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.

0756 GMT - BT Group delivered a reasonably good performance in its fiscal year, ING's Jan Frederik Slijkerman says. The U.K. telecommunications company posted a rise in pretax profit for fiscal 2026 and slightly higher adjusted Ebitda. It managed to stabilize its adjusted Ebitda despite a challenging environment, he says. "It is also positive that the company includes a firm commitment to BBB+ ratings in its earnings release," he adds. Shares are down 0.5% at 2.30 pounds. ( najat.kantouar@wsj.com)

0722 GMT - Autotrader Group's results for fiscal-year 2026 show difficulties, RBC Capital Markets' Ross Broadfoot says in a note. The London-listed digital-automotive marketplace delivered revenue of 624.3 million pounds for the full year, with 3% growth in 2H and lower still in 4Q, reflecting difficult trading conditions. Operating profit and basic earnings per share came in below expectations. "This is a challenging set of results for the group." The stock trades 2.5% lower at 484.10 pence.(andrea.figueras@wsj.com)

0631 GMT - Singtel's underlying net profit for the fiscal year ended March slightly fell short of market expectations due to the Singapore business, Citi research analysts write in a note. A weaker-than-expected fiscal 4Q was primarily caused by the sustained structural price competition in the city-state's consumer segment, they say. However, the weakness was largely offset by strong execution in other areas. Contributions from regional associates were strong, growing compared to a year earlier, but were still weighed by foreign exchange headwinds due to the relatively strong Singapore dollar compared with regional currencies, they add. Singtel shares fall 6.4% to S$4.70. (kimberley.kao@wsj.com)

0442 GMT - ST Engineering's strong contract win momentum is poised to persist, UOB Kay Hian's Roy Chen says in a research report. Management is actively pursuing US$11 billion worth of international defense contracts and S$6 billion worth of smart mobility projects over next two years, the analyst notes. The technology, defense and engineering group's robust contract win momentum across all segments and its record order book of S$34.5 billion underpin its medium-term growth outlook. The brokerage lifts its 2026-2028 core earnings forecasts for ST Engineering by 1%-7%. It raises the stock's target price to S$11.75 from S$10.86, with an unchanged buy rating.Shares are 0.6% higher at S$11.13. (ronnie.harui@wsj.com)

0328 GMT - Asia's semiconductor exports momentum remains strong, Morgan Stanley analysts say in a note. Continued capital expenditures by big U.S. technology companies have boosted Asia's semiconductor exports, and they now account for 10% of overall regional exports, up from 7% in 2023, the analysts note. South Korea's daily exports data for the first 10 days of May suggest that semiconductor exports momentum has continued in 2Q, the bank says. Meanwhile, 1Q was a breakout period for agentic AI, with many companies moving from experimental pilot programs to full-scale enterprise deployment, they say. That means data centers require denser CPU infrastructure around GPU clusters, further expanding the addressable markets for various chips in the next few years, they add. (sherry.qin@wsj.com)

0209 GMT - Bilibili's videogame segment growth could be sluggish before recovering in 2H, says Deutsche Bank's Leo Chiang in a note. The Chinese video-sharing platform posted mixed 1Q results, with videogame segment revenue declining, he notes. The analyst expects around three videogames to launch in 2H and boost its revenue then, after these games received encouraging feedback during testing in 1H. Still, Deutsche Bank cuts its target price on Bilibili's ADRs to US$36.00 from US$32.00 and on H shares to HK$250.00 from HK$280.00, citing the expected slower near-term growth. The bank maintains a buy rating. ADRs closed 8.5% lower at US$18.30; shares in Hong Kong drop 4.0% to HK$142.80. (megan.cheah@wsj.com)

2227 GMT - Elon Musk's track record of promising big opportunities--and potentially even bigger profits--is still in tact when it comes to SpaceX. "We believe we have identified the largest actionable total addressable market ('TAM') in human history," the company says in its IPO filing. SpaceX estimates a TAM of $28.5 trillion, consisting of $26.5 trillion in AI across AI infrastructure, consumer subscriptions, digital advertising and enterprise applications. The TAM estimate also includes a $370 billion opportunity in space-enabled solutions and $1.6 trillion in connectivity from Starlink broadband and mobile as well as opportunities in enterprise and government, SpaceX says. (kelly.cloonan@wsj.com)

2141 GMT - SpaceX filed to go public in what could be the largest stock market debut ever. The rocket-maker is seeking to raise $80 billion or more, which would make it the largest IPO on record and surpass Saudi Aramco, which raised $26 billion in its 2019 IPO. SpaceX is one of several big, hotly anticipated IPO filings this year, with OpenAI and Anthropic both eyeing offerings. (kelly.cloonan@wsj.com)

2107 GMT - Nvidia is getting more than half of its revenue from three customers. The chipmaker says three direct customers represented 21%, 17% and 16% of total revenue in the quarter. That revenue was primarily attributable to Nvidia's compute and networking segment, which jumped 88% in the quarter. AI hyperscalers, such as Amazon, Google, Meta and Microsoft, are driving the fastest sales growth at Nvidia and made up just under half of total sales in the first quarter. Nvidia says it is diversifying its customers by adding more clients to its AI cloud, industrial and enterprise business, which includes companies that need data centers designed specifically for their needs. (katherine.hamilton@wsj.com)

2050 GMT - Nvidia approved big increases to both its share buyback program and its quarterly dividend for shareholders. The chipmaker says its board approved a quarterly dividend of 25 cents a share, up from 1 cent a share. It also approved an additional share buyback of $80 billion, which has no expiration date. Nvidia says it returned about $20 billion to shareholders in the first quarter through buybacks and dividends. The increases are a signal of management's confidence as Nvidia expects revenue to hit $91 billion in the current quarter, ahead of the $87.29 billion analysts polled by FactSet project. (katherine.hamilton@wsj.com)

2039 GMT - Nvidia's 1Q results show that hyperscalers are continuing to drive the fastest growth in AI demand. Nvidia's revenue from data centers for hyperscalers more than doubled in the quarter to $37.87 billion, marking the biggest jump in sales across the chipmaker's business categories. Data center revenue from AI clouds, industrial and enterprise meanwhile increased 74%, while edge computing sales were up 29%. The overall increase in data center revenue was driven by the ramp of Nvidia's Blackwell 300 products, as well as demand for its InfiniBand Spectrum-X Ethernet and NVLink solutions, Nvidia says. (katherine.hamilton@wsj.com)

2035 GMT - Nvidia is changing its revenue reporting categories to reflect the shifting landscape of AI data centers. The chip company's data center category will now be broken into two main business areas: hyperscale and cloud, industrial and enterprise. Hyperscale will include revenue from the biggest internet companies such as Google and Meta. The second category will include purpose-built data centers and AI factories for specific industries and countries. Hyperscalers have continued to ramp capital expenditure goals for AI, while Nvidia says it thinks the purpose-built data center business has the biggest runway for growth.(katherine.hamilton@wsj.com)

(END) Dow Jones Newswires

May 21, 2026 04:20 ET (08:20 GMT)

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