Tech Higher as Traders Bet on Growth -- Tech Roundup

Features Dow Jones Newswires

Shares of tech companies rose as traders bet the sector would continue to enjoy above-average growth.

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Nvidia shares rose after the chip maker -- whose shares have stalled this year after being the strongest Standard & Poor's 500 performer in 2016 -- posted a sharp increase in first-quarter profit. Analysts at brokerage Nomura Securities said weakness in one of the specialist chip maker's key markets, computer gaming, could yet weigh on shares.

Yelp shares slid after the restaurant-review web site posted earnings short of Wall Street targets.

SoftBank Group posted a decline in its fiscal fourth-quarter operating profit as Chief Executive Masayoshi Son prepared to shift focus from telecom operations to running a $100 billion technology investment fund.

Conduent, formerly the services business of Xerox, narrowed its loss in its second quarter as a standalone company.

The European Union's executive body is considering new rules that would prevent web platforms such as Alphabet's Google, Amazon.com and TripAdvisor from offering unfair terms to small businesses that use their services to sell or promote products.

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Rob Curran, rob.curran@dowjones.com

(END) Dow Jones Newswires

May 10, 2017 17:31 ET (21:31 GMT)