Holding GOOG into earnings

[aquaswim47]

I've owned GOOG for about 3 months and bought it at 416.47. Should I keep it or not?

I'm also several years out. I like financials and tech stocks. I'm curious when I can get back into JCP or other dept store stocks (i.e. JWN). I've also been thinking automotive (i.e. HMC or TM), industrial (i.e. UTX or MMM), and biotech (i.e. ABT or GSK). It shows that I am a bullish investor.

Moreover, I love consumer staples like PEP since they are really undervalued and should go higher once oil drops in price. I feel that when the subsidies stop internationally, there will be a drop in demand in the consumer market. There definitely is a market. Drilling for oil will also win out.

[Airelon]

I'm of a mixed opinion on the issue. On the one hand, I wish they'd drill for oil. Drill everywhere that is economically feasible. Have a platform in my backyard if need be.

But at the same time, aggressively pursue conserving oil, getting off foreign oil, and improving the transportation sector. Employing technologies and research and development into vehicles that use less gas, less petroleum, and are more efficient.

I just wonder if mankind is that far-sighted. Let's face it, if we had $30.00 a barrel gas, would we (We in the collective sense), really, truly care about a vehicle that uses 50% less gasoline, and gets better gas mileage? Not really. We'd be thinking: Sweet! Now we can afford a Hummer!

[aquaswim47]

So what about GOOG?

[Airelon]

Well, with the ban on naked short selling just imposed on 19 firms and banks - we might have ourselves a bit of a relief rally. In which case the whole market just might have a few days of giddiness.

As far as GOOG's business? I'm a dividend / DRIP investor mate. I believe GOOG has the right idea - overall -; but I really haven't been following them this quarter.

[aquaswim47]

I took a hit, but it looks good. The conference call answered my questions and it didn't seem like management was acting fluffy in any way. I reiterate it as a buy and as a long-term hold. Hope it pays off.

[StockJunkie]

Google stock is down 7% and back under $500 in after hours trading. From yahoo finance:

"Although Google's management maintains the company will thrive even if the economy weakens further, the results released Thursday caused Google shares to plunge more than 7 percent.

Investors were largely reacting to indications that Google is fretting about the economic climate for the first time since it went public nearly four years ago.

The red flags included a dramatic slowdown in the company's hiring pace and Google Chairman Eric Schmidt's description of the economy as "challenging." Google's chief economist, Hal Varian, even participated in the company's conference call for the first time to discuss business conditions.

"That was a tipoff," said Cantor Fitzgerald analyst Derek Brown. "Economic sluggishness has entered the discussion at Google, more so than we have ever heard."

Google earned $1.25 billion, or $3.92 per share, during the three months ended in June. That represented a 35 percent increase from net income of $925 million, or $2.93 per share, at the same time last year."

[Jerklian]

So GOOG benefitted from FOREX, as I both read and heard...

but what does that mean exactly? Does it mean revenues were strengthened due to the weak dollar, or have they actively been trading the foreign exchange?

[Stocktrading101]

Found an interesting report at TheStreet,

Google's Earnings Coverage Incomplete - TheStreet.com

Google should have benefited from the currency exchange, so that is another red flag on the books.