U.S. Markets closed

Fiat Chrysler issues major recall, Hibbett Sports misses on Q1, PayPal raises outlook

Now for a look at some of the companies the Yahoo Finance team is watching for you today.

Fiat Chrysler (FCAU) is recalling 4.8 million vehicles and telling drivers to stop using cruise control because a system failure could block a driver from canceling cruise. It included various Jeeps, Rams, Dodge, and Chrysler models. So far, Fiat says it’s unaware of any related accidents involving affected vehicles.

Hibbett Sports (HIBB) taking a tumble. The stock was down as much as 15% in premarket trading after reporting Q1 earnings. Net and comparable store sales both fell nearly half a percent. Hibbett’s CEO did, however, note branded apparel and e-commerce sales were strong for the quarter.

Bayer is slashing $300M dollars in expected synergies from its planned takeover of seed maker Monsanto (MON). The financial impact comes as the pharma giant plans to sell more businesses than initially intended to get antitrust approval. The news could lead to Monsanto withdrawing from the agreement to ask for a higher price.

PayPal (PYPL) getting a boost. Stifel Nicolaus upgrading the stock from a buy to a hold. That’s because it sees major growth in its consumer-facing financial services and e-commerce offerings. PayPal also raised its three to five-year outlook with adjusted earnings growth of 20%.

Twitter (TWTR) is prepping for midterms by launching new political advertising guidelines. The social media network will require organizations to have an account header, profile photo and name that matches its presence elsewhere on the web. Twitter will also notify users of ads using a special badge on tweets.