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.

1247 ET - ON Semiconductor's 1Q sales to the industrial market were more favorable than expected, falling 4% sequentially, Chief Financial Officer Thad Trent says on a call with analysts. The industrial sector is showing signs of recovery, Trent says, although some pockets are still down. "There is uncertainty given the tariff situation, but there's some early signs of stabilization, which gives us hope," Trent says. (katherine.hamilton@wsj.com)

1245 ET - ON Semiconductor says it doesn't see a direct impact from tariffs at the moment, but remains cautious about its exposure to the automotive industry. Automotive and industrial sales accounted for 80% of ON Semiconductor's 1Q revenue, and automotive revenue decreased 26%. Chief Executive Hassane El-Khoury says on a call with analysts that the company has particular exposure to the EV market, adding that EV demand outside of China has not seen a recovery. When asked about headwinds from auto tariffs, El-Khoury says, "There could be indirect impact, but that is a time-based question, which I don't have an answer to. The best thing I can give you is our cautiousness in the guide and our outlook." (katherine.hamilton@wsj.com)

1018 ET - President Trump's proposed 100% tariff on overseas movie production would be a devastating attack on the U.S. entertainment industry, Benchmark analyst Matthew Harrigan says in a research note. Trump's suggestion "injects further noise into sentiment for essentially every entertainment stock," the analyst says. But, Harrigan is skeptical that a 100% tariff or any tariff will be implemented. He says a more rational approach to address the harms that production offshoring inflicts on blue-collar entertainment industry employees would be to institute a federal tax incentive to retain production within the U.S. (dean.seal@wsj.com)

0922 ET - President Trump's planned 100% tariff on films produced overseas throws a potential sale of ITV Studios into doubt, AlphaValue's Alexandre Desprez says in a research note. The British broadcaster could be hit hard by the plan given that the tariff could heavily hurt its studios arm--which represents more than half of sales for the group--and impede a sale, the analyst says. The prospect of a sale of ITV Studios was the main driver of ITV's shares lately, he adds. "We advise shareholders to take their profits as the mere uncertainty induced by these potential tariffs will impact the Studios business in the short term."(adria.calatayud@wsj.com)

0655 ET - Europe can create the technologies it needs to advance toward its autonomy in strategic sectors, Telefonica Chief Executive Officer Marc Murtra says. But telecommunication companies must be able to consolidate, starting with the national level, Murtra says at the annual meeting of business group Cercle d'Economia in Barcelona. Strategic decisions don't only yield advantages, but the aggregate would be positive for the creation of technology and know-how, Murtra says. European operators must learn from China, which is preparing fast for the advent of artificial intelligence, but adapting these lessons to respect the European values, including fair competition, Murtra adds. (cristina.gallardo@wsj.com)

0329 ET - UBS Global Wealth Management cuts its forecast for 2025 earnings growth forecast for global tech companies to 12% from 16% due to a likely negative impact of tariffs and elevated macro uncertainty, CIO Mark Haefele says in a note. "We expect some margin headwinds from accelerating supply chain relocations as well as higher depreciation expenses from ongoing AI capex," he says. He notes that Apple has warned tariffs could add about $900 million in costs this quarter. However, recent earnings from tech companies were better than expected and highlighted the resilient growth profile of global tech. (jessica.fleetham@wsj.com)

2254 ET - Some Singapore sectors are likely to enjoy healthy earnings growth despite the ongoing trade war, namely real-estate agencies, construction, capital markets and power businesses, Phillip Securities Research's Paul Chew says in a commentary. Such sectors can outperform in a muted economic environment with attractive dividend yields, the head of research says. Also, returning more capital has supported the performance of government-linked companies, including Singtel, Sembcorp Industries, DBS and Keppel, Chew says. The brokerage remains positive on banks, Chew adds. (ronnie.harui@wsj.com)

2159 ET - China's online gaming sector is a defensive play due to healthy growth and its limited exposure to geopolitical tensions, Citi analysts Nelson Cheung and Alicia Yap say in a research note. China's 1Q online gaming revenue reached 85.7 billion yuan, up 18% on year, driven by growth in both mobile and PC game markets, incremental contribution from cross-platform titles and key evergreen titles, the analysts say, citing data from research agency CNG. Overseas revenue from Chinese-developed games rose 17.9% on year to $4.8 billion in 1Q, they note. The gaming sector benefits from domestic and overseas growth of evergreen titles and solid new game launches with strong cash generation, they say. Citi reiterates Kingnet Network as its top A-share pick in the sector. (sherry.qin@wsj.com)

(END) Dow Jones Newswires

May 05, 2025 16:50 ET (20:50 GMT)

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