The U.S. economy has been in a good place in recent months as this country’s global GDP growth is at 3%, which is just right. Meanwhile, U.S. inflation is low at 2% and slightly lower globally, while all major segments of the U.S. economy are trending positively.
Here’s how they did:
Alphabet Inc Class C (GOOG,GOOGL)
Alphabet announced that Google will be more prudent about who it allows to advertise in its platforms.
Senior vice president Kent Walker said that the company’s new efforts include verification of political ad buyers, which means that the company will require that advertisers confirm that they are a U.S. citizen or lawful permanent resident, as required by law.
Ad buyers will need to show a government-issued ID, although it is unclear if this will mean a tax ID number, a passport, a Social Security number or something else. Google will also ask advertisers to offer transparency reports.
Walker said that the company is working on these reports, which will detail who bought ads on Google and how much money they spent. This information will be published and stored in a database that will allow anyone to search for that information.
GOOG shares gained 2.4% Friday afternoon, while GOOGL stock was up 2.4% by day’s end.
Dicks Sporting Goods Inc (DKS)
Dick’s Sporting Goods is continuing its push to lobby for gun control laws.
The athletics store chain is a major firearms retailer in the U.S. and the company announced that it is moving further to ensure that stricter gun control laws are put in place following the earthshaking mass shooting in a Parkland, Florida high school in February.
Dick’s Sporting Goods has retained Glover Park Group to lobby Congress on gun control laws, according to a disclosure form filed in late April. The move may turn down customers, but it will help to ensure that only those who pass background checks can acquire guns.
Following the aforementioned mass shooting, Dick’s Sporting Goods said it would stop selling assault-style rifles and high-capacity magazines. Plus, the company increased the firearms purchase age to 21.
DKS stock gained 0.8% Friday.
Facebook, Inc. (FB)
Facebook recently announced that it is rolling out a dating service, which will be ad-free.
The social media site announced over the weekend that the dating service will not have any ads and that the service will be free to use. Additionally, the company won’t use data linked with a dating profile.
Facebook said that it also won’t monitor user behavior to target them with ads on other Facebook properties. The company’s dating service will link you up with like-minded individuals with recommendations that look at your likes and dislikes.
It is unclear when the company will roll out the service, but Facebook will be testing it over the coming months.
FB shares surged about 1.5% Friday.
As of this writing, Karl Utermohlen did not hold a position in any of the aforementioned securities.