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MarketScreener Homepage  >  Equities  >  Nasdaq  >  Alphabet Inc.    GOOGL

ALPHABET INC.

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Trump administration plans two meetings on Big Tech on Wednesday

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09/22/2020 | 07:40pm EDT
U.S. President Donald Trump descends from Air Force One following a campaign trip to Ohio, at Joint Base Andrews in Maryland

U.S. President Donald Trump will meet on Wednesday with state attorneys general about removing a liability shield protecting social media companies while the Justice Department holds a call with state officials to discuss the investigation into Alphabet's Google.

The separate meetings highlight the efforts by the Trump administration to move against an industry that he has accused of stifling conservative voices.

In the White House meeting, Trump will meet with state attorneys general from Texas, Arizona, Utah, Louisiana, Arkansas, Mississippi, South Carolina and Missouri - like Trump, all Republicans, according to a person briefed on the matter.

Justice Department officials have invited staff for the dozens of state attorneys general involved in a Google antitrust investigation to a call in the afternoon, according to two sources knowledgeable about the call.

Officials from both Democratic and Republican states are expected to participate, the two sources said.

While the Justice Department has not said what the agenda of the meeting will be, the expectation is that officials could preview the complaint that is expected to be filed against Google as soon as next week, one of the sources said.

"Online censorship goes far beyond the issue of free speech, it's also one of protecting consumers and ensuring they are informed of their rights and resources to fight back under the law," White House spokesman Judd Deere said on Monday.

"State attorneys general are on the front lines of this issue and President Trump wants to hear their perspectives."

In May, Trump signed an executive order that seeks new regulatory oversight of tech firms' content moderation decisions and backed legislation to scrap or weaken the relevant provision in the 1996 Communications Decency Act, Section 230.

Trump directed the Commerce Department to file a petition asking the Federal Communication Commission (FCC) to limit protections under Section 230 after Twitter Inc warned readers in May to fact-check his posts about unsubstantiated claims of fraud in mail-in voting.

A group representing major internet companies including Facebook Inc, Amazon.com Inc and Google urged the FCC to reject the petition, saying it was "misguided, lacks grounding in law, and poses serious public policy concerns."

FCC Chairman Ajit Pai opened the petition to a 45-day public comment.

Earlier this month, the Republican state attorneys general of Texas, Louisiana, Indiana and Missouri backed Trump's push, arguing social media platforms cannot be truly free "unless the participants understand the rules of the forum, and competition is able to provide alternatives when speech restrictions go too far."

By David Shepardson and Diane Bartz


Stocks mentioned in the article
ChangeLast1st jan.
ALPHABET INC. 3.05% 1556.88 Delayed Quote.16.24%
AMAZON.COM, INC. 1.52% 3211.01 Delayed Quote.73.77%
DEERE & COMPANY 2.08% 228.02 Delayed Quote.31.61%
FACEBOOK INC 4.92% 280.83 Delayed Quote.36.82%
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Financials (USD)
Sales 2020 174 B - -
Net income 2020 30 993 M - -
Net cash 2020 120 B - -
P/E ratio 2020 34,5x
Yield 2020 -
Capitalization 1 062 B 1 062 B -
EV / Sales 2020 5,43x
EV / Sales 2021 4,42x
Nbr of Employees 127 498
Free-Float 90,2%
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Technical analysis trends ALPHABET INC.
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Mean consensus BUY
Number of Analysts 45
Average target price 1 759,67 $
Last Close Price 1 556,88 $
Spread / Highest target 29,7%
Spread / Average Target 13,0%
Spread / Lowest Target -20,5%
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Managers
NameTitle
Sundar Pichai Chief Executive Officer & Director
John LeRoy Hennessy Chairman
Ruth M. Porat Chief Financial Officer & Senior Vice President
Lawrence E. Page Director
Sergey Mikhaylovich Brin Director
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