Who’s hot, who’s not in this week’s business reports

Highlights of IT business reports during the week of Jan. 31 through Feb. 4, as reported by Marketwatch.

Hot: Google
If there were any doubts left that Googlemania has spread from Main Street to Wall Street, the reaction of analysts and investors to the search icon’s fourth-quarter earnings should erase them. Google shares surged more than 7 percent to $205.90 Wednesday. Earlier, they touched a new high of $216.80 after the company reported quarterly net income grew sevenfold and revenue doubled from a year earlier, as more businesses paid to have their online ads included in Google’s search results.

Just five months after going public, Google’s market capitalization — its stock price multiplied by the number of shares outstanding — stands at $58 billion. At that level, the company is worth more than Ebay and Yahoo and is valued about the same as hardware maker Hewlett-Packard.

Link: IT Manager's Journal