A large block order that represented 30% of the average daily volume was detected in GOOGL stock on January 6, 2020.
GOOGL stock faded higher after the large dark pool print which suggests it was a buy order.
The options flow was bullish today which also suggests the dark pool orders were buys.
Alphabet’s (GOOG) Google asked the U.S. Supreme Court to overturn a determination that the tech giant’s use of Oracle’s (ORCL) software for Android OS violated copyrights, Bloomberg’s Gerrit De Vynck reports. Google largely reiterated its well-established arguments in a case that has been contested for nearly a decade, namely that it was legal to use parts of Oracle’s Java programming language to help make Android communicate more easily with other software, De Vynch says. A defeat, the search giant claims, would restrict further innovation in the computing sector. Source: https://www.bloomberg.com/news/articles/2020-01-06/google-warns-of-monopoly-powers-in-oracle-fight-at-supreme-court
An analyst at Pivotal Research upgraded the stock to Buy on the belief shares will outperform the other large cap Internet names in 2020 as estimates move higher. Source: https://thefly.com/landingPageNews.php?id=3013275&headline=-Pivotal-says-buy-Alphabet-before-it-outperforms-large-cap-Internet-peers-in-
Pivotal Research analyst Michael Levine upgraded Alphabet (GOOG) to Buy from Hold with a price target of $1,650, up from $1,445. The stock closed Friday down $6.71 to $1,360.66. The shares will outperform the other large cap Internet names in 2020 as estimates move higher, Levine tells investors in a research note. He sees “multiple ways” for shareholders “to get paid” under CEO Pichai Sundararajan and is “encouraged by the durability” of Google’s revenue growth despite no real contribution from Google Discover ads. The latter “could be needle moving” in 2020, contends Levine.
On January 2, 2020, Reuters reported that a study found that an artificial intelligence system from Google’s DeepMind AI was as good as radiologists at detecting breast cancer and also showed promise in reducing detection errors, Reuters’ Julie Steenhuysen reports, citing the study that was published in the scientific journal “Nature.” Mozziyar Etemadi, one of the co-authors from Northwestern Medicine in Chicago, says the findings of the study represent a major advance in the potential for the early detection of breast cancer. The study showed the AI system could identify cancers with a similar degree of accuracy to expert radiologists, while reducing the number of false positive results by 5.7% in the U.S.-based group and by 1.2% in the British-based group, according to the report. Source: https://www.reuters.com/article/us-health-mammograms-ai/study-finds-google-system-could-improve-breast-cancer-detection-idUSKBN1Z0206
On December 31, 2019, the New York Post reported that Google (GOOG) is preparing to take traffic from food delivery companies like GrubHub (GRUB) and UberEats (UBER) with new food-ordering tabs that have recently appeared on its search engine, Lisa Fickenscher of the New York Post reported, citing experts. While Google’s food service may seem like standard competition for the various apps that aid in ordering food online, it appears similar to the manner in which the company has diverted traffic from online travel companies with Google Hotels. Google reportedly takes a piece of revenue from every transaction. Source: https://nypost.com/2019/12/30/googles-food-ordering-business-could-deliver-blow-to-grubhub-ubereats/