Alphabet Inc (NASDAQ:GOOGL) Seeking 1.86 Billion From Uber

Alphabet Inc (NASDAQ:GOOGL) Seeking 1.86 Billion From Uber

Alphabet Inc (NASDAQ:GOOGL) Seeking 1.86 Billion From Uber

  • Alphabet Inc. GOOGL, -0.95% self-driving vehicle unit Waymo LLC said it seeks $1.86 billion in damages from Uber Technologies Inc. in its lawsuit over a trade secret related to technology that Waymo says a former Uber executive stole from it, according to court papers filed late Friday.
  • Uber has denied the allegations. Alphabet stock is down 1.7% to 927.08 in early afternoon trading. Last week, an Uber attorney had said in a San Francisco federal court that Waymo wanted $2.6 billion in damages for a single trade secret it is accused by Waymo of appropriating.
  • The Friday filing also notes that the damages Waymo seeks aren’t additive and that if the jury says that Uber did steal every trade secret it has been accused of, Waymo would still seek $1.86 billion.
  • The litigation is set to begin jury selection on Oct. 10, though Waymo’s lawyers have asked federal magistrate William Alsup for more time because it recently received a large document cache from Uber and needs more time to prepare for trial. The judge has told Waymo to make a “good college try” to be prepared for the scheduled date.
  • Alphabet shares are up 17% this year, with the S&P 500 index SPX, -0.22% up 11.8%.

Alphabet Inc. is a holding company. The Company’s businesses include Google Inc. (Google) and its Internet products, such as Access, Calico, CapitalG, GV, Nest, Verily, Waymo and X. The Company’s segments include Google and Other Bets. The Google segment includes its Internet products, such as Search, Ads, Commerce, Maps, YouTube, Google Cloud, Android, Chrome and Google Play, as well as its hardware initiatives. The Google segment is engaged in advertising, sales of digital content, applications and cloud offerings, and sales of hardware products. The Other Bets segment is engaged in the sales of Internet and television services through Google Fiber, sales of Nest products and services, and licensing and research and development (R&D) services through Verily. It offers Google Assistant, which allows users to type or talk with Google; Google Maps, which helps users navigate to a store, and Google Photos, which helps users store and organize all of their photos.

Overall, the bias in prices is: Downwards.

Short term: Prices are stalling.

Intermediate term: Prices are ranging.

The projected upper bound is: 959.05.

The projected lower bound is: 907.80.

The projected closing price is: 933.43.

ALPHABET INC A closed down -8.980 at 934.280. Volume was 9% above average (neutral) and Bollinger Bands were 57% narrower than normal.

Open           High            Low             Close           Volume
939.450      939.750      924.510      934.280      1,873,375

Technical Outlook
Short Term: Neutral
Intermediate Term: Bullish
Long Term: Bullish

Moving Averages: 10-period        50-period    200-period
Close:                       941.17              947.71          899.70
Volatility:                 13                    17                  18
Volume:                   1,484,107       1,645,971     1,636,328

Short-term traders should pay closer attention to buy/sell arrows while intermediate/long-term traders should place greater emphasis on the Bullish or Bearish trend reflected in the lower ribbon.

Summary

ALPHABET INC A gapped down today (bearish) on normal volume. Possibility of a Runaway Gap which usually signifies a continuation of the trend. Four types of price gaps exist – Common, Breakaway, Runaway, and Exhaustion. Gaps acts as support/resistance.
ALPHABET INC A is currently 3.8% above its 200-period moving average and is in an upward trend. Volatility is low as compared to the average volatility over the last 10 periods. Our volume indicators reflect volume flowing into and out of GOOGL.O at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bullish on GOOGL.O and have had this outlook for the last 10 periods.

Momentum is a general term used to describe the speed at which prices move over a given time period. Generally, changes in momentum tend to lead to changes in prices. This expert shows the current values of four popular momentum indicators.

Stochastic Oscillator

One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 59.9109. This is not an overbought or oversold reading. The last signal was a buy 4 period(s) ago.

Relative Strength Index (RSI)

The RSI shows overbought (above 70) and oversold (below 30) areas. The current value of the RSI is 45.18. This is not a topping or bottoming area. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a sell 74 period(s) ago.

Commodity Channel Index (CCI)

The CCI shows overbought (above 100) and oversold (below -100) areas. The current value of the CCI is -118.This is an oversold reading. However, a signal isn’t generated until the indicator crosses above -100. The last signal was a buy 3 period(s) ago.

MACD

The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a sell 0 period(s) ago.

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John Heffernan

John Heffernan is a Junior Analyst at HEFFX. John is studying Economics and is a contributor on equities at Live Trading News.

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