Technology Shares Up Amid Earnings Optimism -- Tech Roundup

Shares of technology companies were higher amid earnings optimism. The European Union's antitrust watchdog is expected to find Alphabet Inc.'s Google illegally abused the dominance of its Android operating system for mobile phones, issuing a multibillion-euro fine and ordering changes to the company's Android-related business practices, people familiar with the matter said. Microsoft Corp. is cutting prices on its Surface devices, introducing a $399 tablet to compete with Apple Inc.'s least-expensive iPads. Xiaomi shares soared, as the prospect of rapid inclusion in key indexes helped make up for the Chinese smartphone-maker lackluster market debut a day earlier. Several major stockholders of an affiliate of Dell Technologies Inc. have misgivings about a bid to buy them out, potentially complicating the PC and data-storage giant's plan to return to the public markets. Holders of at least 10% of DVMT shares, which track Dell's controlling stake in VMware Inc., are disappointed with terms of the deal announced last week and may oppose it, according to people familiar with the matter. The holders include several teams at investing giant BlackRock Inc., as well as Farallon Capital Management LLC and Canyon Capital Advisors LLC. A year after going public with the backing of venture-capital firms, cloud-storage business Tintri Inc. filed for bankruptcy protection Tuesday and put its business up for sale, immediately drawing a bid from a data-storage supplier.

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(END) Dow Jones Newswires

July 10, 2018 17:20 ET (21:20 GMT)

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