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Facebook and Alphabet upgraded by Stifel on advertising optimism

“Stifel hiked its price target for Alphabet to $1,525 from $1,325, a 14% upside to the stock’s closing price on Wednesday” writes Maggie Fitzgerald for cnbc.com. Stifel raised Facebook’s price target to $240 from $215, a 20% upside from Wednesday’s closing price. U.S. advertising spending continues to outpace GDP growth and since the last recession, growth in global advertising spend has remained steady around 5% year-over-year, the firm noted. Source: cnbc.com

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Why Alphabet’s days could be numbered under its new CEO

“Sundar Pichai is the 47-year-old CEO of Google, and as of yesterday, the CEO of its parent company, Alphabet” writes Casey Newton for theverge.com. And what about Alphabet, the holding company Google established in 2015 when it made Pichai CEO? Well … no one is quite sure why we need it any more.Are Alphabet’s days as a holding company numbered?. Pichai joined the company in 2004 and ran Chrome and Android before being named CEO in 2015. Source: theverge.com

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Larry Page and Sergey Brin’s decision to step down is a ‘milestone’ …

“Page and Brin will remain involved in the company as shareholders, co-founders, and Board members” writes Lisa Eadicicco for businessinsider.com. Alphabet CEO Larry Page and president Sergey Brin are stepping down from their leadership roles at Alphabet, the parent company of the tech giant they co-founded to index the web back in 1998.It marks a turning point for the company as it signals yet another promotion for Google CEO Sundar Pichai, who has been tapped to take over as the chief executive of Alphabet. Source: businessinsider.com

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Read Sundar Pichai’s email to employees about taking over Alphabet

“Larry Page and Sergey Brin, who founded Google in a garage in 1998, announced they were stepping down from Google’s parent company, Alphabet” writes Isobel Asher Hamilton for businessinsider.com. In the email Pichai says that Google is a company of “continuous evolution” but that his accession won’t affect Alphabet’s structure or the day-to-day work of Googlers.Pichai circulated an email to employees after Page and Brin put up a blog post announcing their departure on Tuesday, outlining what the change would mean for the company. Source: businessinsider.com

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Read the email Sundar Pichai sent Google employees after founders Sergey Brin and Larry Page announced they were stepping down

“Larry Page and Sergey Brin, who founded Google in a garage in 1998, announced they were stepping down from Google’s parent company Alphabet” writes Finanzen Net Gmbh for businessinsider.com. In the email Pichai says that Google is a company of “continuous evolution,” but that his accession won’t affect Alphabet’s structure or the day-to-day work of Googlers.Pichai circulated an email to employees after Page and Brin put up a blog post announcing their departure on Tuesday, outlining what the change would mean for the company. Source: businessinsider.com

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Google’s billionaire co-founders are leaving Alphabet. Sundar Pichai has the chance to offer the company something it’s needed for a long time — leadership

“Whatever role they’ve played outside the company, Page and Brin have long taken an active role inside it” writes Troy Wolverton for businessinsider.com. Despite being Alphabet’s CEO since 2015, Larry Page hasn’t made a public appearance on behalf of the company in years.From nearly all appearances, Page and Brin checked out of the company a long time ago. Source: businessinsider.com

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5 important changes Sundar Pichai could make right away at Alphabet now that Larry Page and Sergey Brin are gone

“Of course, Page and Brin are still the company’s biggest shareholders, so Pichai won’t truly be free of their oversight” writes Finanzen Net Gmbh for businessinsider.com. While Pichai was already CEO of Google for the past few years, Page and Brin occupied the top roles at Google’s parent company, Alphabet.The flip side of the China coin for Google is the military — a business that Google has long sworn off.As long as he was a public face of the company, Google could not try to do business in China without…

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Google founders Larry Page and Sergey Brin step down from parent company

“Google co-founders Larry Page and Sergey Brin announced Tuesday they will be stepping down from the leadership of the search giant’s parent company, Alphabet” reports thehill.com. Alphabet, created in 2015, comprises several companies beyond Google, including the driverless car firm Waymo and the biotech company Calico.”With Alphabet now well-established, and Google and the Other Bets operating effectively as independent companies, it’s the natural time to simplify our management structure,” Page and Brin wrote in a blog post. Source: thehill.com

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