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Here are five things you must know for Thursday, Nov. 16:

1. -- U.S. stock futures suggested Wall Street would rebound on Thursday, Nov. 16, after earnings from retail giant Walmart Stores Inc. (WMT) - Get Free Report  came in above estimates and as House Republicans planned to vote on their version of U.S. tax reform.

GOP leaders in the House said they were confident they have the votes to pass the bill.

In a tweet on Wednesday, Nov. 15, Donald Trump said, ""Big vote tomorrow in the House. Tax cuts are getting close! Why are Democrats fighting massive tax cuts for the middle class and business (jobs)? The reason: Obstruction and Delay!"

However, Sen. Ron Johnson of Wisconsin potentially threw up a roadblock to tax overhaul after he became the first Republican senator to say he opposed his party's tax legislation. The Senate is expected to vote on its tax plan early next month.

U.S. stocks on Wednesday finished lower as investors remained uncertain over the future of tax reform and oil prices fell sharply.

The economic calendar in the U.S. on Thursday includes weekly Jobless Claims at 8:30 a.m. ET, the Philadelphia Fed Business Outlook Survey for November at 8:30 a.m., and Industrial Production for October at 9:15 a.m.

Cleveland Federal Reserve Bank President Loretta Mester is scheduled to give the keynote address at Cato Institute's 35th Annual Monetary Conference: The Future of Monetary Policy, in Washington at 9:10 a.m. 

Walmart earned $1 a share on an adjusted basis in its third quarter, 3 cents above analysts' estimates. Revenue in the quarter was $123.18 billion; analysts expected $121 billion. The stock jumped 3.4% in premarket trading on Thursday.

The world's largest retailer also raised its 2018 outlook for adjusted earnings per share.

Viacom Inc. (VIAB) - Get Free Report  posted fiscal fourth-quarter adjusted profit of 77 cents a share, below expectations of 86 cents. Revenue was $3.32 billion vs. estimates of $3.23 billion.

Best Buy Co. (BBY) - Get Free Report  reported third-quarter profit of 78 cents a share, meeting forecasts. The electronics retailer said it expects fourth-quarter adjusted earnings of $1.89 to $1.99 a share; analysts are calling for earnings of $2.03.

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2. -- Mattel Inc. (MAT) - Get Free Report has rebuffed Hasbro Inc.'s (HAS) - Get Free Report latest takeover approach, people familiar with the matter told Reuters. 

Mattel informed Hasbro its proposal undervalues the company and doesn't sufficiently take into account the potential for regulators to reject the deal based on antitrust concerns, the sources told Reuters.

The terms Hasbro has proposed for its rival toymaker couldn't be learned, and it is not clear whether negotiations between the two companies will continue. The companies have engaged in multiple rounds of deal talks over the last two decades, Reuters noted.

Mattel shares fell 1.8% in premarket trading.

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3. -- Time Inc. (TIME) is in talks again to sell itself to Meredith Corp. (MDP) - Get Free Report , with the deal being backed by billionaire brothers Charles G. and David H. Koch, The New York Times reported.

The Times said that current discussions are a revival of earlier unsuccessful talks between Meredith and Time, adding that the involvement of the Kochs could spur the deal to fruition.

The paper, quoting unnamed sources with knowledge of the talks, said the Kochs would back Meredith with an equity injection of $500 million. The Times said a spokesman for Koch Industries declined to comment on Wednesday. Representatives of Time and Meredith couldn't be reached lfor comment on the report.

Time, which includes more than 100 brands and publishes Sports Illustrated and People, was up for sale this past spring and had held talks with Meredith, which includes among its publications Shape, Better Homes and Gardens and Family Circle.

4. -- Shares of Cisco Systems Inc. (CSCO) - Get Free Report  were rising 6.7% in premarket trading on Thursday after the networking giant matched fiscal first-quarter earnings expectations and said it would return to growth in its second quarter. 

CEO Chuck Robbins told investors that software and recurring revenue growth continues. Robbins also touted Cisco's partnerships with large customers such as Alphabet Inc.'s Google, Microsoft Corp. and Alibaba Group Holding Ltd. that are developing hybrid cloud architecture. 

Cisco earned 61 cents a share in the quarter, topping forecasts of 60 cents. Revenue of $12.1 billion declined 2% but matched forecasts. Importantly, Cisco said it expects fiscal second-quarter revenue to grow 1% to 3%, with non-GAAP earnings of 58 to 60 cents a share.

Cisco Forecasts Return To Growth, Shares Jump

Cisco's Earnings Have Much in Common With Beat-Up IBM

5. -- It looks as if Nelson Peltz has won his boardroom battle at Procter & Gamble Co. (PG) - Get Free Report after all. 

After preliminary results issued by P&G last month showed that the insurgent investor behind Trian Fund Management had just under 50% of the vote, Peltz said he wasn't conceding defeat and that the results were "too close to call." He said he was waiting for the final result tabulations by IVS Associates Inc., P&G's inspector of elections.

Peltz said Wednesday, Nov. 15, that the independent inspector reviewed the votes and came to the conclusion that he actually won the election. Procter & Gamble quickly issued a press release noting that Peltz was "ahead" with a lead of about 42,780 shares, about 0.0016% of the vote.

P&G, the packaged goods giant, said that the results were still "preliminary" and "subject to review," suggesting that it wasn't yet fully ready to concede defeat. It added that P&G will disclose the final results after receiving the independent inspector of elections' final certified report "in the weeks ahead."

Nelson Peltz Gets Last Laugh in Bruising Battle With Procter & Gamble

Procter & Gamble Gains in Premarket After Peltz Claims Victory in Proxy Battle

This story has been updated to include earnings from Walmart, Viacom and Best Buy.

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