Markets are erasing morning gains after Italian PM Silvio Berlusconi won a procedural budget vote but without an absolute majority (this could be the beginning of the end of the Berlusconi government.) Shares of GOOG dipped in the negative with the rest of the tech tape. Catalysts include Stephanie Tilenius, Vice President, Commerce, participation at the Citigroup Financial Technology Conference TODAY at 1:05pm ET; continued Android momentum in the smartphone and tablet markets worldwide; Motorola acquisition approval and integration; regaining ground in China; any signs of life for Google TV (including Motorola); the roll-out of Google Music, social network Google+ and Google Wallet; and progress in other newer initiatives (location-based services, mapping, gaming, daily deals, etc.). The stock trades at approximately 12.3x Enterprise Value / EBIT.
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