Tech Shares Rise Ahead of Earnings -- Technology Roundup

Features Dow Jones Newswires

Shares of tech companies rose amid optimism for earnings season.

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Amazon.com and Google parent Alphabet saw shares add to gains after hours as their growth rate impressed investors.

Microsoft shares fell after hours, however, as some investors looked askance at the software giant's earnings report.

PayPal rose after the provider of payment technology posted earnings ahead of the average Wall Street target. "It's only the beginning," wrote Nomura Securities analysts, who foresee continued gains for PayPal's shares, in a research note.

The debate over immigration could influence plans in the tech sector as profoundly as changes to the tax code, said Thomas Digenan, head of US Intrinsic Value Equity at UBS Asset Management. While the Trump administration is likely to encourage "repatriation" of cash that many tech companies currently hold overseas for tax reasons, Silicon Valley companies might not deploy the cash in the U.S. if immigration restrictions remained in force, Mr. Digenan said.

-By Rob Curran, rob.curran@dowjones.com

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(END) Dow Jones Newswires

April 27, 2017 17:17 ET (21:17 GMT)