Tech Stocks Up Amid Strong Earnings -- Tech Roundup

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, [e-mail]

(END) Dow Jones Newswires

October 16, 2018 16:55 ET (20:55 GMT)

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