Google Inc. (NASDAQ:GOOG), based in Mountain View, California, won an appeal to delay a copyright court case by the Authors Guild of America regarding the world’s biggest search engine giant aiming to digitally scan millions of books while it appeal a verdict that permits the applicants to sue as a class.
United States Circuit Judge Raymond Lohier of the U.S. Court of Appeals in Manhattan on modany offered Google’s request to stay the lower-court inquiry. Lohier reported that he was not ruling on Google’s likelihood of prevailing on petition. He reported in his order that the Authors Guild did not file any resistance to Google’s request.
World’s biggest search engine site owner is being considered for prosecution over its plan to scan millions of books from public and university libraries to offer snippets of text to users of its Internet search engine.
Shifting reader’s focus to broader market, let’s consider market performance of other stocks that significantly affect same sector. AOL, Inc (NYSE:AOL) fell -0.74% to settle at $33.66, Rediff.com India Limited (ADR) (NASDAQ:REDF) moved down -4.85% to end at $4.12 while SINA Corp (NASDAQ:SINA) dropped -2.72% to finish at $65.79 on Wednesday.
Google Inc.’s (NASDAQ:GOOG) last session volume of 1.51 million shares was higher than its average volume of 2.18 million shares. The stock after opening at $708.11 hit high price of $712.88 and then closed at $709.98 by scoring +0.04%.
GOOG generated revenue of 43.16 billion in the following twelve months and earned $11.11 billion. The Company showed a positive 25.74% in the net profit margin as well as in its operating margin which remained at 30.48%. Company’s annual sales growth for the past five year was 29.01%.
The GOOG’s past twelve months’ price to sales ratio was 5.38 and price to cash ratio remained 5.38. As far as the returns are concerned, the GOOG return on equity was recorded as 19.04% and return on investment increased 17.21% while its return on asset stayed at 14.72%.
The stock showed weekly upbeat performance of +1.31% which was maintained for the month at +5.52%. Likewise the positive performance for the quarter was recorded as +24.37% and for the year was +29.87% while the YTD performance remained at +9.92%.
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