Tech Up After Tax Bill Progress -- Tech Roundup

Features Dow Jones Newswires

Shares of tech companies rallied as the passage of a tax bill in the House of Representatives and strong earnings buoyed risk appetite.

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Cisco Systems rallied after the maker of networking products said it expects revenue to grow in the current quarter, in what would be the first such increase since 2015.

PayPal Holdings rose after the maker of financial technology agreed to sell Synchrony Financial nearly $6 billion in loans it made to online shoppers, creating a war chest for acquisitions or share buybacks.

Shares of Internet music concern Pandora rose after analysts at brokerage BMO Capital boosted their ratings on the company. Shares of NetApp, a provider of data-storage services, surged after it reported earnings ahead of Wall Street targets.

-Rob Curran, rob.curran@dowjones.com

(END) Dow Jones Newswires

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November 16, 2017 16:32 ET (21:32 GMT)