Why Google (GOOGL) Stock Is Gaining This Afternoon

NEW YORK (TheStreet) -- Shares of Google Inc. (GOOGL) are higher by 2.02% to $584.09 after the company showcased its Android TV software which will run on set-top boxes, at the I/O conference today, Value Walk reports.

Android TV lets users speak commands to their TV, and features a "smart home screen" designed to recommend shows to users based on their viewing history.

The software will be able to find content in the Google Play store and through the company's partners Hulu and Netflix (NFLX), Value Walk adds.

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This is Google's latest TV software following its Chromecast device which is a small plug-in accessory that allows users to stream video to their TV from their smartphone or tablet.

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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