Onto the business side of things.
A news leak revealing Google’s profit dropped by 20% saw its stock plunge quite tremendously during trading hours and prompted suspension of trading of its stocks. The culprit, as Google paints it, is the unintended release of a statement by partner RR Donnelley, of the results due to be released by end of trading day. At the time the leak was detected, the document was obviously not ready for release, hence the label “Pending Larry quote”, on the note implying Google CEO Larry Page needs to incorporate when they are
“Nice to see this evil company get what it deserves. It steals content from others, pays little tax, and destroys little companies (like mine) day after day. What has it contributed to society?”
Google has “been massaging earnings for at least a year. The party’s coming to an end. People aren’t going to pay inflated prices for ‘clicks’ forever.”
If your website has been hit by the well-chronicled Penguin update or the exact match domain adjustment, then the graph of Google’s stock, as described in the above image looks eerily similar to the plunging stock value.
Google was quick to issue a statement:
Earlier this morning RR Donnelley, the financial printer, informed us that they had filed our draft 8K earnings statement without authorization. We have ceased trading on NASDAQ NDAQ -0.04% while we work to finalize the document. Once it’s finalized we will release our earnings, resume trading on NASDAQ and hold our earnings call as normal at 1:30 PM PT