Alphabet (GOOGL) - Get Report shares were unmoved by President Donald Trump's latest attack the Google parent Tuesday after his accused the company of "very illegal" activity during the 2016 Presidential election.
Trump cited an interview late Monday on Fox News with Kevin Cernekee, a former Google engineer who was fired for mis-using company equipment and has accused the company of suppressing his conservative political beliefs, as well as those of his colleagues.
"Lou Dobbs stated that this is a fraud on the American public," Trump said Tuesday. "Peter Schweizer stated with certainty that they suppressed negative stories on Hillary Clinton, and boosted negative stories on Donald Trump. All very illegal. We are watching Google very closely!"
Google shares were marked 1.4% higher Tuesday, nearly twice the gain of the Nasdaq Composite index, and changing hands at $1,171.19 each by late morning, a move that extends the stock's six-month gain to around 4%.
"They made every excuse in the book to avoid taking down something that made Donald Trump look bad," Cernekk told Fox's Tucker Carlson. "And I saw a number of other incidents just like that.
"They thought Trump should have lost in 2016," Cernekee said. "They really want Trump to lose in 2020. That's their agenda."
A Google spokesperson told TheStreet Tuesday that the statements made by "this disgruntled former employee are absolutely false."
"We go to great lengths to build our products and enforce our policies in ways that don't take political leanings into account," the spokesperson said. "Distorting results for political purposes would harm our business and go against our mission of providing helpful content to all of our users."
Last month, Trump said he would "take a look" at Google's practices with respect to China and other foreign governments after Billionaire tech investor and Facebook (FB) - Get Report board member Peter Thiel singled out the company Google in a speech to the National Conservatism conference.
Shortly after, however, Google shares had their best day in four years after it posted stronger-than-expected second quarter earnings last night as gains from YouTube ads and its burgeoning cloud business supported topline growth.
Google said earnings for the three months ending in June came in at $14.21 per share, up 21% from the same period last year and well ahead of the Street consensus forecast of $11.30 per share, Group revenues also surprised to the upside, following the group's first quarter disappointment, rising 19% to $38.9 billion and topped analysts' estimates of a $38.15 billion tally.
Google also said its costs were largely unchanged from the same period last year -- at around $29.8 billion -- even as its operating margin improved by 6% from the previous quarter to around 24%, a firmer-than-expected reading that suggests continued profitability. Google's cloud business, while only around a quarter of the size of Amazon Inc.'s AMZN, had an annual revenue run-rate of $8 billion.