Google Stock Tops $500, And Boeing Leads Gain in Dow
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NEW YORK, Nov. 21 -- Wall Street drifted to a slightly higher finish Tuesday, as investors shied away from taking new positions in a week shortened by the Thanksgiving holiday. Despite the market's languid tone, Google surpassed $500 for the first time.
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Google Inc.  stock jumped more than 12 percent on Wednesday to new highs, pushing the Web search leader past eBay Inc.  as the biggest Internet company in terms of stock market value, after trouncing quarterly earnings forecasts.
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The price of Google shares soared Friday, evoking memories of the Internet bubble among some Wall street analysts and traders.
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Stocks rose on Wednesday after news  of an $11.5 billion retailing deal and solid earnings from  computer maker Hewlett-Packard Co. HPQ.N, but a rise in oil  prices caused stocks to trim gains.
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CHICAGO/SAN FRANCISCO  - Shares of Google Inc.  GOOG.O hit a new high on Monday as traders who had shorted  the stock scrambled to buy back scarce shares after the Web  search leader's better-than-expected quarterly results last  week.
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(InfoWorld) - With U.S. markets closing for Thanksgiving, Google Inc.'s skyrocketing share price andÂ Dell Inc.'s earnings report are ending the fall trading season on a high note. Both developments, which pushed the Nasdaq Composite Index to rise 11.14 points and close at 2465.98 before the Thanksgiving break, highlight positive underlying trends but are shadowed by questions about long-term profits. Google (ticker symbol: GOOG), breaking the US$500 share-price mark Tuesday and staying above the magic number until Thanksgiving, has a market value greater than any media company and all IT companies except for Microsoft Corp. and Cisco Systems Inc. Google's lead in online search helps it grab a lion's share of online advertising revenue. Earlier this month, the Interactive Advertising Bureau (IAB) and PricewaterhouseCoopers LLP (PwC) reported that companies spent about $4.2 billion on online ads in the third quarter, as the market grew for the eighth consecutive quarter. But what happens when that growth inevitably slows? Google, expected to generate $2.8 billion in profit this year, is spending enough on R&D to defend its search turf and challenge Microsoft and other software developers in a new generation of Internet-based applications. It is hiring developers at a dizzying rate, and there's no doubt its young talent is generating a wealth of ideas. Most analysts polled by Thomson First Call expect shares to go higher still. Meanwhile, analysts applauded Dell's earnings report, issued Tuesday: Research firm Bear Stearns immediately boosted its rating from "peer perform" to "outperform" while Needham & Co. upped its rating from "hold" to "buy." Shares of Dell (DELL) jumped by $2.31, to close Wednesday at $27.13 Dell said third-quarter net income was $677 million and earnings per share were $0.30. This compares with a profit of $606 million last year, and earlier expectations of $0.24 per share, according to a survey by Thomson Financial. At first blush, the earnings look great. Dell's gross profit margin increased to 17 percent from 15.5 percent in its disastrous second quarter. Following Hewlett-Packard Co.'s tremendous report last week, when it said it quadrupled quarterly profit, this suggests that manufacturers may not have to rely on deep discounts going forward. Dell pointed to strong sales of servers based on Advanced Micro Devices Inc. chips, suggesting that the hardware market is invigorated by competition with Intel Corp. But Dell is under investigation by the U.S. Securities Exchange Commission for possible accounting misstatements. It still has not submitted a confirmed, official earnings report. The quarter's figures, as well as prior-quarter numbers, may be restated. Also, while Dell may be doing well in the server market, its notebook sales are not rising as fast as the market in general, and HP notebook sales growth is outpacing Dell's. Adding insult to injury, HP has overtaken Dell in PC sales. So while the hardware market is doing better than expected earlier this year, the spoils may not be evenly divided. Â
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Stocks opened little changed on Tuesday as Boeing Co.  received a $5.5 billion order for planes and brokerages upgraded Medtronic Inc.  and Adobe Systems Inc.
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Stocks rose for a third day and the Dow Jones industrial average closed at a record on Thursday, helped by a share-buyback plan from Caterpillar Inc. and a sizable aircraft order for Boeing Co.
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The long-anticipated day is here. Google stock begins trading on the Nasdaq, even though mediocre market conditions and some fumbling by the company have taken the bloom off the rose.
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U.S. stocks to watch: GOOGLE INC.  GOOG.O Google shares jumped 18 percent in their long-awaited  stock market debut on Thursday after a scaled-down $1.67  billion IPO marked by missteps and lackluster market  conditions. The stock closed at $100.34.
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U.S. stock futures rose to morning  highs on Friday, indicating the market would open slightly  higher, after better-than-forecast earnings from Web search  company Google Inc. sparked tech shares.
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Stocks resumed their November advance yesterday after an increase in oil prices lifted Exxon Mobil, the worldâs biggest energy company, and shares of Google surpassed $500 for the first time.
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NEW YORK - Stocks edged higher Wednesday as bargain hunters shrugged off rising oil prices, but Google Inc.'s decision to slash its estimated initial public offering price sapped some enthusiasm from the market.    In morning trading, the Dow Jones industrial average gained 9.73, or 0.1 percent, to 9,982.56, reversing an earlier slide...
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Stocks gained on Friday, putting the Dow and S&P on track for their best week since March, after stronger-than-expected results from software maker Oracle Corp  helped the profit picture for technology.
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Google's stock set yet another milestone during trading Tuesday, surpassing the $500 mark for the first time ever. As of Tuesday afternoon, the company was one of six to be trading at the $500-plus level.
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U.S. stocks were little changed on Tuesday as investors hesistated from taking new positions in a holiday-shortened week, while shares of Boeing Co.  rose to a record on a large order for planes.
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Stocks edged higher on Tuesday as investors were cautious about taking new positions in a holiday-shortened week, but shares of jet aircraft manufacturer Boeing Co.  and Web search leader Google Inc.  hit record highs.