Did Google’s earnings gaffe spook Wall Street on tech stocks?

“Close to midday on Thursday, Google’s financial printing partner, RR Donnelly, published the search giant’s earnings release draft hours before it was supposed to,” Mike Isaac writes for AllThingsD. “The result: Shares of Google dropped sharply and almost instantly by nearly 75 points, with the unexpected gaffe only compounding the fact that Google missed its quarterly expectations.”

“But the company wasn’t alone,” Isaac writes. “Major Internet company stocks slumped across the board on the news. As of 2:30 pm ET, LinkedIn shares were down 2.5 percent, joined by Amazon, whose shares dropped three points… Apple, too, dropped 11 points, close to a 2 percent drop overall.”

Read more in the full article here.

[Thanks to MacDailyNews Reader “Rainy Day” for the heads up.]

Related article:
Google results, filed by mistake, miss; shares dive – October 18, 2012

18 Comments

  1. Idiots. I see GM when up 2% and Apple went down about 2%. Try to take that in. Apple sells everything they can get made at a great profit. GM is in debt, over manufactured crap electric cars that no one wants even with a $10,000 gift from Obama, can’t turn a profit, sales are down around the world, … and their stock goes up 2%.

    Clueless Delusional Idiots.

    1. 25.56 +0.50 (2.00%)
      After Hours: 25.50 -0.06 (-0.23%)
      Oct 18, 4:40PM EDT
      NYSE real-time data – Disclaimer
      Currency in USD
      Range 24.96 – 25.72
      52 week 18.72 – 27.68
      Open 25.09
      Vol / Avg. 9.74M/9.10M
      Mkt cap 40.03B
      P/E 9.11
      Div/yield –
      EPS 2.80
      Shares 1.57B
      Beta –
      Inst. own 35%

      maintaining a position worldwide as a stables company. Many workers employed here. Government made money on the so-called bailout. You are an idiot. Go suck on the teat of mitt&paul. Clueless asshole.

  2. What does Google really have to do with Apple? Advertising? Apple really has nothing to do with their market (yet). Android … it is a FREE OS. People put these two in the same markets and they really have very little to do with income from the same customers. All I can say is Google gives away crap that interferes with Apple’s market. That is it.

    Everyone knows Google is having problems making money on surfers using hand held devices. Apple can’t make enough of them and earns billions of profit selling them.

    Why are they the same? Idiots!

  3. All tech stocks? This is Google’s problem! Savvy analysts have been saying for ages that search is vulnerable, and now the chickens are coming home to roost. Hell, Apple is cutting Google out of iOS, so is a factor in this. And AAPL can only go up on GOOG’S bad news.

    1. Google is evil. But not stupid. They will do just fine. Could you run it better? No. Me either. In case you haven’t looked, their stock price is still higher than Apple. And it will be back over 700 before too long. As will Apple. There’s Google and then there’s Apple. They are nothing alike. Both are giants in the industry and will stay that way. Search and advertising is not about to go away. That’s the reason Apple is trying to get into it themselves. Just watch.

      1. I could run Google better! They obviously have PR people who require the firing squad. They also have a deeply ingrained subculture of IMITATION (vs innovation). We know what that leads to, hello Microsoft scum.

        Google is REQUIRED to proceed with the same mind set that created the Google search engine: Nothing but the best and beyond!

        Right now Google is accelerating its tripping and falling into Face Plant Mode. That has to stop if they want a rational future.

        Where did I put my whips and chains? 😉

          1. Your opinion certainly is credible? Please tell us all again how the Mac Mini is not coming……………………. C’mon, let’s hear some more from you . BTW : “Nothing but the best and beyond”

            1. GM, just give it up. You keep tripping over reality and doing a face plant. Not good for you buddy.

              Mac Mini: Already exists since 2006.

              You meant to say: ‘iPad Mini’, correct?

              As I’ve been jovially saying all week: I’m keeping my mouth shut about this vacuumware as I don’t want to jinx it in case some tiny shred of evidence of its existence comes into the public light and Apple really does bring one to market.

              It could happen! If it does, I wish Apple well. But I would still have to point out that the ‘market’ for ~7″ OtherPads consists mainly of subsidized hardware from Amazon and Google. IOW: It nothing more than these two lame companies buying market share.

              Any actual ~7″ iPad ‘Mini’ would be CREATING a new market, one with no real competitors thus far.

            2. You are correct. An anomaly. I have owned Mac Minis since the day they were first offered. But as for doing a face plant, that’s your specialty. Again, I remind everyone that you have said forever that there will be no iPad mini. Now suddenly you’re on board! Nice try. And oh, you can say whatever you want but it won’t jinx the iPad mini. You are influential only in your own world. What will you try next TROLL?

            3. And yet there you are doing your usual routine on not reading what anyone writes and replying with absurdities and hate. Here have some more troll numnums:

              You’re illiterate. Does that taste good? Yummy yum!

      2. “In case you haven’t looked, their stock price is still higher than Apple.”

        And this means what? Apple has 3 times the capitalization. The dollar price per share is not comparable.

        Google will not remain the search giant that it is now. There’s nothing to prevent Apple from entering the search field, and they already have with Siri. They are already taking revenue from Google by eliminating Google as a default search app on 100M mobile devices. The snowball is just starting to roll.

  4. If Apple had split 10 for one the stock would have been down $1.20…..it’s all relative and no big deal. It hurts the option traders and short term holders only.

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