Pinterest Shares Surge on Strong AI Ad Forecasts

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Pinterest’s stock soared by 20% on Friday after the company raised its first-quarter revenue forecast, indicating that its AI-driven advertisement tools will boost ad spending on the platform. The surge was driven by Pinterest’s prediction of revenue exceeding expectations, with a focus on its direct response ads, which encourage actions like app downloads or website visits.

CEO Bill Ready highlighted the success of Pinterest’s AI tools, particularly the Performance+ suite, which automates ad targeting and reduces the inputs required for campaign creation. This has been especially helpful for smaller advertisers. “Advertisers using these tools now need 50% fewer inputs to create a campaign,” Ready explained.

Bernstein analyst Mark Shmulik noted that automating the ad creation process makes Pinterest an appealing choice for advertisers, particularly smaller ones, due to the ease it offers. Shmulik also expressed confidence that Pinterest’s progress is sustainable.

In the fourth quarter, Pinterest reported record revenue, driven by strong ad spending from the retail, technology, and financial services sectors. However, advertising spend from food and beverage companies remained weak. Following the positive earnings report, at least 27 brokerages raised their price target for Pinterest.

The company’s first-quarter revenue projection of $837 million to $852 million exceeds analysts’ consensus estimate of $832.8 million. Additionally, its adjusted core earnings forecast of $155 million to $170 million also surpassed expectations.

Pinterest’s stock value could increase by over $4 billion if the gains hold, with the company’s market valuation currently sitting at $22.70 billion. Despite volatility in stock price following earnings reports, Pinterest’s outlook remains positive, with its first-quarter projections further fueling investor optimism.

Automakers Call on USDOT to Restart EV Charging Program

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A coalition of automakers and electric vehicle (EV) charging companies is urging the U.S. Department of Transportation (USDOT) to quickly resume the $5 billion federal electric vehicle charging infrastructure program. The call for swift action comes after the Trump administration announced the suspension of the EV charging program and the reversal of approvals for state-level EV charging plans, pending a new review.

The Electric Drive Transportation Association, which represents members like General Motors, Toyota, EVGo, Walmart, and others, expressed concern over the uncertainty this suspension could create. The group stressed the need for a prompt restart to ensure states and businesses that have invested in EV infrastructure can continue their efforts in line with national transportation goals.

On his first day in office, President Trump criticized the push for electric vehicles, halting the distribution of unspent government funds allocated for charging stations from the National Electric Vehicle Infrastructure Fund. Trump also rescinded a 2021 executive order from President Biden that set a non-binding goal for electric vehicles to make up half of all new U.S. vehicle sales by 2030.

Additionally, Trump proposed ending the waiver that allowed states to implement their own zero-emission vehicle regulations by 2035 and suggested potentially repealing EV tax credits. While the Biden administration’s targets received backing from both U.S. and foreign automakers, the future of such incentives remains uncertain under Trump’s leadership.

Last week, U.S. Transportation Secretary Sean Duffy directed regulators to rescind the stringent fuel economy standards under Biden, which aimed to reduce fuel consumption in cars and trucks, as well as the associated climate regulations. The National Highway Traffic Safety Administration has set a goal to increase Corporate Average Fuel Economy requirements to about 50.4 miles per gallon by 2031, up from the current 39.1 mpg for light-duty vehicles.

Accenture Drops Global Diversity and Inclusion Goals Amid Political Shift

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Accenture has announced the decision to discontinue its global diversity and inclusion (DEI) goals following an internal evaluation that considered the evolving political environment in the U.S. According to an internal memo shared with Reuters, the company will begin phasing out the diversity targets it set in 2017 and will no longer focus on career development programs for specific demographic groups.

This move reflects the broader trend among major tech companies, such as Meta, Alphabet, and Amazon, that have also scrapped their DEI initiatives in response to changing U.S. political dynamics, particularly during Republican President Donald Trump’s tenure. Accenture’s CEO, Julie Sweet, noted that the shift aligns with new executive orders from the Trump administration and the company’s evaluation of its internal policies.

Since President Trump’s inauguration, the administration has made efforts to dismantle DEI programs within the federal government and the private sector. Accenture’s decision to end its DEI goals means that these objectives will no longer be a part of performance evaluations for employees. Additionally, the company will pause its participation in external diversity benchmarking surveys and review its external partnerships related to DEI as part of a broader refresh of its talent strategy.

Accenture’s past diversity efforts had led to significant representation, with women comprising 48% of its workforce and 30% in managing director roles, as per its most recent annual report. The company also had specific race and ethnicity diversity goals for its U.S. and UK branches, which it introduced in 2020.

Meanwhile, proxy advisory firm Institutional Shareholder Services recommended that Apple investors vote against a proposal to remove the company’s DEI policies, reflecting a wider conversation about the role of diversity programs in major corporations.