Shares of technology companies rose as traders piled into electric-car makers.
Shares of Tesla rose by more than 6% to reach a valuation of more than $1.15 trillion, as world leaders touted a shift away from fossil fuels at the COP26 summit in Glasgow.
Shares of Lucid Group, which began delivering its first Air sedans to customers Sunday, ticked down but remain up by more than one third over the last week. Another Tesla rival, Rivian Automotive, also began delivering its first electric pickup trucks to buyers recently. Rivian, which is backed by Amazon.com, is aiming for a valuation of more than $60 billion in its initial public offering, The Wall Street Journal reported.
Amazon said it has applied for Federal Communications Commission permission to launch and operate two demonstration satellites for Project Kuiper, its effort to deploy about 3,200 satellites into low-Earth orbit that would provide broadband internet access.
A months long effort to spin virtualization software maker VMWare from computer-services conglomerate Dell should be completed Monday with the payment of an $11.5 billion special dividend to VMware shareholders.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
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