1) Desktop-friendly websites appear higher in the rankings for searches made from desktop computers
2) Mobile-friendly websites appear higher in the rankings for searches made from mobile devices
To be fair, it was misleading that the WSJ article said "Google is changing its search algorithm Tuesday to favor sites that look good on smartphones."
1) Desktop-friendly websites appear higher in the rankings for searches made from desktop computers
2) Mobile-friendly websites appear higher in the rankings for searches made from mobile devices