Tech Up as Microsoft Gives Sector a Lift -- Information Technology Roundup
25 October 2014 - 9:27AM
Dow Jones News
The tech sector rose as earnings reports came in generally
strong. Microsoft rose after the software giant posted earnings
ahead of the Wall Street target, and said its Surface tablet
franchise is now in the black. Amazon.com slid as traders recoiled
from another quarterly loss caused by investment in new business
lines. Amazon also took a $170 million charge on its Amazon Fire
smartphone, which was released in July but has reportedly struggled
to find buyers. Pandora declined after the online radio service
posted subscriber growth shy of Wall Street expectations. "Growing
user-growth concerns and ongoing content-cost question marks are
likely to keep Pandora range-bound in the low $20s," said an
analyst at brokerage Susquehanna.
-Rob Curran, rob.curran@dowjones.com