Google Stock Falls on Outlook - Analyst
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Shares of Google Inc. fell almost 9 percent on Friday after an analyst forecast a sharp drop in the price over the next 12 months as the Internet search company grows more slowly.
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A surprise jump in hiring and operating expenses shook investor confidence in Google Inc.  for the second time in its three years as a public company, sending its shares down 6 percent on Friday.
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Stocks declined on Wednesday after a report showing weaker-than-expected U.S. economic growth underscored worries about a recession and Yahoo Inc  forecast 2008 revenue below expectations.
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(InfoWorld) - Despite a drop in Google Inc. share price after its Wednesday earnings announcement, investor confidence in the IT sector appears to be high as earnings season winds down. Google's announcement came in the wake of strong results by its online rivals but as usual it outshone them -- at least, in the eyes of analysts. The company reported net income of US$997 million, or $3.18 per share, for the quarter ending in December. Analysts polled by Thomson Financial had forecast $2.92 per share. Several major brokerages including Goldman Sachs Group Inc., Merrill Lynch & Co. Inc. and RBC Capital Markets Inc. raised their already-high share-price forecasts on the company. Company shares plunged however, dropping $19.75 to close at $481.75 Thursday. Analysts shrugged this off, ascribing the decline to unusually high expectations for the company. While the company dominates online ad sales, the tremendous amounts of cash it is burning in R&D and acquisitions -- mainly its $1.65 billion acquisition of YouTube Inc., announced in October, may have investors nervous, analysts pointed out. "Google continues to invest for the long term, and while that may temper results in the near term, we believe it is the right thing to do for the business" wrote UBS analyst Benjamin Schachter in a research note. Dell Inc. shares dropped Thursday after its late-Wednesday announcement that Michael Dell would be taking back the CEO reins from Kevin Rollins, who had been in that role for two and a half years. The company also announced that it now expects its fourth quarter fiscal year 2007 results to be below the average of Thomson Financial estimates for both revenue and earnings per share. Dell has been hit with a hardware price squeeze and has lost its edge as rivals such as Hewlett-Packard Co. have matched or bettered the company's logistics and supply-chain management techniques. Earlier this month, IDC reported that Dell's shipments in the U.S., more than 50 percent of Dell's sales, were down 17 percent for the year as HP overtook the company as the world's leading PC supplier. Dell shares dropped by $0.42 to close at $23.80 Thursday. Despite the concerns about Dell and Google, investor confidence in IT remains high. Though a few major IT vendors, such as Cisco Systems Inc., have yet to announce quarterly earnings, strong results from eBay Inc., Sun Microsystems Inc., Yahoo Inc., and EMC Corp. over the past few weeks suggest that several sectors within the wider IT market will enjoy at least moderate growth this year. The tech-heavy Nasdaq, which slumped earlier this month on warnings from chip makers and a few software vendors, has been rising lately, and Thursday gained 4.45 points to close at 2468.38. Â
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Google Inc. stock dropped more than 6 percent yesterday as tens of millions of new shares held by early investors and employees of the search engine giant became available for sale for the first time.
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SAN JOSE, California - Initial shares of Google Inc. were priced late last night at $85 US each -- the low end of estimates that the company had revised downward hours earlier.
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A surprise jump in hiring and  operating expenses shook investor confidence in Google Inc.   for the second time in its three years as a public  company, sending its shares down 6 percent on Friday.
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Shares of Google Inc.  fell 6.67 percent on Tuesday, as selling restrictions were lifted on 39 million shares held by employees and early investors in the newly public Web search company.
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Shares of Google slipped after the search engine warned, for the second time in a week, that its fourth-quarter revenue growth rate is likely to slow from previous quarters.
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Shares of Google Inc. (GOOG.O: Quote, Profile, Research) fell almost 3 percent on Thursday, after the Web search leader warned it could not sustain in revenue growth rate, a sign
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U.S. shares were expected to open lower  on Wednesday after crude oil pushed to a fresh high overnight,  while Web search engine Google Inc. dented sentiment as it  slashed the price range on its initial public offering.  In a statement posted on its IPO Web site, Google said it had  cut the range on its IPO to $85-$95 per share from $108-$135  previously, a 26 percent reduction at the mid-point of the  range.
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NEW YORK/SAN FRANCISCO  - Google Inc. GOOG.OQ on  Wednesday got the green light to go ahead with a downsized  version of its much-hyped initial public offering, meaning its  shares could trade on Nasdaq as early as Thursday.
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U.S. stocks fell on Wednesday, led by losses in technology shares after a disappointing forecast from business software maker Novell Inc.  and negative comments from a brokerage on Oracle Corp.
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Google Inc  on Thursday  reported a disappointing quarterly profit and aggressive  spending plans to support a widening range of Web services,  unnerving investors who sent its shares down 8 percent.
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U.S. stocks may fall at the market's  open on Wednesday after crude oil pushed to a fresh high  overnight and Google Inc. slashed its initial public offering  price, which appeared to dampen investor sentiment.
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Google Inc , the world's  top Internet company, on Thursday reported a  weaker-than-expected 17 percent rise in quarterly profit,  disappointing investors hungry for more and sending its shares  down 9.5 percent.
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Stocks are set to open lower on  Wednesday after crude oil pushed to a fresh high overnight and  Google Inc. slashed its initial public offering price, which  appeared to dampen investor sentiment.