Shares of technology companies rose after a strong round of earnings.
PayPal shares rallied after the electronic-payment concern posted a marked increase in fourth-quarter revenue.
Shares of online auction-house eBay rallied after its growth projections and quarterly profit topped Wall Street estimates.
Shares of chipmaker Qualcomm fell sharply after it posted quarterly revenue short of some Wall Street targets.
IAC/InterActiveCorp shares rose after its quarterly earnings report. Qualcomm shares fell after the chip designer's results lagged high expectations, suggesting 5G data networks are not as much of a bonanza for chipmakers as hoped.
Online genetic-test provider 23andMe is teaming up with a blank-check company backed by British billionaire Richard Branson's Virgin Group to go public in a deal that values the company at $3.5 billion, including debt. There has been a historic boom in "special acquisition companies," which only acquire businesses after flotation on public markets.
Social-media platforms Snap and Pinterest added millions more new users than expected in their latest quarters, showing strong growth in social-media use during the Covid-19 pandemic.
Shares of Snap fell after hours as the growth disappointed some investors, while Pinterest shares gained.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
02-04-21 1720ET
