Tech Lower After Alphabet Earnings -- Tech Roundup

Features Dow Jones Newswires

Shares of tech companies fell after an earnings disappointment from one of the sector's leading lights.

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Shares of Google parent Alphabet fell after the search giant's per-click income declined somewhat.

Seagate Technology shares slid after the hard-disc drive maker posted fourth-quarter profit and sales short of Wall Street estimates, and, separately, reported that its chief executive was stepping down.

Japanese tech giant Softbank approached troubled hail-riding giant Uber about a multibillion-dollar investment, The Wall Street Journal reported. SoftBank founder Masayoshi Son has pledged to invest in emerging technologies and his firm is already a backer of the three largest Asian ride-hailing companies: Singapore's GrabTaxi Holdings Pte., India's Ola and China's Didi Chuxing Technology Co.

Seagate Technology PLC shares plunged Tuesday after the company reported fourth-quarter profit and sales well below expectations.

Elon Musk and Mark Zuckerberg -- two of the corporate leaders in Silicon Valley -- have sparred in the media about the dangers posed by artificial intelligence to people's jobs, with Mr. Musk speaking out against AI and Mr. Zuckerberg speaking out against Mr. Musk.

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Adobe plans to discontinue support of Flash, the animation and video software that long supported gaming and video streaming on the internet but contributed little to the software maker's earnings.

Rob Curran, rob.curran@dowjones.com

(END) Dow Jones Newswires

July 25, 2017 17:48 ET (21:48 GMT)