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Fly News Breaks for February 4, 2020
GOOGL, GOOG
Feb 4, 2020 | 07:22 EDT
BofA analyst Justin Post reiterated a Buy rating and $1,620 price target on Alphabet following the company's Q4 report, saying the big 4 sentiment drivers were mixed to positive. The analyst lowered his 2020 net revenue view to $155.4B from $156.2B, but raised his GAAP EPS view to $54.23 from $54.09. Despite Q4 revenues that fell below the Street, the analyst says he continues to be optimistic on new ad product opportunity in 2020.
News For GOOG;GOOGL From the Last 2 Days
GOOGL, GOOG
Oct 20, 2020 | 16:23 EDT
Stocks were slightly higher at midday as investors awaited word on whether Democrats and Republicans can broker a truce and enact more stimulus legislation ahead of the upcoming presidential election. House Speaker Nancy... To see the rest of the story go to thefly.com. See Story Here
GOOGL, GOOG
Oct 20, 2020 | 13:18 EDT
Kent Walker, Google's SVP of Global Affairs, said in a blog post: "Google Search has put the world's information at the fingertips of over a billion people. Our engineers work to offer the best search engine possible, constantly improving and fine-tuning it. We think that's why a wide cross-section of Americans value and often love our free products. Today's lawsuit by the Department of Justice is deeply flawed. People use Google because they choose to, not because they're forced to, or because they can't find alternatives. This lawsuit would do nothing to help consumers. To the contrary, it would artificially prop up lower-quality search alternatives, raise phone prices, and make it harder for people to get the search services they want to use. Let's talk specifics. The Department's complaint relies on dubious antitrust arguments to criticize our efforts to make Google Search easily available to people. Yes, like countless other businesses, we pay to promote our services, just like a cereal brand might pay a supermarket to stock its products at the end of a row or on a shelf at eye level. For digital services, when you first buy a device, it has a kind of home screen "eye level shelf." On mobile, that shelf is controlled by Apple, as well as companies like AT&T, Verizon, Samsung and LG. On desktop computers, that shelf space is overwhelmingly controlled by Microsoft. So, we negotiate agreements with many of those companies for eye-level shelf space. But let's be clear-our competitors are readily available too, if you want to use them." Reference Link
GOOGL, GOOG
Oct 20, 2020 | 12:37 EDT
For this week's edition of "Game On," The Fly spoke with SunTrust analyst Matthew Thornton on a variety of gaming subjects, including the upcoming earnings season for big publishers, cloud gaming, and more. NEW CONSOLES: Both... To see the rest of the story go to thefly.com. See Story Here
GOOG, GOOGL
Oct 20, 2020 | 12:01 EDT
Stocks are slightly higher at midday as investors await word on whether Democrats and Republicans can broker a truce and enact more stimulus legislation ahead of the upcoming presidential election. House Speaker Nancy... To see the rest of the story go to thefly.com. See Story Here
GOOG, GOOGL
Oct 20, 2020 | 10:51 EDT
Jefferies analyst Brent Thill raised the firm's price target on Alphabet to $1,850 from $1,800 ahead of the company's upcoming earnings report, telling investors that his checks point to strength in YouTube ad pricing, a return of brand ad spending, and continued strong bookings in Google Cloud. The analyst, who views Alphabet as "well-positioned to monetize secular shifts to online marketing, content and commerce," has a Buy rating on the shares.
GOOGL, GOOG
Oct 20, 2020 | 10:33 EDT
Georgia Attorney General Chris Carr, along with the Department of Justice and ten other state Attorneys General, filed today a civil antitrust lawsuit in the U.S. District Court for the District of Columbia to prevent Google from "unlawfully maintaining monopolies through anticompetitive and exclusionary practices in the search and search advertising markets." The participating state Attorneys General offices represent Arkansas, Florida, Georgia, Kentucky, Indiana, Louisiana, Mississippi, Missouri, Montana, South Carolina, and Texas. "On behalf of Georgians, our office joined this lawsuit to address Google's potential anticompetitive conduct in order to maintain a fair and free market for consumers, advertisers and all companies now reliant on the internet economy," said Attorney General Chris Carr. As alleged in the complaint, Google has entered into a "series of exclusionary agreements to lock up the primary avenues through which users access search engines, and thus the internet, by requiring that Google be set as the default or exclusive search engine on billions of mobile devices and computers worldwide." Carr said in a statement, "These and other anticompetitive practices can harm competition and consumers, reducing the ability of innovative new companies to develop, compete, and discipline Google's behavior." Reference Link
GOOGL, GOOG
Oct 20, 2020 | 10:28 EDT
Google Public Policy said via Twitter, "Today's lawsuit by the Department of Justice is deeply flawed. People use Google because they choose to -- not because they're forced to or because they can't find alternatives. We will have a full statement this morning." Shares of Google parent Alphabet are up $16.03 to $1,545.98 in morning trading.
GOOGL, GOOG
Oct 20, 2020 | 10:25 EDT
Deputy Attorney General Jeffrey Rosen is speaking on a call regarding the charges.
GOOG, GOOGL
Oct 19, 2020 | 09:02 EDT
Catch up on the top industries and stocks that were impacted, or were predicted to be impacted, by the comments, actions and policies of President Donald Trump and his administration with this weekly recap compiled by The Fly: 1. NY POST STORY... To see the rest of the story go to thefly.com. See Story Here