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Tech Shares Flat On Tax-Plan Worries - Tech Roundup

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11/10/2017 | 10:26pm CEST

Shares of tech companies were flat as traders hedged their bets on the legislative viability of Republican tax-cut plans. Tech companies are among the most affected by plans to incentivize the repatriation of cash held overseas. Shares of chip maker Nvidia continued its winning run after it reported another increase in demand for its chips and graphics cards, which are used in a range of high-end computing fields. Nvidia also said that crypto-currency miners represented a relatively small portion of its business, quelling concerns about the implications of volatile digital-currency prices for the chip maker. Ride-hailing app Uber Technologies suffered a setback in a British court when an appeals tribunal reaffirmed a decision that the company must give its drivers employee rights such as paid vacations. Musical.ly Inc., the maker of a social-media app popular among teens and tweens, agreed to be acquired by Web site Beijing Bytedance Technology for as much as $1 billion, The Wall Street Journal reported.

-Rob Curran, rob.curran@dowjones.com

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