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☆ DOJ fights uphill battle; Google a losing one
▼ + stars: | 2023-09-12 | by ( Ben Winck | ) www.reuters.com time to read: +5 min

The government, in its opening statements, argued that the $1.7 trillion company’s search engine partnerships illegally protected its monopoly, harming consumers. The problem for the DOJ is that consumers readily dole out their data, and not just to Google. Device manufacturers and browser creators choose Google because it’s the highest quality option, and users can easily pick another default search engine, John Schmidtlein, Google’s lead lawyer, argued. The government’s lawyers have their work cut out for them, but a DOJ loss won’t mean a Google victory. The company’s partnerships may set Google as the default search engine on devices and browsers, but users can usually change their default option with a few clicks.

Persons: General Merrick Garland, Jonathan Kanter, Kenneth Dintzer, Dintzer, Amit Mehta, John Schmidtlein, Google’s, DOJ doesn’t, Google's, Lauren Silva Laughlin, Sharon Lam Organizations: U.S . Justice, Alphabet's Google, Justice Department, Reuters, U.S . Department of Justice, Alphabet’s, Google, DOJ, Microsoft, Court, Big Tech, Alphabet’s Google, Thomson Locations: WASHINGTON

☆ India minister to propose higher diesel vehicle tax, warns automakers
▼ + stars: | 2023-09-12 | by ( Aditi Shah | ) www.reuters.com time to read: +2 min

A worker switches on a fuel pump before filling a car with diesel at a fuel station in New Delhi September 13, 2012. REUTERS/Mansi Thapliyal/File photo Acquire Licensing RightsNEW DELHI, Sept 12 (Reuters) - India's road transport minister, Nitin Gadkari, on Tuesday said he will propose an additional 10% tax on diesel vehicles and warned automakers of even higher levies to cripple their ability to sell such high-polluting vehicles. Gadkari said he will later in the day ask the finance minister for an "additional 10%" goods and services tax on diesel vehicles to tackle problems related to pollution. The Indian government currently imposes a 28% tax on diesel cars and an additional so-called "cess" is levied depending on the vehicles' engine capacity. Shares in Indian automakers Tata Motors, Mahindra and Mahindra, Ashok Leyland (ASOK.NS), and Eicher Motors (EICH.NS) fell between 1.5% and 4.5%.

Persons: Mansi, Nitin Gadkari, Gadkari, Maruti Suzuki, Ashok Leyland, Aditi Shah, Tanvi Mehta, Christian Schmollinger, Tom Hogue Organizations: REUTERS, New, Tata Motors, Mahindra, Maruti, Volkswagen, automakers Tata Motors, Eicher Motors, Thomson Locations: New Delhi, DELHI, India

☆ Landmark Google trial opens with sweeping DOJ accusations of illegal monopolization
▼ + stars: | 2023-09-12 | by ( Brian Fung | ) edition.cnn.com time to read: +8 min

Also being called anticompetitive are Google’s contracts to ensure that Android devices come with Google apps and services — including Google search — preinstalled, the Justice Department claimed. For Google’s opening statement, attorney John Schmidtlein said that Apple’s decision to make Google the default search engine in its Safari browser demonstrates how Google’s search engine is the superior product consumers prefer. The Google case “could not be more different” from the historic Microsoft litigation at the turn of the millennium, Schmidtlein continued. Google has previously said that consumers choose Google’s search engine because it is the best and that they prefer it, not because of anticompetitive practices. Google’s search business provides more than half of the $283 billion in revenue and $76 billion in net income Google’s parent company, Alphabet, recorded in 2022.

Persons: Sundar Pichai, Google’s, Kenneth Dintzer, ” Dintzer, John Schmidtlein, Apple, ”, Schmidtlein, Bing, General Merrick Garland, Anna Moneymaker, ” Schmidtlein, “, Kent Walker, Ken Buck, Trump, Global Affairs Kent Walker, Biden, Amit Mehta, Mehta Organizations: CNN, Google, Justice Department, Microsoft, Apple, Samsung, DOJ, Netscape, Gmail, U.S, The Justice Department, Global Affairs, Court, District of Columbia, Eastern, of Locations: United States, Washington, Apple . WASHINGTON, DC, Washington ,, California , New York , Colorado, Virginia, Colorado, of Virginia

WASHINGTON (AP) — Google will confront a threat to its dominant search engine beginning Tuesday when federal regulators launch an attempt to dismantle its internet empire in the biggest U.S. antitrust trial in a quarter century. If he decides Google broke the law, another trial will decide what steps should be taken to rein in the Mountain View, California-based company. Political Cartoons View All 1152 ImagesGoogle counters that it faces a wide range of competition despite commanding about 90% of the internet search market. One possibility is that the company could be forced to stop paying Apple and other companies to make Google the default search engine on smartphones and computers. Distracted, the software giant struggled to adapt to the impact of internet search and smartphones.

Persons: Judge Amit Mehta, Sundar Pichai, Larry Page, Eddy, Trump, Microsoft's Bing, Andy Bechtolsheim, Page, Sergey Brin, Justice Department's, litigator Kenneth Dintzer — Organizations: WASHINGTON, Google, Inc, Apple, Justice Department, Firefox, Regulators, Sun Microsystems, Microsoft, Netscape, Justice Locations: , California, Silicon

☆ Who’s Who in the Google Monopoly Trial
▼ + stars: | 2023-09-11 | by ( Cecilia Kang | More About Cecilia Kang | ) www.nytimes.com time to read: +1 min

A trial to determine if Google abused its monopoly in online search, which begins on Tuesday, is set to lay bare how the internet search giant cemented its power, featuring testimony from top tech executives, engineers, economists and academics. The trial will unfold in U.S. District Court for the District of Columbia, where a core group of individuals will command the courtroom and direct the day-to-day legal strategies. v. Google:From federal courtJudge Amit P. MehtaJudge Mehta, who was appointed to the bench in 2014 by President Barack Obama, will referee and decide the case in the nonjury trial. In a proceeding last month, he narrowed the lawsuit by the Justice Department and states while preserving the core argument that Google maintained its monopoly in search through deals with smartphone makers that cut out competitors. He received his law degree from the University of Virginia in 1997, a year before Larry Page and Sergey Brin founded Google.

Persons: Amit P, Mehta Judge Mehta, Barack Obama, Judge Mehta hasn’t, Judge Mehta, Larry Page, Sergey Brin Organizations: Google, District of Columbia, Justice Department, The Ohio State Law, University of Virginia Locations: U.S

The U.S. government is taking aim at what has been an indomitable empire: Google’s ubiquitous search engine that has become the internet’s main gateway. That's what happened to Microsoft after its antitrust showdown with the Justice Department: Distracted, the software giant struggled to adapt to the impact of internet search and smartphones. From Google's perspective, the perpetual improvements explain why most people almost reflexively gravitate to its search engine, a habit that long ago made “Googling” synonymous with looking things up. The Justice Department contends Google's claim that it dominates the market by supplying the best search engine is a canard. Google insists that consumers could easily switch their default settings to another search engine.

Persons: Judge Amit Mehta, Sundar Pichai, Larry Page, Eddy, Mehta isn’t, Sergey Brin, Andy Bechtolsheim, Page, Brin, Trump, Microsoft's Bing, Bing Organizations: Washington D.C, Microsoft, U.S, Google, Stanford University, Sun Microsystems, Inc, Apple, Justice Department, U.S . Justice Department, Yelp, Department, Firefox, Regulators Locations: Washington, , California, Silicon, Colorado

Google has grabbed a 90% market share in search in the U.S. in recent years, according to government estimates. Rather, the makers of phones and web browsers set Google search as their default because they wanted to deliver the "highest quality" experience for their customers, Google claimed in its January filing. The Justice Department has the burden to show that Google's business deals harmed competition for search. The trial court in that case found Microsoft unlawfully tried to block rival browser Netscape Navigator. The Google trial at the U.S. District Court for the District of Columbia is expected to last about 10 weeks.

Persons: Alphabet's, Rather, Judge Amit Mehta, Barack Obama, Mehta, Peter Navarro, Donald Trump, Stewart Rhodes, Mike Scarcella, Amy Stevens, Diane Craft Organizations: Microsoft, U.S . Justice Department, Apple, Google, Mozilla, The, Department, GOOGLE, Justice, DOJ, Netscape, U.S, District of Columbia, WHO, U.S . Foods, U.S . Capitol, Thomson Locations: Washington, U.S

☆ Google heads to court in a landmark trial that puts its search business in the crosshairs. Here's what's at stake.
▼ + stars: | 2023-09-11 | by ( Hugh Langley | ) www.businessinsider.com time to read: +7 min

It revolves around how Google pays partners to promote its search engine on their products. A law expert said the DOJ has a "pretty strong" case but has big hurdles to prove Google is liable. Much of the trial's outcome will be predicated on whether the deals Google made to promote its search engine excluded healthy competition. It's easy to switch your default search engine – we're long past the era of dial-up internet and CD-ROMs," Google's Walker said in a statement. It could also mirror a European Union decision to make Google give Android users a choice of search engine when they first set up their devices.

Persons: Harry First, Global Affairs Kent Walker, Amit Mehta, Google's Walker, William E, Kovacic, David Olson, Bing, Judge Mehta, Eddy, John Giannandrea, Adrian Perica, Sundar Pichai, Olson Organizations: Google, Department of Justice, DOJ, Service, Apple, Microsoft, NYU Law School, Global Affairs, George Washington University, Boston College, Reuters, Union, Street Locations: Wall, Silicon

DuckDuckGo, Microsoft (MSFT.O) and Yahoo are among a long list of Google competitors who will be watching the trial closely. “It would be difficult to overstate the importance of this case, particularly for monopolies and companies with significant market share,” antitrust lawyer Luke Hasskamp told Reuters. The lawsuit that goes to trial was brought by former President Donald Trump's Justice Department. read moreJudge Mehta will decide if Google has broken antitrust law in this first trial, and, if so, what should be done. Reporting by Diane Bartz; additional reporting by Mike Scarcella; editing by Diane CraftOur Standards: The Thomson Reuters Trust Principles.

Persons: Toby Melville, DuckDuckGo, Kamyl Bazbaz, Luke Hasskamp, ”, Amit Mehta, Barack Obama, Donald Trump's, Joe Biden's, Mehta, Daniel McCuaig, Cohen Milstein, Diane Bartz, Mike Scarcella, Diane Craft Organizations: Google, REUTERS, U.S . Justice, Apple Inc, Mozilla, Microsoft, Yahoo, Big Tech, Facebook, Reuters, Apple, Twitter, Big, U.S, District of Columbia, Department, Android, U.S . Justice Department's Antitrust, Thomson Locations: London, Britain, WASHINGTON, United States, “

☆ Google stands trial against US government officials in antitrust lawsuit over the company's accused search monopoly
▼ + stars: | 2023-09-10 | by ( Brian Fung | ) edition.cnn.com time to read: +5 min

Google’s search business provides more than half of the $283 billion in revenue and $76 billion in net income Google’s parent company, Alphabet, recorded in 2022. Now, the company is set to defend itself in a multiweek trial that could upend the way Google distributes its search engine to users. WASHINGTON, DC - JANUARY 24: U.S. Attorney General Merrick Garland speaks during a news conference on a new antitrust lawsuit against Google at the Justice Department on January 24, 2023 in Washington, DC. The Justice Department and states including California, New York, Colorado and Virginia, have filed a lawsuit against Google over the company's monopolization of the market for online ads. Despite that ruling, the trial represents the US government’s furthest progress in challenging Google to date.

Persons: Trump, Eddy, ”, Global Affairs Kent Walker, Biden, General Merrick Garland, Anna Moneymaker, Amit Mehta, Mehta Organizations: CNN, Google, Microsoft, Justice Department, Samsung, Apple, Global Affairs, U.S, The Justice Department, LG, Motorola, Mozilla, Opera, Court, District of Columbia, Eastern, of Locations: Washington, WASHINGTON, DC, Washington ,, California , New York , Colorado, Virginia, United States, Colorado, of Virginia

☆ Modi uses 'Bharat' for G20 nameplate, not India, amid name-change row
▼ + stars: | 2023-09-09 | by ( Tanvi Mehta | ) www.reuters.com time to read: +2 min

A giant screen displays India's Prime Minister Narendra Modi at the International Media Centre, as he sits behind the country tag that reads "Bharat", while delivering the opening speech during the G20 summit in New Delhi, India, September 9, 2023. India is also called Bharat, Bharata, Hindustan - its pre-colonial names - in Indian languages and these are used interchangeably by the public and officially. As Modi declared the summit in New Delhi open on Saturday, he sat behind a table nameplate that read "Bharat", while the G20 logo had both names - "Bharat" written in Hindi and "India" in English. Speaking in Hindi, the language spoken by a majority of the population, Modi said "Bharat welcomes the delegates as the President of the G20". While some supporters of the name Bharat say "India" was given by British colonisers, historians say the name predates colonial rule by centuries.

Persons: Narendra Modi, Anushree, Narendra Modi's, Bharat, Droupadi Murmu, Modi, Tanvi Mehta, YP Rajesh, Jacqueline Wong Organizations: International Media Centre, REUTERS, South, Bharat, Rashtriya Swayamsevak Sangh, Bhartiya Janata Party, BJP, Developmental Inclusive Alliance, YP, Thomson Locations: New Delhi, India, DELHI, Bharata, Hindustan, British, INDIA

☆ Modi Uses 'Bharat' for G20 Nameplate, Not India, Amid Name-Change Row
▼ + stars: | 2023-09-09 | by ( Sept. | At A.M. | ) www.usnews.com time to read: +2 min

India is also called Bharat, Bharata, Hindustan - its pre-colonial names - in Indian languages and these are used interchangeably by the public and officially. As Modi declared the summit in New Delhi open on Saturday, he sat behind a table nameplate that read "Bharat", while the G20 logo had both names - "Bharat" written in Hindi and "India" in English. Such placards have used "India" in the past. Speaking in Hindi, the language spoken by a majority of the population, Modi said "Bharat welcomes the delegates as the President of the G20". While some supporters of the name Bharat say "India" was given by British colonisers, historians say the name predates colonial rule by centuries.

Persons: Tanvi Mehta, Narendra Modi's, Bharat, Droupadi Murmu, Modi, YP Rajesh, Jacqueline Wong Organizations: South, Bharat, Rashtriya Swayamsevak Sangh, Bhartiya Janata Party, BJP, Developmental Inclusive Alliance, YP Locations: DELHI, India, Bharata, Hindustan, New Delhi, British, INDIA

[1/3] Peter Navarro, a White House economic adviser under former U.S. President Donald Trump, speaks to reporters outside the E. Barrett Prettyman Federal Courthouse in Washington, U.S., September 5, 2023. "The defendant choose allegiance to former President Trump over compliance with the subpoena," federal prosecutor Elizabeth Aloi told the jurors during closing arguments on Thursday. Navarro is a hawk on China policy who advised Trump on trade issues during his presidency and also served on the COVID-19 task force. Navarro became the second close associate of Trump to be convicted for spurning the committee after Steve Bannon was found guilty last year of contempt of Congress for similarly defying a subpoena and was sentenced to four months in prison. Trump supporters stormed the Capitol on the day that Congress met to certify Biden's victory, attacking police and sending lawmakers and others fleeing for safety.

Persons: Peter Navarro, Donald Trump, Barrett, Julia Nikhinson, Donald Trump's, Navarro, Trump, Elizabeth Aloi, Steve Bannon, Bannon, Judge Amit Mehta, Stanley Woodward, Jack Smith, Joe Biden's, Andrew Goudsward, Scott Malone, Will Dunham Organizations: REUTERS, Rights, Former U.S, Democratic, Trump, Republican, Justice Department, Congress, Capitol, Thomson Locations: Washington , U.S, Former, China, Washington

Peter Navarro, an advisor to former U.S. President Donald Trump, speaks to reporters as he arrives at the E. Barrett Prettyman Courthouse on September 7, 2023 in Washington, DC. A jury on Thursday convicted former Trump White House trade advisor Peter Navarro of two counts of criminal contempt of Congress. Navarro faces up to a year in prison, and U.S. District Court Judge Amit Mehta scheduled his sentencing for January 12. Woodward argued that prosecutors had failed to give evidence of where Navarro was physically at the time he was due to appear before the select House committee. Another former top Trump White House aide, Steve Bannon, was convicted last year of two counts of contempt of Congress for failing to comply with subpoenas issued by the House committee.

Persons: Peter Navarro, Donald Trump, Barrett Prettyman, Attorney Elizabeth Aloi, Navarro, —, Amit Mehta, Aloi, Stan Woodward, Woodward, Trump, Joe Biden, Steve Bannon, Bannon Organizations: Attorney, Trump White House, University of California Locations: Washington ,, U.S, Irvine

☆ Former Trump Adviser Navarro Convicted of Contempt of Congress
▼ + stars: | 2023-09-07 | by ( Sept. | At P.M. | ) www.usnews.com time to read: +3 min

"The defendant choose allegiance to former President Trump over compliance with the subpoena," federal prosecutor Elizabeth Aloi told the jurors during closing arguments on Thursday. Navarro became the second close associate of Trump to be convicted for spurning the committee after Steve Bannon was found guilty last year of contempt of Congress for similarly defying a subpoena and was sentenced to four months in prison. The panel sought to interview Navarro about a plan devised by him and other Trump allies, dubbed the "Green Bay Sweep," to delay Congress from certifying Democratic President Joe Biden's 2020 election victory. Navarro had said publicly that he was protecting the presidency by not sharing information with Congress. Trump supporters stormed the Capitol on the day that Congress met to certify Biden's victory, attacking police and sending lawmakers and others fleeing for safety.

Persons: Andrew Goudsward, Sarah N, Lynch WASHINGTON, Donald Trump's, Peter Navarro, Navarro, Trump, Elizabeth Aloi, Steve Bannon, Bannon, Judge Amit Mehta, Stanley Woodward, Jack Smith, Joe Biden's, Scott Malone, Will Dunham Organizations: Former U.S, Democratic, Trump, Republican, Justice Department, Congress, Capitol Locations: Former, China, Washington

☆ US prosecutors urge jurors to convict Trump ex-adviser Navarro for contempt of Congress
▼ + stars: | 2023-09-06 | by ( Sarah N. Lynch | Thomson Reuters | Sarah N. Lynch Is The Lead Reporter For Reuters Covering The U.S. Justice Department Out Of Washington | ) www.reuters.com time to read: +4 min

The House committee wanted to interview Navarro about a plan that was devised by Trump allies to delay Congress from certifying President Joe Biden's 2020 election victory. The committee ultimately issued the findings from its investigation in December 2022 without getting the chance to interview Navarro. "Congress believed that Mr. Navarro had information about what happened on Jan. 6, or more specifically about why it happened," Crabb said. "So Congress issued Mr. Navarro a subpoena. Steve Bannon, another key associate of Trump, was convicted last year of contempt of Congress for defying a subpoena from the same committee and sentenced to four months in prison.

Persons: Peter Navarro, Donald Trump, Donald Trump's, Navarro, Mr, John Crabb, he's, " Navarro, Trump, Joe Biden's, Jan, " Crabb, Judge Amit Mehta, Stan Woodward, Woodward, Steve Bannon, Sarah N, Lynch, Will Dunham Organizations: U.S, U.S . Capitol, White, Democratic, House, Capitol, Trump's, Trump, Prosecutors, Thomson Locations: Washington , U.S, WASHINGTON, Washington, China, U.S

☆ Google Turns to a Steady Old Hand to Fight Antitrust Charges
▼ + stars: | 2023-09-06 | by ( Nico Grant | More About Nico Grant | ) www.nytimes.com time to read: +1 min

If Google loses and a judge then approves remedies, it could eventually be forced to restructure in some way, and it could be hit with enormous fines and a prohibition on search distribution deals. That would translate to fewer users, deflated profits and perhaps even limits on how Google is able to innovate with new technologies like artificial intelligence. The company is counting on Mr. Walker, 62, once again. That Mr. Walker is defending an industry giant against the monopoly claims of regulators is an odd turnabout in his long career. He grew up in Palo Alto, Calif., in the heart of Silicon Valley, and graduated from Harvard and Stanford Law School.

Persons: Amit P, Mehta, Walker, Mr, Kevin Mitnick Organizations: Justice, Microsoft, Google, U.S, District of Columbia, Oracle, Supreme, Harvard, Stanford Law School, Justice Department Locations: Palo Alto, Calif, Silicon Valley

☆ Apple execs lose bid to block testimony at Google antitrust trial
▼ + stars: | 2023-09-05 | by ( ) www.cnbc.com time to read: +3 min

Three senior Apple executives have lost their bid to stop the U.S. Justice Department from calling them as witnesses in the government's upcoming trial accusing Alphabet's Google of abusing its search power. Cue oversees Apple Music, Apple TV and other services. The Justice Department declined to comment. Google and its lawyers have denied any wrongdoing in the case, one of two Justice Department antitrust lawsuits against Google. The case is United States v. Google, U.S. District Court for the District of Columbia, No.

Persons: Alphabet's, Eduardo Cue, John Giannandrea, Adrian Perica —, Judge Amit Mehta, Perica, John Schmidtlein, Mehta, Apple Organizations: Apple Computers, Apple, U.S . Justice, Washington , D.C, U.S, Companies, Cue, Apple Music, Google, Justice Department, District of Columbia, APM Locations: Silicon Valley, Cupertino , California, Washington ,, Mehta's court, United States, U.S

WASHINGTON (AP) — Jury selection began Tuesday in the case against former Trump White House official Peter Navarro, who was charged with contempt of Congress after he refused to cooperate with a congressional investigation into the Jan. 6, 2021, attack on the U.S. Capitol. Navarro, a former economics professor, served as a White House staffer under then-President Donald Trump and later promoted the Republican's baseless claims of mass voter fraud in the 2020 election he lost. Navarro has said that Trump invoked executive privilege, barring him from cooperating with the House Jan. 6 committee. Navarro, who has pleaded not guilty, was the second Trump aide to face criminal charges after former White House adviser Steve Bannon. The House Jan. 6 committee’s final report said Trump criminally engaged in a “multi-part conspiracy” to overturn the lawful results of the 2020 election and failed to act to stop his supporters from attacking the Capitol.

Persons: Peter Navarro, Donald Trump, Navarro, Trump, Judge Amit Mehta, White, Steve Bannon, Bannon, Joe Biden Organizations: WASHINGTON, Trump White House, U.S . Capitol, White, U.S, Trump, Washington , D.C, Democrat, Capitol Locations: Washington ,, Georgia

CNN —Former White House trade adviser Peter Navarro goes on trial Tuesday as the second ex-aide to former President Donald Trump to be prosecuted for criminal contempt of Congress. With the judge finding that Trump did not make a formal invocation of privilege, Navarro will be severely limited in the defenses he can put in front of the jury. It declined to prosecute former Trump White House officials Mark Meadows and Dan Scavino, who were also subpoenaed by the committee and referred by the House to the Justice Department for contempt. Navarro told reporters outside the courthouse last week that his legal bills, including appeals of the case, would exceed $1 million. This is the same suit I wore in 2017 going into the White House,” he said.

Persons: Peter Navarro, Donald Trump, Navarro, Trump, Steve Bannon, Bannon, Amit Mehta, ” Navarro, he’d, crosshairs Navarro, Jared Kushner, Mehta, Prosecutors, –, ” Mehta, Mark Meadows, Dan Scavino, ” Organizations: CNN, Former White House, US, Appeals, Justice Department, Trump, Trump White House, National Archives, Prosecutors Locations: Washington, DC, China, Navarro’s

☆ Basketball-sized gold coin worth ‘around $23M’ honors late Queen Elizabeth II
▼ + stars: | 2023-09-04 | by ( Oscar Holland | ) edition.cnn.com time to read: +3 min

It was produced by the East India Company, a luxury lifestyle brand with rights to the name of the corporation that once controlled large swathes of Britain’s empire. Businessman Sanjiv Mehta, who acquired the rights to the East India Company in 2005, poses with the diamond-encrusted coin. The East India Company said its multi-million-dollar valuation was partly due to the quality of the materials and crafting processes, which involved artisans and experts from the UK, India, Singapore, Germany and Sri Lanka. The original East India Company operated for almost 300 years before its dissolution in 1874. “The Crown” took over a year to produce, meaning that it was underway before Queen Elizabeth died at Balmoral Castle in Scotland last September.

Persons: Queen Elizabeth II, Queen Elizabeth’s, Sanjiv Mehta, tiaras, ”, Queen Elizabeth, Mehta Organizations: CNN, East India Company, Sotheby’s, NBA, British Overseas, Government, Royal Household, Royal, Foreign and Commonwealth Office Locations: York, India, Singapore, Germany, Sri Lanka, Scotland, British Overseas Territory, St Helena

☆ Fight the market malaise with these ‘attractive’ stocks, Bank of America and Goldman say
▼ + stars: | 2023-09-02 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

Goldman Sachs and Bank of America named an assortment of companies this week that they say have upside in the weeks ahead. NextEra Energy Buy the dip in shares of the renewable energy company, Goldman analyst Carley Davenport says. Endeavor Group Bank of America analyst Jessica Reif Ehrlich said earlier this week that shares of the media company offer "striking value." Endeavor Group- Bank of America, buy rating "An entourage of highly attractive assets. ... .We continue to believe that valuation is attractive..." H World Group Limited- Bank of America, buy rating "Shares weak despite solid results = attractive opportunity.

Persons: Goldman Sachs, Goldman, Carley Davenport, Davenport, she's, Jessica Reif Ehrlich, Reif Ehrlich, BofA, Neil Mehta, Mehta Organizations: Bank of America, CNBC, Marathon Petroleum, Endeavor, H, NextEra, Florida, Endeavor Group Bank of America, WWE, UFC, Media, Entertainment, MPC, Petroleum, ~$ Locations: China

☆ Broadcom falls as forecast pales before Nvidia's blowout results
▼ + stars: | 2023-09-01 | by ( ) www.reuters.com time to read: +2 min

A smartphone with a displayed Broadcom logo is placed on a computer motherboard in this illustration taken March 6, 2023. REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsSept 1 (Reuters) - Broadcom shares (AVGO.O) fell 4.2% in premarket trading on Friday as the semiconductor maker's quarterly revenue forecast fell short of investors' lofty expectations following bigger rival Nvidia's (NVDA.O) AI-powered blockbuster results. "Off the back of Nvidia's blowout earnings update, anything less than stellar is being seen as disappointing," said Danni Hewson, head of financial analysis at AJ Bell. The company, which supplies chips that help glue together AI supercomputers and traditional servers, expects networking revenue to jump 20% in the fourth quarter. Broadcom's forward price-to-earnings ratio for the next 12 months stood at about 20, compared with Nvidia's 35, according to Refinitiv data.

Persons: Dado Ruvic, Danni Hewson, AJ Bell, Hargreaves, Sophie Lund, Yates, Chavi Mehta, Devika Organizations: Broadcom, REUTERS, trailblazer Nvidia, Thomson Locations: Bengaluru

☆ Broadcom forecasts fourth-quarter revenue below Wall Street expectations
▼ + stars: | 2023-08-31 | by ( ) www.reuters.com time to read: 1 min

The Broadcom Limited company logo is shown outside one of their office complexes in Irvine, California, U.S., March 4, 2021. REUTERS/Mike Blake Acquire Licensing RightsAug 31 (Reuters) - Broadcom (AVGO.O) forecast fourth-quarter revenue below Wall Street estimates on Thursday, on worries bleak enterprise spending and stiff competition in the networking chip space will outweigh benefits from a boom in artificial intelligence-led demand. The chip company expects current-quarter revenue to be about $9.27 billion. Analysts on average expect revenue to be $9.28 billion, according to Refinitiv data. Reporting by Chavi Mehta in Bengaluru; Editing by Krishna Chandra EluriOur Standards: The Thomson Reuters Trust Principles.

Persons: Mike Blake, Chavi Mehta, Krishna Chandra Organizations: Broadcom Limited, REUTERS, Broadcom, Wall, Thomson Locations: Irvine , California, U.S, Bengaluru

☆ Broadcom forecasts fourth-quarter revenue above Wall Street expectations
▼ + stars: | 2023-08-31 | by ( ) www.reuters.com time to read: 1 min

Aug 31 (Reuters) - Broadcom (AVGO.O) forecast fourth-quarter revenue slightly above Wall Street estimates on Thursday, on optimism generative artificial intelligence will keep demand for its AI networking chips solid and an expected boost in sales from Apple (AAPL.O) iPhone launch. The chip company expects current-quarter revenue to be about $9.27 billion. Analysts on average expect revenue to be $9.28 billion, according to Refinitiv data. Reporting by Chavi Mehta in Bengaluru; Editing by Krishna Chandra EluriOur Standards: The Thomson Reuters Trust Principles.

Persons: Chavi Mehta, Krishna Chandra Organizations: Broadcom, Apple, Thomson Locations: Bengaluru

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