Alphabet shares jump 7% in extended trade after major court relief on Google Chrome

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Google, the default search engine for most globally, and Alphabet Inc.’s unit, will not have to sell its Chrome Web browser as part of its antitrust litigation penalties, a Federal judge ruled on Tuesday, after market closing hours.

In response, shares of Alphabet jumped as much as 8% in extended trade, also taking the Nasdaq futures higher with them.

The verdict comes as a blow for the US Department of Justice, who had filed the antitrust case against Alphabet in 2020. However, judge Amit Mehta did bar Google from entering into exclusive contracts for…



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Alphabet shares jump 7% in extended trade after major court relief on Google Chrome


Google, the default search engine for most globally, and Alphabet Inc.’s unit, will not have to sell its Chrome Web browser as part of its antitrust litigation penalties, a Federal judge ruled on Tuesday, after market closing hours.

In response, shares of Alphabet jumped as much as 8% in extended trade, also taking the Nasdaq futures higher with them.

The verdict comes as a blow for the US Department of Justice, who had filed the antitrust case against Alphabet in 2020. However, judge Amit Mehta did bar Google from entering into exclusive contracts for…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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