Google Corp. (NASDAQ: GOOG) announced that it has received an enquiry letter from a House committee. The letter pertains to the recent allegations leveled against the company. Google has been accused of tracking its users’ locations. House committee has sent such letters to six mobile operating system developers including Google and Apple. Apple has been asked to respond to the letter by May 9. Nokia, Microsoft, Hewlett Packard, and Research in Motion have also received similar letters. The committee is headed by Fred Upton.
The companies have been asked to provide detailed data about the tools used by them. They are also expected to disclose the ways in which this data is used. Google had been held responsible of such breaches in the past as well. It was accused of collecting data while working on its Google streets project.
The company stock is currently trading at $525.56, up 0.10 percent from its previous close. The stock’s 50 days moving average price is $580.83 whereas its long term moving average price is at $561.68. The stock is currently trading below both the averages. Google stock opened at $525.83 and touched the high of $526.13. The stock’s lowest price in today’s session is $525.21. The company stock’s EPS is $27.28. The company stock has traded in the range of $433.63 and $642.96 during the past 52 weeks. The company’s market cap is $168.98 billion and its P/E ratio is 19.27.
Google Inc. is a technology company and is involved in various online businesses. The company also offers advertisement services. The other products of the company include email, maps, documents, Images and books. Google Inc. is also involved in mobile phone segment. The company has come up with a mobile OS called Android. The company was formed in 1998 and is based out of California.
Google reported its total current assets at $41.562 billion for the year ending Dec 31, 2010. Its total assets were worth $57.851 billion for the same time period. Google had valued its total liabilities at $11.610 billion. The company had reported its revenue at $29.321 billion and its gross profit for the year at $18.904 billion. Google’ net income for the year stood at $8.505 billion.
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Post Written By: Ed Liston
Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing in his yacht.
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