GOOG (NASDAQ:GOOG) Climbing Up With Markets
The market is coming back after losing early morning gains on reports that initial jobless claims beat expectations and the ECB’s decision to cut rates. Catalysts include Stephanie Tilenius, Vice President, Commerce, participation at the Citigroup Financial Technology Conference at 1:05pm ET on November 8; continued Android momentum in the smartphone and tablet markets worldwide; Motorola acquisition approval and integration; regaining ground in China; any signs of life for Google TV (including Motorola); 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 11.3x Enterprise Value / EBIT.
It’s Time For More Discipline At Google; Should Investors Worry? (Business Insider)
Matt Rosoff at Business Insider begs the question, what is going on at Google? The company has had more botched product launches and embarrassments in the last month than most companies have in a year. First, there was the Nexus Prime, canceling the event at the last minute out of respect for Steve Jobs’ death. Then the company accidentally released a video showing the new version of Gmail. This week took the cake, though. Google redesigned Reader and the Internet screamed with outrage. Then yesterday, Google released Gmail for iOS and pulled it a few hours later. Is Larry on vacation?
Google To Start Charging For Heavy Map Users (BBC News)
Google will start charging a fee to developers and websites that frequently access its Google Maps API service starting January 1. Developers will be charged $4 for every 1,000 views after Google Maps is accessed more than 25,000 times in a single 24-hour period. This is said to only affect 0.35% of its user base. They could likely start charging for any Google API they wanted.
What Third Calendar Quarter Says About The Advertising Market (Associated Press)
If you follow the advertising market (for publishing or Internet), this is a great summary of third quarter commentary:
- Google: Advertising revenue grew 33%.
- Gannett: Advertising revenue in its publishing businesses fell 8.5%.
- Yahoo: Revenue for display and search ads fell 28% with search ads dropping 44% (Yahoo started sharing revenue with Microsoft.)
- Omnicom Group: Earnings rose 16%.
- The New York Times: Advertising revenue at its newspaper properties fell 7%, hurt by a 10% drop in print ad revenue.
And so on and so forth. But overall, a solid recap.
Here’s A Peek At What $100 Million Will Get You On YouTube Channels (Business Insider)
Google announced it was giving 100 content creators more than $100 million to create original videos for YouTube. Business Insider perused the list to find the best of what will come out in the next few months. The people making the videos are great. The question is whether or not Google can promote them to create a truly disruptive media property.