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2 Risks for Google Stock: Colin Gillis

Two factors – Motorola Mobility and click pricing – prevent Google shares from being a "buy," Colin Gillis of BGC Partners said Tuesday on CNBC.

"Motorola is a millstone," he said. "It's the gift that keeps on giving from a negative perspective."

On "Fast Money," Gillis noted losses in the unit for the September quarter and said that additional losses were likely for the fourth quarter.

"You still have expenses growing much faster than revenue," he added.

The other headwind was the result of mobile, Gillis said.

"In terms of the core business, the only thing that has me concerned is click pricing," he said. "We're a little more pessimistic than our peers. We're looking for click pricing down 11 percent. That'd be the fourth quarter in a row of double-digit click pricing declines. And this is because of the mobile explosion, and because mobile clicks are less effective, advertisers are paying less for them."

Gillis also said that he didn't think Facebook's new graph search would pose a threat to Google anytime soon.

"It's not a risk I view in the near-term," he said. "It's certainly something you want to watch, the whole concept of social search and turning to your social graph for recommendations as opposed to Google, but, you know, Google's core search business is a wonderful business. It's a powerhouse. They're the leader, and they're going to be a leader for many, many quarters."

Trader disclosure: On Jan. 22, 2013, the following stocks and commodities mentioned or intended to be mentioned on CNBC's "Fast Money" were owned by the "Fast Money" traders: Joe Terranova is long VRTS; Joe Terranova is long AAPL; Joe Terranova is long GS; Joe Terranova is long AXP; Joe Terranova is long MS; Joe Terranova is long GLW; Joe Terranova is long DELL; Joe Terranova is long SWN; Joe Terranova is long XOM; Joe Terranova is long RIMM 18 PUTS; Mike Murphy is long GS; Mike Murphy is long TGT; Mike Murphy is long FB; Mike Murphy is long EBAY; Mike Murphy is long USG; Josh Brown is long AAPL; Josh Brown is long C; Josh Brown is long JPM; Josh Brown is long WFC; Josh Brown is long GDX; Josh Brown is long GLD; Josh Brown is long XLU; Josh Brown is long TLT; Josh Brown is long XLF; Josh Brown is long WMT; Josh Brown is long TGT; Josh Brown is long CVX; Josh Brown is long JNJ;

For Colin Gillis
BGC Financial or affiliate beneficially owns or controls 1% or greater of shares of the subject company: GOOG; Subject company is an investment banking client: GOOG; BGC Financial or affiliate beneficially owns or controls 1% or greater of shares of the subject company: AAPL; Subject company is an investment banking client: AAPL; Subject company is an investment banking client: EBAY; BGC Financial or affiliate beneficially owns or controls 1% or greater of shares of the subject company: EBAY.

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