it's not like we've got a number of em it i seats, come on in, join the disney board, have fun, have course, only a couple of hours after that interview we did learn about mr. gorman and mr. darroche's appointment to the board. d'souza will be stepping off. >> the end of the statement trian intends to take our case for change directly to shareholders. >> it's a proxy fight. >> a fight. >> i wonder if disney named the board members to calm down peltz and the statement says it's better than the status quo but not good enough. >> didn't hurt. we have another potential activist in there as well, we pointed out in value act. there had been some thought that perhaps there would be a board seat there that would act to ameliorate the concerns penalties has. i'm waiting for peltz to make his case. it's different what we've been hearing from bob iger who has been engaged for the last year in trying to turn the company, the strategic fortunes of the company around in any number of other areas. what is it he's not seeing he would like to see? by the way, cost cutting has been a key part of iger's

morgan stanley ceo will have a seat on the walt disney board of directors. t will be february 5, 2024 ahead of the expected proxy fight and reports of interest in a board seat from nelson pelz. jeremy derek will also be appointed to disney's board effective january 9. a former sky ceo. caroline: let's talk about some of the other executives across technology at large. the ceos of meta, x, snap, discord. they have been summoned by the senate judiciary committee to testify on a hearing of child exploitation that has been given a date of january. this comes a few weeks after meta was sued by california and more than 30 states over claims that the social media platforms exploit youth for profit and feed them harmful content. we will have this discussion . this, no matter where you see the lawsuits coming from, from families or ultimately ag's, from a federal level, all of them, are they likely to disrupt the business models of these companies enough that we do see greater protection in whatever guise that you might want to see it happen? internally working at the

. >> there is a qualification level that is required to sit on the disney board, and the board will make the -- not me, the board makes the decisions about who is qualified and who isn't to be on the board. and if nelson officially requests a board seat, i am sure they will go through a process to determine whether he should have a role on the board or not. but it's not like we've got, sure, a fm had of empty seats, come on in, join the disney board, have fun, have at it, help us make seek wuls. >> another controversial issue. elon musk. he defended his decision to have disney's brands stop advertising on x saying the association with musk is not necessarily a positive one. guys. >> interesting, julia. of course, in distant pass, disney once considered buying taylor swift before musk owned it. there was a bit of an exchange with andrew about the current succession process, round two with bob iger back in the role. >> yeah, look, there was a little bit of a joke about how much iger needs to do. iger spoke in his town hall yesterday about how he has been in a fixing mode. now he gets to sh

nelson peltz reigniting e disney proxy drama today. he requested multiple board seats after disney appointed morgan stanley ceo james gorman and former sky ceo jeremy derek this morning. this move coming after bob iger addressed the potential r a proxy fight at yesterday's deal book summit. >> there's a qualification level that is required to sit on the disney board, and the board will make the -- not me, the board makes decisions about who is qualified and who isn't qualified to be on the board, and if nelsoofficially requests a board seat, i'll sure the board will go through a process to determine whether he is -- where should have a role on the board or not. >> cnbc's julia boorstinas news on that and the dividend coming back. julia? disney is reinstating its dividend. paying 30 cents a share for the second half of fiscal 2023, payable january 10th. now, all this comes after nelson peltz's try-ia saying he will seek two or more board seats. he said that the addition of new members will not restore investor confidence or address the root cause behind the signif

board seats to shareholders. it is saying it currently owns $3 billion worth of stock in disney as a result of which it wants a seat the last few days, we have seen the development that james gorman and another are going to be joining the board of disney and they are saying that is not going to be enough. you need us on there as well and it is issuing a statement on the disney board, basically. this one is going to run but it does look as if shareholders may get the ultimate vote on this one. we will see what the reaction is in the share price. it looks like it is dropping a little bit but we will wait and see whether we get something more significant. disney currently trading a little lower. let's turn our attention to the broader market. last day of what has been an incredible winter. abigail doolittle. abigail: we have the nasdaq with the november to remember, down .5%. stock traders perhaps not liking those williams comments around the idea that the economy is rosy and the fed may have to remain restrictive for longer. down about half a percent. as for the month of november, let's take a quick look at it becaus

he's seeking two more seats on disney's board and take his case directly to shareholders.sir jeremy derek to the board will, quote, not in our view restore investor confidence or address the root cause behind the significant value destruction and missteps that this board has overseen. disney has responded saying gorman's focus is on growth initiatives, the success planning processes, and increasing shareholder value. disney also flaming thal another owns 72%. mr. perlmutter was terminated as an employee by disney early teller this year and his voice has longstanding personal agenda against ceo robert a. iger. interesting one to watch. the window opens for nominations to the board on tuesday. >> julia, thank you. we'll continue to follow this one. we'll see what happens. it's very likely going to be more than two. >> i'm sure of that. again, though, we're kind of talking about -- speaking for 2% of the outstanding faires. it will be tough. if the stock works in the absence of any move on the board, i don't think anyone will mind that either, which is what happened the last

they had a fake disney board meeting.ne guy who said "i know. put a check in it and make it really lame." it was very funny. >> harold: you feel validated here? some of this pullback is happening. it's really a market doing it. >> jesse: i'm not a fan of disney world. i've had bad experiences. i got food poisoning at epcot. then i had really bad seeds at a parade when i was little. and so emma is taking both children to orlando this january. i'm not going. not because i don't want to go. i need to be here. i need to be working. >> judge jeanine: you are going to send her there alone? >> jesse: she is going on a flight with two children. i think she's crazy. but she wants to go so i'm going to let her go. other people care. they are principled consumers. when they say all that video that i aired at 8:00 with tinker bell at the urinal, people said i'm never going back. me, i would go back. i see songs. i don't care if that person hates fox. i'll turn it up. i will go to a restaurant that do nero owns cut out, if the food is

>> peltz still wants on the board, jim you tell me. >> there's a lot of things that are wrong. >> and disneyoes not want him on the board so, there is still a potential of a fight there i think there's a sense after this last quarter that disney is in a better position, certainly, than it was a short time ago we've reported on and talked about the fact that much of the stake the trian claims is really ike perlmutter's stock >> what's the matter with that >> they didn't put up their own money. >> who cares >> what do you mean, who cares >> how about this? the stock is down big, and ike perlmutter has every reason to beage agitated >> completely true >> he's outsourcing to nelson peltz. >> outsourcing what, like automatic data processing >> we've shared what we have on valueact at this point but they're an important shareholder here it's not one of the -- again, still, percentage-wise, not much >> the deutsche bank piece is talking about a turn >> yes, positive piece >> very positive piece, but look, i think that -- you get these guys the billionaire class. they lose a lot of money after they

i believe he had a board meeting because there was disney news later in the day. >> stuck around for the vice president? >> there was a board meeting. >> musk responding to criticism over that tweet that created the firestorm. this is what he had to say. take a look. >> i'm sorry for that post. it was foolish of me. of the 30,000, it was the most foolish post i've ever done. i tried to clarify six ways to sunday. at least, i think over time, it will be obvious, apart from anti-semitic, i'm pro. all of the evidence in my track record would support that. >> i would encourage you to watch the interview. this is the first time he publicly apologized for it. it was a surprise to me and surprise to the public where we had seen him take the trip to israel. it was viewed as an apology tour of some sort in the midst of the tweet. he said no. he said that was not what had happened. he said he was already planning to go there. a lot of people saw the tweet when he went to israel and said actions speak louder than words. that was his aapoloapology. he never emoted about that tweet. if you get to

board of three people. you want to spice up and d something bold at disney, let's get him on the board. >> the problem is, i think that musk has already told iger where to go, and dethat last night with andrew. what you're alluding to. >> let's talk about john rogers. >> let's talk about that. you must have a lot -- i know you have respect for opposing views and investors as seasoned as he. >> yes. no, i have a lot of respect for john rogers. on this issue, he's dead wrong. let me tell you why he's wrong. if you look at the last ten years, scott, tech has compounded at about 16%. non-tech has compounded at about 6%. now you might say why is that? the reason is because tech earnings have compounded in the mid-teens and non-tech at about 5%. although we had a big step-up in 2023, it was really just a reversion to the mean from the big stem down, the compression we had in 2022 caused by this parabolic increase in rates. war ju we're just back on the trend line and, of course, we don't have the asymmetric setup we had at the start of 2023. i think that tech is going to continue to outperform nontech in 2024. i

, discovery and other companies.— netflix, walt disney, discovery and other companies. today, the boarday, the board voted to approve _ and other companies. today, the board voted to approve the i board voted to approve the tentative agreement that the negotiating committee reached. phenomenal solidarity and support. for their negotiating committee and we are exceedingly grateful for all of the support from the entertainment industry unions who have rallied behind us throughout the strike. this victory is everyone's victory. in this age of artificial intelligence technology potentially changing the entertainment landscape, protections for performers mean the preservation of tens of thousands ofjobs. craft thousands of jobs. craft services, thousands ofjobs. craft services, customers, set builders, camera crews, drivers coming after us, and so many many more. coming after us, and so many many more-— coming after us, and so many man more. ~ ., ., ., many more. and more one more item before _ many more. and more one more item before we _ many more. and more one more item before we go, _ ma

. >> what is the harm ford disney putting him on the board?nt and now the fact that he controls the steak so he has a lot more than before. >> there is potential harm of. is he going to be a team player? certainly there are board members. he could be marginalized. they could listen to him politely and do whatever they want to do. the main risk with someone who has an agenda from what the company leadership has the risk of information getting out of the board room. that is a really serious issue here. very hard to know where they are coming from. that is the last thing. >> but how can his agenda be so different if his agenda the first time seems to be exactly what the doctor ordered because that is what he announced the company was doing and that is when he dropped this. >> having somebody that wants to raise the stock for us i do not see that is necessarily bad for shareholders. i am saying are they looking at long-term or short-term results. is he really investing for the long-term future, is which he claims he is doing. they may have a very

bob iger versus nelson peltz as they add them morgan stanley ceo to the board of disney.gnment with ike pearl motor who was outed by disney. bob iger sharing more on that. you wonder how iger was thinking about that because he took steps to reduce costs within the disney structure. now we are maybe getting to a conversation where we will have more to talk about. iger dismissing the idea of tv network related sales of assets. we are getting to the bigger questions that we will watch closely. we are watching the story of artificial intelligence player openai offering tender shares for employees next month. ed ludlow has been chaffing -- tracking the details on that one. this is bloomberg. ♪ that first time you take a step back. i made that. with your very own online store. i sold that. and you can manage it all in one place. i built this. and it was easy, with a partner that puts you first. godaddy. a few years ago, i came to saona, they told me there's no electricity on the island. we always thought that whatever we did here would be an emblem of what small communities can

board. a number of advertises including ibm . disney, apple, n, warner brothers have paused marketing on the social media platform. x, formerly known as twitter to companies found a long mosque is facing controversy or the height speech that he, after. he posted his endorsement of an anti submitted conspiracy theory on the platform. tell them that a i as a double edged sword, the you and the top code is on it as a by sean to allow the safe return of people to the contested territory of nicole in a car box box who sees the rage and the non offensive and safe, 10 bucks, international court of justice and austin as a by john to ensure the same for ton of those who laugh to during the conflict. by searching those tickets for the west african nation of liberia is set to welcome a new president, its former vice president joyce of boy chi, who beat incumbent george way with just over 50 percent of deval retain this week's tightly contested ronald selections. we are a former football champion, has conceded defeat the west has congratulated bubb

board. a number of major advertises including ibm. disney, apple, and warner brothers have post marketing on social media platform ex, formerly known as twitter. the companies are not a loan mosque is facing a controversy or the height space off the he posted, he's endorsement of an anti submitting conspiracy theory on the platform to bubble if you tell them that liberia and opposition later in the form of vice president, joseph bullock hi is poised to become the country's new president. he bees incumbent george way uh, in the 2nd round of elections with just over 50 percent of the device. international observers side of the election was largely painful despite some violent crashes during the 1st round. and so from a business use use optics often are solved, frank, don't go in the we say they're about never giving up every weekend on the w. hello guys. this is a 77 percent of the platform for these issues and share ideas.

disney. seems like an interesting move. jason: it is an interesting live. i have not spoken to any institutional investor who is not pleased with johnston coming on board. ey does not have a long track record of bringing in external c-suite talent. but investors like the move. jon: given this long list of issues, not just succession, but the teacher of the business overall, should we be drilling into a couple of key things to watch for in the quarter, or are we looking for bigger things of what is to come? jason: there is so many moving parts. i had one institutional investor tell me he has never seen a company with so many plates spinning at the same time. there is a question around assets. we do not know which assets disney wants to hang onto, abc, hulu, espn? there is a question around strategy. disney is unclear about its ambitions when it comes to streaming. visit want to be the nich -- a niche app or a mass-market tv substitute like netflix? unclear. then there is the financials. 10 disney make money and streaming? -- can this be make money in streaming? jon: and how do we juggle that with what an investor like nelson peltz might want and having hu

nelson has been critical of the last cfo of disney, who is on the procter & gamble board as he launchesst campaign against disney. i would also just add, you know, julia, that johnston has had some operational expertise as well. he's been vice chairman since, i think, 2015 or so. and really has presided over a pepsi that 55 quarters of beats, the track record speaks for itself. >> yeah. it will be interesting to see when we start hearing from him on the call, certainly the outgoing cfo christine mccarthy -- former cfo played a very active role on the call, breaking down a lot of the different numbers. disney is restructuring its reporting structure, so the way the company is divided up is changing. we're going to be hearing about more -- hearing more about that on wednesday. but so many different pieces of this disney business. going in different directions. if you think about the growth of the parks, the resilience of the consumer demand for those businesses, the fact that disney is doubling down in the parks business. the other end of the spectrum, they are cutting costs when it comes

board. a number of major advertisers, including ibm, disney, apple, and warner brothers have paused marketing on social media platform. x, formerly known as twitter, the company's owner, you on mosque is facing a controversy over hate speech after he posted his endorsement of an anti semitic conspiracy theory on the platform library and opposition leader and former vice president or joseph. what kind is boys to become the country's new president beat incumbent george way up in the 2nd round with just over 50 percent of the vote. observers said the election was largely peaceful despite some violent clashes during the 1st round. the conflict in guns. it has also cast a shadow over a controversial visit to germany by turkey's president, which had tie you. bird. one has been here in berlin for talks with german chancellor, olaf schultz, the 2 leaders voice sharply different views on the war. and shake weatherstone looking jim and president, frank boucher stein maya and then onto the chancellor rate, went off. schultz was waiting to greet the one with a friendly smile. the usual images from a visi

board. the number of major advertises including ibm. disney, apple, and warner brothers have post marketing on the social media platform ex, formerly known as twitter. the company's own at a long mosque is facing a controversy. always a hight speed. shocked to, he posted his endorsement of an anti submitted conspiracy theory on the platform, public library and opposition. later in the form of vice president, joseph bullock. hi is poised to become the countries next president. he bade incumbent george way. uh, and he's in the 2nd round of elections with just over 50 percent of device. international observers side of the election was largely peaceful despite some violent classes in the 5th rounds. and the un top court has ordered as a buyer's on to allow the site for a ton of people to the contested territory of nicole and i kyra back back. who sees the rates in, in an offensive, in september, the international court of justice, cost as a by john to ensure the safe and unimpeded return of ours he left during their complaint to, to so this after

saying he was quote, not consistently candid in his communications with the board, a number of major advertisers, including ibm, disney, apple, and warner brothers. you have to have paused marketing on social media platform, x, formerly known as twitter. the company's own, or even mosque, is facing a controversy over hate speech after he posted his endorsement of an anti semitic conspiracy theory on the platform of the job of what did you tell them that a i is a double. if you're watching dw news, just reminder of our top story. a 1st consignment of fuel has entered gauze under an agreement, which will see the strip receive delivery of 2 truck loads per day is really greeted consignments after pressure from the us. up next sports life profiles and on on media and gymnast who became european tumble horse champion at 39 more news at the beginning of the next step, the people in trucks injured was trying to feed the city center the straight people's explain the.

. >> bill tried to get me out of disney because it was a horrible movie weekend, but then maybe there's a boardeeting where you get a dividend. >> you never know, jim. >> do you want to get me out? >> you ready to get out yet? >> that never meant a thing to him before. thank you. >> you're welcome. >> yeah, thank you. >> i know. sorry about boeing. i know. i'm sorry. >> just right out there, one of the best stocks. >> it's on me, of course, that he got out of boeing. on me. >> it was. >> the shame. >> i was mortified every time. >> you called a couple of good bottoms. >> my god, do you hear that? david, this is a commercial break. when we come back, will you say that again? >> no. you called them by selling. >> geez, that is so mean. >> that was mean. >> how'd you look in gamestop? i didn't see that movie. >> i'm the first to praise you when you get them right, and you get plenty right. but i'm not going to sit here and say, sometimes when you decide to sell, it's the time to buy. >> you wore that same outfit on tuesday. what do you rotate -- >> i got a lot of pairs of jeans. >> when we come ba

board. jason, back to you you are a disney shareholder how do you view bob iger being back at the helm at disneyhe last conference call that the first year is a fixing year. now pivoting to building the company. a lot of the fixing was focusing away what bob chapek was increasing the subscription model at any cost. they have been losing money with low average per user and bringing people to the platform. now bob iger's job is to turn to profitability. he is doing a really good job. we were at $1.5 billion in operating losses when he took over a year ago. now we are getting close to $300 million in operating losses. that will be flat here as we get into the second half of 2024 shifting that dtc and over to profitability is important bob iger is focused on turbo charging the experience of business which includes theme parks and resorts and merchandise and all of those elements to the disney brand i think bob iger did a good job. i give him a "b" plus in the first year he is focusing on the next wave of growth for disney lineal networks is still a cash flow business. there is not a lot of growth th

board next year. he has amassed a stake of more than $2.6 billion in disney.united states to write back here in europe, austrian real estate group sigma has filed for insolvency in vienna. their former chairman and austrian tycoon was dealt a better blow yesterday after a last ditch attempt to raise emergency funds felder. it makes the co-owner of new york' chrysler building the latest ands one of the most prominent casualties of europe's property crisis. let's take a quick look at some of the events we are watching out for. more inflation data on the docket in the euro area this money, including cpi print from france, italy, and the bloc as a whole. we will bring your coverage right here on bloomberg television. at about 1:30 pm u.k. time, that seems to be the hour that matters for traders. we get a check on the fed's preferred inflation gauge, pc deflator, jobless claims, and keep an eye out for the fifth banking supervision forum in frankfurt. some crosscurrents perhaps from what the federal reserve and the ecb is going to price in off those headlights. at

disney. >> new cfe o coming in. >> yeah. i wonder how this potential proxy fight, which seems likely to take place, in the past, i think that nelson has done a good job in general on boardsd let him on and avoid the fight. they have other things to worry about. >> all right, don't miss an exclusive interview with bob iger tomorrow at 4:00 p.m. eastern time. that is here on cnbc. bob iger tomorrow at 4:00. >>> up next, we've got some final trades. that first time you take a step back. i made that. with your very own online store. i sold that. and you can manage it all in one place. i built this. and it was easy, with a partner that puts you first. godaddy. ( ♪♪ ) sometimes, all the tenacity and grit in the world... ...can't overcome the boundaries we face. ( ♪♪ ) so morgan stanley is partnering with the women's tennis association to remove them. ( ♪♪ ) because this game is for everyone. ( ♪♪ ) all right, sheila, are you throwing a dress like a dad party, a birthday brunch, or a vow renewal for your dogs? yes! the right drinks delivered for any party. drizly. >>> we have a minute, time for the final trades. tim? >> i'm a buyer of the word maleficent. >> long? >> chevron. i

we have the wex wrap-uhere as disney adds james gorman and jeremy darroch as new directors to the boardory activity drops for the second straight month in november. >>> shares of salesforce moving higher after topping estimates. the company reporting a 11% increase of revenue. >>> nascar inking tv deals with amazon and warner bros. and fox. deals worth $47.7 billion. that is according to the wall street journal. >>> and gamestop shares that it posts the best daily performance in two months. >>> let's get a check of how the markets are closing out november. dow would open up almost 200 points higher. for more, let's bring in amy zhang. a top mappnager of 2023 by morningstar. >> good morning, frank. >> the dow would open up 200 points higher this morning. give us a sense of the day ahead. what is your wex wd of the da >> comeback. small cap growth scks is in a bear market for alst three years and largely due to the peri of rapirate hikes. as you have seen, the headwind is turning inta tailwind owly. definitely in 20, i think that should be a strong comeback year. >> one of the things you

sag—aftra chief negotiator duncan crabtree ireland said the majority of the board voted in favour of the deal with netflix, walt disneys discovery and other companies-— brothers discovery and other companies. today the unions national voted _ companies. today the unions national voted to _ companies. today the unions national voted to approve - companies. today the unions national voted to approve by| national voted to approve by 86% vote for a tentative agreement that the negotiating agreement that the negotiating agreement reached with the mptp on wednesday. this has been made possible by the membership does make phenomenal solidarity, and support for their negotiating committee, and we are exceedingly grateful for all of the support from the entertainment industry unions, who have rallied behind us throughout their strike. this victory is everyone's victory. in this age of artificial intelligence technology potentially changing the landscape, protections for performers mean the preservation of tens of thousands ofjobs, craft thousands of jobs, craft services, thousands ofjobs, craft services, costume is, set builde

aware that susan wanted to talk to me and i got a sense that the board was making a decision to make a change at the ceo level of disneystep back. >> and you said to her? >> i said to willow, i'm getting this call. s she said, they may want your advice. she wasn't sure. and i said, well, what if i get asked. until maybe a day or two before, first of all, i was not seeking to return to disney at all. and until a day or two before, i was not anticipating i ever would. and so i asked willow, what do you think? and she said, well, they might not ask you. but if they do, she thought i had to say yes. and i asked why. and she said quickly reminded me, she said you ran the company for over 15 years, you've been at the company -- you were at the company for almost 50 years, you kind of owe it to the company. the board wants you back because they obviously don't feel they have an alternative, at least not at that moment, you owe it to them to say yes. it was very quick. and i realized as i heard her words, she was right. >> what does she say now? >> i haven't talked to her about it. [ laughter ] what does she say now? we -- int

board meeting later ontoda. . ~' . on today. thank you so much indeed. the news comes as one of the biggest players, disneys latest update to investors. its share price has slumped to the lowest in a decade, on concerns about the decline in traditional tv channels. last year disney brought veteran ceo bob iger out of semi—retirement to try and turn the company around and regain investor confidence. he has pledged to cut costs by more than 7 billion dollars. and the signs are that it is paying off, as michelle fleury reports. it is nearly a year since bob iger made his shocked return to disney following his retirement and having restructured its operations, mr iger, who was on his second go around leaving the media giant, said disney is now moving to its next phase. while we still have work to do to continue improving a result, progress has allowed us to move beyond the spirit of fixing and begin building our business again. an example of that, next month disney will launch a beta test of an app that combines disney+, streaming service, with hulu, another streaming servers. itjust bought the remaining stake

disney going back to the drawing board and doing a lot of rethinking and reinventing the whole franchisean: is this nightmare the sequel if bob iger is the movie? >> he tried his best and if there is any person for the job, anybody who can fix and rebuild disney it is bob iger braided he delivered signature bob iger kind of news yesterday. lots of good news, a lot of nuggets of good optimistic news where investors hang onto. obviously there is a lot of work that remains to be done but we know there are some real drivers for disney. whether it's the parks business. at 70% of their operating income. so that definitely is a huge growth alert for the company and they are course is streaming and how to manage that business. the big question is how they will manage the espn transition. and whether that disney bundle, the streaming bundle becomes the competitor, a true competitor to netflix. >> is rebuilding a euphemism for shutting it down in terms of streamlining certain businesses and getting off selling the rest of it. >> he seems to actually walk back a little bit of the linear -- we've ta

because they have always tried to maintain the integrity across the board, including with abc, and including with espn that they had with disneybut that is a different consumer market than espn, and to betting. vonnie: you mentioned disney. these are consumer stocks though. >> they are consumer stocks, but i'm looking at the hot ones, disney, which is tried-and-true putting great mechanisms in place, but vf, the stock has just fallen so hard. it was founded in 1899, and that is your north face. timberland, dickies. every aspect, smart wall, so skiing season is good, vf is going to turn itself around, but that jan sport come at the backpack they own, it is the right price point because the consumer is not spending. wall street and big money will make big money. the consumer it is squeeze will be buying vf products. vonnie: you do see a recession next year in spite of europe's of the consumer buying certain goods of the. where does the tenure end next year? if you would ask the fed we are at 5.25% now. you would not have been expecting 100 basis points by this time next year, but that is what the market is pricing in. 3.5% is an

. >> he controls two point $5 billion in disney shares in the been pushing for a greater presence on the boardconcern over cost-cutting perhaps not being where it should be and they want to see a better succession plan so the profit increase and more aggressive cost-cutting will help bob iger push back against the plan. earnings came in better than expected. revenue grew 5.4%. it beat streaming losses and gains beat expectations, $150 million for -- 100 50 million subscribers for disney plus and an announcement of seeking additional cost-cutting. so 7.5 billion in annual expense cutting and they have already eliminated 7000 jobs. nelson peltz dropped the initial push for more board seats after bob iger came back on board and shares were up after hours and have been up to present a 3% and the flagship theme parks delivered the biggest profit boost with earnings rising 31%. revenue in the division grew 12% . gains were led by 55% growth internationally, including some properties in asia. disney says most of fy 2024 growth in the parks will be in the second half and that they recommend a dividend

. >>> coming up on "street signs," disney chief bob iger says it is rolling up its sleeves over the nelson peltz boardoncerns. >>> also coming up -- >> vladimir putin and xi are salivating over that fact. >> they go head-to-head in the third debate in miami among republicans. we'll go over the highlights from miami next. the turn of a dial, with zero sugar and zero calories. and cirkul has over 40 flavors, so your water can be as unique as you are. try cirkul. your water, your way. now with even more flavors. available at walmart or drinkcirkul.com. introducing the limited edition disney collection from blendjet. nine exciting designs your whole family will adore blendjet 2 is portable, which means you can blend up nutritious smoothies, protein shakes, or frozen treats, just about anywhere! recharge quickly via usb-c. it even cleans itself. order yours now from blendjet.com and bring a little disney into your life. shipstation saves us so much time it makes it really easy and seamless pick an order print everything you need slap the label on ito the box and it's ready to go our cost for shipping, were

bell here in the cnbc realtime exchange at the big board, it is timberland company weyerhaeuser and at the nasdaq, bang & olufsen. no question disneythe standout on the dow at the open >> yeah. as we've seen the shares looking up about 4%, we're seeing overall some positive tone to that sort of group that we have been talking about a lot the last couple of days, given warner bros. discovery's numbers yesterday brought down the likes of paramount and our parent company, comcast, all of which are up today but disney, in fact, quite strong you know, jim, just to come back to arm for a minute, and that 6% decline, it's the range -- it's the wide range of the guide, isn't it, that seemed to freak people out a little bit. is that fair to say? >> yeah, 27, 21. i want people to understand, i like arm, but when you do that kind of guide, what you say is, well, maybe there's some sort of shortfall lurking. i thought that was a mistake i think they wouldn't have been that underpromise, overdeliver what they should have spent much more time talking about is not this quarter that is in but the next quarter, because i think that's the beginning

disney's quarterly earnings, we will preview retail coming up next week. the european markets are mixed take a look at the eurozone fractional blows across the board higher, and asia overnight markets mostly higher in the overnight section with the exception of hong kong, hang seng index negative, debate night in florida with five gop candidates going head-to-head attacking each other on their records, getting personal even though the mainstream media is hosting them. the highlights coming up when i speak with un ambassador nikki haley live at 8:30 a.m. eastern. joining to the conversation strategic wealth partners mark tepper, colonist tiana lowe doescher and cheryl casone. f"mornings with maria" is live right now. ♪. maria: it's time for the hot topic of hour the house oversight subpoena ian hunter biden, james biden biden associate rob walker into the biden family business dealings hunches attorney says is eager to have the opportunity to testify in a public forum. james comer also requesting transcribed interviews through james biden's wife sarah. the presidents daughter-in-law haley and more predisposed with the chairman on "sunday morning futures" a

board at the new york stock exchange. we are up by about 25 points. another update on the markets next. >> and then disney biggest frozen theme land today at one of its parks. we'll give you a first look and stay with us on the abc seven bay area streaming app at seven for abc, seven at seven. today we're holding our annual broke basic busted, bougie and boozy friends. friendsgiving special. >> i don't know who is broke. >> we aren't actually drinking, but it makes the name better. we love alliteration. we have our recipes, food, celebrations and surprises. it's always a good time. so if you can stream us from 7 to 8 a.m. this morning, all you have to do is download the app wherever you stream. >> come on, say we're not broke. >> i don't know. i rebuke that we are abundant. well, it's giving broke. >> how about that? no it's giving. mine is giving broke. >> well, well, well. >> it's going to be a small thanksgiving. >> that's a problem. >> no. >> here's live. doppler seven this morning. high pressures in control. that's going to lead to really nice conditions across the state today. if you do have to trav

stuart: check the big board, five minutes into the trading session were up 100 points shy of 35000 of the dow, show me the dow winners amongst the 30 stocks, disneyre, 3m is up, walgreen, nike, intel, all on the list, the s&p 500 by target up 15% kimco realty's is on the list, nasdaq composite sirius xm radio jd.com, microchip, but they're not all on the upside where is the ten year treasury yield it is going up this morning 4.51% despite favorable inflation news yields on the treasury up over 4.5% the price of gold on the upside not much a buck 50 and 1968, bitcoin, 36000 just above the level, 36 and $82, the price of oil $77 a barrel. not gas going up a little bit recently because of the cold-weather cost up 2.5% today, the average price for a gallon of regular 334, the average price per gallon of diesel 433. coming up, look at this an op-ed, hilary clinton called for hamas elimination, she says all of the blood shed in gaza is on the tier groups hands, martha maccallum reacts to that president biden meets china's xi jinping for the first of the year, what should biden's objective be in this meeting what we want to get out of it i will ask morg

disney studios which are under scrutiny after several disappointments. iger was not asked about his battle with nelson peltz although i'm sure it will come up in future board> you would think it would. thank you, julia boorstin. no amazon today, and we have a feeling of their own co-pilot. >> despite that we're seeing shares down half a percent and here are the announcements we're looking at and ai has a new chip called trainium2 and it will help wean off nvidia, very similar from what we heard from microsoft a couple of weeks ago at its cloud, vent and we are also going to use nvidia and amd and look, you're starting to see these tech companies and ai leaders go on their own and separate themselves from nvidia as best they can. in addition to that, like you said, a new ai assistant and that's the letter q. this is mostly for developers and information technology professionals and it will cost 20 bucks a month or $21 a month with new features to what microsoft is selling co-pilot for that has more features and more consumer facing, rather, for 30 bucks per user, per month and also going to compete with chatgpt enterprise and microsoft's bing chat enterpris

disney is going to cut even deeper and the cost savings it is targeting along with improvement on the bottom line will help bob iger ward off ongoing activism. increased activism, they are seeking more boardeats. bob iger saying he took a call from nelson pelz but it was not clear what he wanted. of course streaming was the focus, the losses are narrowing in the streaming business and that help the bottom line. in terms of the big question round profitability in streaming, disney said that is something that is possible by the fourth quarter of the fiscal year we just entered. and you look at the disney plus subscriber count, it grew to 152.5 million subscribers overall for disney plus. that is a return to growth, something investors were pleased about. but there are questions about the commitment to content. kriti: you can get a full round up of the stories you need to get your day going in today's edition of "daybreak: europe." you get the micro, the earnings wrap and also the macro. the founder and ceo of citadel, what he has to say about the inflationary environment we are in. he is speaking at the bloomberg new economy form which is currently underway in singapore. a lot of great spea

disney responding, noting its track record of delivering long-term value and noting that it's delivering a $7.5 billion in cost savings, $2 billion more than its original target. also adding the board'sointments yesterday of morgan stanley ceo james gore man and former sky ceo reflect a focus on strategic growth initiatives, e succession planning process and increasing shareholder value. now, they also note that isaak pearl mutter says, this dynamic is relevant to assessing mrm mr. peltz and nominees he may put forward as mr. perlmutter was ousted. carl and sa, cerinly interesting to note the flag of potential sour grapes there. >> disney is getting defensive. thank you very much. julia boorstin. the only point i would make, carl, and we heard earlier from trian and peltz saying they're going to take their case of change directly to investors and shareholders, is what peltz has going for him, what trian has going for them is the stock price. remember in february when he called it off, when peltz called it off here on cnbc, where was the stock? it was at $118. where is it now? in the low 90s and got to the low 80s. i think there's still some questions about iger's strategy. that's pro

board in terms of our opportunities and our challenges, and our strategic direction. we all feel very optimistic about the future of the company. >> reporter: iger told me he was bullish about disney's parks business, despite weakness in florida, and he said he is hopeful about a resolution coming soon in the screen actors' guild strike. and you can find much more of my interview on cnbc.com. >> julia, thank you. julia boorstin. i feel like the question you have to ask at this point is, did we see the worst of it? are we starting to see the other side of this disney turnaround? >> yeah, that's what i'm trying -- i've said that before and it's been wrong. couple things. the free cash flow number was good. $3.5 billion or so. this is now pre-covid level levels-ish, so, good for them. i'll say this. you know, this stock and carter can speak to this, series of lower highs and lower lows, seemingly forever. that stopped in early october, and we traded down to $79, bounced to $86. this recent selloff didn't get us through those lows. got it right back to $79 and here we are at $86. technically, you get a close above $86.5, $87, it looks interesting for the first time in a long time. >> yo

disney, affirm and insta card reports. but first, the latest numbers. dom chu, it's been a weaker picture. >> we have lost momentum throughout the course of the day. right now, it's across the boarde dow down about 1/3 of 1%, 34,050, down about 100 points. the s&p 500 currently sits at 4368, down about nine to ten points, one quarter of 1%. to give you an idea of the trading range today to gauge where we are right now, we were up roughly 13 points at the highs and down 19 points at the lows. so we were positive modestly at one point and have drifted lower. the nasdaq composite, off one quarter of 1%. 13,600, the last trade there. one notable feature of the market right now is the multi, multimonth low that we are seeing in oil prices. right now, u.s. benchmark, down about 3%. just over the course of the last two trading sessions is where we have dipped below that longer term trendline, the 200-day average on a rolling bases. the last time we drifted below that level was in the mid level of july. so this is the lowest level we have seen since july. we'll see whether or not there is any kind of a floor for this, but it's been a decent down trend over the last coup le of months. we

board. we'll see how this day progresses "calls of the day. netflix, the target goes to 510 from 480 reiterated overweight, jpm we do that stock because i wanted to hear your take on disneys our way of segueing to you because we didn't get to hear from you after the earnings report >> i know. >> a darned good day for those shares finally. >> it was. you asked me the other day, is intel finally in the clear i was meh for a while and finally it was, that's how i am with disney. there's a lot of wood to chop here hour takeaway on the earnings call was the granularity, breaking out espn, a 25-page explanation of earnings and their strategy and we think that probably is influenced by nelson peltz. of all the wins from this quarter, not resting on the laurels of, oh, we're disney, we'll tell you how it's doing, i think the big win was them waking up and saying we really need to tell the shareholders with granularity what's going on our thesis is intact which is that theme parks are trading at such a low price, as if the whole company is based on the theme parks, as if everything else has no value. earnings growth should be decent coming up this is a perfect segue. here is what

disney. that's going to report later this week. >> well, we knew that there had to be some changes at the very top. remember, hugh johnston was on the boardt twitter. he didn't fall off the turnip truck. i regard this as one of the most positive things. i talk to hugh every quarter and it's different from talking to a typical cfo. he'll give you his ten-minute overview, which is succinct, smart, tells you what's good and bad. then, he answers questions in a fashion that is so the opposite of most people. he was very much of a hands-on cfo, big loss for laguardia, i think. but if you can get -- they have had an absentee cfo for a while. cfo there actually had a bit of a dust-up with -- and i'm still here. >> there was a big part of the street leading into disney's investor day a few weeks ago that said, why isn't there more excitement? maybe it's because disney has no cfo. how granular can iger get on some of their targets? >> what hugh gives is someone who can talk to the street. they have some people who talk to the street, but they have been very ineffective. hugh is trusted, and the way he's trusted is to say, look, we didn't deliver w

disney+ to take on netflix as a combined adult and kids entity? geetha: absolutely. i think that is what the plan is. at the end of the day, they are looking to get synergy across the board they are going to lose about $3 billion this year. when you combine we are looking at sales of $1 billion to $1.5 billion. scarlet: synergy to me means re- bundling. you are going to have to pay a hefty price to get these different channels. tom: what i am fascinated by is when all is said and done there is hulu and disney+ and they are going to merge and take on netflix. geetha, do you see a true dual opoly? geetha: that is where it is headed. disney may get to 300 million subscribers but this is turning into netflix versus disney versus amazon. scarlet: what about hbo max? geetha: yeah, that is a tough one. [laughter] tom: she is brutal. geetha: that is going to be a second-tier service. scarlet: wow. tom: this goes with discovery+ and max. where am i going to see 90 day fiance? scarlet: you are addicted. tom: geetha, thank you. i do not have hulu at home. i could not figure out how to give them my money. i gave up. scarlet: they make it easy for you to give money. they do not make