GOOG (NASDAQ:GOOG) Up Strong Versus Tech
Stocks are up mid-day as stronger labor market and manufacturing data lifted sentiment after three days of losses. Shares of GOOG are up versus a falling tech tape. Catalysts include continued Android momentum in the smartphone and tablet markets worldwide; Motorola acquisition approval and integration (see below); regaining ground in China; resurgence of Google TV; the roll-out of Google Music, social network Google+ and Google Wallet; and progress in other newer initiatives (location-based services, mapping, gaming, daily deals, etc.). The stock trades at approximately 12.6x Enterprise Value / EBIT.
Ice Cream Sandwich Is Finally Here With The Galaxy Nexus (Bloomberg)
The next version of Android is now available. Verizon began selling the Galaxy Nexus today, the first phone in the U.S. to feature Ice Cream Sandwich, Google’s newest Android operating system. The Nexus also runs on Verizon’s LTE technology. The lines to purchase the phone don’t exactly inspire the imagery of an Apple launch with people camping out days in advance or having local news interviewing people, but this new Android phone has attracted some devoted fans willing to wait in line to buy it.
Is Google+ Really A Game Changer? (Mashable)
New York Times bestselling author Chris Brogan is ready to crown Google+ a game changer. “Search is probably the biggest reason it changes everything. Second, a very wealthy company is pushing Plus to be a very powerful effort to change the way we share information on the web. They’ve spent money on commercials during many mainstream events, and they’ve changed up many of their disparate applications and processes to point harder toward Google+. They’ve really quickly moved towards building a social backplane that is a lot more functional than any other social network.” He says so much more, but that boils the ocean.
Google’s Top Salesman Is On The List Of Potential Yahoo CEO (Business Insider)
A source close to Yahoo says the “buzz is deafening” that Google’s chief business officer, Nikesh Arora, is on “the very short list” of candidates to become CEO of Yahoo. A second source, friendly with Yahoo board members and Google executives, tells us: “Yes, he is on the shortlist from what I’ve heard.” There is no confirmation on this, so treat it as a pervasive rumor making the rounds at Yahoo. The other name still being floated in these circles is David Kenny, Yahoo board member and former president of Akamai.
Smartphone Penetration Growing Gangbusters, Up To 44% – BGR
Smartphone penetration over the past two years has exploded, jumping from just 18% in the third quarter of 2009 to 44% during this last quarter according to Nielsen. Smartphone penetration has grown dramatically across all age ranges over the past two years, and young adults remain the most likely to own a smartphone; 53% of U.S. cell phone users aged 18 to 24 and 64% aged 25 to 34 now own smartphones according to Nielsen. The most popular phone in the country during the third quarter 2009 was a feature phone, the Motorola RAZR, while Apple’s iPhone 4 wore the crown last quarter.
Heather Leonard is the Google analyst at Business Insider.