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Technology Shares Move Higher Amid Election Fervor -- Tech Roundup

11/03/2020 | 05:41pm EST

Technology shares were higher on Election Day.

Shares of cloud-computing firm Arista Networks surged 15% after it raised its outlook for fourth-quarter revenue.

Lenovo Group said its smartphone business, which has been the company's hardest-hit segment amid the pandemic, is on the verge of returning to profitability. "It's very close to break-even now," Lenovo's chief executive, Yang Yuanqing, told The Wall Street Journal, after the firm posted earnings for its fiscal second quarter. Lenovo said its net profit jumped 53%, supported by the continued demand boom for personal computers amid rising digitization of work, education and entertainment since the coronavirus pandemic.

 Write to Amy Pessetto at amy.pessetto@dowjones.com 

(END) Dow Jones Newswires

11-03-20 1740ET

Stocks mentioned in the article
ChangeLast1st jan.
ARISTA NETWORKS, INC. 1.27% 317.07 Delayed Quote.9.12%
LENOVO GROUP LIMITED -0.23% 8.8 End-of-day quote.20.22%
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