Tech Stocks Rise Led by Netflix Earnings - Tech Roundup

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Shares of tech companies rose after strong earnings from Netflix, one of the leaders of the current bull market. Shares of Netflix rose more than 10% to an all-time high above $250 after the streaming service said it added subscribers in record numbers even as it boosted subscription prices. Netflix and other large-cap tech companies such as Facebook, Amazon.com and Google's parent Alphabet, are also riding a wave of bullish momentum. "After the end of the brief government shutdown, markets this week are being primarily driven by continuing strong results from earnings, a fear of missing out from investors, and to a small degree by a spurt of M&A activity at the beginning of the week," said Craig Birk, executive vice president at online wealth manager Personal Capital, in a note to clients. Apple said it will start selling its voice-activated speaker HomePod in stores Feb. 9, after a launch delay that meant it missed the holiday-shopping season. Shares of messaging app Twitter gave back some of their recent gains after reports Chief Operating Officer Anthony Noto was leaving to become head of online lender Social Finance. Shares of Tesla rose after the electric auto maker said it updated the pay package for Chief Executive Elon Musk with a plan that again ties his compensation entirely to ambitious performance benchmarks.

-Rob Curran, rob.curran@dowjones.com

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(END) Dow Jones Newswires

January 23, 2018 16:35 ET (21:35 GMT)