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Tech Up as Utilities Data Raises Risk Appetite — Technical Briefing

admin by admin
August 3, 2022
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Tech Down on Earnings Concerns — Technical Summary
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Shares of technology companies rose amid optimism about the economic outlook after strong data from the services sector.

The widely traded exchange-traded fund ARK Innovation, managed by cutting-edge technology investor Cathie Wood, rose more than 5% as investors flocked to riskier venues, including cryptocurrencies.

Electronic Arts rose after the video game maker posted fiscal first-quarter sales above Wall Street estimates.

Sierra Wireless rose after confirmation that rival semiconductor group Semtech had agreed to buy the company in an all-cash deal with a total enterprise value of about $1.2 billion.

Cryptocurrency exchange Coinbase Global is appealing to the Supreme Court in a bid to avoid being embroiled in class action lawsuits with angry customers.

PayPal Holdings pounced after activist hedge fund Elliott Management revealed a sizeable stake in the financial technology company.

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



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