Google (GOOG) Shares Hit on Lousy Numbers at Takeover Target Motorola Mobility (MMI)

Shares of Google (Nasdaq: GOOG) are continuing lower, now down $20 (3.1%), following weak numbers from acquisition target Motorola Mobility (NYSE: MMI).

After the close Friday, Motorola Mobility said it estimates sales of $3.4 billion with modest profitability on a non-GAAP basis. The consensus is revenues of $3.88 billion and a profit of $0.41 per share.

Motorola Mobility's fourth-quarter results were impacted by the increased competitive environment in the Mobile Device business and higher legal costs associated with ongoing Intellectual Property (IP) litigations.

On August 15, 2011 , Motorola Mobility and Google entered into a definitive agreement for Google to acquire Motorola Mobility for $40.00 per share in cash, or a total of approximately $12.5 billion. The deal remains on track.

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