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.

1155 ET - Home Depot's winning bid for building-products distributor GMS is the next step in its strategy to consolidate pro distribution, Truist Securities' Keith Hughes says in a research note. Home Depot will buy GMS for about $4.3 billion, beating out roofing-products distributor QXO. Hughes notes that SRS, which Home Depot acquired in June 2024, is mainly a pro distributor of roofing, landscape and pool supply products. GMS, meanwhile, distributes about 40% wallboard, 14% ceilings, 14% steel framing and 32% complementary products, with roughly 60% of its sales to the commercial end market. "We believe GMS has limited product and contractor overlap with SRS, but at their core, both provide service to customers," adds the analyst. GMS shares rise 12% to $108.79, nearing the $110 a share acquisition offer. (denny.jacob@wsj.com; @pennedbyden)

1054 ET - The U.S. economy is likely to slow in coming quarters amid high policy uncertainty, but corporations "are going to be able to weather this uncertainty very well," Morgan Stanley's Vishal Khanduja says. He is optimistic about corporate debt, saying U.S. companies have healthy balance sheets. That means investors can pick up extra yield without adding so much risk. He is overweight corporate and securitized credit and has also added non-dollar positions. Khanduja likes bonds backed by non-agency mortgages, data centers and marquee hotels. "We are overweight financials versus non-financials and we have a slight preference for European financials versus U.S. financials," he says. (paulo.trevisani@wsj.com; @ptrevisani)

1026 ET - Chime Financial has plenty of room to grow market share and an ongoing ability to deepen its customer relationships, Seaport analysts say in a research note. These factors should drive ongoing improvements in financial performance over the coming years, thy say. Chime, which offers banking services through its smartphone app and had its IPO earlier this month, can likely grow revenue in the high-20%-to-low-30% range annually over the next two years. "We also see an opportunity for the company to improve on margins/profitability as it scales further," the analysts write. Seaport initiates coverage of Chime with a buy rating and a price target of $37. Chime climbs 5.4% to $34.91. (connor.hart@wsj.com)

1012 ET - Oracle's revenue should be able to grow meaningfully faster than its operating expenses in the coming years, Stifel analysts say in a research note. Oracle's management team is extremely adept at managing expenses as higher capital spending weighs on near-term gross margin, the analysts say. The company is also putting a greater emphasis on physical infrastructure, rather than people, to generate new business, they say. InFY25, headcount only grew 2% and total operating expenses expanded by 5%, while total revenue climbed 8%, the analysts say. They upgrade the stock to buy from hold and raise the target price to $250 from $180. Oracle jumps 5% to $220.98. (dean.seal@wsj.com)

0737 ET - Jefferies analysts had been concerned that Disney would struggle to grow its Experiences business this year as inflation-weary consumers pulled back spending and competitor Universal stole theme-park share with Epic Universe, its all-new park in Central Florida. However, Epic's opening has brought more travelers to Orlando, providing a boost to Disney's theme parks, the analysts say in a research note. Disney also has two new cruise ships set to launch early next year, which should further boost earnings. Disney is continuing to improve its margins in its direct-to-consumer business as well, the analysts say, adding that the company also has a strong slate of content set for release before the end of the year. Jefferies upgrades Disney to buy from hold and raises its price target to $144 from $100. Disney rises 2% premarket to $124.81. (connor.hart@wsj.com)

0304 ET - Li Auto's sales volume weakness in late 2Q 2025 was likely due to the central government's crackdown on the auto industry, Daiwa analysts write in a note. The suspension of trade-ins due to a shortfall in subsidies and the huge interest in Xiaomi's new Yu7 model have also pressured sales, they say. Although Li Auto and Xiaomi shouldn't be viewed as direct competitors as their targeted customer groups were quite different, the recent blockbuster release of the Yu7 model may hurt Li Auto's near-term demand. Li Auto's success still lies in its competitive pricing and the availability of its supercharging facilities, they say. The company may face some short-term price pressure given Yu7's popularity and suspension of trade-in subsidies in some regions, Daiwa adds.(jiahui.huang@wsj.com; @ivy_jiahuihuang)

0258 ET - The Nikkei Stock Average rose 0.8% to close at 40487.39, its highest level since July 17, 2024, tracking Wall Street's gains on Friday. There appear to be three key drivers behind the recent momentum stock rally in Japan, two strategists at BofA Global Research say in a research report. These include structural catalysts, especially expanding artificial-intelligence adoption, the strategists add. Best performers on Japan's benchmark index included Olympus, which climbed 5.6%, Zensho Holdings, which rose 5.3%, and SoftBank Group, which added 4.3%. USD/JPY was at 143.95, compared with 144.66 in late New York trading on Friday. JGB 10-year yield was unchanged at 1.430%. (ronnie.harui@wsj.com)

2259 ET - BEC World is likely still profitable despite the downcycle of Thailand's TV industry, Thanachart Securities' Rata Limsuthiwanpoom says in a research report. The brokerage raises its 2025-2027 earnings forecasts for the media conglomerate by 51%-110% from a very low base to reflect BEC World's business restructuring, improving events, and artist management business. It upgrades the stock's rating to buy from sell following the recent sharp share-price correction that brought the company near breakup value of THB1.90 a share. However, BEC World's longer-term TV outlook appears more bearish, says the brokerage, which lowers the target price to THB2.50 from THB2.90. Shares last closed at THB1.79. (ronnie.harui@wsj.com)

2135 ET - Aussie Broadband lures a new bull at Macquarie, with the internet provider seen benefiting from industry tailwinds and cross-sell potential. The investment bank initiates coverage of the stock with an outperform rating. Macquarie analysts tell clients in a note that the company's skew toward higher-speed tiers bodes well given the prospect of residential users' churn toward such services. Growth into mobile raises the prospect of cross-selling opportunities, they add. The analysts reckon that Aussie Broadband's balance sheet can also support further acquisitions and capital returns. Macquarie puts a A$5.05 target price on the stock, which is up 0.5% at A$3.93. (stuart.condie@wsj.com)

(END) Dow Jones Newswires

June 30, 2025 12:20 ET (16:20 GMT)

Copyright (c) 2025 Dow Jones & Company, Inc.