TMT Specialist Sales Daily Wrap

Market sentiment improved on positive geopolitical developments as investors balanced AI infrastructure enthusiasm with skepticism toward software company growth trajectories. Major TMT highlights include Adyen's acquisition of Orb, Adobe's CFO departure, and sector-specific developments in Korean robotics.

Key Takeaways

• 1.Stocks rose following geopolitical de-escalation in Iran; AI-linked hardware and data center demand continues to drive sector rotation.
• 2.Adyen announced the $335mn cash acquisition of Orb, sparking debate over whether this signals disciplined product expansion or a response to slowing organic growth.
• 3.Adobe shares fell following a CFO departure and lowered F2026 organic ARR growth guidance due to strategic shifts in freemium offerings.

Table of Contents

• TODAY'S WRAP
• AWAY FROM GS: Octave Rated New Inline at Evercore ISI; PT $20
• TECH
• TELCOS
• MEDIA & INTERNET
• GAMBLING
• MACRO AND TRADING
• 2026 EMEA Conferences
• 2026 Conferences