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“font-family: Arial, Helvetica, sans-serif; font-size: 13px; -webkit-border-horizontal-spacing: 2px; -webkit-border-vertical-spacing: 2px;”> NEW YORK (AP) — Standard & Poor’s is saying investors should sell Google’s stock because it believes the search leader’s decision to buy Motorola Mobility increases the risk to the company and its shares.
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“font-family: Arial, Helvetica, sans-serif; font-size: 13px; -webkit-border-horizontal-spacing: 2px; -webkit-border-vertical-spacing: 2px;”> Google Inc. said Monday it will pay $12.5 billion for Motorola Mobility, a major maker of phones using Google’s Android mobile software. The deal includes mobile patents that could help Google defend itself against rivals.
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“font-family: Arial, Helvetica, sans-serif; font-size: 13px; -webkit-border-horizontal-spacing: 2px; -webkit-border-vertical-spacing: 2px;”> S&P said Tuesday that while the acquisition would include a patent trove, that might not be enough to keep Google’s Android mobile operating software from encountering intellectual-property issues. It downgraded its rating on Google’s shares to “Sell” from “Buy.”
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“font-family: Arial, Helvetica, sans-serif; font-size: 13px; -webkit-border-horizontal-spacing: 2px; -webkit-border-vertical-spacing: 2px;”> Further, the ratings service says the transaction will hurt Google’s growth, margins and balance sheet.
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“font-family: Arial, Helvetica, sans-serif; font-size: 13px; -webkit-border-horizontal-spacing: 2px; -webkit-border-vertical-spacing: 2px;”> S&P cut its price target for Google’s stock by $200 to $500.
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“font-family: Arial, Helvetica, sans-serif; font-size: 13px; -webkit-border-horizontal-spacing: 2px; -webkit-border-vertical-spacing: 2px;”> Google shares fell along with the overall market Tuesday, slipping $18.23, or 3.3 percent, to finish trading at $539.
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