Wed, May 18, 3:47 AM
- Google (GOOG, GOOGL) will introduce its much-anticipated entry into the voice-activated home device market today at its annual developers' conference in Silicon Valley.
- Named Google Home, the device is a virtual agent that answers simple questions and carries out basic tasks, and will come to market in the fall.
- The gadget is also set to ratchet up competition with Amazon's Echo, which was introduced less than two years ago and has already sold an estimated 3M units.
Tue, May 17, 2:11 AM
- Alphabet (GOOG, GOOGL) has unveiled a pilot program that will enable several thousand San Francisco-area workers to hitch rides to or from work with its Waze navigation app. Riders will pay drivers $0.54 a mile, and the company won't take a cut during the pilot.
- Alphabet said it began testing its carpooling app, called Waze Rider, in Tel Aviv in July 2015. Thousands of people now use the app across Israel, where the tech giant takes a 15% commission for each trip.
Mon, May 16, 12:10 PM
- Leon Cooperman's Omega Advisors sold its roughly 3M share stake in Citigroup (NYSE:C) in Q1, which had accounted for about 3.4% of the fund's holdings.
- He took new stakes in PayPal Holdings (NASDAQ:PYPL), UnitedHealth (NYSE:UNH), Coach (NYSE:COH), Lowe's (NYSE:LOW), Autozone (NYSE:AZO), and Electronic Arts (NASDAQ:EA).
- Cooperman also cut his FANG exposure, selling more than 50% of his Facebook (NASDAQ:FB), and about one-third of his Google (GOOG, GOOGL).
- While the 13F also shows a new 227K share stake in Apple (representing 0.7% of the total portfolio), CNBC reports that holding has since been sold.
Mon, May 16, 2:06 AM
- European antitrust authorities will impose a record fine on Google (GOOG, GOOGL) in coming weeks for abusing its dominance of the online search market in the region, according to the U.K.'s Telegraph newspaper.
- The European Commission is planning to fine the tech giant about €3B, surpassing the toughest antitrust punishment to date - a €1.1B fine levied on Intel.
- Google will also be banned from continuing to manipulate search results to favor itself and harm rivals.
Wed, May 11, 2:59 PM
- Shares in Alphabet are slipping (GOOG -1.2%, GOOGL -1.3%) on news that the FTC is back asking questions about whether Google's abusing a dominant position in the search market.
- That means the agency could reopen a probe it closed over three years ago, Politico reports. It's been talking with a major rival who's raising objections again.
- Since what Google critics called a "slap on the wrist" back then, the search giant has faced increasing scrutiny over competitive behavior in Europe, over its shopping services and Android operating system.
- The report may not mean a full new investigation; a majority of commissioners would have to vote to go forward in a closed-door session.
- Now read Google IO: Positioning Android To Disrupt The PC Industry »
Wed, May 11, 4:29 AM
- The search giant faced off against Oracle (NYSE:ORCL) in a retrial on Tuesday over whether it infringed the latter's copyrights for the Java code to develop Android in 2006.
- If the new jury rules against Google (GOOG, GOOGL) on fair use, then it will consider Oracle's $9.3B damages request.
- Meanwhile, Russia's antitrust authorities today are expected to fine Google for misusing its Android dominance.
- The Internet company denies any wrongdoing, but the possible penalty - up to 7% of the company’s annual revenue in Russia - comes a month after EU officials made similar allegations.
Tue, May 10, 10:01 AM
- Amazon.com (NASDAQ:AMZN) is up 2.8% and touching an all-time high, just shy of $700/share, following news that it's launching its own YouTube-esque user video upload service.
- Users can start today in uploading their own or licensed videos to Amazon Video Direct, and earn royalties based on hours streamed. The company's users can even decide whether the videos are free to all, to rent or own, or offered as a subscription channel or behind the Prime paywall.
- That's a direct lineup with YouTube (GOOG +0.9%, GOOGL +0.9%) and another front in a rivalry with Google that now broadly covers shopping and Web services as well as areas like devices.
- Like YouTube, Amazon will keep 45% of revenues from ads on the free broadcasts. Users who choose to upload ad-free Prime videos will get $0.15/hour streamed in the U.S. and $0.06/hour overseas; Amazon keeps 50% of revenue from subscriptions, purchases and rentals.
- Launch partners include Conde Nast, The Guardian, Mattel and Mashable.
- Now read Amazon Web Services: The New Face Of Tech Giant's Profitability »
Wed, May 4, 2:01 PM
- Bloomberg reports Google/YouTube (GOOG +0.6%) is working on a subscription-based online TV service called Unplugged that's expected to debut as soon as 2017. Talks have been held with TV network owners such as NBCUniversal, Fox, CBS, and Viacom, but no rights have yet been secured.
- The report comes on a day that has seen Hulu announce it plans to offer live TV services to complement its on-demand content. It also arrives seven months after the launch of YouTube Red, a $10/month service that combines ad-free YouTube access with the Google Play Music subscription service. YouTube could potentially bundle Red with an online TV service.
- Sony and Dish Network currently provide online TV services, and Verizon appears set to launch a rival offering later this year. Apple reportedly suspended plans to enter the young market due to stalled licensing talks, but still wants to enter at some point.
- In other news, ad agency giant IPG's Magna Global unit has struck a multi-year deal to spend $250M on YouTube ads at this Digital Content NewFronts ad sales presentations. Notably, the money will come from Magna's TV ad budget rather than its online ad budget, and is 4-5x the firm's typical YouTube budget. AdWeek says Magna will now "spend less on traditional marketing overall this year as TV ratings dip."
- Now read Alphabet Counting On Cloud And YouTube
Tue, May 3, 4:35 PM
- Fiat Chrysler Automobiles (NYSE:FCAU) and Alphabet's (GOOG, GOOGL) Google plan to build 100 Pacific minivans together as part of a partnership between the two companies.
- Google will take deliver of 100 slightly-tweaked 2017 Pacificas to make the necessary autonomous driving installations.
- John Krafcik, an automobile industry heavyweight now at Google, says partnerships with other manufacturers are still part of the tech company's future strategy.
- Previously: Google and Fiat Chrysler talk car project (April 28)
Fri, Apr. 29, 10:09 AM
- With little prospect of settlement, Google (GOOG +0.6%, GOOGL +0.7%) is headed for its first European Union sanction this year, sources tell Reuters.
- The company has no further plan for a settlement after three failed compromise attempts since 2016, sources said, and neither party has much left in the way of incentives to reach a deal.
- That means a likely sanction in the test case tied to Google's shopping service, which European regulators charged was favored by its search results. A second charge recently followed over Google's Android operating system.
- Last week's news that Google and Microsoft were burying the hatchet may be a sign that Google will strike a deal with the EC, and avoid repeating Microsoft's own damaging fight with Europeans (That company ended up with fines of more than €2.2B after a decade-long fight).
- Now read Alphabet/Google Approaching A Fork In The Road »
Thu, Apr. 28, 3:02 PM
- Re/code reports Rick Osterloh, once the President of Motorola Mobility (sold by Google to Lenovo in 2014), is rejoining Google/Alphabet (GOOG -1.3%) to run a new division encompassing all of Google's hardware products. The news comes a month after Lenovo announced Osterloh is leaving as part of a restructuring.
- Products covered by Osterloh's unit include Google's Nexus hardware line, its Chromecast HDMI stick, Chromebook laptops, the OnHub home router, the Project Ara modular phone initiative, and (notably) Google Glass. Glass has been overseen by Nest Labs chief Tony Fadell, recently the subject of multiple reports regarding employee discontent within Nest (particularly within its Dropcam home camera unit).
- Fadell, still Nest's CEO, will reportedly remain an "adviser" to the Glass team. An enterprise-focused version of Glass has been in development under his watch.
- Earlier: Google reportedly in advanced talks with Fiat Chrysler for self-driving car partnership
Thu, Apr. 28, 12:30 PM
- Fiat Chrysler Automobiles (NYSE:FCAU) is in advanced discussions with Google (GOOG, GOOGL) over a car project, according to CNBC which cites a Dow Jones report.
- It's no surprise that Fiat is looking to partner up with all its talk about industry consolidation, while Google has been at the forefront of the self-driving car technology push.
- Shares of Fiat Chrysler are up 2.63% on the day. Google parent Alphabet is down 0.5%.
Tue, Apr. 26, 8:24 AM
- A mix of tech and automobile companies are collaborating on a self-driving car initiative with a political goal.
- The coalition includes Ford (NYSE:F), Volvo (OTCPK:GELYF), Uber (Private:UBER), Lyft (Private:LYFT), and Alphabet (GOOG, [[GOOGLE]]).
- The group will push the U.S. government to develop a set of standards for self-driving cars to help the burgeoning technology.
- Now read Toyota: The Cradle Of Innovation In The Automotive Industry
Sun, Apr. 24, 11:41 PM
- The Information reports Google (GOOG, GOOGL) is building a startup incubator called Area 120. Teams of Google employees will be able to submit business plans to join Area 120, and those accepted can work on their projects full-time for a few months. Afterwards, they’ll be able to pitch Google on creating a new company that Google would take a stake in.
- Like other tech giants, Google has seen plenty of talented workers depart over the years to launch startups, with some of the efforts proving to be huge successes (examples include Twitter and Instagram). Area 120 represents an attempt to keep such entrepreneurial workers within the Google empire (to an extent), and profit along the way.
- Cisco (NASDAQ:CSCO) has some experience in this field, via “spin-ins” such as data center switch developer Insieme Networks (founded by Cisco engineers and acquired in full in 2013 for $863M). However, new CEO Chuck Robbins has suggested he’s not a big fan of the spin-in model, and would rather have small internal startup teams whose work remains fully owned by Cisco.
Sun, Apr. 24, 6:27 PM
- via Credit Suisse, the 15 hottest large cap "rising stars," followed by the number of large cap funds that own them, and the change vs. prior quarter.
- SYF - Synchrony Financial, 74 | 47
- MSFT - Microsoft, 350 | 36
- GOOGL - Alphabet 324 | 39
- MCD - McDonald's, 104 | 24
- DAL - Delta Air Lines, 114 | 19
- GPN - Global Payments, 34 | 19
- TSN - Tyson Foods, 61 | 18
- CVX - Chrvron, 180 | 17
- DFS - Discover, 90 | 16
- RTN - Raytheon, 85 | 16
- WFC - Wells Fargo, 250 | 16
- GIS - General Mills, 63 | 15
- JPM - JPMorgan Chase, 276 | 15
- URI - United Rentals, 36 | 15
- CBS - CBS Corp., 65 | 14
- CMCSA - Comcast, 223 | 14
- "We are wary of owning too many Rising Stars, as the potential for differentiation has diminished,"
Fri, Apr. 22, 2:45 PM
- Alphabet (GOOG -5.2%, GOOGL -5.5%) is lower today after a Q1 miss driven by ad price declines, and nearly a dozen analysts have come in with price target declines.
- Notably, all of those maintain Buy ratings, suggesting a valuation adjustment and some product-based catalysts ahead.
- The lowest targets on GOOGL came from SunTrust Robinson Humphrey and Morgan Stanley, trimming to $850 from $875 and $900 respectively. GOOGL is trading at $737.49.
- SunTrust's Bob Peck says "the bull/bear debate will center around the secular cost headwinds from mobile and programmatic TAC and the incremental core investments vs. solid ex-FX topline results, the inherent leverage of the platform and incremental cash flows.”
- On another end of the scale, Oppenheimer trimmed its target to $958, and Credit Suisse maintained its target at $920, saying “Google continues to show signs of opex control and controlled capex as both came in below our expectations, which led to better-than-expected adjusted EBITDA.” Macquarie actually boosted its target, to $890.
- Other cuts: Baird, to $860 from $880; FBN, to $875 from $925; B. Riley, to $875 from $930; Stifel Nicolaus, to $888 from $930; JMP, to $904 from $916; and Jefferies, to $925 from $950.
- Now read Did Alphabet Wreck Tech? »
Alphabet, Inc. is a holding company, which engages in the business of acquisition and operation of different companies. It operates through the Google and Other Bets segments. The Google segment includes its main Internet products such as Search, Ads, Commerce, Maps, YouTube, Apps, Cloud,... More
Industry: Internet Information Providers
Country: United States