Narure : Quantum-computing approach uses single molecules as qubits for first ti

Quantum-computing approach uses single molecules as qubits for first time
Platforms based on molecules manipulated using ‘optical tweezers’ might be able to perform complex physics calculations.

Physicists have made the first step towards building quantum computers out of individual molecules trapped with laser devices called optical tweezers. Two teams report their results in Science on 7 December1,2, in both cases making pairs of calcium monofluoride molecules interact so that they became entangled — a crucial effect for quantum computing.

The two papers constitute a “landmark result”, says Adam Kaufman, a physicist at the University of Colorado Boulder. “This opens the door to leveraging entangled states to enhance the potential applications of molecular tweezer arrays.”

Some of the first demonstrations of the basic principles of quantum computing, in the late 1990s, used large numbers of molecules manipulated in a solution inside a nuclear magnetic resonance machine. Since then, researchers have developed a variety of other platforms for quantum computing, including superconducting circuits and individual ions held in a vacuum. Each of these objects is used as the fundamental unit of quantum information, or qubit — the quantum equivalent of the bits in classical computers.

In the past few years, another strong contender has emerged, in which the qubits are made of neutral atoms — as opposed to ions — trapped with highly focused laser-beam ‘tweezers’.

Now, two separate teams have made early progress towards using this approach with molecules instead of atoms. “Molecules have a bit more complexity, which means they offer new ways to both encode quantum information, and also new ways in which they can interact,” says Lawrence Cheuk, a co-author of one of the papers2 who is a physicist at Princeton University in New Jersey. “This offers unprecedented ways for processing quantum information.”

Very cool molecules
Both studies used arrays of optical tweezers with one molecule trapped in each tweezer. Through laser techniques, they cooled the molecules to temperatures of tens of microkelvin, just millionths of a degree above absolute zero. In this state, the molecules were close to being completely still. Their rotation could be stopped, or they could be made to rotate with just one quantum of rotational momentum, called ħ — the smallest rotational speed they can possibly have. Both teams used non-rotating molecules to represent the ‘0’ state of their qubits, and rotating ones to represent the ‘1’.

Calcium monofluoride is highly polar — the negative electric charges carried by its electrons cluster towards the fluorine atom, leaving the calcium end of the molecule with a net positive charge. The researchers could coax two calcium monofluoride molecules to interact by ‘feeling’ each other’s positive and negative poles. “The dipolar interaction of molecules gives us an extra tuning knob,” says John Doyle, a physicist at Harvard University in Cambridge, Massachusetts, who co-authored the other paper1.

In this way, the team was able to demonstrate that the molecules became entangled, meaning that they formed a collective quantum system. This is required for quantum computers to run algorithms.

For most applications, molecular quantum computers will be slower than those using other types of qubit, researchers say. But molecules could be a natural environment in which to manipulate quantum information using ‘qutrits’, which have the three possible states: −1, 0 and +1. Qutrits could offer a way to carry out quantum simulations of complex materials or the fundamental forces of physics.

Doyle adds that these advances could also help in the use of trapped molecules for high-precision measurements that could reveal the existence of new elementary particles.

The work "highlights the phenomenal rate at which this field has advanced," says Hannah Willams, a physicist at the University of Durham, UK. "With this achievement, they have shown that molecules will be the basis for a competitive platform capable for quantum simulation."

FT : Xi Jinping warns China’s economic recovery at ‘critical stage’

Xi Jinping warns China’s economic recovery at ‘critical stage’
Communist party Politburo promises ‘proactive’ fiscal and ‘effective’ monetary policy to support growth

President Xi Jinping has warned that China’s economic recovery is “still at a critical stage” as Communist party leaders pledged to support growth with further “proactive” fiscal and “effective” monetary policy in the new year.

The comments follow months of mixed data in the world’s second-largest economy, with exports in dollar terms turning slightly positive in November after a long dip, while official data suggested manufacturing activity was weakening.

In a speech to a political gathering in Beijing, Xi said that although the economic recovery from the pandemic was improving, it faced an adverse international political and economic environment and overlapping domestic cyclical and structural challenges.

“At present, our country’s economic recovery is still at a critical stage,” the state news agency Xinhua on Friday quoted Xi as saying in the speech earlier in the week. “The development situation facing our country is complex.”

China’s economy has struggled to rebound from the impact of strict Covid controls imposed last year and a deep liquidity crisis in the property sector that have undermined growth and investor and consumer confidence.

The government has gradually stepped up monetary and fiscal stimulus, cutting interest rates and announcing the issuance of Rmb1tn ($140bn) in central government bonds, but the pick-up in activity has been slow and uneven.

Separately, the Communist party’s Politburo declared at a meeting held on Friday to discuss economic work for the coming year that the government should “continue to implement proactive fiscal policies and prudent monetary policies”.

It said Beijing should improve “the quality and efficiency” of fiscal policies while monetary policy should be “flexible, appropriate, precise and effective”, Xinhua reported.

The meeting also said it was “necessary to . . . strengthen economic propaganda and public opinion guidance”. Economists have complained of growing pressure from Beijing not to talk down the economy this year.

Following a sharp rise in youth unemployment, the National Bureau of Statistics this year also discontinued a data series on joblessness among the young.

Xinhua did not reveal whether the Politburo discussed next year’s official gross domestic product growth target. This is usually announced in March at the annual meeting of China’s rubber-stamp parliament and is one of the most keenly anticipated policy decisions in the country’s economic calendar.

Beijing this year set the target for GDP growth at 5 per cent, its lowest in decades. Economists speculate it might set the same level for 2024, though they warn substantial stimulus would be needed to achieve this growth given the lacklustre momentum in the economy.

Citi analysts said in a research note that the language from the Politburo showed a shift in its policy bias towards “progress”, which includes economic growth, after many years in which Beijing stressed “stability”.

“We have long been arguing that development should be a pre-condition for stability, national security and geopolitical agendas,” the analysts wrote. They predicted Beijing would set a target of 5 per cent next year, but warned there would be no “mega stimulus”.

HSBC Greater China economist Erin Xin said in a research note that in addition to policies to boost the housing market, “we expect Beijing to continue to increase fiscal support while monetary policy is likely to remain accommodative”.

“China’s domestic demand recovery still needs more support,” Xin wrote.

The Politburo meeting also called on cadres to step up an anti-corruption drive in the new year, particularly to “seriously investigate and deal with . . . ‘flies and ants’” — a term for corrupt local government and state enterprise officials.

>>> Europe : Brokers Upgrades & Downgrades - 8th of December 2023 V3(++)

>>> Up
* Adyen Raised to Buy at Citi; PT 1,400 euros
* Airbus Raised to Buy at Deutsche Bank; PT 152 euros
* Ericsson Raised to Buy at Jefferies; PT 70 kronor
* First Solar Raised to Overweight at Morgan Stanley; PT $237 (+)
* Apple PT Raised to $220 from $210 at Morgan Stanley (+)
* Brdcooam Raised to Buy at Summitts Insigh
* Hexagon Raised to Neutral at Bryan Garnier; PT 105 kronor (+)
* Imperial Oil Raised to Neutral at JPMorgan; PT C$97
* LeadDesk Raised to Buy at Inderes; PT 8 euros
* Lloyds Raised to Neutral at Redburn; PT 50 pence (+)
* Lululemon PT Raised to $493 from $437 at Morgan Stanley (+)
* Lululemon PT Raised to $500 from $450 at KeyBanc (+)
* Lululemon PT Raised to $495 from $455 at Piper Sandler (+)
* Lululemon PT Raised to $540 from $450 at Oppenheimer (++)
*Lululemon PT Raised to $530 from $480 at Barclays (++)
* Nexi Raised to Buy at Citi; PT 8.60 euros
* OMV Raised to Neutral at JPMorgan (+)
* Owens Corning Raised to Buy at Deutsche Bank
* Sainsbury Raised to Buy at Goldman; PT 350 pence
* Watsco Raised to Buy at Deutsche Bank

>>> Down
* Adecoagro Cut to Underweight at JPMorgan; PT $10.50
* Alstom Cut to Neutral at JPMorgan; PT 14.40 euros
* Huhtamaki Cut to Accumulate at Inderes; PT 40 euros
* DNB Bank Cut to Sell at UBS; PT 200 kroner (+)
* Epiroc Cut to Underweight at JPMorgan; PT 180 kronor
* Galp Cut to Underweight at JPMorgan (+)
* Imperial Brands Cut to Sector Perform at RBC; PT 1,800 pence
* KB Home Cut to Sell at Deutsche Bank
* Lam Research Cut to Equal-Weight at Morgan Stanley
* MEG Energy Cut to Neutral at JPMorgan; PT C$33
* MTU Aero Cut to Hold at Deutsche Bank; PT 199 euros
* Nemetschek Cut to Hold at Berenberg; PT 78 euros
* Nokia Cut to Hold at Jefferies; PT 3 euros
* Pool Corp Cut to Hold at Deutsche Bank
* RELX Cut to Hold at Kepler Cheuvreux; PT 3,100 pence (++)
* Rexel Cut t o Neutral at JPMorgan; PT 25 euros
* RTL Cut to Hold at Kepler Cheuvreux; PT 36 euros (++)
* Safran Cut to Hold at Deutsche Bank; PT 170 euros
* Sandvik Cut to Neutral at JPMorgan; PT 195 kronor
* Stadler Rail Cut to Underweight at JPMorgan; PT 30 Swiss francs
* Zurich Airport Cut to Neutral at UBS; PT 195 Swiss francs (++)

>>> Initiation
* Alcoa Rated New Hold at HSBC; PT $29
* Hershey Rated New Neutral at DA Davidson; PT $205
* Kingspan Rated New Neutral at Citi; PT 75 euros
* Lancaster Colony Rated New Neutral at DA Davidson; PT $185
* Legrand Rated New Outperform at Cowen; PT 120 euros
* Mondelez Rated New Buy at DA Davidson; PT $83
* Rexel Rated New Outperform at Cowen; PT 30 euros

>>> Call
* Adyen, Nexi Gain as Citi Upgrades, Turns Bullish on Payments (++)
* Adyen Gets Double Upgrade as Citi Now Positive on Payments (+)
* Alstom Cut at JPMorgan, Needs To Regain Trust After Warning (+)
* Anglo American Plans Deep Production Cuts to Save Cash Next Year (+)
* Cash Funds Gets Largest Weekly Inflow Since March, BofA Says (+)
* DNB and Handelsbanken Fall as UBS Downgrades in Nordic Review (++)
* Strategists Have Bad News for Europe Equity Bulls About 2024
* Deutsche Bank Sees Builder Strength Ahead Despite Rate Dynamics
* Epiroc Cut to Underweight at JPMorgan on Elevated Valuation (+)
* Rexel Levers Are Critical for Margin as Volume, Price Risks Loom
* Sandvik Cut to Neutral at JPMorgan on Poor Momentum (1) (+)
* Sainsbury Lifted to Buy at Goldman on Closing Price Gap to Aldi (+)
* SEMICONDUCTOR INDUSTRY RAISED TO ATTRACTIVE AT MORGAN STANLEY
* SEMI-CAP INDUSTRY CUT TO CAUTIOUS VS IN-LINE AT MORGAN STANLEY
* Siemens Energy Falls; JPMorgan Downgrades to Underweight (++)

>>> US Gapping Down

Gapping down
In reaction to earnings/guidance:

HCP -23.3%, CDMO -14.9%, JOUT -14.6%, RH -7.9%, SWBI -3.2%, LULU -2.3%, AZUL -1.9%, DOCU -1%, TSM -0.5% (Nov sales)
Other news:

GTES -8.2% (pricing of secondary offering of 15,000,000 ordinary shares by certain selling stockholders)
SYRE -4.3% (enters $180 mln private placement)
CHRS -3% (CFO resigns to pursue other opportunities; provides CFO transition plans)
HON -2.2% (Honeywell acquires Carrier's (CARR) Global Access Solutions for $4.95 bln)
PRQR -2% (completed a transaction divesting late stage ophthalmic assets, sepofarsen and ultevursen, to Laboratoires Théa)
SPOT -1.2% (CFO leaving)
Analyst comments:

KBH -1.3% (downgraded to Neutral from Buy at Citigroup)
QCOM -1.2% (downgraded to Equal-Weight from Overweight at Morgan Stanley)
LRCX -1.1% (downgraded to Equal-Weight from Overweight at Morgan Stanley)
DECK -1% (downgraded to Neutral from Buy at Citigroup)
POOL -1% (downgraded to Hold from Buy at Deutsche Bank)

>>> US Gapping Up

Gapping up
In reaction to earnings/guidance:

CURV +16.6% (also names new CFO), PL +8.6%, MOMO +8.4%, SMAR +4%, FIZZ +1.4%, MNDY +1.1% (guidance), .
Other news:

MBI +63.8% (declares special cash dividend)
CARR +5.9% (Honeywell acquires Carrier's (CARR) Global Access Solutions for $4.95 bln)
AVTR +3.4% (new strategic operating model; reiterates FY23 guidance)
MCRB +2.7% (Presentation of Preliminary PK/PD and Safety Data for Investigational Microbiome Therapeutic SER-155 at ASH 2023)
BLBD +2.4% (forms JV with Generate Capital)
CUBE +1.7% (increases dividend)
DLR +1.5% (establishing JV with Blackstone)
RKLB +1.5% (launch agreement with South Korea)
PRIM +1.2% (receives over $800 mln in awards)
HI +1.1% (increases dividend)
Analyst comments:

BLUE +4.4% (upgraded to Equal-Weight from Underweight at Morgan Stanley)
FSLR +3% (upgraded to Overweight from Equal-Weight at Morgan Stanley)
QRVO +1.4% (upgraded to Overweight from Equal-Weight at Morgan Stanley)

>>> US Early premarket gappers

Early premarket gappers

Gapping up:
MBI +62.5%, CURV +17.8%, MOMO +8.4%, SMAR +3.8%, AVTR +3.4%, BLBD +2.4%, RKLB +1.9%, MCRB +1.8%, CUBE +1.7%, DLR +1.5%, FIZZ +1.4%, PRIM +1.2%, CCI +1.2%, OC +1.1%, JOUT +1%, MITK +0.7%, MT +0.6%, AVGO +0.6%
Gapping down:
HCP -24.1%, CDMO -19.7%, RH -9%, GTES -8%, SWBI -7.9%, SYRE -4.3%, LULU -3.2%, PL -2.7%, AZUL -1.9%, SPOT -1%, GSL -0.9%, DOCU -0.9%, BNTX -0.7%

>>> US Research Calls

Research Calls

Upgrades:
American Woodmark (AMWD) upgraded to Hold from Sell at Deutsche Bank; tgt raised to $88
Broadcom (AVGO) upgraded to Buy from Hold at Summit Insights
Bluebirdbio (BLUE) upgraded to Equal-Weight from Underweight at Morgan Stanley; tgt raised to $7
Equifax (EFX) upgraded to Buy from Hold at Deutsche Bank
First Solar (FSLR) upgraded to Overweight from Equal-Weight at Morgan Stanley; tgt raised to $237
Owens Corning (OC) upgraded to Buy from Hold at Deutsche Bank; tgt raised to $180
Qorvo (QRVO) upgraded to Overweight from Equal-Weight at Morgan Stanley; tgt raised to $134

Downgrades:
Casey's General (CASY) downgraded to Market Perform from Outperform at BMO Capital Markets
Cintas (CTAS) downgraded to Hold from Buy at Deutsche Bank; tgt raised to $590
Deckers Outdoor (DECK) downgraded to Neutral from Buy at Citigroup; tgt raised to $710
KB Home (KBH) downgraded to Sell from Hold at Deutsche Bank; tgt lowered to $46
Lam Research (LRCX) downgraded to Equal-Weight from Overweight at Morgan Stanley; tgt $720
Pool (POOL) downgraded to Hold from Buy at Deutsche Bank; tgt lowered to $368
Qualcomm (QCOM) downgraded to Equal-Weight from Overweight at Morgan Stanley; tgt raised to $132

Others:
Allogene (ALLO) initiated with a Buy at Citigroup; tgt $7
Alnylam Pharma (ALNY) initiated with a Equal Weight at Wells Fargo; tgt $171
BridgeBio Pharma initiated with a Overweight at Wells Fargo; tgt $58
Freshpet (FRPT) initiated with a Buy at DA Davidson; tgt $104
Mondelez Int'l (MDLZ) initiated with a Buy at DA Davidson; tgt $83
Synaptics (SYNA) initiated with a Overweight at JP Morgan; tgt $130

>>> UK CMA regulator seeks views on Microsoft's partnership with OpenAI, to revi

UK CMA regulator seeks views on Microsoft's partnership with OpenAI, to review whether the partnership has resulted in an acquisition of control; Comes in advance of any launch of a formal phase 1 investigation

The Competition and Markets Authority (CMA) is today providing an early opportunity for the parties and interested third parties to comment on whether the partnership between Microsoft and OpenAI, including recent developments, has resulted in a relevant merger situation and, if so, the impact that the merger could have on competition in the UK.

The Invitation to Comment (ITC) is the first part of the CMA's information gathering process and comes in advance of any launch of a formal phase 1 investigation.

The speed at which artificial intelligence (AI) is scaling across use cases and markets is unrivalled in economic history, while advances in powerful foundation models (FMs) mean that this is a pivotal moment in the development of this transformative technology. The CMA's recent report into the rapidly evolving market for FMs noted both opportunities and risks for competition and consumer protection, which were captured in a set of proposed principles to guide the development of the market toward positive outcomes for people and businesses. Critical among these is the need for sustained competition between AI developers which will help to deliver innovation, growth and responsible practices across the sector, as well as the need for open and effective competition in the deployment of FMs across a range of downstream activities.

As part of its ongoing work in this area, the CMA has been closely monitoring the impact of partnerships and strategic agreements which could result in a weakening of competition in the development or use of FMs. The partnership between Microsoft and OpenAI (including a multi-year, multi-billion dollar investment, collaboration in technology development and exclusive provision of cloud services by Microsoft to OpenAI) represents a close, multi-faceted relationship between two firms with significant activities in FMs and related markets.

There have recently been a number of developments in the governance of OpenAI, some of which involved Microsoft. In light of these developments, the CMA is now issuing an ITC to determine whether the Microsoft / OpenAI partnership, including recent developments, has resulted in a relevant merger situation and, if so, the potential impact on competition.

The CMA will review whether the partnership has resulted in an acquisition of control - that is, where it results in one party having material influence, de facto control or more than 50% of the voting rights over another entity - or change in the nature of control by one entity over another.

>>> Europe : Brokers Upgrades & Downgrades - 8th of December 2023 V2(+)

>>> Up
* Adyen Raised to Buy at Citi; PT 1,400 euros
* Airbus Raised to Buy at Deutsche Bank; PT 152 euros
* Apple PT Raised to $220 from $210 at Morgan Stanley (+)
* Broadcom Raised to Buy at Summit Insights
* Ericsson Raised to Buy at Jefferies; PT 70 kronor
* Hexagon Raised to Neutral at Bryan Garnier; PT 105 kronor (+)
* Imperial Oil Raised to Neutral at JPMorgan; PT C$97
* LeadDesk Raised to Buy at Inderes; PT 8 euros
* Lloyds Raised to Neutral at Redburn; PT 50 pence (+)
* Lululemon PT Raised to $493 from $437 at Morgan Stanley (+)
* Lululemon PT Raised to $500 from $450 at KeyBanc (+)
* Lululemon PT Raised to $495 from $455 at Piper Sandler (+)
* Nexi Raised to Buy at Citi; PT 8.60 euros
* OMV Raised to Neutral at JPMorgan (+)
* Owens Corning Raised to Buy at Deutsche Bank
* Sainsbury Raised to Buy at Goldman; PT 350 pence
* Watsco Raised to Buy at Deutsche Bank

>>> Down
* Adecoagro Cut to Underweight at JPMorgan; PT $10.50
* Alstom Cut to Neutral at JPMorgan; PT 14.40 euros
* Huhtamaki Cut to Accumulate at Inderes; PT 40 euros
* Epiroc Cut to Underweight at JPMorgan; PT 180 kronor
* Galp Cut to Underweight at JPMorgan (+)
* Imperial Brands Cut to Sector Perform at RBC; PT 1,800 pence
* KB Home Cut to Sell at Deutsche Bank
* Lam Research Cut to Equal-Weight at Morgan Stanley
* MEG Energy Cut to Neutral at JPMorgan; PT C$33
* MTU Aero Cut to Hold at Deutsche Bank; PT 199 euros
* Nemetschek Cut to Hold at Berenberg; PT 78 euros
* Nokia Cut to Hold at Jefferies; PT 3 euros
* Pool Corp Cut to Hold at Deutsche Bank
* Rexel Cut to Neutral at JPMorgan; PT 25 euros
* Safran Cut to Hold at Deutsche Bank; PT 170 euros
* Sandvik Cut to Neutral at JPMorgan; PT 195 kronor
* Stadler Rail Cut to Underweight at JPMorgan; PT 30 Swiss francs

>>> Initiation
* Alcoa Rated New Hold at HSBC; PT $29
* Hershey Rated New Neutral at DA Davidson; PT $205
* Kingspan Rated New Neutral at Citi; PT 75 euros
* Lancaster Colony Rated New Neutral at DA Davidson; PT $185
* Legrand Rated New Outperform at Cowen; PT 120 euros
* Mondelez Rated New Buy at DA Davidson; PT $83
* Rexel Rated New Outperform at Cowen; PT 30 euros

>>> Call
* Adyen Gets Double Upgrade as Citi Now Positive on Payments (+)
* Alstom Cut at JPMorgan, Needs To Regain Trust After Warning (+)
* Anglo American Plans Deep Production Cuts to Save Cash Next Year (+)
* Cash Funds Gets Largest Weekly Inflow Since March, BofA Says (+)
* Strategists Have Bad News for Europe Equity Bulls About 2024
* Deutsche Bank Sees Builder Strength Ahead Despite Rate Dynamics
* Epiroc Cut to Underweight at JPMorgan on Elevated Valuation (+)
* Rexel Levers Are Critical for Margin as Volume, Price Risks Loom
* Sandvik Cut to Neutral at JPMorgan on Poor Momentum (1) (+)
* Sainsbury Lifted to Buy at Goldman on Closing Price Gap to Aldi (+)
* SEMICONDUCTOR INDUSTRY RAISED TO ATTRACTIVE AT MORGAN STANLEY
* SEMI-CAP INDUSTRY CUT TO CAUTIOUS VS IN-LINE AT MORGAN STANLEY