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.

1019 ET - BE Semiconductor Industries is expected to report roughly unchanged revenue and a lower gross margin for the first quarter compared with the year-earlier period, according to consensus estimates provided by Visible Alpha. The Dutch supplier of equipment to the semiconductor industry--also known as Besi--is due to report first-quarter earnings on Wednesday and analysts forecast its revenue at 146.5 million euros, according to the Visible Alpha consensus, based on estimates by 13 analysts. This compares with the 146.3 million euros the company reported for the first quarter of 2024. Analysts expect Besi's gross margin at 64%, which compares with the 67.2% margin it reported a year ago, according to the same consensus. Shares fall 0.5%. (adria.calatayud@wsj.com)

0858 ET - Verizon's consumer-side wireless unit is losing customers, and this is keeping investors on the sidelines. Scotiabank's Maher Yaghi notes in a report that retail postpaid phone net losses were 289,000, made up of 356,000 fewer consumer subs, but offset slightly by 67,000 growth in business subs. This is more than the decline of 114,000 a year ago, and Scotiabank's estimate of a 200,000 decline. Yaghi says the weaker results came from a combination of lower gross loading and higher churn. He says investors will likely stay on the sideline until the company shows a "material and sustainable improvement" in wireless post paid consumer subscriber growth. Shares are down 4.9% in premarket trading. (adriano.marchese@wsj.com)

0528 ET - U.S.-China trade talks are likely occurring despite tit-for-tat retaliatory tariffs imposed earlier this month between the two, says Mark Matthews, head of research Asia at Julius Baer. Looking further ahead, "if and when tariff news fades or becomes positive, the Chinese market can revert to the stories being discussed before the tariff news exploded," Matthews says. Those include China's advanced technologies, such as EVs and cloud service providers, as well as the reconciliation between the central government and the tech sector, he notes. Chinese equities remain undervalued and Julius Baer reiterate its overweight stance on the Chinese equity market. (tracy.qu@wsj.com)

0400 ET - MFE-MediaForEurope could be exposed to the potential effects of U.S. tariffs on advertising spend, Deutsche bank analyst Nizla Naizer writes in a note. "These are uncertain times from a macro perspective, and the second order effects of Trump's tariffs on advertising spend is still to be seen," Naizer says. Additionally, the Netherlands-based media broadcasting group is in the middle of a voluntary takeover offer for German broadcaster ProSiebenSat.1--in which it holds a 30% stake--while the German market has also its set of challenges, the analyst says. The German bank reinstates MFE coverage with hold rating on the stock and a target price of 4.50 euros. Shares are down 2.4% at 4.18 euros. (najat.kantouar@wsj.com)

0350 ET - MFE-MediaForEurope's strategy has allowed the group to outperform its peers over the past two years in Italy, Deutsche Bank analyst Nizla Naizer writes in a note. "MFE has one of the better-articulated strategies of combining multiple digital media with traditional TV advertising to present a compelling offering to its Italian clients," Naizer says. Additionally, the Netherlands-based media broadcasting group's Spanish subsidiary has improved group profitability, cash flow and financial strength, the analyst adds. The German bank reinstates MFE stock coverage with hold and a target price at 4.50 euros. Shares are down 2.4% at 4.18 euros. (najat.kantouar@wsj.com)

2400 ET - Citi lowers earnings forecasts for Apple's Chinese suppliers on expectations for lower iPhone shipments. Citi expects global iPhone shipments to decline 1% in 2025 to 226 million due to the anticipated slowdown in the world economy, before recovering slightly to 232 million in 2026. It has yet to factor in the possibility that Apple might raise iPhone retail prices to pass tariff costs on to consumers. Although suppliers would not pay tariffs themselves or accept price cuts to share the tariff cost burden, the analysts still think their profitability will be hit. Lower Apple product shipments will weigh on utilization rates, and tariff shifts could cause production disruption, they say. Citi lowers 2025 net profit estimates for AAC Technologies, BYD Electronic and Cowell e Holdings by 14%, 14% and 10%, respectively. (sherry.qin@wsj.com)

2350 ET - Hana Microelectronics faces rising worries over U.S. tariffs and continued losses at its silicon carbide business via its subsidiary in South Korea, Maybank Securities (Thailand)'s Yugi Takeshima says in a research report. Prices of electronic products in the U.S. will probably increase owing to expected tariffs and will likely affect the Thailand electronics manufacturing service company regardless of any tariff exemptions, the analyst says. The company's Korean subsidiary Power Master Semiconductor is also expected to continue to be loss-making this year, the analyst adds. The brokerage downgrades the stock's rating to hold from buy and lowers its target price to THB17.00 from THB52.22. Shares are 1.1% lower at THB17.80. (ronnie.harui@wsj.com)

2113 ET - Inari Amertron's recent share price weakness may have priced in most tariff-related risks, say Hong Leong IB analysts in a note. However, the stock may remain sluggish in the near term as the earnings downgrade cycle is still in its early stages, pending clarity on U.S. tariffs on semiconductors and electronics, they say. Higher-than-expected tariffs could dampen smartphone demand and pose further downside risk, they reckon. A recovery may follow once earnings stabilize and market focus shifts to Inari's strong fundamentals, including its MYR2.2 billion net cash, they add. Hong Leong raises Inari's rating to buy from hold but cuts target price to MYR2.10 from MYR2.77. Shares are 1.2% lower at MYR1.69. (yingxian.wong@wsj.com)

(END) Dow Jones Newswires

April 22, 2025 12:20 ET (16:20 GMT)

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