Salesforce Acquires Israeli AI Marketing Company Datorama
U.S. sales and marketing company Salesforce (CRM) announced the purchase of Israeli cloud-based artificial intelligence-aided marketing company Datorama Monday in a deal worth more than $800 million, according to Israeli media.
The company did not disclose the terms of the deal.
Datorama has more than 3,000 customers currently, including PepsiCo, Ticketmaster, Trivago, Unilever, Pernod Ricard and Foursquare.
David Solomon to Succeed Lloyd Blankfein at Goldman, Reports Say
Goldman Sachs (GS) will name company president David Solomon as the man to succeed CEO Lloyd Blankfein, sources told CNBC Monday. The announcement will be made on Tuesday, according to the news network.
Solomon, 56, will be allowed to put his own management team in place, according to reports, though Blankfein will stay on for a transition period. Blankfein has been at the helm of one of Wall Street's most prestigious banks for 12 years.
Goldman is scheduled to release its quarterly results Tuesday as well as hold a conference call with the bank's managing directors on Monday.
The EU Says Airbnb Needs to Be More Clear on Pricing
The European Union says that Airbnb needs to be clearer about the final price of bookings on its website in order to be in line with the union's consumer protection laws.
"But popularity cannot be an excuse for not complying with EU consumer rules. Consumers must easily understand ... how much they are expected to pay for the services and have fair rules for example on cancellation of the accommodation by the owner," EU Justice Commissioner Vera Jourova said in a statement, according to Reuters.
Airbnb responded by saying that it is attempting to make its hidden fees more visible.
"Guests are made aware of all fees, including service charges and taxes, prior to confirming their decision to book a listing, and we will work together with the authorities to clarify the points raised," the company said in a statement, according to Reuters.
IMF Believes Global Economic Expansion Has Concluded
Rising trade tensions are contributing to the plateau of global economic expansion, according to a report published by the International Monetary Fund.
"In the United States, near-term momentum is strengthening in line with the April WEO forecast, and the U.S. dollar has appreciated by around 5% in recent weeks," the IMF note read. "Growth projections have been revised down for the euro area, Japan, and the United Kingdom, reflecting negative surprises to activity in early 2018."
The international bank also noted that growth is progressing at an uneven pace among emerging markets, reflecting the combined influences of "rising oil prices, higher yields in the U.S., escalating trade tensions, and domestic political and policy uncertainty."
Deutsche Bank Jumps 8% on Earnings Update
Shares of Deutsche Bank (DB) were up 7.8% Monday morning after the German bank said that second-quarter earnings will be significantly better than Wall Street's expectations on July 25.
The bank expects net income of 400 million euros compared to consensus estimates of 159 million euros.
The announcement represents a compliance with German regulations that require publicly traded companies provide updates if their expected bottom line is significantly different from forecasts.
The news comes amid a cost-cutting initiative undertaken by CEO Christian Sewing since he took over the job in April.
Bank of America Stock Climbs Along With Quarterly Profit
Shares of Bank of America (BAC) were up 1.7% in morning trading Monday after the bank booked a second-quarter profit of $6.784 billion, a 33% increase over the $5.106 billion it reported last year.
The company reported earnings per share of 63 cents, topping analysts' 57 cents per share expectations.
A 4% increase in deposits and a 2% increase in loans helped push the company's bottom line higher. Trade revenue also increased 7% to $3.596 billion.
The bank also cut expenses 5% to $13.284 billion from $13.982 billion.
U.S. futures were basically flat ahead of the market open Monday, July 16, with the S&P 500 dipping slightly into the red.
Dow futures were up 0.03%, indicating an open 8 points higher, while Nasdaq futures rose 0.03%, indicating an open 2 points higher, and S&P 500 futures were down 0.05%, indicating an open 2 points lower.
Asian markets were mixed with the Hang Seng rising 0.05%, while the Shanghai Composite dropped 0.83%, and the Nikkei rose 1.85%.
In Europe, the FTSE 100 was down 1%, the DAX was falling 0.09%, and the CAC 40 gained 0.05%.