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GOOG Up Strong As Market Bounces
Stocks have rebounded from their morning slide. The major equity averages are now in positive territory as investors divided their attention between Europe’s debt situation and a key Federal Reserve meeting. Shares of GOOG are up strong relative to the rest of technology. Catalysts include continued Android momentum in the smartphone and tablet markets worldwide; Motorola acquisition approval and integration; regaining ground in China in search and pushing forward in mobile; any signs of life for Google TV (including Motorola); the roll-out of Google Music and social network Google+; and progress in other newer initiatives (location-based services, mapping, gaming, Chromebooks, etc.). The stock trades at approximately 11.6x Enterprise Value / EBIT, inexpensive relative to historical trading levels.Google Readying NFC Google Wallet For Primetime (GigaOM)
Google is finally opening up its near field communication (NFC) payment system, Google Wallet, to the public, allowing Nexus S users on Sprint to try out contactless payments through their smartphone. It’s a little later than originally expected and again, with only one handset that supports it, but is just the first step in a long process. It begins a much broader effort by Google to change the way people pay for goods. Google announce has struck deals with American Express, Visa and Discover so their cards will also be integrated into future versions of Google Wallet.
Motorola Set To Launch A 7-Inch Android Tablet (This Is My Next)
Motorola (Google) could be set to release a 7-inch Android powered tablet that is even thinner than the Xoom according to leaked photos. CEO Sanjay Jha has noted his company’s intentions to launch a 7-inch tablet a number of times. If you compared the images to the size of the unknown phone in the background, appears to sport a 7-inch form factor. It is also still unclear when the tablet will be announced, if ever, or what kind of hardware it packs under the hood.
Google Expands Offers To Europe Through Acquisition (PE Hub)
Google snatched up Berlin-based DailyDeal, a company that provides Groupon-style daily deals across Germany, Austria and Switzerland. The company was launched as a two-person start-up in December 2009 and has quickly grown, with a reported 252,000 vouchers sold in the first quarter of this year. This is the third acquisition within a two-month span aimed at strengthening Google’s own daily deals offering, Google Offers.
Google Creating Its Own Flipboard After Being Turned Down (All Things D)
Along with nearly every other Web platform and publisher, Google is reportedly readying its own Flipboard-esque social-news reader, according to Robert Scoble. He says “I heard from someone working with Google that Google is working on a Flipboard competitor for both Android and iPad.” Google approached Flipboard last year about potentially buying the company.
The EU Still Can’t Decide If Google Violates Antitrust (Reuters)
The European Union still can’t decide if Google’s massive presence in the web search business can be classified as an abuse of dominance that’s hurting competition for others in the field. Google has the majority of all search traffic requests, but an “abuse of dominance” is not the same as dominance itself. If Google is found in violation of abusing its dominance, it could face a fine of up to 10% of its global financial turnover.
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