Will Alphabet (GOOGL) Stock Fall as EU Regulators Prepare More Charges Against Google?
NEW YORK (TheStreet) -- Shares of Alphabet (GOOGL) - Get Report are now up 0.64% to $711.79 on Friday morning as European Union competition regulators are preparing to issue additional formal charges against Google related to its behavior with its shopping service, sources told the Wall Street Journal.
The supplementary statement of objections will likely further the EU's prior claims that Google uses its search dominance to favor its own service in the shopping market, a source added.
This could shape the case to create potential precedents for how the tech giant operates in other domains, such as its local and travel services, the Journal noted.
In April 2015, the European Commission first filed formal charges against the Alphabet unit for favoring its comparison shopping service in search results.
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Separately, TheStreet Ratings Team has a "Buy" rating with a score of B+ on the stock.
The company's strengths can be seen in multiple areas, such as its compelling growth in net income, revenue growth, largely solid financial position with reasonable debt levels by most measures, solid stock price performance and reasonable valuation levels.
Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
You can view the full analysis from the report here: GOOGL