How Will Alphabet (GOOGL) Stock React to Possible Record EU Antitrust Fine?
NEW YORK (TheStreet) -- Alphabet (GOOGL) - Get Report , the parent company of Google, could end up paying about 3 billion euros, or $3.4 billion, in fines in Europe if antitrust regulators find that the technology company restricted competition on its popular search engine, Reuters reports, citing the Sunday Telegraph.
The European Commission claims Google promotes its own shopping services when consumers use the search engine.
Antitrust officials are planning to announce the fine as well as measures to ban Google from manipulating search results in favor of its own products next month.
EU regulators began their case against Google in 2010 and have tried to settle with the Mountain View, CA-based company three times over the past six years.
Alphabet could be charged a maximum of 6 billion euros as Europe's antitrust watchdog can fine companies up to 10% of their annual sales, Reuters added.
Shares of Alphabet are up 0.02% to $725.01 in pre-market trading on Monday.
(Alphabet is held in Jim Cramer's charitable trust Action Alerts PLUS. See all of his holdings with a free trial.)
Separately, Alphabet has a "buy" rating and a letter grade of A- at TheStreet Ratings because of the company's 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.
You can view the full analysis from the report here: GOOGL
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 article's author.
