December 15th, 2015

Company Update (NASDAQ:GOOG): German court rejects suit by publishers against Google

[Reuters] – A Berlin court rejected on Friday a legal complaint filed by German publishers which said Google was abusing its market power by refusing to pay them for displaying newspaper articles online. Germany’s biggest newspaper publisher, Axel Springer, and 40 other publishers had accused Alphabet Inc’s Google of unfair treatment. The conflict centred on a long-standing row over payments for newspaper content, which Google makes freely available via its online platforms Google News , YouTube and other services. Read more on this. Alphabet Inc. (GOOG) , currently valued at $482.62B, began trading this morning at $695.03. A quick look at the market, the company’s stock traded between $694.06 and $703.08 with a trailing 52-week range being $515.18 to $789.87. Google (GOOG) shares are currently priced at 20.20x this year’s forecasted earnings, which makes them relatively expensive compared to the industry ’s 6.67x earnings multiple for the same period. Consensus earnings for the current quarter by the 36 sell-side analysts covering the stock is an estimate of $7.93 per share, which would be $1.05 better than the year-ago quarter and a $0.13 sequential increase. The full-year EPS estimate is $34.52 which would be a $4.94 better than last year’s full-year earnings. The quarterly earnings estimate is predicated on a consensus revenue forecast of $20.28 Billion. If reported, that would be a 17.50% increase over the year-ago quarter. More recently, Goldman upgraded GOOG from Neutral to Buy (Aug 26, 2015). Previously, Atlantic Equities upgraded GOOG from Neutral to Overweight. The average price target for GOOG shares by the analysts covering it is $924.42, which is 33.00% above where the stock opened. See more in (NASDAQ:GOOG) Similar Articles: Market Update (NASDAQ:GOOG): Google Dumps Its Think Tank Market Update (NASDAQ:GOOG): Google’s think tank has become its own company called Jigsaw Company Update (NASDAQ:GOOG): Google wins U.K. court case filed by Streetmap
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