Google Stock Tanks On Grim Financials; DOWN 8%

[presence]

Live: the Google Earnings Disaster
http://blogs.wsj.com/corporate-intel...ings-disaster/

According to Business Insider, some pretty serious allegations were aired on CNBC that Google had been calling analysts in advance of these numbers being released, trying to prepare them for bad results. That would be a much bigger scandal than the early release.

2:53 pm

Exactly how serious is this situation? Well, put it this way. Jim Cramer is wearing a helmet.

695.00 -60.49
(-8.01%)




http://www.bbc.co.uk/news/business-19995730

Trading in Google shares was suspended for two-and-a-half hours after the internet giant released its third-quarter results early by mistake.

Its quarterly profits fell 20% from a year earlier to $2.18bn (£1.35bn) - below analysts' expectations.
Google blamed financial printing firm RR Donnelley for filing an early draft of the results, which had been expected after the closing bell.
Shares in Google were down 9% when trading in the stock was suspended.
When trading resumed, the shares recovered slightly to end the day 8% lower.
Google chief executive Larry Page apologised to analysts on a conference call after the market closed.
"I'm sorry for the scramble earlier today," he said, adding that the company had had a strong quarter.

[Zippyjuan]

Time to buy?

[presence]

Buy gold, I don't recommend anyone gamble.

[Steven Douglas]

Google fucked up bad. That didn't just hurt Google - that hurt NASDAQ as well, so it's no wonder they cooperated so quickly in suspending trades. You don't draw that kind of negative focused attention to yourself during mid-day trades. Instead of waiting until after closing bell, third quarter earnings that showed a 20% 3rd quarter drop in income were posted by their printer right in the middle of midday trading! It was a piranha melee after that.

[VoluntaryAmerican]

Holy shit $650 a share? Seems high.

[BlackTerrel]

Holy shit $650 a share? Seems high.

How many shares are outstanding?

[Zippyjuan]

Apple is over $600 a share as well. Berkshire Hathaway is over $135,000 a share. http://www.google.com/finance?client=ob&q=NYSE:BRK.A They were down almost $400 but that is only like one quarter of one percent.

[presence]

Google fucked up bad. [] right in the middle of midday trading! It was a piranha melee after that.

+rep that's the meat and bones of it.

[nobody's_hero]

It's Ron Paul's fault. Once he dropped out people stopped googling Ron Paul and they lost 8% of their traffic.

[angelatc]

It wasn't technically Google's mistake - their publisher accidently hit the "send" button. The report that was released midday had a blank spot where the CEO remarks were to be inserted.

I thought the whole thing was pretty amusing.