Will Google (GOOGL) Stock Takeoff Today After TV Set-Top Box Introduction?

NEW YORK (TheStreet) -- Google Inc.  (GOOGL) will today introduce a new TV set-top box as it moves quickly to take control of digital content in the home, battling Amazon.com (AMZN) and Apple (AAPL), the Wall Street Journal reports.

During its developer conference today, Gooigle plans to show off at least one small set-top box that resembles products like the Roku, Amazon's Fire TV, and Apple's Apple TV, sources say, the Journal notes.

Google's device will carry another company's brand, but will be powered by Google's new Android TV software designed to play movies, games and other content on TV, sources added.

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Users will reportedly be able to control the box using Android smartphones or tablets, and potentially other devices

Shares of Google are slighty higher in pre-market trade, up 0.25% to $573.96 .

TheStreet Ratings team rates GOOGLE INC as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:

"We rate GOOGLE INC (GOOGL) a HOLD. The primary factors that have impacted our rating are mixed some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures and reasonable valuation levels. However, as a counter to these strengths, we also find weaknesses including a generally disappointing performance in the stock itself, disappointing return on equity and feeble growth in the company's earnings per share."

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