Ahead of this week’s trading action, Iranian President Hassan Rouhani sent a message to the global oil industry, demanding “fair” oil prices that would appease both consumers and producers. The Federal Reserve will meet this week to discuss when to hike interest rates in the short term.
That will deliver some broader-market movement, but making news on their own are a few companies, including Salesforce.com, Inc. (NYSE:CRM), Twitter Inc (NYSE:TWTR) and PayPal Holdings Inc (NASDAQ:PYPL)
Here’s what you need to know ahead of Monday’s action:
Salesforce.com, Inc. (CRM)
Salesforce has just announced the launch of a new artificial intelligence platform.
CRM is rolling out Einstein, an addition to its AI and machine learning functionalities that is expected to improve Salesforce’s core cloud products. Einstein can provide a number of recommendations, such as sales leads that are likerlier to convert.
The technology is an addition to the its current products, compiling and analyzing the data stored in the companyto better service its clientele.
In other news, Tony Prophet was recently named as the company’s first chief equality officer.
CRM is up fractionally at the bell, and will try to eat into 6% year-to-date losses.
Twitter Inc (TWTR)
Twitter is facing a lawsuit from a shareholder over claims that the social media site falsely reported its growth projections. The suit was filed in a San Francisco federal court.
In November 2014, Twitter promised that its user base would reach 550 million in the “intermediate” term, while surpassing 1 billion users “over the long term.”
The site has 313 million monthly users, and this figure’s growth is expected to be flat over the next quarter, causing TWTR shares to fall.The shareholder is hoping it becomes a class-action suit.
That said, the suit probably won’t ruffle many feathers. As of now, TWTR was up more than 1% in Monday’s premarket trade.
PayPal Holdings Inc (PYPL)
PYPL shares are off Monday morning amid an analyst downgrade.
Canaccord Genuity just cut PayPal from “buy” to “hold in a research note out this morning, and also lowered their price target from $45 to $40.
According to the firm, “We are optimistic regarding [total payment volume] growth in the near term, but we believe the factors driving this (One Touch, Venmo) are well understood and largely reflected in estimates.”
PayPal is already reaching (but not at) overbought prices amid a quick run in September that had shares up about 10% from Sept. 1 through last Friday’s close. Shares have been challenging all-time highs above $41.
