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.

0907 GMT - Delivery Hero's full-year 2025 guidance points to another year of improved profitability and cash flow generation, Jefferies analysts write. The guidance is well-aligned with consensus expectations, they say. The German food-delivery company comfortably met its full-year 2024 guidance after a strong fourth-quarter, they write. Delivery Hero reported a slowdown in growth in Asia but this was not a surprise to investors, they write. The company is expected to use its call with analysts later in the day to explain its turnaround strategy in South Korea, the analysts add. Shares trade up 6.6% at 28.01 euros. (adam.whittaker@wsj.com)

0712 GMT - China's resurging consumer-electronics demand and solid automotive growth could boost SMIC's chip business over the next five years, DBS analyst Jim Au says in a research note. SMIC is well-positioned to capitalize on the acceleration of localization of semiconductor production while DeepSeek's breakthrough further strengthens capital flows for foundries making graphic processing units and AI accelerators, he says. Despite pressure on average selling prices for wafers amid competition and rising depreciation expenses, improving consumer-electronics demand and increasing AI-related product launches in China could outweigh the margin drag for SMIC, Au says. DBS maintains a buy call on SMIC's H-shares but raises its target to HK$53.20 from HK$37.00. Shares are last at HK$46.35. (sherry.qin@wsj.com)

0333 GMT - Semiconductor Manufacturing International Corp.'s share price in Hong Kong likely fully reflects its upward potential, Bocom International analysts say in a note. SMIC's 4Q revenue was better than expected, which management attributed to China's goods and equipment trade-in subsidies and the rush to place orders amid tariff uncertainties. However, the bank cuts SMIC to neutral from buy as high capex could weigh on margins and downstream demand is uncertain. It lifts SMIC's target price to HK$48.00 from HK$32.00 after a recent rally. SMIC's H-shares have gained amid the chip cycle upswing and other positive factors like chip production localization, more liquidity in Hong Kong's stock market and Chinese AI firm DeepSeek's breakthrough, but the positives look priced in. Shares last up 0.5% at HK$48.20. (sherry.qin@wsj.com)

0035 GMT - Domain's first-half result helped send the Australian real-estate advertiser's shares higher in early trade, but it wasn't all good news for Citi analyst Siraj Ahmed. He tells clients in a note that the Nine Entertainment-controlled classifieds group lowered its listings growth outlook, while residential depth revenue growth also slowed in the December quarter. The interim dividend also fell short of the average analyst forecast, he adds. Citi has a last-published neutral rating and A$3.20 target price on the stock, which is up 9.3% at A$2.985. (stuart.condie@wsj.com)

2236 GMT - AppLovin's Marketing Chief Katie Jansen has tendered her resignation, effective March 14, the company says as it discloses the sale of its gaming business to focus on its advertising segment. Jansen had served as CMO of the mobile advertising technology company, whose shares have skyrocketed more than sevenfold over the past year. Shares jump 28% to $486.51 after hours. (sabela.ojea@wsj.com; @sabelaojeaguix)

1813 GMT - DoorDash is higher after 4Q revenue and orders beat Wall Street estimates, and UBS says the food delivery company should deliver incremental adjusted Ebitda dollars for 2025 to 2027 at least at the levels seen in 2024 of greater than $700M. Still, the analysts say in a research note that there is a lingering unanswered question around the timing of adjusted Ebitda flowthrough. "We continue to prefer Uber given clearer adjusted Ebitda targets through 2026, ongoing platform synergies, and potential for Waymo partnership expansion in 2025," the analysts add. UBS raises its target price to $204 from $200. DoorDash rises 2.8% to $198.52. (sabela.ojea@wsj.com; @sabelaojeaguix)

1737 GMT - The Super Bowl seemed to be a good day for online sports betting companies, with Flutter Entertainment's Fanduel reporting a 19% increase in bets to 16.6 million, and BetMGM calling it "one of the best single game results in company history," BofA Securities analysts say in a research note. The ability to grow double-digits during the biggest event of the year could help ease concerns of slowing handle, or the amount of money wagered by bettors, the analysts say. DraftKings led active user share on Sunday at 23%, followed by FanDuel at 17%, while Bet365, PrizePicks and ESPN Bet each had 10% share, BofA says. Still, the analysts don't expect DraftKings to raise guidance, as it might face $100 million of annualized headwinds from higher taxes in Maryland and Ohio, together with launch costs in Missouri. (sabela.ojea@wsj.com; @sabelaojeaguix)

1719 GMT - UBS says Lyft's worse-than-expected 4Q gross bookings and margin trajectory reinforces its below-consensus adjusted Ebitda forecasts for 2025 to 2027. The analysts also say in a research note that the upcoming loss of the Delta Air Lines partnership, that linked Delta SkyMiles and Lyft accounts, will likely be a headwind that makes their medium-term forecasts uncertain. Add to that the threat of robotaxis and the analysts say they have limited visibility into near-term trading multiple expansion. "We think Lyft's competing initiative will remain nascent through 2026," the analysts say. UBS cuts its target price to $15 from $16. Lyft falls 4% to $13.82. (sabela.ojea@wsj.com; @sabelaojeaguix)

1550 GMT - Apple could be getting a much-needed sales boost in China. The tech company partnered with Alibaba to co-develop Chinese AI features that have been submitted to China's cyberspace regulator for approval, Bank of America analyst Wamsi Mohan says in a research note, citing a report from The Information. iPhone sales have been pressured in China, falling for six consecutive quarters. CEO Tim Cook noted last month that iPhone sales are stronger in regions where AI tools are available. "We believe Apple can regain share in the Chinese market if they are able to launch Apple Intelligence successfully to compete with Huawei/Xiaomi's currently available AI offerings," Mohan writes. Alibaba ADRs rise 4.7%, on track for a two-year high. Apple shares rise 1%. (connor.hart@wsj.com)

1459 GMT - Super Micro Computer is guiding for a big 60% jump in FY26 revenue that has JPMorgan analysts raising their own estimates, albeit not as high as the company's management. They say in a research note that it is too early to underwrite the upbeat view given limited visibility around the easing of supply chain constraints for next-generation chips. The upcoming AI server product cycle is also more competitive now, as Super Micro's peers have stronger portfolios and are looking to have bigger roles in the industry, the analysts say. Many of those peers have also mentioned near-term margin concerns for AI server offerings, undermining Super Micro's confidence that margins could improve for next-gen AI servers, they say. (dean.seal@wsj.com)

1444 GMT - Super Micro Computer's plan to have several regulatory filings finalized and released prior to the February 25 deadline, should reduce uncertainty for investors, Wedbush analysts Matt Bryson and Antoine Legault say in a research note. JPMorgan analysts raise their price targets on the company to $35 from $23, "largely on the back of the increased conviction from the management team to meet regulatory deadlines," they say in a research note. For that same reason, the JPMorgan analysts are ascribing a higher earnings multiple to the stock. That said, the delayed filings marked Super Micro's second flirtation with questionable financials and may continue to weigh on its perceived risk profile, the Wedbush analysts say in their note. Super Micro Computer climbs 1.5% and is up 29% year-to-date. (dean.seal@wsj.com)

1428 GMT - Super Micro Computer is benefiting from an upbeat FY26 outlook that anticipates a robust AI server revenue cycle on the horizon, JPMorgan analysts say in a research note. The company is guiding for $40 billion in revenue that year, well above consensus estimates. Its FY25 guidance also implies a strong revenue inflection in 4Q, the analysts say. The outlook provides a nice upside surprise against a challenging near-term backdrop, they say, but the upcoming AI server product cycle is much more competitive now that Super Micro's peers have stronger portfolios, the analysts add. Super Micro Computer climbs 5.3% to $40.66. (dean.seal@wsj.com)

(END) Dow Jones Newswires

February 13, 2025 04:20 ET (09:20 GMT)

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