Friday’s Headlines: The House’s Big Tech Crack Down

Friday’s Headlines: The House’s Big Tech Crack Down

Here were the biggest movers in the MyWallSt shortlist yesterday:

Moving Up ⬆️

ShotSpotter (SSTI) +7.0%

Coupa Software (COUP) +5.4%

Twilio (TWLO) +4.8%

Cloudflare (NET) +4.7%

Spotify (SPOT) +4.2%

Moving Down ⬇️

Stitch Fix (SFIX) -4.5%

Nordstrom (JWN) -3.2%

Baozun (BZUN) -3.1%

GoPro (GPRO) -2.9%

DraftKings (DKNG) -2.4%

1. In a statement released on Thursday, the U.S. House of Representatives Judiciary Committee approved a report accusing Big Tech of crushing rival firms. The 400-page staff report, first released back in October, will be used as a blueprint for legislation to curb the market power of Alphabet (GOOG), Apple (AAPL), Amazon (AMZN), and Facebook (FB). Representative David Cicilline stated that “This monopoly moment must end.” Suggested legislation ranges from barring these companies from operating the markets in which they also compete in to allowing antitrust enforcers more power in preventing companies from purchasing rivals. Read more on the report here

2. MyWallSt’s latest stock edition, DraftKings (DKNG), was just picked as one of the NFL’s sports betting partnerships. Along with other NFL partners, Caesars and FanDuel, DraftKings will be able to use NFL trademarks for betting promotions and will also gain access to NFL highlights and Next Gen Stats data which will help the firms set betting lines in a content-sharing deal. Financial terms were not disclosed but the five-year pacts are estimated to be worth just under $1 billion combined. With the partnership, DraftKings will get more brand exposure to league media properties like the NFL Network and NFL RedZone channels. Following the announcement, DraftKings stock has risen up to 5% in after-hours trading. See more here

3. Roku (ROKU) and Nielsen Holdings' exciting partnership was closed yesterday after the transaction was first announced last month. Roku is acquiring Nielsen’s Advanced Video Advertising (AVA) business, while the latter will add Roku's platform to its existing ad and content measurement system. Roku shareholders have been focused on the potential for the brand-agnostic streaming platform to expand its ad business to linear TV by using Nielsen's ad tech to negotiate other content and distribution deals. Roku's core market, connected-TV advertising, is estimated to hit $14 billion in 2022 — meaning the company may have just expanded its addressable market by 25% with the deal. Check out the full press release here.

NicoleNicole

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