|Bid||1,293.82 x 900|
|Ask||1,294.61 x 1800|
|Day's Range||1,292.15 - 1,302.50|
|52 Week Range||977.66 - 1,322.65|
|Beta (3Y Monthly)||1.01|
|PE Ratio (TTM)||27.80|
|Earnings Date||Feb 3, 2020 - Feb 7, 2020|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||1,456.59|
Google parent company, Alphabet, will be offering checking accounts to consumers starting next year. Project Cache will have Google partner with Citigroup and a credit union at Stanford University. Campus Reform Editor-in-Chief Cabot Phillips joins Yahoo Finance’s Zack Guzman and Sibile Marcellus to discuss on YFi PM.
Google will soon be offering checking accounts direct to consumers. Yahoo Finance’s Brian Sozzi, Alexis Christoforous and Ethan Wolff-Mann discuss on The First Trade.
Even as cash stockpiles continue to dwindle at corporations, a select few tech firms have hoarded a chunk of these reserves
(Bloomberg) -- U.S. antitrust enforcers should stop Google’s proposed acquisition of Fitbit Inc. because the deal will further consolidate the search giant’s control over consumer data, a coalition of privacy and consumer advocates said.The $2.1 billion takeover would allow Google to entrench its monopoly power in the digital marketplace, the groups said Wednesday in a letter to the Federal Trade Commission.“Through its vast portfolio of internet services, Google knows more about us than any other company, and it should not be allowed to add yet another way to track our every move,” they said.Alphabet Inc.’s Google is a leader in digital data, and Fitbit would give it a new stream of valuable health and activity data from Fitbit’s more than 28 million users. The purchase will mean Apple Inc. and Google control more than half of the global smartwatch market. Apple had 46% of this growing sector at the end of the second quarter, while Fitbit had 10%, according to research firm Strategy Analytics.A Google spokesman didn’t immediately respond to an email seeking comment about the letter to the FTC, which was signed by Open Markets Institute, the Center for Digital Democracy, Consumer Federation of America, and the Electronic Privacy Information Center, among others.A spokeswoman for the FTC didn’t immediately respond to a phone call and an email seeking comment.The deal is likely to face a stringent antitrust review. Google and other big internet companies are already under scrutiny at both the FTC and the Justice Department. A group of state attorneys general is also investigating whether Google’s business practices harm competition. Both Republicans and Democrats also have been strongly critical of practices by big technology and internet companies.Google is separately under scrutiny by the U.S. Department of Health and Human Services over its access to personal health data as part of a project to build a new internal search tool for the Ascension hospital network.\--With assistance from Ben Brody.To contact the reporter on this story: David McLaughlin in Washington at firstname.lastname@example.orgTo contact the editors responsible for this story: Sara Forden at email@example.com, Molly SchuetzFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Nvidia's diverse portfolio of GPU functionalities gives me confidence that this firm is going to continue to impress the markets in the years to come.
BMO and REX Shares via MicroSectors today launched the MicroSectors FANG+ Exchange Traded Note (FNGS), the first and only FANG+ linked ETN. The NYSE® FANG+™ Index includes 10 highly liquid stocks that represent industry leaders across today’s tech and internet/media companies, including Facebook (FB), Apple (AAPL), Amazon (AMZN), Netflix (NFLX), and Google (GOOGL), at 10% each. The goal is to provide a better barometer of tech.
(Bloomberg) -- Google’s top health and cloud executives said the company isn’t misusing health data from one of the biggest U.S. health-care providers, pushing back against news reports that have triggered criticism from lawmakers and prompted a federal inquiry.Google employees only have access to patient information in order to build a new internal search tool for the Ascension hospital network, said David Feinberg, head of Google Health. No patient data is being used for Google’s artificial intelligence research, he added.The Alphabet Inc. company’s contract is governed by U.S. health privacy law that permits it access to patient records solely for the task of organizing Ascension’s various health records systems and building a tool to make them easier to search, Feinberg said.“That’s all we’re allowed to do and that’s all we are doing,” he said.Google’s deal with Ascension has been under scrutiny since the Wall Street Journal reported on Monday the company was collecting identifiable data on millions of Ascension patients and using it to build new products. On Tuesday, the paper reported that the U.S. Department of Health and Human Services’ civil rights office was starting an inquiry into the situation.HHS’s Office of Civil Rights “would like to learn more information about this mass collection of individuals’ medical records with respect to the implications for patient privacy under HIPAA,” said Roger Severino, director of the office, in a statement Wednesday. HIPAA is the Health Insurance Portability and Accountability Act, the U.S. law that governs confidentiality and information sharing in health care and insurance, among other rules.Thomas Kurian, chief executive officer of Google Cloud, declined to comment on the inquiry.Google Gets Access to Health Data With Ascension PartnershipAscension’s health data is being stored on Google Cloud servers but sequestered so only Ascension employees can access it, according to Google.“All data is logically siloed to Ascension and housed within a virtual private space encrypted with dedicated keys,” Kurian said. “Google does not sell, share or otherwise combine data from Ascension with any other data.”Senator Richard Blumenthal, a Democrat from Connecticut, said Google’s activity was a “blatant disregard for privacy” and “beyond shameful.” News articles and social media posts have questioned why Google needs to collect patient information and speculated that the search giant could eventually use the data for advertising. That isn’t true, Kurian and Feinberg said in a joint interview.When Google does work with other companies on artificial intelligence research, it always strips out personally identifying information, Kurian said.“We never actually have Google employees understand individual patients’ data when it goes into the model. We have other technologies that de-identify it,” he said.Feinberg said his team is tapping Google’s expertise in search technology to build a tool that can scan through Ascension’s multiple electronic health record systems and make it easy for doctors and nurses to find the exact data they need, when they need it. The project is still in its infancy, but could eventually become a standalone product that Google could sell to other health-care providers and entities, Feinberg said.“If we can help solve the information overload and the pressures on doctors and nurses then there would be a huge benefit to a lot of people in those types of tools,” he said. “To me, that is actually really, really exciting.”\--With assistance from Mark Bergen.To contact the reporter on this story: Gerrit De Vynck in New York at firstname.lastname@example.orgTo contact the editors responsible for this story: Jillian Ward at email@example.com, Vlad Savov, Edwin ChanFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
(Bloomberg) -- Google is taking its deepest dive yet into the financial lives of its users with plans to roll out a checking-account service.Citigroup Inc. and a California credit union are the tech giant’s initial partners for the venture, which will let users access their bank accounts through the Google Pay app beginning next year, according to people familiar with the matter. Other banks could join up later, the people said, asking not to be identified because the plans haven’t been announced.“We’re exploring how we can partner with banks and credit unions in the U.S. to offer smart checking accounts through Google Pay, helping their customers benefit from useful insights and budgeting tools,” Google said in an emailed statement, adding that the accounts will carry federally guaranteed insurance.The move is the latest sign of Silicon Valley’s determination to muscle in on financial firms’ territory, looking to expand their hold on customers and accumulate data on their finances. At the same time, it shows banks are more willing to pair up with technology companies in their quest to avoid getting shut out of the relationship entirely. In the Google arrangement, the financial institutions will handle most of the compliance requirements.Google has spent years building out its payments capabilities, offering consumers the ability to send money to friends and check out both online and in stores through Google Pay. With the checking accounts, consumers will be able to receive their paychecks and transact solely inside the Google ecosystem.“We’re going to see more of this, but it’s not the death of banking,” Bryce VanDiver, a partner with Capco who advises banks and payment companies, said in a telephone interview. “Compliance is still being manged by Citi. If you look at banks’ core competencies, compliance being one of those, they’re really good at that.”The Wall Street Journal reported Google’s plan earlier Wednesday.For Google, the trove of data associated with checking accounts and financial products is another step in its push to collect information on all aspects of consumers’ lives. The firm has a wealth of information on consumers’ search behavior from its flagship site as well as partnerships with the largest U.S. health-care systems to analyze consumers’ health data. The move comes at a time when Google and other large tech companies are under increased scrutiny in D.C. with antitrust probes around competition law.“This is probably more about Google Pay and how they plan to position that going forward to access all financial products, not just credit cards,” VanDiver said.One of the people said Google partnered with Citigroup in part because the lender has spent the last year building out its digital banking arm, an effort that’s helped the bank gather more than $4 billion in deposits this year.“This agreement has the potential to expand the reach and breadth of our customer base while complementing our continued investments in digital,” Citigroup said in a statement. The partnership is a bit of a shift for Citigroup, which has been relying on marketing its digital bank accounts to existing customers in the firm’s sprawling cards business. The New York-based company said earlier this month it would offer special perks for checking accounts to customers of its co-brand credit card with American Airlines Group Inc.“This year we’ve increased the deposits we’ve raised digitally more than fourfold,” Anand Selva, who leads Citigroup’s consumer bank in the U.S., said at an investor conference this month. “As we continue to test and learn and enhance our digital capabilities and experiences, the digital deposit momentum has accelerated through the year.”For the finance industry, the worry is that tech giants could one day replicate the success of Alipay and WeChat Pay in China, where money flows through digital systems without the need for banks.To fight off the threat, banks are striking deals to keep a firm hold on their customers. Apple Inc. paired with Goldman Sachs Group Inc. this year to offer a credit card that extended $10 billion in credit lines as of Sept. 30. Uber Technologies Inc. announced last month that it would offer a bank account to drivers on its platform through a partnership with Green Dot Corp.(Updates with comments from Google, Citi starting in the third paragraph.)\--With assistance from Julie Verhage.To contact the reporter on this story: Jenny Surane in New York at firstname.lastname@example.orgTo contact the editors responsible for this story: Michael J. Moore at email@example.com, Steve Dickson, James HertlingFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Greener and leaner transportation is a top priority for most industrialized countries currently, and smart solutions such as scooters, electric vehicles and bullet trains are quickly gaining popularity
Tensions are escalating between employees and management at Google Inc., with the company saying it has just fired one employee and placed two others on leave. Bloomberg reports that Alphabet Inc.-owned Google has fired a worker for allegedly leaking employee names and personal data to the media, while the suspended workers are accused of violating company policy — one for searching for and sharing confidential documents not related to their job, and the other for tracking the calendars of staff in various departments. None of the three have been named, but two other employees told Bloomberg that the suspended workers were based in the U.S. The documents at the heart of one suspension concern a Chrome browser tool that was recently installed on computers at the company, according to Google employees that Bloomberg spoke with.
Alphabet Inc (NASDAQ: GOOGL), Yahoo, and Microsoft Corporation (NASDAQ: MSFT) have taken the lead for years as organisational tools but this might be about to change with Dayhaps calendar app that is considered as the ‘Whatsapp for calendars', the app makes it easy to create single and group calendars. The biggest advantage of Google is obvious: it is integrated with the kingdom of other Google products, but also to-do lists and booking tools. Back in 2015, Microsoft acquired Sunrise, a free calendar app that was developed by former Foursquare designers only a few years before it was acquired.
When businesses such as Google Maps, Waymo and the Google Cloud Platform get valued on their own, the valuation given to Google's main profit engines looks fairly cheap.
Google wants to expand its reach to consumers by offering a checking account through a partnership with banking giant Citigroup Inc (NYSE: C ), The Wall Street Journal reported. What Happened The Alphabet ...
Alphabet Inc's Google said on Wednesday it will offer personal checking accounts next year through its Google Pay app in partnership with Citigroup Inc and a small credit union at Stanford University. The project, named Cache, comes as rivals Facebook Inc and Apple Inc are expanding their own efforts in consumer finance, a broad area that ranges from digital payment apps to bank accounts, brokerage accounts and loans, and which offer Silicon Valley new sources of revenue and new opportunities to strengthen ties with users. The scrutiny most recently prompted Facebook's partners to pull back from plans to support the launch of a digital currency.
The details of the project, named Cache, were first reported by the Wall Street Journal and follow moves by tech heavyweights Apple Inc and Facebook Inc into the financial industry this year. Facebook's plan to launch its Libra cryptocurrency has met with skepticism from regulators, worried about the risk of money laundering and the security of transactions and user data.
Despite stories of questionable use of health care data, my concern with GOOGL is technical: We need a retest of $1,250 to $1,275 before we can move significantly higher.
Alphabet stock continues to shrug off worries about the health-care-data partnership Project Nightingale. Will it continue to hold up?
Result: readers will recall that Alphabet missed EPS expectations quite badly on consistently robust revenue growth. The squeeze on margin came from higher effective tax rates, a significant loss in equity investment (probably at least partially attributable to Uber ), a legal settlement in France, and a fast growing payroll. The example used was a bull call spread (+ Jan $1300 call, -Jan $1350 call) that in minimal lots would have required a net debit of $17.00 or $1,700.
(Bloomberg) -- In the four years since it was founded, Convoy Inc. has assembled a lineup of big-name investors that includes Bill Gates, Jeff Bezos and Marc Benioff. It’s adding one more to the list: Al Gore.The former U.S. vice president’s sustainability-focused investing fund, Generation Investment Management LLP, led a $400 million funding round for Convoy, which makes software to connect freight shippers with truck drivers. T. Rowe Price Group Inc. co-led the investment with Gore’s firm, Convoy said Wednesday. The deal values the startup at $2.75 billion.Convoy is often described as “Uber for trucking”—a moniker that took hold before Uber Technologies Inc. set up a competing business. Uber has committed to hire 2,000 people to expand freight operations in Chicago. Another rival business in the United Arab Emirates, Trukker, said Tuesday it received a $23 million investment led by a Saudi Arabian venture capital fund.A big part of Convoy’s pitch is that it can improve the trucking business by making it more efficient, both financially and environmentally. Transportation is the largest source of U.S. emissions today, and heavy-duty trucks represent about 13% of those emissions. Convoy’s service is designed to eliminate unnecessary driving by ensuring trucks can get loads on each trip. The business isn’t yet profitable, but Dan Lewis, the chief executive officer, has said it will be eventually.Customers include Procter & Gamble Co. and Anheuser-Busch InBev NV. Among the investors in the new funding round are Alphabet Inc.’s CapitalG, Baillie Gifford, Durable Capital Partners, Fidelity Investments and Lone Pine Capital. The new funds are expected to help the company accelerate its expansion and fend off competition from upstarts, as well as the likes of J.B. Hunt Transport Services Inc.\--With assistance from Dina Bass and Thomas Black.To contact the reporter on this story: Emily Chasan in New York at firstname.lastname@example.orgTo contact the editors responsible for this story: Mark Milian at email@example.com, Anne VanderMeyFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Stocks turned mixed Wednesday after reports said the U.S. and China have hit a snag over farm purchases. Alphabet slipped after The Wall Street Journal reported that federal regulators started a probe into Google's 'Project Nightingale' cloud computing deal with Ascension Health. Alphabet is Real Money's Stock of the Day.
Alphabet is the 'Stock of the Day' at Real Money Wednesday. The company confirmed that there was a federal inquiry into its deal with Ascension and a project called Nightingale where Google was supposedly accessing and analyzing Ascension patient data without patient or doctor knowledge. St. Louis- based Ascension is the largest Catholic health system in the world and the largest non-profit health system in the United States.