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.
1219 ET - Delivery Hero shares rose nearly 6% following a report of advanced talks with Uber over the acquisition of the German food-delivery company. According to Bloomberg, the U.S. giant intends to strike a deal with Delivery Hero as soon as this week. The transaction could value the German group well above its recent share price of around 36 euros per share, Bloomberg says, citing unnamed sources. Delivery Hero shares are up 5.8% at 39.10 euros. (najat.kantouar@wsj.com)
0732 ET - Ericsson's outlook comments will probably prompt low-single-digit percentage downgrades to 2026 EPS estimates, UBS analyst Francois-Xavier Bouvignies writes. Consensus 2027 estimates will also likely fall, by a low- to mid-single-digit percentage, he adds. The company posted second-quarter revenue that was 2% below consensus and guided to a networks gross margin of 48%-50% versus consensus at 50%. Ericsson also highlighted increasing component cost inflation heading into the coming quarters, which UBS believes could place additional pressure on gross margins from the fourth quarter onward. "With the stock up 25% year-to-date, we believe the combination of slowing revenue growth, lower gross margins, and increasing component cost inflation is likely to weigh on sentiment." Shares fall 8.6%. (dominic.chopping@wsj.com)
0524 ET - JD.com's 2Q results is likely to be better than market expectations, according to Nomura analysts in a research note. Nomura expects JD's retail business to report a 5.5% decline in revenue during the quarter, better than market expectations of a 7.5% decline. This is partially supported by JD's supermarket sales, Nomura says. The bank adds that losses from its food delivery business is likely to narrow significantly. Nomura keeps a buy rating and a target price of its ADRs at US$41.00, which last traded at US$28.88. (tracy.qu@wsj.com)
0436 ET - SK Hynix's American depositary receipts look fairly valued given longer-term cyclical risks, Morningstar says in a note. Analyst Jing Jie Yu expects memory-chip makers' earnings trajectories to be "highly unpredictable" and thinks the "tremendous volatility" in both SK Hynix ADRs and Korean stocks will continue. For SK Hynix, unprecedented levels of retail participation and margin taken on its shares are exacerbating the volatility, he adds. "That said, we expect near-term price discovery to continue for SK Hynix's ADRs, given the limited trading history to identify appropriate spreads." Morningstar maintains a $160 fair-value estimate and reiterates its "very high" uncertainty rating. Nasdaq-listed SK Hynix tumbled 9.3% to $152.35 on Monday after surging 13% on its first day of trading. (farah.elias@wsj.com)
0434 ET - Ericsson's second-quarter sales came in below expectations, with the miss coming mainly from networks, Jefferies analyst Janardan Menon writes. "This seems to have been mainly due to the timing of deliveries in India, with guidance for a stronger-than-seasonal Q3 as these deliveries are implemented." Ericsson notched down its networks gross margin guidance to a mid-point of 49%, from 50.4% in the second-quarter, with the headwind being mainly a higher proportion of network roll-out projects. However, steadily rising component prices could have a bigger impact on the fourth-quarter gross margin, depending on the level of success in mitigating actions including price increases, Jefferies says. It is unclear whether network roll-out will remain a headwind in the fourth quarter. Shares fall 7.9%. (dominic.chopping@wsj.com)
0400 ET - China's K-shaped export recovery is contributing to a growing divergence across industries, say Barclays economists in a research note. High-tech sectors, such as semiconductors and electronics, are enjoying expanding profits and stronger pricing power. Meanwhile, traditional industries, including textiles and household consumer goods, face declining profits and persistent price pressures. With strength in headline exports largely concentrated in capital-intensive industries, the positive spillover from exports to the domestic labor market appears limited. "As a result, the export boom is unlikely to translate into a rapid recovery in household income or consumption, which explains the continued softness in domestic demand," Barclays says. (monica.gupta@wsj.com)
0329 ET - Ericsson second-quarter earnings beat expectations, but gross margin guidance will likely weigh on the stock, J.P. Morgan analysts write. Ericsson beat consensus Ebitda expectations by 3.1%, despite a sales miss, on the back of better gross margins in both the key networks and cloud software & services divisions. However, the company is guiding for a gross margin of 49% at the midpoint in networks, which is below consensus expectations of 49.7%, the bank says. Third-quarter earnings are likely to be a mid single digit percentage below consensus, J.P. Morgan adds. "Overall, we expect investors will worry about the component cost impact on margins along with the mix impact i.e. lower U.S. revenue impacting margins into 2H." Shares fall 6.9%. (dominic.chopping@wsj.com)
0257 ET - CJ ENM could be hit by Korea's shrinking broadcasting market, CGS International's Joshua Kim says in a research report. According to the Korea Media and Communications Commission, the country's broadcasting market revenue has contracted for three straight years through 2025. Also, advertising revenue CAGR has declined 13% over 2022-2025, the analyst notes. The trend is expected to continue through 2026 and beyond as high-margin ad spending continues to migrate toward online platforms. The brokerage cuts its 2026 and 2027 EPS forecasts for the entertainment and retail conglomerate by 46% and 30%, respectively. It lowers the stock's rating to hold from add and the target price to 34,000 won from 78,000 won. Shares last closed at 30,150 won. (ronnie.harui@wsj.com)
0257 ET - Ericsson's second quarter was saved by cost cutting, but the outlook appears uninspiring, Bernstein analyst Ulrich Rathe writes. Ericsson missed consensus on revenue and gross profit, but posted a beat on adjusted Ebita due to efficiency measures. The networks unit was soft across the board, with revenue missing guidance as management commented on project delays into the third quarter. The closely watched networks gross margin was guided down by about 1 percentage point for the third quarter, and even with revenue upside from project deferrals, the guidance is unlikely to drive networks Ebita consensus up, the bank adds. "Overall we see little to write home about here." Bernstein rates Ericsson stock at underperform with a 73 Swedish kronor price target. Shares closed at 112.75 kronor. (dominic.chopping@wsj.com)
0209 ET - Victory Giant Technology's shares gain after the company denied negative rumors online and affirmed that demand for its printed circuit board products was strong. Its Shenzhen-listed shares gain 5.2% to 287.28 yuan, while its Hong Kong-listed shares rise 2.1% to 241.60 Hong Kong dollars. The company said at the midday break that it is aware of rumors about its products, market share and project progress and that it "reserves the right to pursue legal action against those responsible for spreading these false statements." Some clients have confirmed their long-term demand for 2027-2028, it added. Victory Giant's earnings are estimated to increase at a 71% compound annual growth rate over 2026-2028, and it could disclose further capacity expansion plans in 2H, Citi analysts write in a recent note. (megan.cheah@wsj.com)
0157 ET - Nan Ya Printed Circuit Board Corp. may benefit from large price hikes, Daiwa Capital Markets analysts say in a research report. Substrates, after memory, are likely to enjoy highest price increases in current cost-inflation environment, and price hikes are just escalating, the analysts note. Daiwa estimates price increases in 2026 of more than 70% for bismaleimide-triazine substrates and more than 50% for Ajinomoto build-up film substrates. Daiwa lifts its 2026-2028 EPS estimates for the Taiwanese manufacturer of integrated circuit substrates and printed circuit boards by 20%-42%. It raises the stock's target price to 2,444.00 Taiwan dollars from NT$1,444.00, with an unchanged buy rating. Shares last 1.6% higher at NT$1,290.00. (ronnie.harui@wsj.com)
0115 ET - It is likely too early to be concerned about a memory cycle peak, HSBC analysts say in a research note. The analysts think the memory supercycle will likely continue as agentic AI improves office productivity and reshapes workflows, just like when PCs became the default office tool. Improving AI service margins continue to underpin strong cloud spending, and hyperscalers are unlikely to slow capacity expansion as they compete for the fast-growing market, they say. The analysts think the HBM price hike will likely continue with forthcoming HBM4 adoption. HSBC prefers SK Hynix among Korean tech names given its higher exposure to HBM, and thinks its market share could be sustained at the 50-55% level when HBM4 is broadly adopted in 2027. (sherry.qin@wsj.com)
(END) Dow Jones Newswires
July 14, 2026 12:20 ET (16:20 GMT)
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