Alphabet Stock Rises as Google Avoids Another Business Breakup Attempt

Dow Jones

4 hours ago

Shares of Alphabet rose Wednesday after a federal judge rejected a Justice Department request that Google sell its online advertising business.

Alphabet stock advanced 1% to $338.51 on Wednesday, while the S&P 500 and the Dow Jones Industrial Average both gained 0.5%.

Judge Leonie Brinkema on Wednesday dismissed the Trump administration's move to force Google to sell AdX, the company's online exchange tool for publishers and advertisers.

Brinkema's order comes after she ruled last year that Google violated antitrust laws and illegally maintained a monopoly with its control over which advertisements show up on websites. The Justice Department at the time claimed that Google must sell AdX to stop the company from having monopolistic control.

Wednesday's is the second time Google has avoided a potential court-ordered breakup. A year ago, a judge rejected the Justice Department's request to force a spinoff of Google's Chrome browser and Android smartphones.

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