Original Story: thestreet.com
NEW YORK (TheStreet) -- Google (GOOGL - Get Report) shares are slumping 0.31% to $653.30 on Monday after Russia's antitrust regulator found that the search giant violated the country's antitrust rules, The Wall Street Journal reports. A Denver antitrust lawyer is following this story closely.
Google was guilty of "abusing its dominant market position," but not of "unfair competition practices," the regulator told the Journal.
This action comes after Russia's Federal Antimonopoly Service (FAS) started the probe back in February. Russia's Internet firm Yandex (YNDX) often called the "Google of Russia," had asked the country's regulator to look into whether or not the tech giant violated Russia's antitrust rules.
Yandex specifically pointed to Google's Android operating system and how the company bundles apps with the system, according to the Journal. A Charleston unfair competition attorney represents clients in matters involving deceptive trade practices, domain infringement issues, and in non-compete and non-disclosure agreements.
The regulator's decision will "help restore competition on the market," Yandex added.
Shares of Yandex are jumping 7.99% to $12.17 on heavy trading volume in Monday's afternoon trading session.
Based in Mountain View, CA, Google builds technology products and provides services to organize the information.
Separately, TheStreet Ratings team rates GOOGLE INC as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:
"We rate GOOGLE INC (GOOGL) a BUY. This is driven by several positive factors, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, reasonable valuation levels, increase in net income and good cash flow from operations. We feel its strengths outweigh the fact that the company has had somewhat disappointing return on equity."
Highlights from the analysis by TheStreet Ratings Team goes as follows:
GOOGL's revenue growth has slightly outpaced the industry average of 6.9%. Since the same quarter one year prior, revenues rose by 11.1%. This growth in revenue does not appear to have trickled down to the company's bottom line, displayed by a decline in earnings per share. An Aiken unfair competition lawyer is reviewing the details of this case.
Although GOOGL's debt-to-equity ratio of 0.05 is very low, it is currently higher than that of the industry average. Along with this, the company maintains a quick ratio of 4.60, which clearly demonstrates the ability to cover short-term cash needs.
The company, on the basis of net income growth from the same quarter one year ago, has significantly outperformed against the S&P 500 and exceeded that of the Internet Software & Services industry average. The net income increased by 17.3% when compared to the same quarter one year prior, going from $3,351.00 million to $3,931.00 million.
Net operating cash flow has increased to $6,985.00 million or 24.13% when compared to the same quarter last year. In addition, GOOGLE INC has also modestly surpassed the industry average cash flow growth rate of 19.50%.
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