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Tech Flat Ahead Of Key Earnings -- Tech Roundup

07/26/2021 | 05:09pm EDT

Shares of technology companies were more or less flat as traders hedged their bets ahead of key earnings reports in the sector.

Shares of "mega cap" tech companies such as Apple, Amazon.com and Alphabet were higher ahead of profit updates later in the week, as traders bet larger companies would ride out the impact of another round of Covid 19 restrictions better than their smaller peers.

The price of bitcoin spiked to a six-week high around $40,000, amid speculation that Amazon would soon unveil a digital-currency program, triggered by a job advertisement the online megastore posted for someone versed in blockchain technology.

Shares of electric-car maker Tesla rose ahead of what's expected to be a strong earnings report, even as they remained down by about 10% for the year to date.

The Federal Trade Commission has until Aug. 19 to file an amended version of its antitrust lawsuit against Facebook after a judge granted the agency an extension.

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

(END) Dow Jones Newswires

07-26-21 1708ET

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