Walmart (WMT) stock is rising after the company reported better first-quarter profits. Meta Platform (META) is the subject of an EU child safety investigation. Chubb (CB) stock soared after it was revealed that the insurance company was a mystery stock that Warren Buffett’s Berkshire Hathaway (BRK.A) (BRK.B) began building a position in last year. ing. Microsoft (MSFT) has ordered hundreds of employees in its China-based cloud computing and artificial intelligence (AI) business to travel abroad amid heightened tensions between the two countries over sensitive technology, according to reports. The company is requesting that the company consider a transfer to the company. Shares of Deere & Company (DE) are falling after the company cut its profit forecast for this year again. After markets closed at record highs on Wednesday, Dow futures hit the $40,000 milestone as signs of easing inflation boosted investors’ belief that the Federal Reserve may cut interest rates. It is approaching. Here’s what investors need to know today.
1. Walmart grows rapidly in first quarter with e-commerce and acquisition of high-income customers
Walmart (WMT) stock prices rose about 90 minutes before the opening bell after the company announced better-than-expected sales and bottom line results for the first quarter of fiscal 2025 on the back of increased e-commerce sales and “stock price appreciation.” It rose 5% before. -Income” customers. The retail giant reported revenue of $161.5 billion, beating Visible Alpha’s average estimate of $159.5 billion, and earnings per share (EPS) of 63 cents, beating expectations of 51 cents. Walmart expects net sales to increase 3.5% to 4.5% this quarter, with full-year net sales growth “at or slightly above” previously expected 3.0% to 4.0%. He said he expected that.
2. Meta faces EU investigation over child-safe content
Meta Platforms (META) became the subject of a new regulatory investigation on Thursday, with the European Union announcing a formal review to assess whether the social media giant had breached online content laws surrounding child safety risks. It was announced that the process had begun. The European Commission, the EU’s executive arm, said in a statement whether the company’s Facebook and Instagram platforms and algorithms “could stimulate behavioral addiction in children and cause a so-called ‘rabbit hole effect'”. He said he was investigating. “We also had concerns about age guarantees and verification methods.” Meta shares fell less than 1% in premarket trading.
3. Chubb jumps in as Buffett’s Berkshire reveals $6.7 billion stake in insurance company
Chubb (CB) shares are on the rise after a regulatory filing revealed that Warren Buffett’s Berkshire Hathaway (BRK.A) (BRK.B) has acquired a significant stake in the Zurich-based company. The investment company’s stock price has soared nearly 8% in pre-market trading since then, and the investment company’s stock price has climbed even higher. Insurance company portfolio. Berkshire owns about 26 million shares of Chubb, the world’s largest publicly traded property and casualty insurance company, with a market value of about $6.7 billion as of March 31, making it the conglomerate’s ninth largest holding. Berkshire owns GEICO and National Indemnity, among other insurance companies, which fit into the legendary investor’s “buy-and-hold” philosophy because they provide a stable source of capital that can be put into long-term investments. are doing.
4. Microsoft reportedly asked China-based AI staff to consider relocating overseas
Microsoft (MSFT) will reportedly lay off hundreds of employees in its China-based cloud computing and artificial intelligence (AI) business as the Biden administration tightens controls over China’s access to cutting-edge US technology. The company is asking them to consider relocating overseas.. The company offers around 700 to 800 engineers, mostly Chinese nationals, the opportunity to relocate to countries such as the US, Ireland, Australia and New Zealand. wall street journal Said. Microsoft stock rose less than 1% in premarket trading.
5. Deere plunges as guidance is lowered due to “challenging market environment”
Deere & Company (DE) shares rose pre-market after the agricultural and construction equipment maker reported weaker quarterly results and lowered its full-year profit outlook amid “challenging market conditions.” It fell more than 5% in trading. The company reported second-quarter sales of $15.24 billion, down 12% year over year, and net income of $2.37 billion, down 17%. The tractor and excavator maker now expects fiscal 2024 net income to be about $7 billion, revised down from its previous range of $7.5 billion to $7.75 billion. This forecast itself was lowered in February.
