A nearly 4% drop in shares of Google (Nasdaq: GOOG) on Monday weighed on exchange traded funds that invest in Nasdaq-listed stocks. The tech giant’s shares was failing after Motorola Mobility (NYSE: MMI), which Google is in a deal to acquire, preannounced lackluster quarterly revenue.
Motorola Mobility after Friday’s closing bell estimated its fourth-quarter revenue totaled $3.4 billion, below consensus estimates. It expects “modest profitability” for the quarter and said its results were hurt by the increased competitive environment in the mobile device business.
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