Skip to content
Catholic Online Logo

By Catholic Online (NEWS CONSORTIUM)

2/9/2014 (1 year ago)

Catholic Online (www.catholic.org)

Sudden surge points to world's growing dependence on technology

It was quite a day on Wall Street. Google, the world's largest online advertiser through its dominant search engine, had a higher market capitalization before falling back at the close in New York to a value of $395.4 billion compared to Exxon's $395.7 billion. Apple had a market value of $463.5 billion and software company Microsoft Corp. is No. 4 with $303.5 billion.

The one day-surge demonstrated the growing role of technology in the economy.

The one day-surge demonstrated the growing role of technology in the economy.

Highlights

By Catholic Online (NEWS CONSORTIUM)

Catholic Online (www.catholic.org)

2/9/2014 (1 year ago)

Published in Business & Economics

Keywords: Google, Exxon, capitalization, technology


LOS ANGELES, CA (Catholic Online) - The one day-surge demonstrated the growing role of technology in the economy.

Technology companies have begun to disrupt industries from retail to finance for market domination. Google, which went public in 2004, 84 years after Exxon has definitely benefited from consumers moving to online services and content. The growing popularity of Smartphone's and tablets is being cited as the chief reason behind this trend.

Share your belief where it counts --

"It's the sign of the times," Fadel Gheit, an analyst at Oppenheimer & Co. in New York says. "Out with the old and in with the new."

The world's largest oil producer by market value, Exxon has been under pressure since it reported fourth-quarter output declined last month. Net income fell 16 percent to $8.35 billion, or $1.91 a share. Sales dropped 3.3 percent to $110.86 billion. Global output for the Irving, Texas-based company dropped for the ninth time in 10 quarters.

Oil companies BP Plc and Royal Dutch Shell Plc also reported lower quarterly earnings compared with 2012 as the world's biggest oil companies face rising drilling costs, slumping refining profits and stagnate fuel prices.

Story: Get Ready for a Wild Week on Wall Street

Google reported last month that revenue, excluding sales passed on to partners, rose 11 percent to $13.6 billion, topping projections of $13.4 billion, amid a busy holiday shopping season. Google showed remarkable growth in its fourth quarter.

Shares of Exxon rose less than one percent to $90.58 at the close in New York and have fallen 10 percent this year. Google shares climbed 1.5 percent today to $1,177.44 and are up 5.1 percent this year.

"Google's market cap reflects investor recognition of the growing strength of its digital platform, which is growing leaps and bounds," Frank Gillett, an analyst with Forrester Research Inc., said in an e-mail.

Pope Francis calls for your 'prayer and action'...

---


Pope Francis: end world hunger through 'Prayer and Action'


Copywriter 2015 - Distributed by THE NEWS CONSORTIUM

Pope Francis Prayer Intentions for May 2015
Universal:
That, rejecting the culture of indifference, we may care for our neighbours who suffer, especially the sick and the poor.
Evangelization: That Mary's intercession may help Christians in secularized cultures be ready to proclaim Jesus.


Rosaries, Crosses, Prayer Cards and more... by Catholic Shopping .com


Comments


More Business & Economics

Los Angeles boosts minimum wage to $15.34 an hour, largest U.S. city to do so Watch

Image of Significantly, the bill in its current form includes tipped workers. This means that tips would not count towards the proposed minimum-wage base pay of $15.

By Catholic Online (NEWS CONSORTIUM)

The minimum wage for the city of Los Angeles will be $15.34 by the year 2020 - until then, wages will increase incrementally each year. The vote is being hailed as "the most significant victory so far" in the push to increase the minimum wage nationally. LOS ... continue reading


Another attack on 'In God We Trust': Atheists take a stab at U.S. currency motto Watch

Image of The United States currency's motto is 'In God We Trust.'

By Atarah Haely (NEWS CONSORTIUM)

After a series of unsuccessful legal battles against the religious quote on U.S. currency, a popular atheist activist claims to have found a new and more effective way attack the country's beloved "In God We Trust." MUNTINLUPA, PHILIPPINES (Catholic Online) - Michael ... continue reading


Verizon to buy AOL in $4.4 billion deal Watch

Image of Verizon says the deal will shore up its wireless and over-the-top or OTT video strategies.

By Catholic Online (NEWS CONSORTIUM)

In a deal valued at approximately $4.4 billion, telecoms giant Verizon will acquire digital conglomerate American Online, or AOL. Verizon announced this week it would acquire digital conglomerate AOL, intended to bolster the telecommunications giant's efforts ... continue reading


Five American tech companies have $430 BILLION in which to play Watch

Image of While other companies cry

By Catholic Online (NEWS CONSORTIUM)

While other companies cry "poor mouth" or say they have little at their disposal, at least five American tech companies are sitting on an overwhelming $430 BILLION in cash. There should be no surprise that Apple leads the list by a wide margin. LOS ANGELES, CA ... continue reading


New York Times reports substantial loss in spite of digital growth Watch

Image of There has been a move to make the newspaper more attractive to readers. The newspaper's cooking product, a hub for recipes and food-related content, has been free since its introduction.

By Catholic Online (NEWS CONSORTIUM)

In just one of growing death knells of the daily print newspaper, the iconic New York Times reported a hefty $15 million loss for the first quarter of 2015. Digital subscriptions continue to show solid growth. Digital advertising grew at a double-digit pace. ... continue reading


Shakeup at Walt Disney Parks -- information technology employees replaced by non-immigrant workers Watch

Image of Both Disneyland and Walt Disney World certainly were not the happiest places on Earth for many employees at the beginning of this year.

By Catholic Online (NEWS CONSORTIUM)

Both Disneyland and Walt Disney World certainly were not the happiest places on Earth for many employees at the beginning of this year. Multiple layoffs went around to many several information technology employees and were told their final day would be January ... continue reading


Apple can't seem to spend money fast enough as profits soar and cash reaches a staggering $194 billion Watch

Image of At Apple - the company can't seem to spend money fast enough.

By Catholic Online (NEWS CONSORTIUM)

Digital gadget maker Apple has ended the first calendar quarter with $33 billion in cash and short-term investments and $160.4 billion in long-term investments. Apple currently has $194 billion in cash and investments, more than any other non-financial company ... continue reading


Meet the billionaires who pledged to give up their fortunes to change the world Watch

Image of

By Talia Ramos (NEWS CONSORTIUM)

Through the "Giving Pledge," men and women belonging to the upper crust of the society, with billions of dollars in their name, commit to donating a large chunk of their fortune, whether through their lifetime or through their will. Coming from the majority of their ... continue reading


World's discarded electronic junk building up into massive toxic dump Watch

Image of Less than 16 percent of global e-waste is being diverted from landfill into recycling and reuse.

By Catholic Online (NEWS CONSORTIUM)

Television sets, washers and driers, stereos - broken, discarded, and then thrown away, are creating a massively toxic waste dump of gargantuan proportions. The irony in all this "e-waste" is the fact that precious metals such as gold and silver are also thrown ... continue reading


Australian father-and-son team raises $10 MILLION for beehive project Watch

Image of The beehive symbolizes productive activity, and for father and son Cedar and Stuart Anderson of Australia, their project was literally that.

By Catholic Online (NEWS CONSORTIUM)

The beehive symbolizes productive activity, and for father and son Cedar and Stuart Anderson of Australia, their project was literally that. Nearly 30,000 people have funded their "Flow Hive" project on Indiegogo for $10 million dollars. Not bad at all for such ... continue reading


All Business & Economics News

Newsletters

Newsletter Sign Up icon

Stay up to date with the latest news, information, and special offers

Daily Readings

Reading 1, Sirach 35:1-12
1 One who keeps the Law multiplies offerings; one who ... Read More

Psalm, Psalms 50:5-6, 7-8, 14, 23
5 'Gather to me my faithful, who sealed my covenant ... Read More

Gospel, Mark 10:28-31
28 Peter took this up. 'Look,' he said to him, 'we ... Read More

Saint of the Day

Saint of the Day for May 26th, 2015 Image

St. Philip Neri
May 26: If one had to choose one saint who showed the humorous side of ... Read More

Inform, Inspire & Ignite Logo

Find Catholic Online on Facebook and get updates right in your live feed.

Become a fan of Catholic Online on Facebook


Follow Catholic Online on Twitter and get News and Product updates.

Follow us on Twitter