the most recent market talks about telecom, media, and technology. published at 4:20 ET, 12:20 ET, and 16:50 ET exclusively on Dow Jones Newswires.
1354 ET Travel trends in Orlando, Florida, where Comcast is getting ready to open its new theme park Epic Universe next month, remain steady, according to Comcast President Mike Cavanagh. On a teleconference with analysts, he states, “Although I see the same headlines you’re seeing about airlines and the like, some of that might be outside of our booking windows.” The business reports that sales of advance tickets are exceeding projections. According to Cavanagh, “at the moment, we see continued steadiness in the backdrop for parks.” Following the company’s announcement that it continued to lose broadband users in the first quarter, shares fell 4%. (connor.hart@wsj.com)
07:30 ET According to a note from JPMorgan analysts, Nokia’s contract renewal with T-Mobile US is excellent news for the Finnish telecom equipment manufacturer, but it is overshadowed by lower-than-expected first-quarter earnings. Investors should welcome the T-Mobile US deal extension, which follows market speculation about the possible loss of this client, according to JPM. However, the total results fell short of market expectations, according to JPM, with a weak start to the year and a one-time charge reducing profit. Shares drop 7.8%.(adria.calatayud@wsj.com)
08:14 ET In a research note, Simon Coles and Rohan Bahl of Barclays state that Nokia’s first-quarter earnings and profitability fell short of expectations, and that consensus projections for 2025 may decline. The Finnish telecom equipment manufacturer stated that it may be more difficult to reach the high end of its range because of a contract-settlement penalty it recorded in the first quarter, but it did confirm its full-year profit projection. Nokia’s performance fell short of expectations, even after accounting for the 120 million euro loss, according to Barclays. According to the analysts, consensus estimates may drop by a small, single-digit percentage. The share price drops 8.3%.(adria.calatayud@wsj.com)
0710 ET According to a report from Deutsche Bank analysts, Delivery Hero’s Asia division is slowing down the group’s increase in gross merchandise value. According to the analysts, the German food delivery company’s performance in the first quarter indicates a minor slowdown in the important indicator. They claim that the Asia division’s 8.4% annual fall in gross merchandise value is mostly to blame. GMV is a crucial industry indicator that shows the sum of all platform transactions. They say that South Korea has yet to demonstrate any improvement as a result of strategic measures in the area. At 24.07 euros, the share price has dropped 3.3%.(Â najat.kantouar@wsj.com)
06:33 ET Morgan Stanley analysts write in a note that Delivery Hero’s Asia business isn’t doing well in comparison to other divisions due to a highly competitive environment. They note that this is mostly because of South Korea, where Coupang’s competition is still fierce. Even if Korea is affected by more difficult comparisons, Delivery Hero still anticipates that gross merchandise value will expand in Asia this year, they add. At 24.27 euros, shares are down 2.5 percent. (najat.kantouar@wsj.com)
0602 ET According to Clement Genelot, an analyst for Bryan Garnier, Delivery Hero’s performance in Asia is concerning. Genelot continues, “Delivery Hero’s first-quarter performance in Asia has been even weaker than feared, raising questions about its ability to return to growth and regain market share in Korea.” According to the analyst, Korea is also essential to the group’s Ebitda. At 24.45 euros, the share price has dropped 1.8%.(najat.kantouar@wsj.com)
05:43 ET Thymen Rundberg, an analyst at ING, says in a note that RELX’s sustained progress demonstrates the company’s endurance in a difficult climate. Rundberg claims that the information-and-analytics group’s reaffirmed full-year outlook demonstrates its capacity to handle uncertainty. The analyst adds that RELX highlighted the ongoing transition to higher-growth analytics and decision tools as the primary growth engine and stated that the year has begun strongly across all four divisions. Shares are trading at 3,959 pence, up 0.4%. (najat.kantouar@wsj.com)
0412 ET Alexandre Desprez, a Baader analyst, writes in a research note that RELX’s performance report is comforting. According to the analyst, the group appears to be unaffected by the cutback in federal funding for research. Strong growth in article submissions at its scientific, technical, and medical division was reported by the information and analytics organization. According to Desprez, this will probably allay investors’ worries regarding the group’s research division. Shares are trading at 3,963 pence, up 0.5%. (najat.kantouar@wsj.com)
03:39 ET According to a report by Jefferies analysts Janardan Menon and Om Bakhda, the new CEO of Nokia has not indicated in his initial remarks that a change in strategy may be imminent. The analysts state that although Justin Hotard has taken over as CEO, his remarks to date have not indicated a shift in approach. Hotard stated that at a capital markets day in November, he will provide a more thorough presentation after providing an update on his strategic aspirations for the business and the second-quarter performance. Following the Finnish telecom equipment company’s first-quarter earnings, Nokia’s stock drops 6.4%.(adria.calatayud@wsj.com)
03:36 ET According to a note by Jefferies analysts Janardan Menon and Om Bakhda, trade tariffs will have a little effect on Nokia’s outlook after the company revealed first-quarter sales that were somewhat lower than anticipated. The Finnish manufacturer of telecom equipment anticipates that tariffs would reduce its comparable operating profit by 20–30 million euros in the second quarter. Nokia stated that the higher end of the range will be more difficult to attain because of a one-time contract settlement with a mobile networks customer, but it did confirm its full-year outlook. “Despite tariffs, we expect Nokia’s FY25 sales outlook to be resilient, with one-offs, higher investments, and geographic mix likely to impact margins,” Jefferies states. Shares drop 6.2%. (adria.calatayud@wsj.com)
0211 ET Citi analysts write in a letter to clients that STMicroelectronics’ first-quarter gross margin and its second-quarter outlook are lower than expected. The European chip manufacturer posted a first-quarter gross margin of 33.4%, which was lower than the Visible Alpha consensus of 33.8% and Citi’s prediction of 33.8%. In the meanwhile, the business is projecting a second-quarter gross margin of roughly 33.4%, which is lower than Visible Alpha’s consensus of 34.6% and Citi’s projection of 35.2%.(mauro.orru@wsj.com)
00:44 ET According to a research note by UOB Kay Hian analysts, Kuaishou’s decision to incorporate AI into its local-services business may help it lessen competition and macro headwinds. Last week, Kuaishou introduced the Kling 2.0 video generation methodology. According to UOB, the update will draw more producers to Kuaishou’s content ecosystem and significantly lower the cost and obstacles associated with content development. According to the analysts, Kuaishou anticipates that Kling AI will produce between 440 million and 450 million yuan in revenue this year, mostly from user subscriptions and business solutions. They note that merchants may be able to curate best-selling items and encourage the creation of high-caliber content with the aid of AI integration into Kuaishou’s local services company. At HK$49.95, shares are currently down 3.6%.(sherry.qin@wsj.com)
SOURCE: Tech, Media & Telecom Roundup: Market Talk
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Daisy Morgan is a dedicated business journalist known for her insightful coverage of global economic trends and corporate developments. With a career rooted in a passion for understanding the intricacies of the business world, Daisy brings a unique perspective to her writing, combining in-depth research with a knack for uncovering compelling stories. Her articles offer readers a comprehensive view of market dynamics, entrepreneurship, and innovation, aiming to inform and inspire professionals and enthusiasts alike.
