Tech Stocks Up Amid Strong Earnings -- Tech Roundup
October 16 2018 - 5:10PM
Dow Jones News
Shares of tech companies recouped some of their recent losses
after strong earnings reports.
Adobe (ADBE) rose after the software maker forecast an up-tick
in growth in 2019. Shares of Netflix (NFLX) rallied after the bell
when the streaming service posted strong user growth.
Developments emerged in two of the most anticipated
initial-public offerings in recent years.Uber Technologies recently
received initial-public offering pitches from investment banks
seeking to launch the ride-hailing service on public markets in
early 2019 with a valuation of $120 billion, The Wall Street
Journal reported. Rival Lyft selected underwriters including
JPMorgan Chase, Credit Suisse and Jefferies for a first-half 2019
IPO.
Blue Apron Holdings (APRN), the meal-kit delivery company that
has fallen short of investor expectations, last week refinanced its
long-term debt, extending the maturity date to February 2021 from
August 2019.
Twilio (TWLO) said it would acquire email-delivery service
SendGrid (SEND) in an all-stock deal valued at about $2
billion.
-Rob Curran, rob.curran@dowjones.com
(END) Dow Jones Newswires
October 16, 2018 16:55 ET (20:55 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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