SMF Notes Massive Put Buying S&P 500 Weekly 1300 Puts

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Comment by ken flagg on June 20, 2012 at 8:49am

SMF Notes GOOG Google target lowered to $615 at The Benchmark Company (581.50 )

The Benchmark Company lowers their GOOG tgt to $615 from $650. The firm reduced estimates based on their 2Q channel checks. They believe Google is likely to miss the consensus estimate for net revenue due to the following: European online advertising has weakened further, the decline in the Euro currency, and, fairly soft domestic search volume; specifically in retail. The firm's net revenue and EPS estimates are now $8.26 billion and $9.94.