The latest Market Talks covering Technology, Media and Telecom. Published exclusively on Dow Jones Newswires at 4:20 ET, 12:20 ET and 16:50 ET.
1210 ET - Bitcoin is trading around support levels now, says Matt Mena of 21Shares. BTC is down 3% to $72,895, but Mena maintains the resistance level for the cryptocurrency at $80,000. "The key level remains $80,000," says Mena. He explains that bitcoin remaining within the recent support-resistance range--even with a volatile situation around the U.S.-Iran conflict and the PCE report showing higher inflation--is a positive sign for prices. "The current consolidation suggests the market is cooling off before its next attempt higher," says Mena. He adds that a renewed run higher could lead bitcoin to a range of $85,000 to $95,000 by the end of the quarter. (kirk.maltais@wsj.com)
1159 ET - IBM announces two multi-billion dollar projects across both cybersecurity and quantum computing, moves Wedbush analysts say will help ensure the company stays ahead of the largest market transformations currently underway. The company's $5 billion venture with its Red Hat unit--to establish a new model for open-source software supported by advanced AI-- "was a smart move by IBM to ensure that all enterprises leveraging open-source software within Red Hat can protect new and existing environments," the analysts say in a research note. And IBM's $10 billion investment in quantum computing will help maintain its position as a leader in the nascent sector. "We believe IBM's positioning at the forefront of AI and quantum remains underappreciated," the analysts say. IBM climbs 4%. (connor.hart@wsj.com)
1157 ET - AI products are driving Snowflake's growth and becoming an increasingly significant part of its business, according to Benchmark in a note. "AI is no longer a sideshow, it is serving as a significant revenue contributor," analyst Yi Fu Lee says. In particular, Snowflake Intelligence, the company's enterprise AI agent platform, and Cortex Code, the company's AI-powered coding agent, "are the twin AI stars scaling faster than any products in the company's history," he says. The analyst believes Snowflake is experiencing a "flywheel effect where AI accelerates core consumption, and core data gravity fuels further AI adoption." Snowflake surges 37% after 1Q profit handily surpassed Wall Street's expectations. (chris.kuo@wsj.com)
1101 ET - Outflows of money from bitcoin ETFs climbed to $733.4 million Wednesday, according to data from CoinGlass. That's more than double the outflow seen the day prior, underpinning today's slide in bitcoin prices. It's also the second-largest outflow seen in bitcoin ETFs this year, says Khaled Guerbouz of the Arbeat Group in a note. "Investor sentiment has deteriorated alongside the macro environment," says Guerbouz. BTC is down 3.1% to $72,834, according to LSEG. (kirk.maltais@wsj.com)
1035 ET - Bitcoin is down more than 3%, bringing it to under $73,000 for the first time in over a month, according to data from CoinMarketCap. Spurring the sell-off is this morning's April PCE report, which showed inflation rising to 3.8% year-over-year. Indications of higher inflation, and potential future rate hikes from the Federal Reserve, are making cryptocurrency less appealing to investors. This is being reflected in long positions in bitcoin, with $322.5 million in longs being liquidated in the past 24 hours, according to CoinGlass. More than half of that has occurred in the past 12 hours. Other major cryptocurrencies are lower as well, with bitcoin cash sinking 13.7% to $296.26 while solana falls 4.4% to $80.08 and ethereum is down 4.4% to $1,973. (kirk.maltais@wsj.com)
1026 ET - Bank of Canada officials say a range of risks related to artificial intelligence "are intensifying and require close monitoring." In its annual financial-stability report, BOC cites share-price drops among software companies, driven by worries about AI disruption, and the subsequent stress in private-credit markets. AI may also increase cyber security risks across the financial system by making it easier for software vulnerabilities to be identified and exploited, the BOC report says. And circling back to the stock market, BOC warns of a sharp repricing of AI-related stocks and corporate debt--used to finance the building of data centers--in the event of an earnings disappointment. (paul.vieira@wsj.com; @paulvieira)
1004 ET - ATS is seeing demand momentum cooling, moderating revenue growth. TD Cowen's Cherilyn Radbourne says F4Q Ebitda came in slightly ahead of expectations, but bookings were a slight miss and book-to-bill ratio declined. Meanwhile, backlog fell 9% from a year earlier. "ATS' outlook for modest revenue growth in F2027 is a little disappointing, but it expects 50bps-75bps of F2027 margin improvement, supported by a transportation restructuring," Radbourne says. ATS is re-positioning its transportation business towards niche applications outside largescale automotive, according to the analyst. The reorganization in transportation is also expected to remove C$50mm of dilutive revenue, she says. (adriano.marchese@wsj.com)
0824 ET - Uber's aggressive stake-building in Delivery Hero suggests it is moving toward an eventual consolidation, Stifel analyst Clement Genelot writes. The U.S. ride-hailing company now holds 36.83% of Delivery Hero's voting rights. It isn't clear why Delivery Hero's third largest shareholder, Hong Kong-based Aspex Master Fund, sold its stake to Uber, Genelot says. "We do not view this divestment as a sign of Aspex losing conviction in a potential takeover. Rather, Uber's persistent buying suggests the opposite," Genelot adds. Delivery Hero's shares are down 3.6% at 37.92 euros.(adam.whittaker@wsj.com)
0607 ET - Infineon Technologies should outperform its analog semiconductor peers because of its strong exposure to artificial intelligence, Deutsche Bank's Johannes Schaller writes after meeting members of the German company's investor relations team. Infineon shares should reach a price-to-earnings ratio of 35 times--above a sector average of 30 times--due to its exposure and the potential for wider margins that comes with it, the analyst writes. In addition, Infineon's foundational automotive business is also showing strong growth. The company's share of the automotive semiconductor market should expand, the analyst says. Infineon shares gain 2.1%. (josephmichael.stonor@wsj.com)
0522 ET - China's AI boom may boost productivity but Nomura cautions against overstating its positive impact, Chief China economist Ting Lu says. He notes that rising AI investment may provide a lift to growth and stocks, though China's reliance on imported advanced chips means part of the gains will flow overseas. Lu also warns AI-driven growth could widen inequality, exacerbating income and wealth gaps while leaving legacy cities behind as AI industries cluster in major tech hubs. Nomura says Beijing may still need to intensify property-sector clean up efforts and accelerate fiscal reforms to support weaker regions. (jason.chau@wsj.com)
0511 ET - GoTo Gojek Tokopedia could face some slowdown in earnings growth due to regulatory changes in Indonesia, Maybank analyst Etta Rusdiana Putra writes in a note. The government plans to reduce the amount of commission that ride-hailing companies can collect, but there is limited visibility on the details of the policy, Putra says. The margin squeeze from the new policy, which could impact short-term operations, is likely to slow down GoTo's path toward profitability, Putra adds. The competitive landscape with Shopee and Grab is also intensifying, Putra adds. Maybank retains a buy rating on the stock but cuts its target price to 80 rupiah from 120 rupiah. The Indonesia market is closed Thursday for a holiday. (kimberley.kao@wsj.com)
0509 ET - Marvell Technology's custom chip division drive a more positive outlook for its fiscal 2028 performance, Jefferies' Blayne Curtis writes. The semiconductor company reported fiscal first-quarter earnings after market close Wednesday. Revenue came in above market expectations, though profits fell on year. Forecasts for chip sales are a major source of positivity, the analyst writes. Marvell management said it won new custom chip contracts, which Curtis suspects might include a new deal with Google. The company's switching segment--which provides the switches that route data across data centers--is on a credible path to notching revenue over $1 billion in fiscal 2028, he says. Question marks remain about the durability of Marvell's Microsoft partnership, the analyst says. Marvell Technology shares slip 2.9% premarket.(josephmichael.stonor@wsj.com)
(END) Dow Jones Newswires
May 28, 2026 12:20 ET (16:20 GMT)
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