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Google stock is up nearly 9% this afternoon. That's after U.S. District Court for the District of Columbia Judge Amit Mehta imposed lighter than expected penalties after finding Google guilty of violating Section 2 of the Sherman Act, where Google was found to have illegally maintained monopolies in general search services and search text advertising markets, according to Mehta's ruling.
Wall Street analysts moved quickly to raise price targets on Google's parent company Alphabet Inc (NASDAQ:GOOG) after a US District Court issued a broadly favorable ruling on antitrust remedies, with both Wedbush and Oppenheimer framing the decision as a decisive win for the company. Wedbush said the Department of Justice's case “folded like a cheap suit,” lifting its price target to $245 from $205 while reiterating an ‘Outperform' rating.
Alphabet (GOOGL) rallied off a U.S. district court judge ruling that the company can keep its Google Chrome browser. Cory Johnson makes the case that it's bearish for Alphabet.
Wall Street is steadying on Wednesday as Alphabet and other technology stocks rise.
A federal judge ordered steps in the search monopoly case that will restrain Google but not break it up, signaling a cautious antitrust approach by courts.
Rob Isbitts from Sungarden Investors Club talks again to analysts Julia Ostian, Jack Bowman, and Kenio Fontes. Market risks are rising as valuations stretch, yield curves steepen, and concentration in mega-cap tech increases vulnerability.
A federal judge ordered steps in the search monopoly case that will restrain Google but not break it up, signaling a cautious antitrust approach by courts.
CNBC's Steve Kovach with Wamsi Mohan, joins 'The Exchange' to discuss Apple
CNBC's MacKenzie Sigalos joins 'Money Movers' to discuss Google's win on legal ruling, why it's behind Apple shares jumping and the impact of the ruling on the AI race.
A pivotal antitrust ruling aimed at addressing Google's search monopoly may have handed Microsoft its best competitive opening in many years — but it's still a slim one, and it's not clear if the Redmond company will even consider it worth the effort.