Google's $65 Billion Friday

By MarketsFOXBusiness

1. Google Shares Surge 16% to Record


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Google shares briefly surpassed the $700 level Friday, finally settling at a record close of $699.62. The 16% jump added nearly $65 billion to the company, marking the largest one-day market cap gain in company history.

2. Google's Second Best Trading Volume Day Ever


Friday had the biggest one-day volume action ever, with 12.8 million shares of Google trading hands. The second heaviest trading day was on October 10, 2013, when 11.6 million shares traded hands.

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3. YouTube: Google's Secret Weapon


On mobile, reaches more 18 to 49-year-olds than any U.S. cable network

The average mobile viewing session is now more than 40 minutes, + 50% year-over-year

Traditional YouTube homepage users are up over three times year-on-year

Source: Company

4. CFO Ruth Porat: Google's Golden Girl


Google CFO Ruth Porat joined the company in May 2015 by way of Morgan Stanley (NYSE:MS). Wall Street is optimistic Porat will use the company's $70 billion in cash for shareholders. During the earnings conference call on July 16, she said her focus is maximizing shareholder value over the medium to long-term, adding....

"What do we need for CapEx? What do we need for M&A? What do we need potentially for capital return? How does one think about financing the various opportunities that we have and I would say it’s early days, it would be premature to be more specific than that. But given this profitability of our business we have many opportunities given the growing mix of our business, we have opportunities." 

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