Google: Cleared for Motorola Takeoff, Ready to Drive

Google (NASDAQ:GOOG) is poised to buy Motorola Mobility (NYSE:MMI). The Wall Street Journal reported the Department of Justice could clear the deal as early as next week.

This buyout is significant because Google may be able to utilize Motorola’s patents. This in turn will help Google with Android’s licensee issues with Apple (NASDAQ:AAPL) and Microsoft (NASDAQ:MSFT).

In other news, Google is about to launch its cloud-computing service called Drive. It will allow users to store photos, videos and documents online. The serve will be free to the public, but heavy users will pay a charge. Google will be competing with Dropbox and Carbonite in the data storage market.

These two positive developments come one day after Google had some bad news in India. A court ordered material be deleted from India search results, Blogger, YouTube and the social-networking site Orkut, according to Google India spokesman Gaurav Bhaskar. Bhaskar said the content was removed from domains .in and .co.in, but can still be accessed from other countries, according to the report.

Here’s how Google shares recently traded:

Google Inc. (NASDAQ:GOOG): GOOG shares recently traded at $609.85,. They have traded in a 52-week range of $473.02 to $670.25. Volume today was 2,563 shares versus a 3-month average volume of 3,022,020 shares. The company’s trailing P/E is 20.49, while trailing earnings are $29.76 per share.

Motorola, Inc. (NYSE:MMI): MMI shares recently traded at $38.96,. They have traded in a 52-week range of $20.77 to $39.20. Volume today was 534,225 shares versus a 3-month average volume of 3,724,090 shares. The company’s trailing earnings are $-0.84 per share.

Apple Inc. (NASDAQ:AAPL): AAPL shares recently traded at $476.68,. They have traded in a 52-week range of $310.50 to $469.75. Volume today was 101,322 shares versus a 3-month average volume of 12,391,900 shares. The company’s trailing P/E is 13.57, while trailing earnings are $35.14 per share.

Microsoft Corporation (NASDAQ:MSFT): MSFT shares recently traded at $30.66,. They have traded in a 52-week range of $23.65 to $30.67. Volume today was 26,109 shares versus a 3-month average volume of 54,502,100 shares. The company’s trailing P/E is 11.11, while trailing earnings are $2.76 per share.

To contact the reporter on this story: Scott Gillette at staff.writers@wallstcheatsheet.com

To contact the editor responsible for this story: Damien Hoffman at editors@wallstcheatsheet.com