Google Inc. (NAPostsSDAQ: GOOG) and the Associated Press entered into a new licensing agreement yesterday, following months of negotiations; neither Google nor the Associated Press have disclosed the terms of the deal. The previous licensing deal between Google and Associated Press, which was signed in 2006, expired at the beginning of this year.Google recently acquired Angstro, a social networking start up based in Palo Alto, Calif., engaged in sorting news and information across social networks like Facebook.
With Angstro’s acquisition, Google continued its trend this year of acquiring small start-ups. So far this year, the Mountain View, California-based company acquired Plink and Episodic. Plink is a maker of visual search engines and Episodic is engaged in video broadcasting. Google also acquired Jambool, which makes virtual currency for online games.
The acquisitions made by Google are not just restricted to small start ups. Last month, the company entered the online travel industry by acquiring ITA Software Inc. for $700 million. ITA provides flight information service. The acquisition will allow Google to launch online search tools that will assist users in finding travel information more easily on the Web. The acquisition of ITA is one of the largest in Google’s history.
The acquisitions come even as Google continues to do well in its core businesses. The company reported its second-quarter financial results on July 15. The company reported second-quarter revenue of $6.82 billion, representing an increase of 24% from the same period in 2009. The company reported second-quarter non-GAAP operating income of $2.67 billion, compared with $2.17 billion reported for the same period in 2009. The company’s non-GAAP net income in the second quarter of 2010 was $2.08 billion, compared with $1.71 billion reported for the same period in 2009.
Since reporting the second-quarter financial results, the Google stock is down 7.45%. Year-to-date, the stock is down 26.66%. The stock has a 52-week range of $433.63-$629.51. It is currently trading below its 10-day and 20-day moving averages. The stock has a support level at $450.99 and a resistance level of $463.33.
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