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Tech Up On Rotation Into Growth Sectors -- Tech Roundup

08/04/2021 | 03:28pm EDT

Shares of technology companies rose, as investors bet the Delta variant would push the economy back to a pandemic footing.

A weak private-market jobs report weighed on cyclical sectors, driving investors into growth sectors like tech, which are less dependent on macroeconomic strength and would get an extra boost from a potential return of pandemic restrictions.

Location-data broker X-Mode Social, which was kicked off the Apple and Google platforms last year over its national-security work with the U.S. government, is being acquired, The Wall Street Journal reported.

Startup FullStory, which uses data and analytics to help its clients retain and build customer relationships, raised $103 million in new funding that values the company at $1.8 billion.

Chip-maker Intel will select a site for its next major U.S. factory this year in an attempt to drastically increase U.S. semiconductor production, and shift the center of such manufacturing activity from Asia, said Chief Executive Patrick Gelsinger.

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

(END) Dow Jones Newswires

08-04-21 1728ET

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