Tech Stocks Up On Rotation Into Cyclicals - Tech Roundup

Shares of tech companies ticked up as a rotation out of defensive sectors into cyclical ones continued. Google parent Alphabet produced a document in its legal battle with Uber Technologies purporting to show that the ride-hailing company knew a former Google engineer had confidential Google files before buying his self-driving-car startup. The European Union's antitrust regulator is set to order Luxembourg to retrieve roughly several hundreds of millions of euros in allegedly unpaid taxes from Amazon.com, The Wall Street Journal reported. Facebook estimated 10 million people saw ads it has discovered on its platform paid for by Russian entities, but warned that it may not have uncovered all malicious activity. Broadcom and Brocade Communication Systems, technology companies that have been trying to complete a $5.5 billion tie-up since last year, have agreed to push back the deal-closing deadline to allow for additional regulatory review.

-Rob Curran, rob.curran@dowjones.com

(END) Dow Jones Newswires

October 03, 2017 16:19 ET (20:19 GMT)