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GOOG Up Slightly With Market
Stocks are up today, and shares of GOOG are trading up $2 this morning. Upcoming catalysts include continued Android growth; the release of Chrome operating system; regaining momentum in China; as well as progress in other newer initiatives (Google Me, gaming, social, etc.). The stock trades at approximately 16x Enterprise Value / EBIT, inexpensive relative to historical trading levels and the broader Internet group.
Android Unit Sales Up 1000% Year-Over-Year In Third Quarter (Canalys)
Research firm Canalys reported that the Android mobile operating system is up a whopping 1,309% year-over-year in the third quarter. This equates to 20 million handsets in 2010 versus 1.4 million last year. Android accounts for 43.6% of the smartphones sold last quarter. Apple is second at 26.2% with RIM following closely at 24.2%. Worldwide, however, Android still trails Nokia and the Symbian OS. Nokia has dipped to 33% market share with Android coming up the ladder at roughly 25%.
Google And Apple Fighting For Mobile Payment Company, BOKU (TechCrunch)
Both Google and Apple have been meeting with executives from BOKU, a “bank-grade payments technology,” spurring talk of acquisition and a possible bidding war. The current price tag on BOKU, which has brought in a number of big-name investors, could reach 9-digits, reportedly costing between $250-450 million. Read more about BOKU at Business Insider.
Brain Drain: AdMob Founder, Google Wave Creator Leave Google (eWeek)
Google saw two high-level departures last week, AdMob founder Omar Hamoui and Google Maps and Google Wave creator Lars Rasmussen. Rasmussen has gone to Facebook, a common trend recently. It’s unclear what Hamoui is leaving to do, however sources say it is a “big loss.” Overall, the AdMob integration doesn’t seem to be going well.
Google Suing The US Government For favouring Microsoft (CNet)
A court battle with the Feds sounds like something any company would want to avoid. But Google filed a suit which accuses the federal government of failing to give Google Apps a fair shake when searching for a Web-based documents system. And Microsoft is the co-conspirator. According to the lawsuit, Google never had a chance to host the Department of the Interior’s document system because the DOI required the winning system to be part of Microsoft’s Business Productivity Online Suite. Read more from Business Insider’s Microsoft expert Matt Rosoff.
New York City Might Be Going Microsoft, But NYU Is Going Google (Google)
NYU announced that it’s moving more than 60,000 students, staff and faculty to Google Apps for Education, providing cloud-based email and collaboration tools to the entire university community. This project is estimated to save the University around $400,000 annually. The community of NYU joins more than 10 million users from thousands of schools worldwide who have gone Google.