Monday’s Headlines: YouTube Finally Deal With Disney
Here were the biggest movers in the MyWallSt shortlist on Friday:
Moving Up ⬆️
Teladoc (TDOC) +11.8%
Zoom Communications (ZM) +9.5%
Roku Inc. (ROKU) +8.0%
Lemonade (LMND) +7.0%
Moving Down ⬇️
Starbucks (SBUX) -4.4%
The Home Depot (HD) -2.9%
Ford Motor Company (F) -2.8%
Bumble (BMBL) -2.8%
1. Disney (DIS) and Google’s (GOOG) YouTube finally struck a deal on Sunday after weeks of back and forth regarding the latter’s access to the former’s content. The agreement put an end to a very brief blackout that saw Disney Plus publishing removed from YouTube TV at midnight on Saturday following the expiration of the contract between the two media titans. The deal was at an impasse over distribution fees that YouTube pay to Disney for the rights to stream their content library. Despite no formal details of the contract being released, a spokeswoman for Disney described the appreciation the company has for “Google’s collaboration and willingness to work towards an agreement.” Read more here.
2. Tesla (TSLA) and Elon Musk are once again attracting headlines this morning. The electric vehicle (EV) company has been served with a lawsuit following its enigmatic CEO’s controversial Twitter posts. Musk polled his followers on the platform in early November regarding selling 10% of his stake in the company. Stock prices plummeted as a result, and investors are far from happy. The lawsuit is seeking access to internal documents in an attempt to figure out if Tesla and Musk failed to adhere to their fiduciary duties. This isn’t the first such lawsuit faced by the firm, as a 2018 filing saw Musk and the Tesla board accused of violating an SEC agreement and exposing shareholders to monumental losses. Read more here.
3. Friday saw FedEx (FDX) take in the delivery of its first fleet of electric delivery trucks from BrightDrop – the new EV wing of General Motors. This comes as the delivery firm has expressed its commitment to sustainability, with the goal of buying only electric vehicles after 2025, and having a fully electric fleet by 2040. These are lofty goals for a company with over 87,000 vehicles currently in operation. This new agreement sees FedEx take the first steps to really scale its electric offerings. As Chief Sustainability Officer Mitch Jackson put it, “we need a lot of vehicles in order to make a sizeable difference in our operations.” FedEx has built its reputation on reliability, so investors will be keeping a close eye to ensure these latest vehicles are up to standard. Read more here.
There are two companies on the MyWallSt shortlist that will report earnings today:
Get this week’s full earnings calendar here.