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.

1129 ET - David Ellison sees multiple pathways to pay down the significant debt Skydance currently carries. "One is to grow the business," Ellison says in an interview with CNBC on Thursday. "We're going to be investing more in content than any of our peers." At the same time, Ellison says there are billions of dollars in cost synergies that will emerge throughout the integration process. Over the same period, free cash flow is expected to grow. "We are absolutely in a position where we can grow the business and delever simultaneously," Ellison says. (connor.hart@wsj.com)

1119 ET - David Ellison says all the work it took to complete his $81 billion deal to combine Paramount with the much larger Warner Bros. Discovery was well worth it. "The reason why we went through everything that we did is because with the combination, and the completion of this transaction, we are positioned to win in every single vertical that we operate in," Ellison says in an interview with CNBC. Ellison adds that the combined company, called Skydance, has "the greatest content engine with marquee intellectual property," as well as the ability to immediately scale its streaming, sports and linear portfolios. (connor.hart@wsj.com)

0820 ET - Schneider Electric doesn't seem to have convinced investors of the merits of its proposed $22.6 billion acquisition of U.S. software maker PTC, and it will take time for the deal to be digested, Jefferies analysts say in a research note. Most investors don't understand the need to invest as much in the French engineering group's industrial-automation division, the analysts say. The company could ease some of those concerns by completing a capital increase quickly and presenting a clear plan to deliver synergies, Jefferies says. Addressing the AI disruption risk will be more difficult, especially given that the deal will take about a year to close, the analysts add. Jefferies raises its target price on Schneider's stock to 323 euros from 289 euros. Shares rise 0.3% to 255.40 euros. (adria.calatayud@wsj.com)

0515 ET - SAP should report a moderation in cloud business growth when the German business-software group posts third-quarter results on Oct. 21, UBS analysts write in a research note. SAP's current cloud backlog--a closely watched measure of sales the group expects over the coming year based on existing contracts--grew 26% on year at constant currencies in the second quarter. Analysts say a slowdown to 24% or 25% in growth is highly likely in the third quarter. They say checks indicate that provisioning times for new SAP software functionalities at some large tech clients were lengthening as they invested more in AI infrastructure. SAP shares trade 0.7% higher at 188.88 euros. (mauro.orru@wsj.com)

0414 ET - Shares of European semiconductor companies are in negative territory as investors sell off tech stocks with exposure to artificial intelligence. In Asia, South Korea's SK Hynix and Samsung Electronics closed 2.4% lower. In Europe, shares of Dutch semiconductor-equipment maker ASML Holding and smaller rival ASM International are down 1.1%. BE Semiconductor Industries, the Dutch supplier of semiconductor assembly equipment, is down 0.5%. German chip maker Infineon Technologies stock loses 2.5%. STMicroelectronics shares are down 3.3%. Meanwhile, the E-mini Nasdaq 100 futures contract is 0.5% lower, pointing to a weak opening for tech stocks in the U.S. (mauro.orru@wsj.com)

0304 ET - Vodafone Group's new U.K. business VodafoneThree is shaping up to become a bright spot for the U.K. telecommunications group, analysts at Deutsche Bank say in a research note. The company set out new midterm targets for its U.K. unit that look impressive, especially in the context of a highly competitive market in the country, the analysts say. The new targets imply between 2.2 billion and 2.8 billion pounds of adjusted Ebitda after leases by fiscal 2032 for the unit and are likely toward the upper end of analysts' expectations, according to Deutsche Bank. The update also supports Deutsche Bank's upbeat view on the prospects for the group's cash flow and share price, given that its U.K. and Africa businesses should help offset pressures elsewhere, the analysts add. (adria.calatayud@wsj.com)

0234 ET - China's semiconductor self-sufficiency or localization rate could reach 47% in 2030 from around 34% in 2025, with mature nodes at the top followed by memory chips, say Nomura analysts in a research note. The ongoing U.S.-China economic decoupling will likely drive more capacity localization, creating opportunities for domestic chip designers, foundries, and memory makers. Strong demand is transmitting upstream into the supply chain, offering significant upside potential for equipment and material vendors. Nomura expects China's wafer fab equipment market size to grow 27% to $55.4 billion in 2026 and reach $103.5 billion in 2030. (sherry.qin@wsj.com)

0231 ET - Higher inflation poses a headwind for private equity, says Franklin Templeton CEO Jenny Johnson. Inflation in the U.S. is passing through to more expensive energy and materials. Buyouts in private equity have slowed, and if interest rates stay higher that's likely going to get harder and harder, she says. Many private-equity firms held their paper and built their companies during a zero-rate environment. "Now you have to carry that cost," she adds. "The exits are becoming harder, so I think there's areas where you have to be careful." But that always turns into opportunities, says Johnson. There are really good opportunities on the venture side that people overlook. "Everybody talks so much about AI. They're not talking about other technologies that are pretty impressive," like 4-D printing. (fabiana.negrinochoa@wsj.com)

0106 ET - LG Electronics could continue to grow earnings despite challenges from sluggish demand, higher raw-material and logistics costs amid geopolitical tensions, Nomura analysts Eon Hwang and YJ Kim say. The analysts expect the South Korean consumer-electronics giant to remain profitable, supported by restructuring efforts and the expansion of new businesses, including AI data-center chillers. They expect the company's standalone operating profit to jump 90% to 3.4 trillion won in 2026 and rise 6.3% to 3.6 trillion won in 2027. Citi downgrades the stock to neutral from buy, saying growth in the new AI data-center chiller business has been largely priced into its recent rally, but raises its target price to 200,000 won from 160,000 won. Shares are last 3.1% lower at 201,500 won. (kwanwoo.jun@wsj.com)

2352 ET - Samsung Electronics could benefit from increasing production of its high-end DRAM product, high-bandwidth memory 4, in 2027, Citigroup's Peter Lee and Jayden Oh say. The analysts expect prices for Samsung's HBM4 12hi product--the most advanced HBM4 variant with 12 DRAM dies stacked vertically--to surge 100%-150% to $4-$5 per gigabit in 2027. "Looking ahead, we expect SEC's market leadership to strengthen further as HBM4 ramps up, supported by its leading production capacity and technology," they write in a note. Citi views Samsung's 3Q preliminary earnings as solid, despite unfavorable foreign-exchange headwinds and additional bonus costs.(kwanwoo.jun@wsj.com)

2238 ET - TSMC could deliver over 40% revenue growth into 2027 amid robust AI compute demand, potential upside from agentic AI and the emergence of a co-packaged optics networking cycle, Citi analysts say in a research note. TSMC's AI revenue growth could nearly double next year given most of its AI chip customers, including Nvidia, AMD and Broadcom, are expecting accelerating growth, they say. As a result, Citi expects continuing consensus earnings upgrades for the chip maker. TSMC's capex could further rise to US$81 billion and US$90 billion in 2027 and 2028, respectively, supported by strong its revenue outlook, they note. Citi maintains its buy rating on TSMC and raises its target price for TSMC to NT$4,000 from NT$3,800. Shares are at NT$2,560.00. (sherry.qin@wsj.com)

2021 ET - GoTo Gojek Tokopedia's current valuation looks attractive and provides upside after a technical selloff following the removal of the 50 rupiah price floor by the Indonesian market regulator in late September, says Citi analyst Ferry Wong in a note. The bank closes its negative short-term view and opens a 90-day positive catalyst watch. However, it cuts FY26-28 adjusted Ebitda estimates by 9%, 17% and 20%, respectively, to factor in the government's cap on ride-hailing commissions and potential delivery commissions. Citi lowers the stock's target price to IDR80 from IDR95 but maintains a buy, saying the market appears to assign little value to GOTO's operating businesses. Shares last closed 3.2% lower at IDR30.