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Technology Shares Climb as More Earnings Come In -- Tech Roundup

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03/14/2019 | 04:24pm EDT

Shares of technology companies rose amid earnings and guidance reports. MongoDB shares spiked up 25% after blowout fourth-quarter results and an upbeat outlook prompted multiple price target increases by Wall Street analysts. The database platform company reported late Wednesday a narrower-than-expected loss, revenue that rose well above consensus estimates and provided first-quarter guidance that was better than forecasts. Share of Cloudera, meanwhile, were down nearly 20% after the software firm said its quarterly loss widened more than Wall Street expected. Semtech also fell after the supplier of analog and mixed-signal semiconductor products gave downbeat forecasts, projecting slowing demand in China and other challenges. A consortium that includes SoftBank Group is in late-stage talks to invest $1 billion or more in Uber Technologies Inc.'s self-driving vehicle unit, according to people familiar with the negotiations, a move that would help the ride-hailing firm make its pitch to investors ahead of its eagerly anticipated IPO.

-Amy Pessetto, amy.pessetto@dowjones.com

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