Google parent Alphabet Inc (NASDAQ:GOOG) soared in afterhours trading after a US judge's ruling indicated that it will not have to separate off its Chrome browser business. Alphabet Class A shares rose 7.1% to $226.30 and Apple Inc (NASDAQ:AAPL, ETR:APC) rose 3%, after Judge Amit Mehta ruled that the ongoing $20 billion search deal between the two tech behemoths will remain and not be barred in its current form.
Google's shareholders had plenty to celebrate in after-hours trading on Tuesday, September 2nd, with the stock jumping 6% following what can only be described as a major legal victory after a federal judge ruled that Google won't be forced to sell its Chrome browser as part of the antitrust penalties – a decision that removes one of the biggest clouds hanging over the tech giant.
Google avoided divesting Chrome in an antitrust ruling, boosting its stock 6.7% in after-hours trading. Analysts see the ruling as largely favorable for the search giant and raised Google's stock targets.
Shares of Google's parent company popped in after-hours trading, after a federal judge ruled that the tech giant doesn't have to sell its Chrome browser, a major win for the search giant that soothes worries it might have had to give up a key part of its business.
A US federal judge has ordered a major makeover of Google's search engine in a crackdown aimed at addressing the damaging effects of monopolistic practices.
The judge's decision positions Google to keep its search business running largely without interruption.
Google will not face a forced breakup of its online search monopoly, a federal judge ruled on Tuesday while unveiling what some experts saw as a softer-than-expected crackdown that rejected the Justice Department's harshest proposed remedies.
This is a developing story. Check back for updates.
Judge Amit P. Mehta ruled on Tuesday that Google must hand over some of its search data to rivals, in a landmark antitrust case.
Alphabet's Google must share data with competitors to open up competition in online search, a judge in Washington ruled on Tuesday, while rejecting prosecutors' bid to make the internet giant sell off its popular Chrome browser.
The European Union is reportedly pausing its plans to fine Google over its AdTech practices. That pause, Bloomberg News reported Tuesday (Sept.
Google's TPUs are the best alternative to Nvidia's chips and are seeing growing interest, according to D.A. Davidson analysts, who think a potential spinoff of the business would be worth about $900 billion.