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.

1541 ET – Adobe’s appointment of Anil Chakravarthy as its next CEO may signal a shift in the company’s focus, especially as investors worry that Creative Cloud is exposed to AI displacement, Morgan Stanley analysts write in a note. The move “could signal that Adobe’s center of gravity is shifting toward customer experience, enterprise workflows, and content supply chains, rather than relying on Creative Cloud as the primary growth engine,” the analysts write. “We see that as potentially the right strategic direction.” Still, they say, the appointment does not necessarily mean a “wholesale deprioritization of Creative,” but suggests that Adobe “could now be attempting to turn CX orchestration into a larger growth and monetization engine for enterprises.” Adobe shares trade down 6.4%. (elias.schisgall@wsj.com)

1143 ET – 5N Plus is positioned to become only qualified domestic U.S. supplier of gallium arsenide electro-optical components. Desjardin analyst Frederic Tremblay notes the specialty materials company was selected by the U.S. Department of War to receive $7.3 million to establish domestic production of gallium arsenide components for defense applications at its Utah facility. Currently, U.S. defense contractors rely on foreign suppliers. Tremblay says that this could also open the door to future production of gallium arsenide components and other advanced semiconductor materials for other defense and space applications. “This expands VNP’s long-term optionality by broadening its addressable market and strengthening its positioning within critical western supply chains,” he says. Shares are up 6.5% to C$26.55. (adriano.marchese@wsj.com)

1040 ET – Quebecor’s new 12-year agreement securing French-language NHL rights for TVA Sports 2038 isn’t a deal made directly with the league. Instead, Quebecor is sublicensing those rights from Rogers Communications, the telecom major that holds exclusive national broadcast authority across Canada through its C$11 billion master deal. The deal is an example of the concentration of Canada’s media landscape where one single titan can effectively gatekeep who sits at the table. In this case, Quebecor is buying a seat at Rogers’ table to expand its regular season hockey game lineup. Rogers, instead continues to solidify its dominance over Canadian sports, having most recently taken full control of the Maple Leafs Sports & Entertainment and its flagship franchises, including the Toronto Maple Leafs. (adriano.marchese@wsj.com)

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