Shares were boosted by reports that Google was on the verge of settling with the European Union over long-standing anti-trust issues.
The European Commission began the investigation in 2010, looking into how Google ranked its search results and ads. If Google does not settle, it could see a fine as high as 10 percent of its total revenue, which was above $40 billion for 2012.
Removal of that uncertainty is a relief to investors, who bid up the stock to $775.60, beating out its all-time high by a dollar. Shares have rallied 33 percent in the last year.
Written by: Andre Yoskowitz @ 2 Feb 2013 15:12