Google Inc. (NASDAQ:GOOGL) has been working extremely hard to make its fiber optic project a success; however even before the project could expand substantially it already has its rival, AT&T. The company’s new service called “GigaPower” will soon start operating in Kansas City. This is an interesting choice by AT&T because Google also started its project from the same location. Google will now have to compete for its customer pool by offering even better services and rates because AT&T will offer services identical to Google, which will create a competitive atmosphere in the region.
It seems Google just cannot hide itself from antitrust complaints; the latest in this regard is a complaint filed by Yandex, which is a Russia-based research firm. According to the registered complaint, Google is monopolizing search on mobiles by forcing its users to make Google their primary search engine; it does so by bundling up its other services and mobile search engine with its very own Android Operating System.
In other important news; it is believed that Facebook hopes to increase its collaboration with Google for providing access to the internet across the globe. Facebook’s Mark Zuckerberg believes that it won’t be possible for just one company to connect everyone around the world; he expressed his pleasure at companies working together to make it happen. After this all-important news Facebook’s stock went up in value by 1.27%.
Google hopes to make its YouTube Music Key service available to a wider audience across the globe. YouTube Music Key is a subscribed service, which will be launched within a few months. According to Robert Kyncl, Head of Content for Streaming Services at YouTube, said that the service was still being fine-tuned and has been the company’s center of focus for quite some time. This subscription service will have no ads and will let its subscribers watch online videos without any internet connection. Moreover Google will also soon launch a YouTube app for kids videos that will feature parental control.
Let’s see how last week’s news reflected on Google’s stock value;
Monday, Feb 16 – the market did not open due to the President’s Day.
Tuesday, Feb 17 – the Google stocked started its week at the stock market by opening at a value of 551.16 and went up as high as 550.40. The stock hit its lowest mark at 543.26 and finally ended the day at a value of 545.01.
Wednesday, Feb 18 – Google’s opening share value for the day was 543.76 and went up as high as 547.55. The lowest value for the internet giant’s stock was recorded at 539.55; whereas its closing value for the day was 542.65.
Thursday, Feb 19 – the stock kicked off the Thursday’s morning session at a value of 542.47, slightly lower than its previous day’s closing value. The figure went up as high as 546.86 and as low as 540.75. The stock closed the trading session at a value of 546.45.
Friday, Feb 20 – Google Inc.’s (NASDAQ:GOOG) stock opened up at the market at 546.90 and hit its highest mark for the day at 547.58; the lowest mark was recorded at 538.10 (lowest value for the entire week) whereas the closing value was 541.80.