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.

1149 ET - Kraken Robotics posted a disappointing 1Q when the industry and its peers are soaring. ATB Cormark's Nicholas Boychuk notes that revenue for products and services were nearly 40% below already low expectations due to "timing-related revenue slippage in both product and service segments." While management insists the weakness is temporary, Boychuk says the explanation "doesn't align with the momentum and industry activity," observed at CANSEC, a Canadian defense and security trade show. The analyst also points to rising competitive pressure, with one rival now selling sonar systems independently and customers questioning the "cost of synthetic aperture sonar relative to the rapidly falling costs of autonomous vessels." With the soft start in 1Q, Boychuk says the setup "puts significant pressure on the back half of the year." (adriano.marchese@wsj.com)

1023 ET - Dell just turned in one of the most impressive quarters that Morgan Stanley analysts say they've ever seen in the hardware sector. The analysts have put their prior underweight rating on the stock, as well as their $170 price target, under review. "We got this one wrong," the analysts say in a research note. It's clear now that Dell is seeing unprecedented demand across all of its segments despite broad component cost inflation, speaking both to the strength of the market as well as Dell's own execution and share gains, the analysts say. Shares jump 31% to $414.15, an all-time high. (dean.seal@wsj.com)

1009 ET - Dell is forecasting that sales will be $10 billion lower in the second half of the year compared with the first due to constrained supply visibility rather than demand, JPMorgan analysts say in a research note. They see a world where supply visibility improves, which Dell has shown is possible given its strong track record of leveraging its scale to deliver ahead of competitors. The demand side of things doesn't look debatable at this point, the analysts say. The company has a robust pipeline and backlog across the board, which gives confidence that the pull-forward of demand won't be a major issue this year, they say. Shares rise 32% to $419.27. (dean.seal@wsj.com)

0824 ET - The current credit environment is favourable for investors seeking yield and enhanced income potential, J.P. Morgan Asset Management's Andreas Michalitsianos says in a note. "Corporate fundamentals remain solid and resilient, while mega-trends in technology, the global dominance of U.S. energy and increased investment in defense are all contributing to strong forward earnings," the head of global credit says. Even lagging sectors, such as autos, are stabilising, he says. Although credit spreads remain close to all-time tight levels, credit markets should stay supported by a strong profitability outlook, low default rates and robust demand from investors. These factors offset uncertainties caused by U.S. tariffs and the Iran conflict, he says. (emese.bartha@wsj.com)

0821 ET - Shopify's agentic AI is helping it gain traction among mid-sized businesses. Morgan Stanley analysts say recent survey results "continue to highlight Shopify's myriad share gain and broader monetization tailwinds, further bolstered by strong AI positioning." According to the report, Shopify is pushing deeper in mid-sized businesses compared with small merchants, "reinforcing the up-market and unified commerce narrative." The breadth of its product suite are also helping, with Shopify Payments users now averaging four Shopify services, up from about three last year. The survey shows Shopify gaining traction beyond its core retail base, and merchants view it as a clear AI beneficiary, with strong intent to adopt AI-enabled workflows over the next 2-3 years. (adriano.marchese@wsj.com)

0459 ET - Okta's products for AI agents are showing signs of strong early momentum, Berenberg's Rahul Chopra writes in a note. The two new products for AI agents mean the company is well-placed "to capture the growing addressable market in securing AI agents," the analyst writes. The software company beat profit estimates for the first quarter, and after market close Thursday lifted its forecast for the year in earnings posted. Okta's digital-security framework has an advantage over peers' because of its centralized platform, which will help the company gather market share, the analyst writes. Shares jump 8.5% in premarket trade. (josephmichael.stonor@wsj.com)

0441 ET - Dell Technologies is in the early stages of an AI infrastructure supercycle, Wellington Altus strategist James Thorn writes in a post on social media site X. Markets are viewing Dell as a traditional hardware company instead of an AI-enabling stock at the center of a booming compute economy, Thorn says. Dell shares surge in after-hours trade after its first-quarter earnings showed an 88% jump in revenue as sales of AI-optimized servers soared. The company has further to grow, Thorn says. "If orders continue to lead revenue, as they are now, then we are not late in the cycle. We are still climbing the demand curve," the strategist writes. Dell shares soar 40% premarket. Related computing stocks also gain, with Hewlett Packard jumping 18% premarket. (josephmichael.stonor@wsj.com)

0311 ET - Temu owner PDD is likely to experience margin pressure from its first-party investments and a lower take rate at its e-commerce platform Pinduoduo, Morningstar's Chelsey Tam says in a note. The company is committing around 100 billion yuan to its first-party brand business over the next three years, but this investment isn't likely to generate near-term returns, she notes. She cuts her earnings before interest and taxes forecasts by 32%-39% for 2026-2028. Strict e-commerce tax collection will likely further reduce the spending power of Pinduoduo's large base of smaller merchants, she adds. Morningstar cuts its fair-value estimate by 8% to $141. ADRs close 4.1% lower at $83.03. (megan.cheah@wsj.com)

2246 ET - Kuaishou's investment case still rests on its core short-video advertising cash engine, Morningstar analyst Ivan Su says in a research note, even though its AI video tool Kling is monetizing faster than expected. While Kling's annualized run rate already exceeds Morningstar's expectation, its thin gross margin, likely around 5%, and unproven user retention make Morningstar unsure about its long-term shareholder value. Across Kuaishou's three core profit engines, advertising remains the strongest driver, he notes. "We share the market's view that near-term profitability is under pressure, but still see a path for earnings recovery driven by the core short-video business, its cash cow," Su says. Shares are 0.8% lower at HK$44.50.(sherry.qin@wsj.com)

1841 ET - MongoDB's established customers in industries like financial services, technology and media are still driving the bulk of its growth, but the company's AI business is picking up steam, the company says on its earnings call. "Smaller but accelerating growth drivers included early AI deployments with many of these same enterprise customers, and momentum with frontier labs and AI-native companies," Chief Financial Officer Michael Berry says. Companies are moving agentic AI applications into production "and choosing MongoDB as the data platform to power them," Chief Executive Chirantan Desai says. Shares up 1.9% to $332 in trading after hours. (nicholas.miller@wsj.com)

1831 ET - Dell Technologies says customers are looking to upgrade their technology to keep up with artificial intelligence, which is yielding more business for the company. Customers are upgrading their edge and infrastructure and looking for more capable PCs to make way for agentic workloads, Chief Operating Officer Jeff Clarke says. Customers are also looking to consolidate space, power and cooling to drive efficiency with AI. Dell's servers are a popular choice because they can perform a 13-to-1 consolidation, says Clarke. Shares climb 35%. (katherine.hamilton@wsj.com)

Dell Technologies says the shortage of memory supply is helping drive customer demand. "During these times of supply disruption and a lot of puts and takes in the marketplace, customers tend to come to Dell to look for a calming hand," Chief Operating Officer Jeff Clarke tells analysts. That dynamic is driving demand in Dell's businesses across PCs, servers and storage, Clarke says. Uncertainty about memory supply and pricing is driving customers to buy now so they have capacity secured, he says. As a result, the company expects to exit the year with a meaningful backlog, he says. Shares rise 37% after hours. (katherine.hamilton@wsj.com)

(END) Dow Jones Newswires

May 29, 2026 12:20 ET (16:20 GMT)

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