US search giant Google (NASDAQ:GOOG) is buying Sparrow, a small business that develops a useful app for using Gmail on the iPhone. The news arrived from Sparrow in a short blog post.
The firms did not reveal the takeover price and other terms, but one person talking about the deal reported that it was a million dollar deal, a very minute amount of money for leading search giant.
In a discussion held in March, Mr. Leca, CEO of Sparrow stated that Apple made it hard to get stuff from third parties on the phone.
Joining all of the other things from Facebook, Twitter, Google and things like this is something that we can include, he added. It looks compulsory for mail and that is not there due to political issues.
Its competitors include Facebook Inc (NASDAQ:FB) that slipped -0.83% to $28.76 with the total traded volume of 11.87 million shares and Yahoo! Inc. (NASDAQ:YHOO) that moved up 1.21% to $15.91 with the total traded volume of 16.92 million shares.
Other technology stocks with bullish trend include NetApp Inc. (NASDAQ:NTAP) up 0.24% to $31.19, QLogic Corporation (NASDAQ:QLGC) up 0.16% to $12.70 and MModal Inc (NASDAQ:MODL) up 0.14% to $14.48, whereas with bearish trend include PLX Technology, Inc. (NASDAQ:PLXT) down -4.55% to $5.46, Quantum Corp (NYSE:QTM) down -4.48% to $1.28 and Tellabs, Inc. (NASDAQ:TLAB) down -4.48% to $3.10.
Google Inc (NASDAQ:GOOG) surged 2.99% or +$17.76 to close the trading at $610.82 following it hit intra day high level of $612.94. The total traded volume in the previous trading session was 6.46 million shares as compared to average 2.31 million shares. Its fifty two week trading range was $480.60 – $670.25. The total market capitalization reached $199.14 billion.
The stock price was ahead its 52 week low price with 27.10% and it lagged behind -8.87% from its 52 week maximum mark. Stock price volatility for last month remained 1.76%. In its share capital, the company has 326.03 million outstanding shares out of which 258.84 million shares have been floated in the market. For now, stock ownership with company’s management remained 0.10%.
GOOG presented an optimistic weekly performance of 5.95% with respect to its rate of return and it remained 5.77% for the month. However, the performance for a quarter experienced a positive change of 2.48% and it surged 0.63% for a year and its year to date performance remained in red with -5.43%.
Current stock price is in the upbeat territory taking into account of 20 days moving average with +5.89% and continued bullish run for 50 days moving average with +4.51%. Its earning per share for the past twelve months was $32.99. Company’s beta coefficient was at 1.08. Beta measures the amount of market risk associated with market trade.
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