Tech Cos Up as Risk Appetite Rebounds -- Tech Roundup

02/09/18 04:44 PM EST

Shares of tech companies rose sharply as fears that a stock-market correction would become a full-fledged bear market abated. Shares of chip maker Nvidia rose more than 5% to over $230 after trading around $200 earlier in the week as its earnings report showed robust growth in sales, helped by an increase in high-end graphics cards partially inspired by the crypto-currency craze. Amazon.com Inc. is preparing to launch a delivery service for businesses, aiming to compete directly with United Parcel Service and Federal Express. Dubbed "Shipping with Amazon," or SWA, the new service will entail the tech giant picking up packages from businesses and shipping them to consumers, The Wall Street Journal reported. Uber Technologies agreed to settle a lawsuit with Alphabet's Waymo unit over claims that Uber stole and inappropriately used trade secrets for self-driving vehicles. Uber promised not to use Waymo technology in its self-driving cars and to ensure no Waymo components were already in use. Uber also agreed to give Alphabet a stake in itself valued at about $245 million, The WSJ reported.

 

-Rob Curran, rob.curran@dowjones.com

 

(END) Dow Jones Newswires

February 09, 2018 16:44 ET (21:44 GMT)

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