Shares of Alphabet Inc (NASDAQ:GOOGL), gain 0.56% to $736.92.
Alphabet (GOOGL), latest closing price of $736.92 is at a premium to its 200-day moving average price of $612.33. Its 52-week range has been $490.91 - $752.50; it is trading at discount versus its 52-week high of $752.50 achieved on Oct 23, 2015 and a premium to its 52-week low of $490.91 faced on Jan 12, 2015. The stock, as of recent close, has shown weekly upbeat performance of 9.69% which was maintained at 31.84% in this year.
Alphabet Inc (GOOGL), the new holding company for Google, has teamed up with three Indonesian telecommunications companies as part of its effort to connect people in emerging markets to the Internet, to the country, according to Reuters
Google officials, counting co-founder Sergey Brin, and representatives from Indonesian companies Telkomsel, XL Axiata Tbk PT and Indosat Tbk PT signed an agreement Wednesday to bring so-called Project Loon to the nation of 250 million people.
The balloons will start hovering in the stratosphere above Indonesia in an expansion of the project declared Wednesday. About 250 million people live in the country composed of about 17,000 islands in that part of Southeast Asia, although only 42 million have Internet access, according to the CIA’s estimates.
Google’s 2-year-old “Project Loon” program aims to change that by transmitting high-speed Internet signals from clusters of balloons floating about 60,000 feet above the Earth.
Project Loon Vice President Mike Cassidy said the Indonesian partnership marks the first time it will send signals from multiple telecommunications companies through a single balloon, and that it will be the service’s largest deployment to date and could eventually reach 100 million users, Reuters Report
Alphabet Inc (GOOGL), through its auxiliaries, builds technology products and provides services to organize the information. The company offers Google Search that provides information online; Google Now that offers information to users when they need it; AdWords, an auction-based advertising program; AdSense, which enables Websites that are part of the Google network to deliver ads; DoubleClick Ad Exchange, a marketplace for the trading display ad space; and other advertising platforms, such as AdExchange and AdMob.