Google Raises Cash � and Speculation

Google celebrated its first year as a publicly traded company Thursday by raising even more money.

Google filed plans with the SEC Thursday to sell about $4 billion in shares to raise money for general corporate purposes and possible acquisitions. With a cash balance of $3 billion on hand — and growing — analysts speculated that Google may be raising a war chest for acquisitions.

Analysts said Google may wish to increase its stake in Baidu.com , billed as the “Google of China,” following Yahoo’s $1 billion investment in Alibaba. Indeed, Google cited “significant competition from Microsoft and Yahoo” in its SEC filing. Other analysts said Google may be interested in making a play for VoIP provider Skype or planning telecom or broadband moves.

Google shares lost 1.8% on the day.

The broader market traded mixed on concerns about economic growth, inflation and high oil prices.

The Nasdaq lost 9 to 2136, the S&P slipped 1 to 1219, and the Dow added 4 to 10,554. Volume declined to 1.81 billion shares on the NYSE, and 1.43 billion on the Nasdaq. Decliners led 19-12 on the NYSE, and 18-11 on the Nasdaq. Downside volume was 65% on the NYSE, and 68% on the Nasdaq. New highs-new lows were 57-32 on the NYSE, and 48-45 on the Nasdaq.

Brooktrout soared 35% on news that it will be acquired by the parent of Excel Switching. CyberGuard edged higher on news that it will be acquired by Secure Computing .

Network Appliance added 2% after beating lowered estimates, and Synopsis rose 9% on its results.

Salesforce.com fell 8.5% after the company lowered forward guidance, and C-Cor tumbled 17% on its results.