeli-based leader in quantum computing software, for approximately $2.3 billion in cash and stock. The deal is the most expensive acquisition in the history of the quantum industry, surpassing the previous record of $1 billion set by IonQ.

By integrating Classiq's synthesis platform with its own spin-qubit hardware, Intel aims to build a full-stack quantum computing platform. Classiq will become Intel's global development center for quantum computing, with the transaction expected to close in the first half of 2027.

Cadence and Welltower Raise Guidance on Strong Momentum

Cadence Design Systems (CDNS) reported a strong Q3 with revenue of $1.63 billion, beating estimates of $1.61 billion. The company raised its fiscal 2026 adjusted EPS guidance to $8.37–$8.43, citing "broad-based business momentum" and the launch of Maestro, its new portfolio of AI models for chip design.

Similarly, healthcare REIT Welltower (WELL) increased its full-year outlook despite reporting Q3 net income of $0.54 per share, which fell short of the $0.65 consensus. The company’s optimism is fueled by its Seniors Housing Operating (SHOP) portfolio, which saw average occupancy growth of 320 basis points year-over-year.

Whirlpool and JetBlue Face Macroeconomic Headwinds

Whirlpool (WHR) struggled in the third quarter, posting an adjusted loss of $0.21 per share against expectations of a $0.80 profit. Revenue fell 8.8% to $3.68 billion, leading the company to lower its full-year sales guidance to $14.5 billion. To combat these trends, Whirlpool announced price increases of up to 10% in Latin America and 7% in North America effective Q4.

JetBlue (JBLU) also faced a difficult quarter, reporting an operating margin of -5.1% as fuel prices averaged $3.91 per gallon. Despite the quarterly loss, the airline expects 1-2 points of operating margin expansion in Q4, supported by projected revenue growth of 18-22% and a "meaningful step-down" in unit-cost growth excluding fuel.

Disclaimer: This article is for informational purposes only and does not constitute financial advice. We are not financial professionals. The authors and/or site operators may hold positions in the companies or assets mentioned. Always do your own research before making financial decisions.
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