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.

1107 ET - MP Materials shares are surging on a $500 million partnership with Apple that sees the rare-earth producer's commercial momentum expanding, Davidson analyst Matt Summerville says in a research note. The team-up includes a $200 million prepayment from Apple for the purchase of recycled rare-earth magnets that will be used in Apple products. The incremental deal comes days after MP unveiled a transformative deal with the Department of Defense that will expand its processing capabilities, the analyst says. The company is on track to start magnet shipments in 2027, with Apple set to be a key anchor customer for MP's considerable expansion, Summerville says. Shares jump 26% to $61.10 and have surged nearly fourfold since the start of the year. (dean.seal@wsj.com)

0946 ET - Bitcoin stands to gain from the trend in companies accumulating bitcoin as a core treasury reserve asset, TP ICAP's digital assets director Hina Joshi says. Companies such as MicroStrategy and Metaplanet are positioning themselves as quasi-bitcoin exchange traded funds, she says. "MicroStrategy in particular is very interesting because it's expanded its bitcoin holdings through debt issuance and equity raises." This bitcoin accumulation could help propel the cryptocurrency higher if it continues, she says. Bitcoin falls 2.1% to $117,809 after reaching a record high of $123,153 Monday, LSEG data show. (renae.dyer@wsj.com)

0900 ET - S&P futures are higher following a bevy of better-than-expected results from big banks. JPMorgan reported quarterly profit that topped analyst estimates, as did Citigroup, Wells Fargo and Bank of New York Mellon. Also this morning, Nvidia is higher after the company says it should soon resume selling its H20 AI chip to Chinese customers, after the U.S. government told the company it would grant licenses. On the economic front, consumer prices rise 2.7% in June from a year earlier, faster than May's increase of 2.4%, but in line with the expectations. Core inflation excluding volatile food and energy prices up 2.9%, also in line with forecasts. S&P futures are up 23 points. (patrick.sheridan@wsj.com)

0635 ET - Artificial intelligence-driven productivity is on the rise, Bank of America's July global fund manager survey says. Among the fund managers surveyed, 42% believe that AI is already increasing productivity, it says. Meanwhile, 29% say they expect productivity gains after 2026, and 21% say in 2026, the survey says. (emese.bartha@wsj.com)

0541 ET - Ericsson's sales guidance implies a 2%-11% miss to third quarter EBITA consensus, Barclays analysts write. The company delivered better-than-expected second-quarter margins. However, adjusting for licensing catch​-​up payments, margins are broadly in line, the analysts say. Cloud software and services benefited from favorable product mix helped the margin result. The results are despite material currency headwinds and a one percentage-point tariff impact. This shows Ericsson continues to execute on its cost cutting and navigating the current environment, they say. "Despite this we continue to feel network gross margins have peaked which will create a tough setup for the coming quarters." Shares fall 3.6%. (dominic.chopping@wsj.com)

0528 ET - Trustpilot's earnings margin guidance upgrade might reflect missed growth targets, Panmure Liberum analysts Sean Kealy and Jonathan Barrett write in a note. The London-listed review website for businesses now expects its full-year adjusted Ebitda margin to be 14%, up from a previous forecast of a 2 percentage-point improvement from last year's 11.4%. While this appears positive, higher margins can sometimes result from weaker growth, they say. In Trustpilot's case, Ebitda tends to improve slightly when sales fall short, as commissions paid to the sales team are lower, they add. Shares are up 11.2% at 281 pence. (najat.kantouar@wsj.com)

0454 ET - Nvidia shares are rising Tuesday premarket after the tech giant said it received assurances from the Trump administration that it could sell its H20 artificial-intelligence chip in China. Nvidia shares closed 0.5% lower at $164.07 on Monday. Shares are up 4.5% at $171.51 Tuesday premarket. The U.S. had restricted sales of the chips in April, costing Nvidia billions of dollars. Nvidia's announcement that it could sell the chips comes days after Chief Executive Jensen Huang met President Trump. Nvidia said it would be allowed to sell H20 chips after licenses are granted by the Commerce Department. (mauro.orru@wsj.com)

0454 ET - Trustpilot's momentum is likely to continue, Peel Hunt's Jessica Pok and Melanie Yang write in a note. Share price of the London-listed review website for businesses has been fairly flat lately, as investors remain cautious due to weaker performance, they say. However, the company delivered robust bookings for the first half of the year. This is an encouraging sign, and the positive trend is expected to continue, they add. Shares are up 13.7% at 287.60 pence. (najat.kantouar@wsj.com)

0451 ET - Ericsson delivered decent second-quarter results, but the outlook is more mixed, Kepler Cheuvreux analyst Sebastien Sztabowicz writes. Sales were 6% below consensus, but margins and adjusted EBITA were stronger than expected. Ericsson acknowledged increased uncertainties in the coming months, particularly related to tariffs and the global economy. The company sees lower-than-normal seasonality in networks and normal seasonality in cloud software and services in the third quarter, potentially leading to flat or slightly lower organic sales in the quarter, Sztabowicz says. This leaves third-quarter sales guidance around 6% below consensus. However, Ericsson expects continued strong adjusted gross margin in the networks business of 48%-50%, despite U.S. tariffs. Shares fall 3.5%. (dominic.chopping@wsj.com)

0432 ET - Ericsson full-year consensus EBIT estimates could decrease by a low- to mid-single digit percentage after second-quarter results, UBS analyst Francois-Xavier Bouvignies writes. Ericsson's revenues were 6% below consensus due mainly to a strong currency headwind. EBITA was 9% below consensus when excluding a one-off licensing payment, UBS says. The company said there remains increased uncertainty on the third-quarter outlook, both relating to further tariff changes and to broader economic conditions. Network sales are expected to be below 3-year average seasonality of 3% in the third quarter. Cloud software and services sales are expected to be similar to 3-year average seasonality of 1%. "We would expect third-quarter sales to be 5%-10% below consensus," UBS says. Shares fall 3.5%. (dominic.chopping@wsj.com)

2302 ET - Singtel's additional dividends could be toward the higher end of its guidance of 3-6 Singapore cents in "value-realization dividends" over FY 2026-FY 2028, say UOB Kay Hian analysts in a note. The telecommunications company raised its value-unlocking target to S$9 billion in May. However, the analysts think this is conservative, and reckon Singtel's pipeline to unlock value could be as large as S$15 billion. They forecast the additional dividend could be at least 5 Singapore cents. Further value in Singtel's push to monetize assets is likely to largely come from lowering its 28% interest in Bharti to 22% over the next two to three years. The analysts estimate a 3% stake sale could net Singtel S$4 billion, given Bharti's high share price. UOB KH maintains its buy rating and S$4.58 target. Shares are last at S$4.04. (megan.cheah@wsj.com)

2127 ET - TSMC is unlikely to raise its 2025 revenue guidance despite strong 1H results, Citi analysts say in a research note. The world's largest contract chip maker is due to report 2Q results on Thursday. It should beat its previous revenue guidance of mid-20% growth in 2025 and could guide mid-single-digit on-quarter revenue growth for 3Q, the analysts say. However, considering tariff uncertainties and front-loading ahead of the tariffs, the analysts think the chip giant is unlikely to raise its 2025 guidance. Investors should focus on its advanced node demand and AI order visibility into next two to three years, they add. Citi maintains a buy call on TSMC with an unchanged target price of NT$1,280.00. Shares are last at NT$1,090.00. (sherry.qin@wsj.com)

(END) Dow Jones Newswires

July 15, 2025 12:20 ET (16:20 GMT)

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