Tech Firm Stocks Higher on Earnings Potential - Tech Roundup

Features Dow Jones Newswires

Shares of tech companies rose as traders bet the sector's above-market earnings growth rate would continue. "Earnings season is winding down and we are looking at the second consecutive quarter of double-digit earnings growth," said Ryan Detrick, senior investment strategist at brokerage LPL Financial. "Strong growth from technology and financials are driving much of the gains, which is always a positive sign given those are the two largest components of the S&P 500 Index." Netflix made the first acquisition in its 20-year history, buying comic-book producer Millarworld for an undisclosed sum, seeking to cash in on the success of comic-book author Mark Millar's house titles such as "Kick-Ass," "Old Man Logan" and "Kingsman." Electric-car maker Tesla will sell $1.5 billion in senior notes amid the launch of its Model 3 sedan, a sign the company is spending heavily to meet ambitious production targets. Google's new diversity chief criticized the contents of an employee's memo suggesting Google has fewer female engineers because men are better suited for the job.

Continue Reading Below

-Rob Curran, rob.curran@dowjones.com

(END) Dow Jones Newswires

August 07, 2017 16:47 ET (20:47 GMT)