Google Stock Rises 8% After Judge Rejects Severe Antitrust Penalties
By
colesantiago
Crackling crust, pillowy middle. The kind of bagel that earns a second cup of coffee.
Summary
Alphabet's stock surged 8% after a U.S. District Judge ruled against the most severe penalties proposed by the Department of Justice in Google's antitrust case. The judge rejected demands for Google to divest its Chrome browser, which provides valuable data for its advertising business. This ruling comes nearly a year after Google was found to hold an illegal monopoly in internet search, but investors are celebrating what they view as minimal consequences from the historic legal defeat.
Key quotes
· 4 pulledAlphabet shares popped 8% in extended trading as investors celebrated what they viewed as minimal consequences from a historic defeat
U.S. District Judge Amit Mehta ruled against the most severe consequences that were proposed by the Department of Justice
Google will not be required to divest Chrome; nor will the court include a
Last year, Google was found to hold an illegal monopoly in its core market of internet search
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