Google Corp. (NASDAQ:GOOG)’s newly acquired Motorola Mobility division intends to get out of the feature phone market by the conclusion of this year, according to DigiTimes reports, mentioning a story in the Chinese-language Commercial Times.
After the news, Google Inc (NASDAQ:GOOG) dropped -1.92% or -$10.98 and was trading at $560.50 at 11:05AM EDT following it hit intraday high level of $568.09.
The story proposes that Google could turn its focus to the creation of innovative items, instead of low-cost phones for the Chinese segment.
In other news, Google made total of $37 billion ads selling previous year. But it’s a huge ad buyer, also: US leading search engine spent an overall $1.5 billion selling itself in 2011, according to Ad Age reports. That figure would increase considerably this year, since Google is now in the phone-selling segment, because of its $12.5 billion Motorola buyout.
Its competitors include Facebook Inc (NASDAQ:FB) that slipped -2.07% to $32.37 with the total traded volume of 9.48 million shares and Yahoo! Inc. (NASDAQ:YHOO) that dropped -1.38% to $15.40 with the total traded volume of 3.10 million shares.
Other technology stocks with bullish trend include International Game Technology (NYSE:IGT) up 0.33% to $15.13, Leap Wireless International, Inc. (NASDAQ:LEAP) up 2.93% to $5.98 and Hoku Corporation (NASDAQ:HOKU) up 29.86% to $0.144, whereas with bearish trend include Intel Corporation (NASDAQ:INTC) down -2.31% to $26.31, Research In Motion Limited (USA) (NASDAQ:RIMM) down -6.04% to $9.26 and Micron Technology, Inc. (NASDAQ:MU) down -2.00% to $5.62.
The total traded volume in the current trading session is 474,717.00 shares as compared to average 2.66 million shares. Its fifty two week trading range is $473.02 – $670.25. The total market capitalization reached $182.74 billion.
The stock price was ahead its 52 week low price with 18.84% and it lagged behind -16.13% from its 52 week maximum mark. Stock price volatility for last month remained 1.81%. 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 1.23% with respect to its rate of return and it remained -6.23% for the month. However, the performance for a quarter experienced a negative change of -11.07% and it surged 19.00% for a year and its year to date performance remained in red with -11.52%.
Current stock price is in the downbeat territory taking into account of 20 days moving average with -2.23% and continued bearish run for 50 days moving average with -5.52%. 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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