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Walmart (WMT) shares are rising after a first-quarter earnings beat; Meta Platforms (META) is the subject of an EU child safety probe; Chubb (CB) shares are surging after the insurer was revealed to be the mystery stock Warren Buffett’s Berkshire Hathaway (BRK.A) (BRK.B) had begun building a position in last year; Microsoft (MSFT) is reportedly asking hundreds of employees in its China-based cloud computing and artificial intelligence (AI) operations to consider transferring outside the country as tensions rachet up between Washington and Beijing over sensitive technologies; and Deere & Co. (DE) shares are tumbling after once again lowering its profit outlook for the year. Dow futures are near the 40000 threshold after markets closed at record highs Wednesday as signs of moderating inflation boosted investor bets that the Federal Reserve may cut interest rates. Here’s what investors need to know today.

Walmart (WMT) shares are up 5% about 90 minutes before the opening bell after the company reported higher-than-forecast top- and bottom-line results for its fiscal 2025 first quarter on the back of rising e-commerce sales and “upper-income" customers. The retail giant posted revenue of $161.5 billion, above the $159.5 billion average estimate compiled by Visible Alpha, while earnings per share (EPS) of 63 cents beat expectations of 51 cents. Walmart said it expects net sales for the current quarter to increase by 3.5% to 4.5% and sees full-year net sales growth at the “high-end or slightly above" its previous guidance of 3.0% to 4.0%.

Meta Platforms (META) was hit by another regulatory probe Thursday, with the European Union (EU) saying it has opened formal proceedings to assess whether the social media giant had breached its online content law over child safety risks. The European Commission, the EU’s executive body, said in a statement that it is investigating whether the company’s Facebook and Instagram platforms and algorithms “may stimulate behavioural addictions in children, as well as create so-called ‘rabbit-hole effects,’" and was "also concerned about age-assurance and verification methods." Meta stock was down less than 1% in premarket trading.

Chubb (CB) shares are surging nearly 8% in premarket trading after a regulatory filing revealed that Warren Buffett’s Berkshire Hathaway (BRK.A) (BRK.B) has taken a sizable stake in the Zurich-based company, adding to the investment firm’s portfolio of insurers. Berkshire’s stake of nearly 26 million shares in Chubb, one of the world’s largest publicly traded property-casualty insurers, had a market value of around $6.7 billion as of March 31, making it the conglomerate’s ninth-largest holding. Berkshire owns GEICO and National Indemnity among insurance companies, which fit the legendary investor’s “buy and hold” philosophy because they provide a steady source of capital that can be deployed into long-term investments.

Microsoft (MSFT) reportedly is asking hundreds of employees in its China-based cloud computing and artificial intelligence (AI) operations to consider transferring outside the country as the Biden administration toughens controls on Beijing’s access to cutting-edge American technologyThe company is offering around 700 to 800 people—mostly engineers with Chinese nationality—the opportunity to transfer to countries including the U.S., Ireland, Australia and New Zealand, said. Microsoft shares were up less than 1% in premarket trading.

Shares of Deere & Co. (DE) are down more than 5% in premarket trading after the manufacturer of farm and construction machinery reported declining quarterly results and lowered its full-year profit guidance amid “challenging market conditions.” The company reported a 12% year-over-year slump in its fiscal second-quarter revenue to $15.24 billion and a 17% fall in net income to $2.37 billion. The maker of tractors and excavators now anticipates fiscal 2024 net income of around $7.0 billion, down from the previous range of $7.5-7.75 billion, itself a forecast that had been cut as recently as February.

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A Nigerian political aspirant, Kene Nnadi is lucky to have survived death after he was shot several times and allegedly denied medical services.

The news was shared on X by a close friend of the victim where he revealed that hospitals refused to treat him without a police report.

According to his tweet, his friend had narrowly escaped death after he was attacked and shot several times.

After several back and forths, a hospital agreed to attend to him after which he was flown out of the country to London.

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A yet-to-be-identified bike rider has disappeared with three siblings in Abia State.

It was gathered that the commercial motorcyclist abd¥cted the three young brothers on their home from school on May 10, 2024 in Amaoba Ime Oboro Community in Ikwuano LGA of the state.

The children, eight-year-old Gideon Osinachi, six-year-old Divine Osinachi, and four-year-old Israel Osinachi, reportedly boarded a motorcycle with a commercial cyclist, only to disappear without a trace.

According to their mother, Glory Osinachi, “It happened on Friday at about 4pm while returning from my mother-in-law’s house.”

Gideon is a primary two pupils, while Divine and Israel are both in Nursery 3 and Nursery 1 respectively.

Meanwhile, confirming the incident on Thursday, May 16, the state Police Public Relations Officer PPRO Moureen Chinaka told Vanguard that investigation into the incident had commenced.

“The matter was reported at the police Divisional Headquarters covering that Area, and investigating is on going. However, she was asked to get the picture of her children which she is yet to comply with”, the PPRO said.

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After 42 years in the United Kingdom, a Ghanaian man named Nelson Shardey, would have to wait another decade for the Home Office to grant him permanent residency.

The 74-year-old retired newsagent, from Wallasey in Wirral, had for many years assumed he was officially seen as British, but he was told he was not British in 2019 when he applied for a passport so he could go back to Ghana following the d£ath of his mother.

According to BBC, Mr Shardey first came to the UK in 1977 to study accountancy, on a student visa that also allowed him to work.

He married a British woman and moved to Wallasey to run his own business, a newsagent called Nelson’s News. When that marriage ended, he married another British woman and they had two sons Jacob and Aaron.

“Nobody questioned me. I bought all my things on credit, even the house. I got a mortgage. And nobody questioned me about anything,” he said.

Mr Shardey has performed jury service, and in 2007 was given a police award for bravery after tackling a robber who was att@cking a delivery man with a baseball bat…(continue reading on next slide.)

📷: @bbcnews

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