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Tech Rises Amid Earnings Optimism — Tech Roundup

Shares of technology companies rose amid earnings optimism.

Tesla shares rallied as traders bet the electric-car maker's earnings report Wednesday will reveal it's managing supply-chain disruptions better than its Detroit rivals.

Shares of Zillow tumbled after the real-estate Web site said it was suspending its home-buying program, citing worker shortages that have caused a backlog of repair work on homes it has already purchased.

Sundar Pichai, chief executive of Google and parent company Alphabet, said the U.S. government should take a more active role in policing cyberattacks and encouraging innovation with policies and investments.

Amazon.com is aiming to hire 150,000 seasonal workers in the U.S., as it seeks to staff up for the holiday rush despite increasingly tight labor conditions in the U.S.

Rent the Runway is seeking a valuation of as much as $1.5 billion in its initial public offering next week, in what would cap a comeback for the clothing-rental business.

 

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

(END) Dow Jones Newswires

October 18, 2021 17:15 ET (21:15 GMT)

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