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.

0619 GMT - TSMC's revenue growth may decelerate in 2H with potentially flat or on-quarter decline after a strong performance so far, say Citi analysts in a research note. They note that TSMC maintained its revenue growth guidance for 2025 around mid-20% after strong 1Q results. Citi believes the management has considered macro uncertainties ahead in its full-year guidance. TSMC has denied media reports of a potential joint venture or technology transfer to Intel, which could relieve some investor concerns on TSMC's long-term competitive advantage, they say. Citi raises TSMC's target price to NT$1,100.00 from NT$1,050.00 and keeps a buy call as it reckons that most near-term uncertainties have been priced in. Shares ended 0.35% higher at NT$850.00. (sherry.qin@wsj.com)

2225 GMT - Meta CEO Mark Zuckerberg's outsized voting power comes from his ownership of almost all the tech company's Class B stock. The company said in a Thursday filing that Zuckerberg owns 342.6 million Class B shares, which constitute 99.8% of the total shares. That gives him 61% voting power. Even though his economic interest in Meta is around 14%, his voting power is much higher because Class B shares come with 10 votes a share, while Class A shares come with one vote. Zuckerberg has a mere 141,000 shares of Class A stock, half the number that Chief Product Officer Chris Cox owns. (katherine.hamilton@wsj.com)

2050 GMT - Bill Ackman says in an X post that Uber should partner with Hertz to roll out a fleet of autonomous vehicles. "Hertz's large installed fleet of 500k vehicles, its expertise in vehicle maintenance and servicing, and the significant scope and scale of its thousands of locations (11,200 globally) and other difficult to replace at scale physical infrastructure make it an ideal partner for Uber," Ackman writes. A partnership would greatly improve the utilization and profitability of Hertz's vehicle fleet, he says. Ackman's Pershing Square Capital Management holds 12.7 million shares of stock in the car rental company, according to a securities filing on Wednesday. Hertz shares fall 1.4% in late trading, while Uber's stock is flat. (connor.hart@wsj.com)

2039 GMT - Netflix says it is continuing to make progress building its advertising business. "We remain on track to reach sufficient scale with our member base in all ads countries in 2025, and we expect to continue to grow our ads membership from this strong base in the future," the streamer says. At the same time, the company will continue investing in the business, enabling it to offer better measurement, enhanced targeting, innovative ad formats and expanded programmatic capabilities. Given its nascency, Bank of America analysts say in a research note that they expect Netflix's ad business to benefit the company even in a more challenging advertising backdrop. Shares rise 4.4%. (connor.hart@wsj.com)

2037 GMT - Netflix is increasing its focus on international markets, where gaining market share and subscribers is critical to the streamer's goal of achieving a $1 trillion market capitalization and doubling its revenue by 2030. "While the majority of our content spend and production infrastructure investment is in the U.S., we now also spend billions of dollars per year making programming abroad," the company says. Netflix has spent years building out international offices in cities including Mexico City and Paris, where the company now makes local shows and films for the regions. Shares rise 4.3% after Netflix beats its forecast for core metrics. (connor.hart@wsj.com)

1805 GMT - Online advertising company Magnite jumps after a federal judge rules that Alphabet's Google created an illegal monopoly allowing it to control parts of the online advertising industry. Benchmark's Daniel Kurnos says the reaction in Magnite's stock is "justified." Magnite, which provides technology to automate the purchase and sale of digital advertising inventory for buyers and sellers, is seen having an edge even if Google intends to appeal the ruling. "The uncertainty and potential for a break-up, or even just more transparency with a stricter application ion of the rules, could give Magnite, in particular, a competitive edge on an even playing field," Kurnos writes in a research note. Magnite rallies 15% to $11.36. (denny.jacob@wsj.com; @pennedbyden)

1642 GMT - The average rate on 30-year fixed home loans increased to 6.83% this week, up from 6.62% the previous week, according to Realtor.com using Freddie Mac data. The rise follows the recent surge in 10-year-Treasury yields driven by investor concerns about escalating global trade tensions, Realtor.com says. "This uncertainty adds to ongoing speculation about the Fed's next move on interest rates, the direction of the 10-year treasury yield, and, ultimately, where mortgage rates are headed," says Realtor.com Economist Jiayi Xu on the online real estate platform's blog. (chris.wack@wsj.com)

1043 GMT - Deliveroo's first-quarter performance is encouraging, UBS analysts write in a note. The acceleration in order growth was supported by strength in the U.K., the analysts note. The British food delivery company's implied U.K. market share growth is also reassuring, they add, noting that the strong start to the year was somewhat anticipated. "Full-year 2025 top line guidance is on the conservative end and has upside risk should the U.K. consumer hold up," the analysts say. Shares are up 3.2% at 134.30 pence. (najat.kantouar@wsj.com)

1014 GMT - Deutsche Telekom will likely benefit from the German fiscal stimulus, UBS analysts Polo Tang and Dhruva Kusa Shah write in a note. "Amid the understandable near-term focus on the impact of tariffs and foreign exchange fluctuations, investors have overlooked the benefits of the proposed German fiscal stimulus that was outlined in the coalition agreement last week," the analysts say. Among the proposals, the suggested corporate tax rate reduction to 25% from 30% and allowing businesses to front-load deductions could reduce taxes for the company, they add. Shares are down 1.2% at 31.67 euros. (najat.kantouar@wsj.com)

0834 GMT - Futures linked to the tech-heavy Nasdaq-100 are on the rise early Thursday after Taiwan Semiconductor Manufacturing Co. posted a jump in net profit and sales for the first quarter. TSMC's profit climbed 60% to 361.56 billion New Taiwan dollars, while revenue increased 42% from a year earlier. The E-mini Nasdaq 100 futures contract is up 1.2% on Thursday. The Nasdaq Composite index closed nearly 3.1% lower Wednesday after news of U.S. curbs on Nvidia's exports rattled investors in chip stocks. Nvidia stock closed 6.9% lower at $104.49 Wednesday. Shares are up 1% Thursday premarket, touching a high of $105.95. (mauro.orru@wsj.com)

(END) Dow Jones Newswires

April 18, 2025 04:20 ET (08:20 GMT)

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