Digital News Report – Stock and oil prices fell today while gold increased in value. The dollar declined against the yen but gained against the euro.
The share price of Google Inc. (NASDAQ:GOOG) fell 4.54% in trading today but continued to decline in after-hours. The stock hit $554.45 -1.26 (-0.23%) as of 6PM PST.
There are several factors affecting the stock price. The Google e-book reader, which was hoped to be released this summer, is getting closer to fruition. The company is also expected to release their own social networking site in April of 2011. Investors had expected the tablet to be released earlier.
Google was also being hit with an investigation from the European Commission. Small web-based companies have complained that the search giant has manipulated search results pushing their sites down the list.
There are numerous reports that Google will buy Groupon, a “localized” coupon site. Groupon is reportedly considering several options, including a public offering.
While Google was the biggest loser of the S&P 500 constituents, Bank of America was the biggest Dow Jones Industrial Average (DJIA) loser.
There are reports that the banking institution will be the next target for Wikileaks, the rogue investigative website. Wikileaks founder, Julian Assange, told Forbes that the website plans to post documents from an unspecified U.S. banking institution.
The leak will show unethical behavior. A year ago Computerworld Magazine said that Wikileaks was sifting through mountains of data from Bank of America.
By Mark Williams