Tech Stocks Up as Valuation Scare Passes - Tech Roundup

FeaturesDow Jones Newswires

Shares of tech companies rose as fears about valuations receded.

Quincy Krosby, chief market strategist at Prudential Financial, said the return to favor of tech stocks could reflect "window dressing," as hedge-fund and mutual-fund managers buy up big gainers so that they will appear on their quarter-end portfolio lists sent out to investors.

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In the wake of Travis Kalanick's surprising exit as chief executive of ride-hailing firm Uber Technologies, other executives are seeking to reassure the 15,000 employees that the company is still well positioned to make an impact. A group of about 1,000 employees have signed a petition calling for Mr. Kalanick to be re-installed.

--By Rob Curran,

(END) Dow Jones Newswires

June 23, 2017 16:44 ET (20:44 GMT)