Thursday, June 24, 2010

Gleacher & Co. Maintains a 'Buy' on Google (GOOG); Wins Summary Judgment in Viacom/YouTube Case

Gleacher & Co. maintains a 'Buy' on Google (Nasdaq: GOOG), comments on recent events. 

Gleacher analyst says, "Given all the recent negative press that GOOG has received with regards to regulatory/legal issues (Street View scandal, ongoing anti-competitive concerns, China, consumer privacy), we view it as a meaningful positive that GOOG has come out on the winning side of its $1bil YouTube copyright infringement case with Viacom (NYSE: VIA) (NYSE: VIA.B). Only time will tell whether this ruling will "stick" (Viacom plans to appeal) and if so, whether the ruling will have any impact on the broader regulatory/policy approach to online content." 

"On an unrelated note, GOOG announced yesterday (at an event for the Motorola Droid X phone (NYSE: MOT)) that roughly 160k Android devices are shipped daily (up from 100k earlier this year), indicating that GOOG's attempt to build a mobile ecosystem based on Android is succeeding beyond most initial expectations." 

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