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Tech up Amid Strong Earnings — Tech Roundup

The technology sector rose amid strong earnings.

Match Group rallied after the online match maker posted earnings ahead of Wall Street target, as its youth-oriented app Tinder saw another quarter of torrid subscriber growth. Tinder added more than half a million subscribers in the quarter, the second-highest sequential increase in quarterly subscribers since it launched.

FedEx said it was ending its contract to deliver Amazon.com packages through its ground network, essentially severing ties with one of the world's biggest shippers. The decision reflects longstanding tensions between the two as Amazon builds out its own delivery fleet.

Lyft shares rose in after-hours trading after the ride-hailing app boosted its sales outlook for the year.

Chip maker Broadcom is nearing a multibillion-dollar deal for cybersecurity software maker Symantec's enterprise unit, The Wall Street Journal reported.

 

Write to Rob Curran at rob.curran@dowjones.com

(END) Dow Jones Newswires

August 07, 2019 17:06 ET (21:06 GMT)

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