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Fly News Breaks for March 5, 2020
Mar 5, 2020 | 06:47 EDT
BofA analyst Justin Post is keeping his Buy rating and $1,620 price target on Alphabet, noting the company has only about 12% search exposure to travel related ad spending and about 9% of overall revenue. The analyst is lowering his FY20 revenue view by $1.5B to $188.5B and EPS by $1 to $53.23 due to the coronavirus related slowdown in travel, but sees no material impact on other ad verticals and expects Google travel to snap back in 2021.
News For GOOGL From the Last 2 Days
Jun 5, 2020 | 13:33 EDT
CTFN's Sarah Cohen issued a report to subscribers regarding Google's (GOOGL) desire to add to its security offerings to better compete against Microsoft (MSFT) and Amazon (AMZN). For more on the story, which is available exclusively to CTFN subscribers, request a trial here.
Jun 5, 2020 | 13:27 EDT
State attorneys general investigating Google are leaning towards arguing for a breakup of its advertising technology business as part of an expected antitrust lawsuit, reported CNBC's Lauren Hirsch and Megan Graham, citing people familiar with the matter. The U.S. Department of Justice and the states are looking to file a suit against Alphabet's company as soon as in the next few months, though the AGs and DOJ have not yet officially decided on whether to combine their expected suits, the report added. Reference Link
Jun 4, 2020 | 13:06 EDT
Zoom Video (ZM) is in advanced talks with Google Cloud (GOOGL) about using a security service offered by the company that alerts users to the dangers of clicking on links associated with malicious websites, according to The Information's Kevin McLaughlin, citing two people with knowledge of the matter. Reference Link
Jun 4, 2020 | 14:25 EDT
Welcome to "#SocialStocks," The Fly's weekly recap of Wall Street's reactions to social media stock news. PRESIDENT TRUMP TAKES... To see the rest of the story go to See Story Here
Jun 3, 2020 | 06:38 EDT
The Trump administration is taking the first step to arrange tariffs against a number of trading partners unless they abandon proposals to impose taxes that would fall heavily on the largest American internet companies such as Google (GOOG), Apple (AAPL), Facebook (FB) and Amazon (AMZN), Josh Zumbrun of the Wall Street Journal reported. The Office of the U.S. Trade Representative, or USTR, said that it was initializing probes into tax measures called digital-services taxes that are being proposed in many countries as a way to tax internet commerce. The USTR said it was scrutinizing a European Union-level proposal, as well as proposals from Austria, Brazil, the Czech Republic, India, Indonesia, Italy, Spain, Turkey and the U.K. Reference Link
Jun 3, 2020 | 06:25 EDT
Facebook (FB) and PayPal (PYPL) have made investments in GoJek, joining Google (GOOGL) and Tencent (TCEHY) in backing the Southeast Asian ride-hailing startup that also offers food delivery and mobile payments, TechCrunch's Manish Singh reports. GoJek tells TechCrunch that Facebook and PayPal were participating in its ongoing Series F financing round, which brings it total raise-to-date to over $3B. Reference Link