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Fly News Breaks for January 30, 2020
EXPE, TRIP, BKNG, TRVG, GOOG, GOOGL
Jan 30, 2020 | 05:16 EDT
Goldman Sachs analyst Heath Terry downgraded Expedia (EXPE) to Neutral from Buy with a price target of $120, down from $140. The analyst expects continued pressure on the company's advertising returns and believes the window for incremental efficiency as a result of competitor pullbacks has lapped. Further, the customer acquisition environment, particularly search, will continue to evolve in ways that further squeeze online travel agencies, Terry tells investors in a research note. The analyst says the trade-off between growth and margins in online travel continues to deteriorate amid "healthy" consumer and business travel demand, high occupancy rates, "muted" hotel room supply growth relative to occupancy, and growing competition from sources of traffic, particularly Google (GOOG, GOOGL). He remains Sell-rated on TripAdvisor (TRIP) and Neutral-rated on Booking Holdings (BKNG) and Trivago (TRVG).
News For EXPE;TRIP;BKNG;TRVG;GOOG;GOOGL From the Last 2 Days
GOOGL, GOOG
Apr 9, 2020 | 14:52 EDT
Google (GOOG) has seemed to renamed the Hangouts name from Hangouts Meet to Google Meet: In an earlier posting to , the search giant said: "All over the world, businesses, schools and users depend on G Suite to help them stay connected and get work done. Google designs, builds, and operates our products on a secure foundation, aimed at thwarting attacks and providing the protections needed to keep you safe. G Suite and Google Meet are no exception. Google Meet's security controls are turned on by default, so that in most cases, organizations and users won't have to do a thing to ensure the right protections are in place. Here, we'll summarize the key capabilities of Google Meet that help protect you...Google Meet employs an array of counter-abuse protections to keep your meetings safe. These include anti-hijacking measures for both web meetings and dial-ins.Google Meet makes it difficult to programatically brute force meeting IDs (this is when a malicious individual attempts to guess the ID of a meeting and make an unauthorized attempt to join it) by using codes that are 10 characters long, with 25 characters in the set." The Fly notes that Google has banned videoconferencing software Zoom (ZM), which competes with Google's Meet app, on the devices of its employees, according to BuzzFeed News story from April 8. Reference Link
GOOGL, GOOG
Apr 8, 2020 | 14:58 EDT
Alphabet's (GOOG, GOOGL) Google has banned videoconferencing software Zoom (ZM), which competes with Google's Meet app, on the devices of its employees, according to BuzzFeed News' Pranav Dixit, citing an email Google sent to its employees that warned of "security concerns." Reference Link
GOOG, GOOGL
Apr 8, 2020 | 14:39 EDT
The Department of Justice filed a petition with the Federal Communications Commission concerning Google's application to operate a subsea cable. On behalf of itself as well as the Departments of Homeland Security and Defense, the department advised the FCC that those agencies do not oppose Google's application - through its subsidiary GU Holdings - to operate the segment of the Pacific Light Cable Network System connecting the U.S. to Taiwan for the next six months, pending a final disposition of the license application, so long as that temporary authority is conditioned on certain obligations. Those obligations are set forth in a Provisional National Security Agreement that was executed by GU Holdings and the foregoing agencies on April 8, 2020. Google applied to the FCC for this operating authority in a Special Temporary Authority on April 2, 2020. In its application for the STA, Google emphasized "an immediate need to meet internal demand for capacity between the U.S. and Taiwan" and that without the sought temporary authority Google would likely have to seek alternative capacity at "significantly higher prices." After discussions with Google representatives, the departments concluded that the obligations undertaken by Google in the Provisional National Security agreement would be sufficient to preserve their abilities to enforce the law, protect national security, and preserve public safety. Under the terms of the Provisional National Security Agreement, Google has agreed to a range of operational requirements, notice obligations, access and security guarantees, as well as auditing and reporting duties, among others. The Provisional National Security Agreement also includes a commitment by Google to "pursue diversification of interconnection points in Asia," as well as to establish network facilities that deliver traffic "as close as practicable" to its ultimate destination. This term reflects the views of the Executive Branch that a direct cable connection between the U.S. and Hong Kong would pose an unacceptable risk to the national security and law enforcement interests of the U.S. Reference Link
GOOG, GOOGL
Apr 8, 2020 | 12:40 EDT
Google Stadia vice president and GM Phil Harrison said in a blog post that, starting today and rolling out over the next 48 hours, the company will give gamers in 14 countries free access to its game streaming service Stadia for two months. Anyone who signs up will get two free months of Stadia Pro with instant access to nine games, including GRID, Destiny 2: The Collection, and Thumper. Users can purchase even more games on the store, which will remain theirs to play even if they cancel their Stadia Pro subscription. "If you're already a paid Stadia Pro subscriber, we won't charge you for the next two months," Harrison said. "After that, Stadia Pro is $9.99 a month, but you can opt out of your subscription at any time." Reference Link
GOOG, GOOGL
Apr 8, 2020 | 10:42 EDT
According to Downdetector, a website that "detects when technology fails," Gmail has had a spike in reported issues as of 10am ET, mostly with users unable to receive messages, and unable to log in. Reference Link
GOOG, GOOGL
Apr 7, 2020 | 08:30 EDT
Barclays lowered the firm's price target on Alphabet Class A to $1,300 from $1,635 and keeps an Overweight rating on the shares. The analyst says his channel work points to weakening digital advertising revenue trends, but not as bad as buy-side expectations of dropping 20%-30% year-over-year in Q2. Sandler continues to see Google at down 0% to 10% in Q2 and Facebook in the down 5% to 15% range.