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GOOG Volatile In A Down Market
Oil is tumbling more than 3% after the government reported a jump in applications for unemployment benefits to an 8-month high. As such, broader markets are down. Shares of GOOG, however, are swinging back and forth. Upcoming catalysts include news flow from Google I/O next week; continued Android momentum; regaining ground in China and pushing into other emerging markets; updated software, adoption and media partners for Google TV (see below); and progress in other newer initiatives (+1, location-based services, music-service, mapping, gaming, etc.). The stock trades at approximately 12x Enterprise Value / EBIT, inexpensive relative to peers and historical trading levels.Don’t Expect To See Google TV Next Week At Developer Conference (Electronista)
Google’s revamped Google TV won’t show at next week’s Google I/O conference, instead will be unveiled in “coming months,” according to insiders. But it will be launched with some partners in tow. Samsung and Vizio are said to be signing on to join Logitech and Sony. Google is known to be considering a practical reboot of the platform following a tepid launch late last year.
Android Takes Smartphone Lead For Second Quarter In A Row (Reuters)
Android is the dominant smartphone platform worldwide for the second quarter in a row, according to new research from Canalys. Android phones took 35% of the world’s smartphone market share during the first quarter. That’s up from 32.9% the quarter before. Apple’s share of the market was 19%, up from 16%. The big loser? Nokia’s share of the smartphone market sank to 24%, down from 39% last year. Read more at Business Insider.
Facebook And Google Get Ready To Battle Over Skype (Reuters)
Facebook and Google are both talking to Skype about either buying the company or forming a joint venture. This follows the web video conferencing service’s decision to delay its $100 million initial public offering. The synergies with Facebook would give users more than the lame messaging services currently. What Google would want with it (other than not wanting to share) when they already have Google Chat is less clear.
Facebook Serving Nearly One-Third Of All Display Ads In U.S. (comScore)
Facebook accounts for nearly one out of every three online display advertisements in the U.S. making the company the leading player in the online display market, as measured by comScore. No one else is even close. The social networking giant is far outpacing Yahoo and Microsoft, its two nearest competitors. Nearly 1.11 trillion display ads were delivered to U.S. web sites during the first quarter. Read more at Business Insider.
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