Tech Down Forward of Fed Transfer — Tech Roundup
Shares of expertise corporations fell amid trepidation forward of the Federal Reserve’s newest coverage transfer.
Uber Applied sciences shares rallied after the ride-hailing concern posted greater income as prospects spent extra on rides and meals supply.
Shares of Uber are nonetheless down nearly 30% for the yr so far, however they’re up by greater than 30% for the reason that begin of October. Rival Lyft rose in sympathy.
Residence-sharing app Airbnb fell in late buying and selling as traders recoiled from a modest bookings projection.
Apple shares fell after analysts at brokerage Morgan Stanley mentioned the iPhone and iPad maker’s current Securities and Alternate Fee submitting steered a slowdown in development on the App Retailer.
Write to Rob Curran at rob.curran@dowjones.com
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