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Tech Up As Stimulus Hopes Offset Antitrust Worries -- Tech Roundup

10/20/2020 | 05:01pm EST

Shares of technology companies rose slightly as stimulus hopes offset antitrust worries.

Shares of Google parent Alphabet initially declined before rebounding after the Department of Justice filed an antitrust lawsuit in Washington, D.C., alleging that Google uses anti-competitive tactics to preserve a monopoly for its flagship search engine and related advertising business, illegally choking off potential competition.

International Business Machines shares rose after mixed earnings. The computer-services giant's chief executive, Arvind Krishna, said it hopes to double sales at its Red Hat open-source software unit in the next three years, speaking at the WSJ Tech Live conference.

Ride-hailing concern Uber Technologies is considering an overhaul of its business in California if voters reject a ballot measure that would prevent the ride-hailing company's drivers from being classified as employees.

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

(END) Dow Jones Newswires

10-20-20 1700ET

Stocks mentioned in the article
ChangeLast1st jan.
ALPHABET INC. 0.63% 1777.795 Delayed Quote.31.71%
COMPUTER SERVICES, INC. 2.59% 59.5 Delayed Quote.33.71%
INTERNATIONAL BUSINESS MACHINES CORPORATION -0.10% 124.34 Delayed Quote.-7.34%
UBER TECHNOLOGIES, INC. -0.38% 50.62 Delayed Quote.70.81%
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