Tech Up After Google Earnings -- Tech Roundup

10/27/2021 | 05:16pm

Shares of technology companies rose amid strong earnings.

Google parent Alphabet rallied and tested all-time highs after it reported brisk growth in third-quarter advertising sales.

Microsoft shares rallied after the software giant's fiscal first-quarter results topped Wall Street targets.

"Microsoft represents a rare secular growth story in software with room for multiple expansion," said analysts at brokerage Morgan Stanley, pointing to the "operational discipline to grow margins."

Shares of Tesla rose after a report that rental car chain Hertz Group plan to supply as many as 50,000 to ride-hailing service Uber Technologies, beginning as soon as next week.

Carvana shares ticked up as the online car dealership struck a deal with Hertz to support direct-to-consumer sales. Federal Trade Commission staffers have begun looking into disclosures that Facebook's internal company research had identified ill effects from its products, The Wall Street Journal reported.

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

(END) Dow Jones Newswires

10-27-21 1715ET

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