Google Dips Below $500 for 1st Time
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Google Dips Below $500 for 1st Time

By: Preeti

NEW YORK - Shares of Google Inc. on Monday fell below $500 for the first time since in August, days after a lackluster fourth-quarter earnings report and a $42 billion buyout offer from Microsoft Corp. for Google’s largest rival, Yahoo Inc.
In afternoon trading, Google (nasdaq: GOOG - news - people ) shares fell $19.11, or 3.7 percent, to $496.79. They have ranged from $437 to $747.24 over the past year.
Shares of Mountain View, Calif.-based Google have fallen 12 percent since Microsoft (nasdaq: MSFT - news - people )’s $42 billion bid for Yahoo (nasdaq: YHOO - news - people ) was announced Friday. Google reported its quarterly earnings after the market closed Thursday.
Stephen Houck, a former antitrust enforcer in New York state, predicted that Google could have a hard time raising antitrust concerns over the deal.
Additionally, on Sunday Goldman Sachs (nyse: GS - news - people ) analyst James Covello removed Google from the “Goldman Sachs Technology Favorite Growth” list, citing a recent sell-off in the shares. He noted the stock has fallen 14.1 percent since it was added to the list on Jan. 18, exceeding a stop-loss threshold.
In a note to clients, Covello attributed the sell-off to concerns about Google’s exposure to an economic downturn, particularly in light of the company’s fourth-quarter results, which missed Covello’s estimates and the Wall Street consensus.
However, the analyst maintained a “Buy” rating, and called the stock’s valuation compelling.

Article Source: http://articlenexus.com

Nidhi Gupta, the author of this blog is very much interested in Online marketing Issues. So to read more Internet Marketing related Issue please visit www.thewebmarketingblog.com and To read this post in detail please visit www.thewebmarketingblog.com

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