Tuesday’s Headlines: Biden’s Climate Plans Equals More Tech Jobs
Here were the biggest movers in the MyWallSt shortlist yesterday:
Moving Up ⬆️
iRobot (IRBT) +17.1%
Teladoc (TDOC) +9.2%
Nautilus (NLS) +8.5%
ShotSpotter (SSTI) +4.8%
Tesla Motors (TSLA) +4.0%
Moving Down ⬇️
Coupa Software (COUP) -6.9%
MercadoLibre (MELI) -4.3%
DocuSign (DOCU) -4.2%
Eventbrite (EB) -4.1%
StoneCo (STNE) -4.0%
1. More than 150 world leaders, celebrities, and executives signed an open letter to President Joe Biden to pledge their support in fighting global warming. Amazon (AMZN) boss Jeff Bezos and Ford Motor Company (F) executive chairman Bill Ford stated: “When I hear the words climate change, I hear jobs.” Biden’s plans of rebuilding infrastructure sustainably, upgrading buildings, and investing in clean energy technology will potentially create thousands of jobs in the technology sector. In further good news for tech, Biden also made a commitment yesterday to replace the entire federal fleet with electric vehicles. This promise is also tied to a broader initiative to create 1 million new jobs in the U.S. auto industry. See the full story here.
2. Yesterday, Twitter (TWTR) launched the 'Birdwatch' forum to combat misinformation in its app. The feature hopes to build a community of Birdwatchers that can help moderate and label misleading or harmful tweets. At first, project ‘Birdwatch’ will only be available to a small number of users while demos showed an area where tweets were discussed in a fashion similar to both Reddit and Wikipedia’s moderation tools. This community-based flagging model is a step in the right direction following the increased pressure Twitter has recently faced over the rampant misinformation on its platform. More on the story here.
3. Facebook (FB) will start rolling out its ‘Facebook News’ product in the U.K. today, a feature that will pay certain publishers for their content. The new product, which competes with Apple News, is said to provide “informative, reliable and relevant news” to readers. The social media company said that it has already signed up Channel 4 News, Daily Mail Group, Financial Times, and Sky News to the product. Facebook News aims to put original journalism in front of new audiences as well as providing publishers with more advertising and subscription opportunities to help these companies build sustainable businesses. Google (GOOG) is also being pressured to pay publishers and the search giant has just struck a deal with French publications. Read more here.
There are 3 companies from the MyWallSt shortlist that will report earnings today: