Tuesday’s Headlines: Are Big Tech’s Wings’ Getting Clipped?

Tuesday’s Headlines: Are Big Tech’s Wings’ Getting Clipped?

Here were the biggest movers in the MyWallSt shortlist yesterday:

Moving Up ⬆️

Tesla Motors (TSLA) +3.7%

Atlassian (TEAM) +2.3%

Brown-Forman (BF.B) +2.0%

Hasbro (HAS) +2.0%

The Trade Desk (TTD) +1.9%

Moving Down ⬇️

GoPro (GPRO) -10.1%

DraftKings (DKNG) -6.9%

Ctrip (TCOM) -5.4%

2U (TWOU) -3.5%

Stitch Fix (SFIX) -3.4%

1. Big Tech might be in even more trouble after U.S. Senator Josh Hawley proposed a harsh new bill that would ban all mergers and acquisitions by any company with a market value over $100 billion. Hawley’s new bill would essentially ban Apple (AAPL), Microsoft (MSFT), Amazon (AMZN), Alphabet (GOOG), and Facebook (FB) from making any new deals and would also attempt to stop their platforms from favoring their own products over those of their competitors. The Big Tech critic accused the biggest social media companies of stifling conservative voices and also criticized the pharmaceutical sector, which he said holds too much market dominance and is too concentrated. Read the full article here

2. Apple fans will be happy to hear that the company is working on a new Apple TV device with a built-in camera and speaker. The new camera would allow its users to make FaceTime calls through their TVs, bringing its features on par with the Facebook Portal TV. The speaker could help the Apple TV double up as a HomePod device to play music and speak with Siri. This addition is a much needed upgrade which has been requested by users and would be the first since 2016. Apple still might scrap this project though, but the iPhone maker is expected to announce a new Apple TV with an improved remote control and a faster processor at some point this year. See more here.

3. Yesterday, Datadog (DDOG) confirmed the acquisition of Sqreen, a SaaS-based security company that allows businesses to detect, block, and respond to application-level attacks. Combining the two companies makes a lot of sense as Sqreen has a good product and Datadog already has a strong customer base of businesses already using it to monitor their apps. CEO of Datadog, Olivier Pomel, explained: "In combining Sqreen with Datadog, we're closing the gap between application developers and security teams and providing our customers with robust application security." Datadog shares were up 3.11% yesterday with its total share price for the last 12 months rising over 138%. Read Datadog’s blog post about the deal here