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.
1536 ET - The strength of semiconductor stocks during the second quarter may make it challenging for companies to impress the market with their second quarter financial results, Goldman Sachs analysts say in a note. "We see upside to estimates across most sub-sectors of the semiconductor ecosystem heading into 2Q earnings," the analysts write. "But following dramatic outperformance for the sector in 2Q (SOX up 88% vs. SPX up 14%), we see a more challenging trading setup ahead of earnings." Still, the analysts see upside for companies that serve artificial-intelligence hyperscalers, the industrial and defense sectors, and memory technology manufacturers. (elias.schisgall@wsj.com)
Formula 1's next phase of growth will likely come from further monetizing its races, rather than adding more of them, TD Cowen analysts say in a note after meeting with executives from F1 and its parent company, Liberty Media. F1 sees consumer products and licensing as a big long-term opportunity, with plans to move toward broader brand partnerships, the analysts say. F1 is also working to have a more sophisticated hospitality model, focusing on product segmentation, premium experiences, dynamic pricing and higher utilization of its existing assets, the analysts say. Management also sees opportunities to drive higher spend per guests through differentiated offerings at key races and year-round venues such as Las Vegas, they say.
(kelly.cloonan@wsj.com)
1259 ET - Microsoft's job cuts didn't ease investors' concerns about the tech giant's spending on AI, AJ Bell's Danni Hewson writes in a note. Microsoft is set to cut more than 3,000 jobs in its Xbox videogames division as part of a turnaround plan for the struggling business. "Markets are waiting to see solid financial evidence that all that capex is paying off and that the faith in AI as a growth supercharger has been warranted." Microsoft's share price fall reflects either investors' concerns about AI spending or the possibility that the job cuts have already been priced into the stock, she adds. Shares are down 1.5% at $384.74. (najat.kantouar@wsj.com)
1159 ET - The value of Maple Leafs Sports & Entertainment based on Rogers Communications' acquisition of Kilmer Sports' stake is now C$17.4 billion, says National Bank of Canada's Adam Shine. He says in a report that the price was above other assessments, where "Forbes aggregated to C$15 billion, while the figure was C$14.5 billion per Sportico." That's also a big step from when Rogers bought BCE's 37.5% MLSE stake, where the implied value was C$12.5 billion. "That's a +39% jump in less than two years," Shine says. But it isn't clear why the price came in higher than expected. Shine says the higher price could have been used to expedite the deal with Kilmer Sports, or perhaps recent Canadian-dollar depreciation, but it is still unclear. (adriano.marchese@wsj.com)
1128 ET - Rogers Communications bought out Larry Tanenbaum's MLSE share sooner than expected. TD Cowen's Vince Valentini says the price of C$4.35 billion is a premium, likely "in return for Rogers getting a deal done quickly." The expedience could be a positive. Valentini says any delay to purchase Tanenbaum's Kilmer Sports' stake "could have delayed the important deleveraging event of selling a minority interest in sports and media to new private investors." Next on the docket for Rogers is likely going to be to formalize negotiations with new potential private investors in the full sports-and-media entity, for an estimated "C$6.5 billion in proceeds (25-30% stake), so that the net of the two transactions should be debt reduction of about C$2.1 billion." (adriano.marchese@wsj.com)
1104 ET - Major cryptocurrencies got a boost over the weekend, but again find themselves under pressure today. Bitcoin is struggling to cross back over the $62k mark, and other major cryptocurrencies are flagging as well. Bitcoin falls 1.3%, ethereum is down 1.6%, XRP slides 1.6%, and solana is off 1.1%. Another notable drop is being seen in cardano, which is down 4.7%. Cryptocurrencies are responding to news of Strategy Inc.'s fresh sales of bitcoin, which seem to be informing the sentiment of the wider cryptocurrency space. (kirk.maltais@wsj.com)
1053 ET - Investors are not surprised about Strategy Inc. confirming fresh sales from its bitcoin treasury, but the news may be having a psychological effect on how traders approach the market. "Each actual sale weakens the 'never sell' perception around the BTC treasury model and brings capital structure pressure back into focus," says Lacie Zhang of Bitget. "So today's reaction is probably less about the size of the sale itself, and more about the narrative discount that comes from making those sales real." Zhang adds that while the hit to sentiment is spurring bitcoin selling, there are other signs of prices rebounding longer-term. Bitcoin is down 1.1% to just above $62,000, according to data from LSEG. (kirk.maltais@wsj.com)
1025 ET - Bitcoin ETFs entered the holiday weekend on a positive note, according to data from CoinGlass. They posted a net inflow of $223.5 million on July 2, the first such inflow for these ETFs since June 12. Bitcoin had a mostly-positive holiday weekend, rising to as high as nearly $64,000, according to CoinGlass data, but is trading below $62,000 this morning. Part of the pressure is coming from sales of BTC by Michael Saylor's Strategy Inc.--although the market did have some advanced warning. "The market's reaction may be more muted than in the past following the company's recently introduced policy," says Christopher Tahir of Exness in a note. (kirk.maltais@wsj.com)
1015 ET - Despite Bitcoin climbing as high as $64,000 over the holiday weekend, prices are down 1.8% to $61,593 this morning in response to two sales by Strategy Inc. The firm sold a total of 3,588 BTC on two occasions--one last week and one confirmed this morning. The sales brought in roughly $215 million, but Strategy's stockpile remains enormous, at 843,775 BTC with an average price of $75,476. Strategy remains underwater on its bitcoin holdings by roughly $11.8 billion. (kirk.maltais@wsj.com)
0808 ET - ITV is unlikely to disappear from the public market altogether, ITV Chief Executive Carolyn McCall says in a media call. Comcast's Sky has agreed to buy ITV's media-and-entertainment unit for up to$2.14 billion. Under the agreement, ITV Studios will be separated and listed in London. McCall says shareholders are supportive of ITV Studios becoming a listed independent business. The deal also allows the studios division to emerge as an independent global content player, unlocking value, she adds. Some media have reported that ITV Studios could be a takeover target. ITV shares are up 1.5% at 83 pence. (najat.kantouar@wsj.com)
0803 ET - Comcast's Sky deal with ITV might lead to some job duplications, ITV Chief Executive Carolyn McCall says in a call. Any job cuts would mainly affect overlapping areas such as marketing departments, technology platforms, and non-U.K. content, she says. "I think no one ever gets any guarantees on anything in terms of jobs but I think there are as many opportunities with Sky." However, potential changes will take time as the deal is set to undergo a lengthy regulatory process, she says. "They've made it very clear that actually these savings will happen at the end of three years," she says. ITV shares are up 1.7% at 83.15 pence. (najat.kantouar@wsj.com)
0716 ET - Comcast's Sky deal with ITV will likely face a lengthy regulatory process, ITV Chief Executive Carolyn McCall says on a call. "I think it will be a very thorough and very comprehensive regulatory review," she says. Sky has agreed to buy ITV's media-and-entertainment unit for up to about $2.14 billion. While ITV will cooperate with all relevant regulatory authorities, the company doesn't expect the review to be carried out quickly, she says. "We know it is likely to go to phase two and there will be a public interest test as well. So, we are under no illusion it will be a thorough review," she adds. ITV shares are up 1.6% at 83.05 pence. ( najat.kantouar@wsj.com)
(END) Dow Jones Newswires
July 06, 2026 16:50 ET (20:50 GMT)
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