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Tech Up After Nvidia Earnings -- Tech Roundup

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02/14/2020 | 05:22pm EDT

The technology sector rose as momentum buyers continued flocking to the sector, spurred by strong earnings.

Shares of graphics chip maker Nvidia rose after forecasting earnings growth ahead of Wall Street expectations, bringing gains since its 52-week low last February to about 85%.

With most Standard & Poor's 500 fourth-quarter profit reports out of the way, results "dissipated fears of an earnings recession," said Quincy Krosby, chief market strategist at Prudential Financial. "Even with the virus, the market expects that earnings will continue growing."

Shares of online travel agency Expedia rose after it forecast "double-digit" profit growth for 2020.

Shares of Arista Networks fell after the maker of routers and other network hardware posted a decline in fourth-quarter revenue.

The Pentagon has dropped its opposition to a proposed rule that would make it harder for U.S. chip makers and other companies to send shipments to China's Huawei Technologies from their overseas facilities, The Wall Street Journal reported.

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

 

Stocks mentioned in the article
ChangeLast1st jan.
ARISTA NETWORKS, INC. 0.28% 194.64 Delayed Quote.-4.31%
EXPEDIA GROUP, INC. 1.78% 48.71 Delayed Quote.-54.96%
NVIDIA CORPORATION -4.53% 243.91 Delayed Quote.3.66%
PRUDENTIAL FINANCIAL, INC. -1.16% 46.09 Delayed Quote.-50.83%
PRUDENTIAL PLC -2.38% 920.2 Delayed Quote.-36.49%
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