bob iger is very capable to do that.you look across entertainment, another one, it won't be a proxy battle but paramount is considering selling the company given that it's a small player in the changing world from linear networks to streaming. paul: ken leon, director at executive research. thank you so much for joining us. get in-depth analysis from the daybreak team broadcasting live right there in our studio in hong kong. plenty more to come. stay with us. stay with us. ♪ ok y'all we got 10 orders coming in... big orders! starting a business is never easy, but starting it 8 months pregnant... that's a different story. i couldn't slow down. we were starting a business from the ground up. people were showing up left and right. and so did our business needs. the chase ink card made it easy. when you go for something big like this, your kids see that. and they believe they can do the same. earn unlimited 1.5% cash back on every purchase with the chase ink business unlimited card. make more of what's yours. paul: well, in

bob iger has the chops. he has done this before. >> we'll see. >> reason why the stock dropped or not moved higher is in nelson was there, there would be short-term moves. >> i don't know if that is great for long term. >> a long-term bet on bob iger and disney. you won't get a short-term pop. that is to be expected. >> as much as we knew about it, we knew it would not work for nelson. it is weird when it was official. how many days have we been saying it? >> i think people play along with this very bizarre -- >> activist. >> -- bizarre narrative or charade. >> buyback? you raised the dividend. >> you are saying if nelson peltz was there? that is part of the problem. i don't think people knew it. anything that is quick may have hurt it long term. >> i don't know if that popped the stock. >> james gorman said it. a lot of what peltz was looking at is stuff they have already done. >>> let's talk about apple. reportedly looking at developing home robots after abandoning the electric vehicle ambitions. according

bob iger has expressed -- succession. who will succeed bob iger.ow they achieved profitability when it comes to streaming and achieved netflix like profitability. that has also come up. those are things investors will watch. ed: bob iger promised profitability by the end of 2024 come in if you have a proxy battle, you are often in the media where you say i am doing this and everything is great, the pressure is also on bob iger because one of his adversaries -- elon musk -- is still talking about this on social media and it is an interesting dynamic. crystal: elon is someone nelson peltz has called a personal friend and he thinks very highly of elon musk. elon musk tweeted he thinks nelson peltz should be on the disney board. he tweeted it after the retail voting deadline was closed. i do not think it achieved very much when it comes to votes for nelson peltz. elon musk is interested in this situation. whether he will go against bob iger, we did not see that. definitely an interesting dynamic with all of the high-profile billionaires. ed: it is inte

bob iger and nelson peltz on cnbc, who deserve moss

in fact, that's why bob iger came back in many ways. only to sort of get to disney's strategy and culture, but to make up for the fact that he picked bob as the ceo, that didn't work. and now they have to get back to work. so that should be where the focus is, and we heard it that disney is doing a robust succession process. they just reported on monday. there are several others vying for that job, maybe some external candidates we don't know about. but over the next few months here, certainly the investment world is going to be focused on, okay, who is going to be taking over for bob iger, and what is that transition process going to look like? >> nancy, talk about the succession plans. are you pleased with how they're progressing? alex just named a bunch of internal names? i know that disney put out a statement that they're going through a rigorous preparation process. nancy, hold that thought. let's get over to david einhorn at the sohn conference. >> however, value investing and the value investing industry are two different things.

major points of contention in this proxy battle, the leadership of ceo bob iger's hand-picked successorhapek, how iger swept back in and returned in 2022 to steer the ship and get the stock out of muddy waters but also the direction peltz called woke of its movie business. have the white flags been waved, or with iger's contract ending in 2026, is this just the beginning of proxy wars or some other battles that may be brewing here? our disney power panel joins us, cfra director ken leon, he has a $139 price target on the stock, the stock right now if is at a 118. and if here in los angeles, robbie whalen who's been covering every minute of the show down, "wall street journal" reporter. including the vote, which just ended a little over an hour ago, what are the most significant if moments in this proxy fight, and bob iger lean back with all his troubles behind him? >> thanks for having me, liz. yeah, it's been a pretty wild ride. i mean, this is a battle that a got emotional, it got personal. there were a lot of accusations flying around, personal if grudges being with behind it. ike pe

the real news is all we got from bob iger. he activism, peltz, succession, profitability, even some concerns the cultural friction disney has been under. >> yeah. you know, you would sum up the message i think we got out of iger he said it a couple times, we know what we need to do. in other words, the strategy that was in place that has been under way is the one they're going to pursue maybe with more urgency than before. some of the things that the company knows it needs to do, sound like they're simple. the cost cutting, getting the cost footprint of streaming down, streaming profitability is one thing, increasing engagement with streaming customers direct to consumer kind of get that stickier easier said than done but you have to do it. it's worth remembering that they're talking about getting free cash flow basically to precovid peak levels, like fiscal 2018 number, but at the same time, right now, theme parks, experiences, are two-thirds of operating income at this company. that's a good or bad. that means you're reliant

bob iger has made the shareholder friendly changes.ng that with nelson peltz looking over his shoulder. do you want to keep that arrangement going? ed: i go back to the thesis i outlined in the column today, which is what does nelson peltz do next if he is put on the board? bob iger has done a lot in recent time. they are teaming up with warner bros. and fox on the sports side. the tensions with florida have gone away. how has that down with the investor base? felix: it has gone well. there is not a lot of difference with what bob iger's strategy is and what peltz says his strategy is. the one thing i think that is still open is the issue of succession. what is going to happen post-bob iger. do you trust the board to get it right. last time around, the board did not do much due diligence to keep the succession plans on track. ed: if president biden can run again for reelection, why can't i do another 10 years at disney? felix, great to have you in the studio. coming up, we will be joined by david jones, founder and ceo of brenntag abou

bob iger are poised to win the proxy battle.ard and blackrock, disney's largest investors are siding with the board. and while the battle might be nearing to a close, this could have a major impact of markets. a proxy battle in the magic kingdom does not go unnoticed. disney's weight is over 2%. and nelson's proxy stock could move the dough. and joining us with the fallout is bloomberg's ed ludlow. is it in the bag right now for disney and what comes next? >> it's hard to say it's in the bag. good morning. wow, that's a new one. vanguard and blockbuster are in the bag. the institutionals has sided with bob iger but there is an unknown, a wild card which is the largest body or single entity is a group of frankly retail investors that make up 30% of the shareholder base and retail investors historically side with the activists that's bringing the proxy battle. at least 60% of the vote was counted and you factor in as well, the shareholder can change their vote at any time. as reported with george lucas backing iger, the force is s

, is you exclude the period of time -- and maybe this should be obvious -- between the time that bob iger reins to bob chapek and the time that bob iger came back. and during those periods, if you remove the chapek period, of course, things look materially better. p t there and a question mark and this is the argument that nelson p peltz and other investors would make, which is to say a lots of the things that happened during the chapek period were decisions that were started in the bob iger era, and therefore, he should be, quote, unquote, credited or demerited or however you want to think about it with some of that. >> these are decisions that -- bob chapek, it's not a dispute. somebody can create a haze. bob chapek is the one who green lit those loser films. bob iger had eight of the top ten, 15 of the -- 13 of the top 20 all-time box office successes. all those were greater than a billion dollars. every film under chapek didn't come close to a billion dollars. they were disasters. under bob iger just this calendar year, forget history, look at this calendar year, this is the number on

. >>> coming up here on "worldwide exchange," searching for bob iger's successor.ames at the top of the list as the company is fighting for the future with the big board vote this week. we are back on "worldwide exchange" in just a moment. personalized financial advice from ameriprise can do more than help you reach your goals. i can make this work. it can help you reach them with confidence. no wonder more than 9 out of 10 of our clients are likely to recommend us. ameriprise financial. advice worth talking about. ameritrade is now part of schwab. bringing you an elevated experience, tailor-made for trader minds. go deeper with thinkorswim: our award-wining trading platforms. unlock support from the schwab trade desk, our team of passionate traders who live and breathe trading. and sharpen your skills with an immersive online education crafted just for traders. all so you can trade brilliantly. >>> welcome back to "worldwide exchange." look at the year to date dow gainers. disney shares up 36%. we will talk more about that company in a second. followed by catheerp

ed: the argument made before his of joe biden can run for your election as president than bob iger cananother 10 years at disney. i wanted to make it simple for the audience. sorry. ross: iger is in great shape. he is mentally and physically fit. he is writing his bike on sunday mornings at 6:00 a.m. like 20 miles. caroline: he has shown he wanted to exit any had to come back. i think ultimately the new board has really been focused on trying to understand where the path of the future is, who are the candidates -- internal candidates and external candidates. disney is a behemoth. it is not just as exposure to digital. it's parks, experiences, cruises, to vacate shows that go to your movie theaters. how can we find someone who can be basically the consolidated leader of a business like this? ross: you brought up one of the challenging issues. running parks and resorts is nothing like running streaming. to find someone who has the skill to do it all is a big ask. that is why iger and james gorman on the board to help succession. it's a challenge to find somebody with that type of operati

return from disney has been poor, box office flops, problems with streaming, no succession plan for bob igerhould leave. in 26 his most recent contract. >> reporter: disney forgot their product under iger. he was the first component to push us down this agenda. they lost the brand of family values. disney plus was away to push their shows and content in one spot to get excited around the brand, when you get people angry about that brand, pushing political ideas onto you, you lose subscribers. and they raise prices, not a great business model. they are in this middle area where they convince 50% of america, in business 10% of people want to work with you, 10% of the population, your goal as board of director at our company, 80% of america to come to your business, with shareholder value to get. ashley: disney always had the midas touch. what has gone wrong with their box office? why so many flops? is it just getting the wrong, you know, not understanding what the audience wants? >> more about content fatigue. so many options in today's world, disney plus or netflix, what movie to watch, what

peltz is a healthy way to keep bob iger focused on what the key objectives are for disney going forward>> and iger has extended his contract until 2026 and i think is noncommittal about what happen as after that. that's the biggest question. as we know, investors hate uncertainty. what would you like to see, and what would shareholders like to see with rahrd to succession planning? >>. >> succession planning is always a complex business, particularly challenging in the context of bob iger. and, of course, we've been through this process once before with chapak. it didn't work out. he was less familiar with where the future growth opportunities are for disney. now the investors will be looking for someone who can straddle both worlds. so while streaming is incredibly important for your the future of disney, the experience side of the business is one of the key revenue generate erps for the business. it pays approximately a third of the operating costs of the business, and it's growing at a reasonable rate. it grew 7% in the previous quarter year on year. operating margins were up 8% year

bob iger, ceo of disney bat battling.wo seats on the board, disney want to keep current plight of them. the plan in the united states, california public employees retirement system says it's going to vote in favor of nelson felt and jake to join disney's board. the new york city system says it's on team disney. new york city controller brad lander is here first on foxbusiness to tell us why you voted in favor of iger, keuka 2.61 million shares of disney stock which is a big chunk, why are you team iger? >> it's great to be with you. 2.61 million shares are to $90 million, the retirement security of new york city's teachers and cops and firefighters and we are long-term investors. our shares performed well at disney over the long-term of bob iger's readership during the first tenure, 579% and even since his return from the share price has been better than its competitors we are cautiously optimistic about strategic transformation he's proposing and we just don't believe nelson peltz's philosophy is aligned with our long-te

including finding a successor to bob iger which was highlighted in the proposal. still something they need to deal with. disney has an unrivaled stable of brands and they've got the parks business which is doing great and continues to do great. i don't know what they do with espn. and the stock obviously has had a huge run in the backdrop of this fight and it's not cheap here. >> let's talk about some of the proposals and what might still get fluctuated because it didn't garners much support as it did amongst investors. the idea of distributing more of the potential cash flow to shareholders spinning off espn or doing something. what of those you think is most likely to go through. >> i think all of those are under consideration at all times. among the other things as folks continue to focus on the parks and reinvest in the parks comcast owns the universal parks is done for a great extent. i think that's can i happen. as far as there has been a reinvigoration of the content investment looking for more originals. that was impacted by the pandemic as well as the str

a >>> and bob iger keeps the keys to the castle as the proxy fight with nelson peltz comes to an end.e will hear from iger at 14:00 cet. >>> the head of nato proposes a 100 million euro trump-proof aid p package as they look to lock in help for ukraine. >> it is essential. europe is investing more. at the same time, north america also needs europe. >>> now, we start the show looking at pmi data from the eurozone. we are getting the final reading for the uk mi for the month of march. let's show you the numbers. in terms of the composite figure, it came in at 52.8. that is just really below what we had heard before at 52.9. in terms of the services sector, the reading came in at 53.1 which is also slightly lower from 53.4 which was expected. we had seen yields in the gilt market moving lower ahead of the reading. it is also relevant to think about the data as we prepare to understand what can happen in terms of the bank of england. i want to take you to the action from brussels. we are now due to hear the nato secretary-general jens stolt stoltenberg. >> also to discuss a long-term fina

bob iger has pushed back his retirement five different times. he has actually walked away from the ceo job and handed it to bob chapek. that turned into a borderline disaster. and now, he's back as ceo, and there's no clear succession candidate. so, this argument that peltz getting on to the board can act as a sort of adult in the room when it comes to succession may be fairly persuasive to shareholders. >> what happens if disney loses, do you think? what does it mean for iger? look, iger has said he's leaving as ceo at the end of 2026. some people believe him, some don't. at this point, you know, if peltz gets nominated to the board, i suppose you could say investors have said, look, enough is enough now. we need to get serious about this. we need to pick a real successor. you need to leave, and we're going to turn it over now to not necessarily someone else, because nelson peltz is just one person, and even if jay rasulo gets voted on to the board also, that's just two people on the board. i think it would be a sign that would say a lack of co

how is this likely to play out for bob iger?y secured a large chunk of institutional big shareholder support, but 40% of the company stake is held by small shareholders. we will find out in a couple of hours' time what the results are. thank you very much. this is the world business report. the head of the un 5 intellectual property agency says there's no appetite for global regulations governing artificial intelligence or ai — not yet at least. new figures show ai is behind a growing number of patent applications received by the world intellectual property organisation — or wipo — but the overall number of applications fell last year for the first time in ia years. so are difficulties in the global economy getting in the way of innovation? our reporterjonathanjosephs spoke to wipo's director—general, daren tang. i think what we are seeing, there has been a difficult situation economically. interest rates have gone up, money supply has dried up and as a result venture capital flow has reduced considerably. this means that it may

disney's ceo bob iger speaking after disney won the proxy fight. he discussed what the company's priorities are now. >> now, what we have to do is turn not just into a profitable business, into a growth business. a business that has margins that this company and our shareholders -- >> double digit. >> eventually, yes, of course. the way to do that is actually very, very clear to us. it's very, very clear that we need more engagement in terms of consumers spending time on the platform. >> but despite his loss yesterday, peltz said he is not backing away of advocating for change at the media and entertainment giant. >> i hope bob can keep his promises. i hope they can do all the things they assured us they were going to do. and we'll only watch and wait. if they do it, they won't hear from me again. if they don't -- jim, you may be seeing me on your show next year doing this same thing again. >> so, can disney succeed in its execution plans? i mean, he -- at least right now, hopes so. he's got a $3.5 billion stake at last filing. >> well -- yes. and

bob iger has pushed back his retirement five times. hen he did, he handed over to bob chapek and had to come back two years later. that was the argument. in terms of the future of disney, there is a lot that effectively pointed out to investors, but it is unclear him okay the board would have facilitated the answers to the questions. that is what bob iger has in front of him. what is espn's digital strategy? how do you roll that out correctly? how do you chart hits at the box office? disney has been through a multiyear flub. how do you get streaming to profitability? these are all questions for disney beyond the succession question. that is what is going to happen now. >> you laid out some of the three or four points that you think will be on the agenda. streaming, profitability, succession plan, getting hits back into the movie theaters. i wonder now given what you saw with the shareholder vote and what you saw with the dynamic with nelson peltz and the other activists and investors involved with this, how much do you think shareholder

so we're confident they'll choose a competent successor and bob iger will step aside.erman and carolin everlin but the board still lacks credibility. >> thank you for your time. >> thank you. >>> we are going to or i'm going to have an interview with bob iger tomorrow morning at 9:00 a.m. eastern, assuming i can get out of here with the high winds. you're going to china, so that's nothing for me to go to l.a. >> you're going to l.a. for it? >> yeah. >> that's exciting. >> i think you guys will be all right. >> any travel plans you want to share? >> i'm going to denver. >> again? >> so the three of us will be on the roads. >> cities for success this is exciting. >> exactly right. >> when do you leave? >> tomorrow. in case you're curious about our travel plans. >> i'm going with the treasury secretary. >> it's a long trip. >>> bitcoin under esreprsu on the week. what market vet steve cohen thinks about that asset with the dow positive in every sector green except for staples. don't go away. specialists work together to make sure your portfolio and wealth are managed in a

the final chapter of bob iger versus nelson peltz, l street journal reporting disney is leading in the product -- proxy battle. we will bring you the latest on the showdown in the house of mouse. i'm katie greifeld in new york, welcome to bloomberg markets. there is a lot of red on the screen behind me. you can see the s&p 500 off by 1%. it does not help tesla absolutely dropping like a stone this morning which we will get to. even worse if you look at the nasdaq 100. your big tech benchmark off by 1.4%. all the while you have a selloff in the bond market as well. you can see the 10 year treasury up eight basis points. we are just about at 440, the highest level of 2024. we have some breaking employment data in the form of jolt. mike mckee is here to break it down. michael: if you want support for the idea the fed will be on hold longer. this is february data. the number of job openings actually rose in february according to the bls in part because the number in january was revised down so what we end up with is 8 million, 756,000 job openings in february compared with 8,748,000 in jan

the headaches aren't over bob iger.he company is now facing questions on who will be the next ceo. they are also dealing with reviving a struggling movie business and turning a profit in disney's streaming division despite all that, the stock for disney is still up over 31% year to date. at least right now, we can call this a victory for bob iger. caroline: and for peltz as he gets the benefit of that rally. move us onto where we saw anxiety yesterday. we had a devastating human tragedy in taiwan that impacted the chip stocks but today, there seems to be a relief rally. >> i'm looking at the adr for tsmc which is the leader of advanced chips and that company says it's restarting operations less than 24 hours after that earthquake hit taiwan, one of the worst earthquakes in over 25 years. that stock is now up over 2%. i'm also watching that because traders should be looking out for any headlines but jenna and -- that janet yellen makes about the semiconductor industry enter visit to china. that's the second one and nine

investors have voted to elect all company-backed board members, including ceo bob iger, who returned as ceo to lead the company amid a changing media landscape. the results of the vote were made public at disney's meeting of shareholders today. disney saying the current board, according to preliminary vote tabulations, were elected by a substantial margin. tonight, disney ceo bob iger saying, "i want to thank our shareholders for their trust in our board and management. with the distracting proxy contest behind us, we're eager to focus 100% on our most important priorities. growth for shareholders and creative excellence for our consumers." >>> when we come back here tonight, the kansas city chiefs star now apologizing this evening after those cars, one a lamborghini, speeding through dallas, hitting several vehicles, including one with a mother and her 4-year-old. >>> also, getting ready for the solar eclipse across america. tonight, the one thing you'll need for this, made in america. made my life a lot harder. but the picture started changing when i started on vyvgart. ♪ vyvgart i

what's at stake for bob iger and nelson peltz and the rest of the magic kingdom, right after this.hard to run a business on your own. make it easier on yourself. with shopify, you have everything you need to sell online and in person. you can have your inventory, payments, and customers in sync across all the places you sell. it doesn't have to be lonely at the top. join the millions to finding success on their own terms. start your journey with a free trial today. maria and julio thought their life would never slow down. then one day, it finally did. you were made to find inner peace. we were made to track flight prices to paradise. >>> welcome back to "fast money." trouble for the housing market, as high mortgage rates and low supply are combining to keep the cost of home ownership high. diana olick has a deep dive on the numbers. >> melissa, home prices in february were 5.5% higher than february of last year, and the price gained from january to february was actually nearly twice what it was historically p prepandemic, suggesting that this spring's market started out very strong

know what bob iger was doing yesterday?ilms and giving notes on a film coming out in a couple months. he has killed two animated films that he did not think were going to be great. it takes courage to do that once you start the process and say to pull back the films. so he's reinvigorating the slate. he made changes to bring mu wanna and has mandalorian he's excited about as well as the creative team for 2026. part of the strategy was to turn the noise down and we are pleased we came to a resolution in florida. i think it's important we get back to what we do well in florida which is entertain millions of guests and invest in creating jobs for the economy. >> yeah. have you been lately, you to to the parks -- >> twice since i was on. i did not know you were going to ask me that question, and you probably don't have current pictures but i've been twice. >> i hosted a reunion. >> over 52 now. >> to disney world. >> that's crazy. >> one day you will ride jungle cruise as much as i did. >> quickly, carolyn, because you're on th

maria: nelson peltz was upset they kept redoing bob iger, the only guy who can run this coming, take m out, somebody else comes in, not good enough, bring bob back. this is what we are talking about. >> when you look at what michael eisner did until 2005 he was focused on great content creation. bob iger went after lucasfilm, pixar, integrated woke concept in the last few years that backfired. maria: are there areas you want to be in in this soft landing we are expecting which is what the fed keeps telling us that those areas will do better than others? >> look at the valuations, financials, anything that does well when interest rates go down because we know that is coming can. reposition yourself early on. that's where you want to be. maria: we think they are coming. we don't know. >> i don't think they are coming. maria: we will see what happens after june. a pleasure to see you, thanks very much. kathy is here. mark, you were great, thank you. house oversight committee chairman james coburn joined us yesterday, nancy mase is here with reaction to my interview with the oversight cha

bob iger and nelson peltz on cnbc, who deserve moss credit?> they are late paying their suppliers first, a check on the market. the nasdaq continues to be the outperformer. >>> the former ceo barry biller, paramount, that is, saying northern this would be the worst time to sell, and he thinking the company could turn itself around. >>> he's not given any real credit to nelson peltz. >> you can take a listen. >> this whole pros gave the board, an opportunity to engage with many shareholders, perhaps on a deeper level, and have a good, honest dialogue where we had the opportunity to describe what our priorities are and various processes, including succession. we had an opportunity to listen to them and hear what was on their minds as well. if anything came of this that's positive, it did in fact increase the engagement we had with shareholders. that's a very good thing. >> david, i have chuckling when you were asking him is he still having fun, and him insisting he is. is there a chance he stays past 2026? has that been upped? >> i know you aske

. >>> and curtain call for the disney board battle as bob iger and company reportedly move closer totory over activist nelson peltz. it's wednesday, april 3rd. you're watching "worldwide exchange" right here on cnbc. ♪ >>> welcome back to "worldwide exchange." i'm dominic chu in for frank holland this morning. will it ooh is pick up the half hour with a check of u.s. equity futures which are on the offer but not by that much. the dow is implied lower by just about 25 points, the s&p 500 down by 7 points and the nasdaq down by 49 or 50 points. the nasdaq posted its second loss in the last three sessions. the dow leading declines for the week so far, down by just over 1.5% overall. so let's dig further into the market action right now. if you take a look at some of the sectors that have been a key focus for investors in the first part of this year, it has been communications services, energy, and technology. those three sectors, by the way, the three top performers in the s&p 500 on that year-to-date basis. meanwhile the growth versus value debate also still playing out. early on this

maria: i think kelly one big issue for nelson peltz the way they kept pushing bob iger in new contractsack in 2013 he was to be gone 2014 here he is. maria: what do you make of it. adam: i am long disney maria i support bob iger i am glad nelson peltz stirred the pot that is good exposed fault lines actually been it has been positive. maria: skra elon musk is everything into the nelson peltz writes he should definitely be on the board musk said would buy shares if nelson were elected o to the border track record excellent. >> it is when you get an activist investor in the company generally speaking not justice they want to make money they have ideas they think will make company money as shareholder you want to see. >> you are watchingmi with maria" liveti business. stay with us. . . ng a business is never easy, but starting it 8 months pregnant... that's a different story. i couldn't slow down. we were starting a business from the ground up. people were showing up left and right. and so did our business needs. the chase ink card made it easy. when you go for something big like this, you

lauren: bob iger.ournal" is reporting more than half the votes have been castedded and activist, nelson peltz, if may not get the two the board seats that they're looking for. the annual shareholder meeting is tomorrow, so, look, this could all change because with you can change your vote day of, and it's entirely possible that we don't have an answer a tomorrow and and it's like a hanging chad moment and they have to recount the votes. but "the wall street journal" is reporting so far iger has been able to stave off melson pelts' proxy fight. he's got institutional support, blackrock, what is that,s second biggest shareholder? also 26789 roe price. stuart: if bob iger wins and peltz loses, does walt disney's stock go up? >> no, absolutely not p. i've been watching nelson peltz since the '80s. don't bet against him. he may not win this vote tomorrow, but he's playing the long game. disney' stock has gotten crushed through a good market over the last two days. pellson pelts knows what he's doing -- nels

wrapped in a political story and they are able to charge forward. >> although we should mention bob igerill -- he can't stay on indefinitely. is gone and come back several times and eventually will leave the thinking about what happens. i want to move to commodities because called in particular and big coin and creek does have been done extremely well. is that because people are losing faith in the dollar? what is going on? >> what's going on with gold, five 100% since 1995, seems like a lot but compare 1500, it's not a real comparison compared to 1995 but with interest rates coming down, gold is seen as a good repository of value but we have to compare that to where inflation is going and what's happening in the long run so because it's a finite supply people say they have a great role dozen argument for bitcoin, gold is 30% inflation but bitcoin is up three 100% for the year. so an interesting comparison but this gold rally is interesting. >> somebody else is interesting, the election coming up, how do you think the election will affect markets one way or the other. >> i will stick wit

quite a fight, but bob iger prevailed.elson peltz, an activist investor who was pushed out of the company by bob iger. there was some real personal animus in all of this. the truth is nelson peltz, despite all of the handwringing and headlines, really never made a stand here in terms of how much the disney shareholders decided to back bob iger across the way. retail investors, the institutional investors and big folks involved in disney for so long, including people on the other side of bob iger, abigail disney ultimately came out in support of bob iger and george lucas and others. the big question is, even though activist investors have gone away, depending on where the stock is a year from now, if it doesn't move materially higher, he may be back all over again. >> great challenges for disney, great challenges for all the media companies right now. talk about this proxy fight and why iger won and what the future looks like. >> andrew and i have discussed the streaming wars ad nauseam on cnbc. it's great to be able to dis

who is going to replace bob iger in 2026? the company. let me just tell you about some of the measures they introduced in the wake of this battle. they've tried to please investors by investing in epic games. they've also announced cost cuts, a 50% increase in dividend and a $3 billion share buy back. let's see for how long disney will continue to please investors and whether perhaps it might need to go even further when it comes to some of these measures. >> all right, cnbc's silvia amaro live from london, thank you as always. >>> still ahead we'll turn back to politics with a look at how republican lawmakers are responding to donald trump's constant claims of presidential immunity. >>> and we'll get an update on the fight over funding for ukraine ahead of congress return to capitol hill next week. that's all straight ahead. don't go anywhere. t ahead. don't go anywhere. - so this is pickleball? - pickle! ah, these guys are intense. with e*trade from morgan stanley, we're ready for whatever gets served up. dude, you gotta wo

bob iger said this yesterday when he said that he wanted disney to be number two.ing that netflix is number one, mike. so has netflix -- is it just netflix's world at this point? >> it would seem to be, right? i think there was concerns number one that we had a lot of this sort of over the top competition in the streaming world. they were suddenly going to be fighting against all of these other market participants. and they just -- they aren't losing basically their subscriber base. maybe other people are picking up disney+, using other services here and there. netflix is maintaining they raised prices. you know, this new price target is what? 30 times, i think, full-year '26 estimates of over 25 bucks a share and the question that people long had about it was, you know, with the cost of content, was this company ever going to generate free cash flow. as tim pointed out, it finally did. now it's really starting to print it, you know, probably will have ten billion in free cash flow 2026. i have think the multiple is rich for me given we are looking at probably teen

david faber interviewed bob iger after his win in the roxy fight with nelson peltz. midway through the interview bob talked about his predecessor, no need to name him since nobody at disney seems to -- okay, i'll do it p bob chapek. the stock took it on the chin of course and didn't really recover until the last few months. i think we misjudged how much disney was really hurt first by covid and then management's response to covid. frantic attempts to meet their streaming goals not backed up by what had been the company's regular cash flow. now there's no excuse which is a big reason why nelson peltz thought it was worth going after some board seats but things got better as pelths agitated while the pandemic faded and the travel tail winds reemerged. i don't think pelts saw the turnaround in the stock coming even as he arguably caused a lot of it which ironically then hurt his chances of joining the board. the cruise line stocks have been among the best performers for the last 18 months, especially royal caribbean. seems quizzical but wait a second this move's almost e

and what happens at disney now that bob iger won the big proxy battle against nelson peltz? i'm melissa lee, coming to you live from studio b at the nasdaq. on the desk tonight -- tim seymour, karen finerman, dan nathan, and guy adami. >>> we start off with the fed chair powell's balancing act. the central bank chief towing the line between spurring economic growth by cutting rates and tamping down on persistently high inflation. earlier today, powell suggested he is not yet ready to say that battle's been won. >> on inflation, it is too soon to say whether the recent readings represent more than just a bump. we do not expect that it will be appropriate to lower our policy rate until we have greater confidence that inflation is moving sustainably down toward 2%. >> the fed's key inflation gauge has now been above its target 2% rate for three straight years. it's not exactly as transitory as powell originally said it would be, and that sparks our question tonight, will the fed be as wrong on inflation on the way down as it was on the way up? some other, you know, interesting

. >>> bob iger said disney+ will begin cracking down on password sharing in june.e expanding to all subscribers in september. >>> and the rock band kiss just sold its music catalog, brand name and intellectual property to pop house entertainment group for $300 million. gene simmons says it's a collaboration that will feature digital avatars. >>> krispy kreme is creating its own eclipse. can you get a doughnut with an oreo in the middle. in the midd. . then i switch back to my regular shampoo. you should use it every wash, otherwise the flakes will come back. tiny troy: he's right, you know. is that tiny troy? the ingredients in head and shoulders keep the microbes that cause flakes at bay. microbes, really? they're always on your scalp... little rascals... but good news, there's no itchiness, dryness or flakes down here! i love tiny troy. and his tiny gorgeous hair. he's the best. - make every wash count! - little help please. ahh. it's a good day to cough. oh no. bye, bye cough. later chest congestion. hello 12 hours of relief. 12 hours!! not coughing at the movie

"wall street journal" reports blackrock also siding with bob iger and his board of directors as well.ld on mark parker. i thought that was interesting. i've been saying this for weeks, a lot of confidence in the disney camp. that continues. it still may be close. don't forget, shareholders can withdraw and resubmit until the deadline. that happens occasionally. so there is still lobbying to be done here. we still have yet to hear from state street, vanguard, the huge index and/or passive funds that have such an impact on votes like this one. retail also important. disney confident on the retail vote, some 40% or so of the shares outstanding considered retail investors. inside disney, they believe they can get as many as 75% of those. jim, you have to say right now iger is going to win this one, but we don't know yet. it's still too early. these reports about 50% in, again, you can pull and resubmit until the deadline. >> what are you hearing about the cost of this to disney shareholders? >> the costs are running high. >> the highest ever. >> on both sides. >> the tryian side, if we se

tops are whip around the leads current disney ceo bob iger, emerge the winner of a dramatic board fight hafner aggressive challenge to his leadership from a billionaire investor. today's shareholder vote was an attempt to take the country in a different, supposedly less woke direction, but it was widely rejected by disney shareholders, bob iger received around 94% of the vote voters in oklahoma ousted that city councilman over his past ties to white nationalism. we brought you the story, but the controversy behind this one yesterday on the lead, judd blevins participated in the 2017 unite, the right rally in charlottesville. and last night, the citizens of enid, oklahoma voted to remove blevins from his job and replace him with a different conservative, cheryl patterson the us food and drug administration has cleared the first digital treatment for depression. it's called rejoyn, and it's a smartphone app intended to be used alongside antidepressant medications. the app is good geared for folks 22 years old and older who have been diagnosed with major depressive disorder, rejoyn does no

bob iger has kept the keys to the castle, hasn't he? nelson wanted to be a board member. and that was rebuffed. the board seats remain pretty much the same as they were. a lot of stories though, and a lot still to be done then for disney. >> a busy report. thanks, arabile. >>> apple services are back up and running after a brief but noticeable outage on wednesday. the app store with apple tv, podcast and more went down for about an hour. while apple has not confirmed why this happened, we know meta services, including instagram and whatsapp also dealt with outages a few hours before that. so far, none of these companies has released a statement. >>> get ready for some moon buggies. nasa has announced the three companies picked to come up with designs for lunar terrain vehicles or ltvs, the idea is that one day those ltvs will take astronauts to the moon's south pole, then become self-driving once the astronauts come back to earth. nasa work with each of the companies for about a year. then they choose one design to build. >>> still to come, two late-night icons are making

bob iger has a big pressure point called "bob iger."y back to its rightful spot, top of the pyramid. that's where they're headed. bob will keep pressure as will the rest of his talented organization doing just that. so i don't think nelson comes back for one simple reason -- i believe strongly the company will continue to perform. >> i would say iger and company had all of these plans in place. moving and doing all the things nelson was, nelson peltz was complaining about already in action. a few things happened in the last week or so. one thing reaching out making amends in the florida state governor there. that was something that i felt like it was kind of tied to this. trying to wrap up the loose ends before this vote. >> i can comfortably tell you, becky, it wasn't. that's a discussion that had been ongoing, and obviously shareholders did speak about issues that mattered. dtc in particular. succession in particular, and the company has a robust succession committee planning process. heard from mike, james gorman, through his own suc

i tend to look at it as two things, a question about succession, he will replace bob iger.s replaced it didn't go well and they had to bring him back. since his return there have not been enough steps taken return there have not been enough steps ta ken to return there have not been enough steps taken to address that. the other thing is streaming, one of the complaints made by nelson peltz. it is a difficult challenge any difficult time for disney, and clearly enough people are unhappy that high—profile backers are supporting nelson peltz, whether it is elon musk or the californian pension fund.— is elon musk or the californian pension fund. how is it likely to end? at the _ pension fund. how is it likely to end? at the moment _ pension fund. how is it likely to end? at the moment it - pension fund. how is it likely to end? at the moment it looks i pension fund. how is it likely to | end? at the moment it looks as pension fund. how is it likely to i end? at the moment it looks as if disney has _ end? at the moment it looks as if disney has prevailed, _ end? at the moment it

details site the coup as a victory for bob iger who stopped the attempt to get two border seats on disneyes of disney in the free market down 3. 4%. there is new concerns about a deadly bacteria that is spreading quickly, the cdc issuing an alert to watch for serious bacterial meningococcal infections with unusual symptoms, refers to any sickness that can lead to sepsis. when one in 6 people with bacteria have died so far this year and striking middle-aged adults, usually these forms of meningitis -- cases right now, 80% higher versus where they were this time a year ago. to women's march madness. i westar player caitlin clark leading her team to victory over lsu. the hawkeyes sealed it. >> the ball is up another deep one. he scored. the hawkeyes are headed back to the final four. maria: taking iowa to next week's title 4. lsu head coach tim wilkie having to expend what her team was absent for the national anthem. watch. >> i don't even know when the anthem was played. we kind of have a routine, they come off at the 12 minute mark. we just, i don't know come in and do our pregame stuff. i

bob iger a big vote of confidence, denouncing nelson peltz's bid for the board.tz won just 31% of votes cast. the stock fell the most in six months following the vote. still up 32% so far this year. amazon is cutting hundreds of jobs in its cloud commuting sector. it will affect employees and technology for brick and mortar stores. a spokesperson says amazon will try and find new roles for those affected. a year after a.w.s. held it largest round of job eliminations. shery red stone is said to be in agreement to accept the estate to i.m.f. and tv giant sky daniels. they've been weighing the sell of the holding company national amusements to him for months. sources say spot if i plans to raise the price of its ooh service -- audio service in it service for the second time in three years. markets including u.k., australia and pakistan. spotify plans to raise prices in the u.s. later on this year and the hikes will help cover the cost of audio books. haidi: china is on a golden week, if you will. a lot of the concerns have been around -- even as we see a pickup in t

a look who is behind bob iger and company. >>> shares of donald trump's social media falling yesterday. the staggering stat on how much of value the former president lost in the wipeout. >>> our look at the best ideas for q2 and beyond. the magnificent seven member our next guest says will keep delivering returns to shareholders. it's tuesday, april 2nd, 2024. you're watching "worldwide exchange" right here on cnbc. ♪ >>> good morning and welcome to "worldwide exchange." thank you for being with us. let's get you ready for the trading day ahead. we kickoff the hour of the check of the stock futures after the mixed start to the trading week. the dow and s&p posting the neg negative. the dow would open up 170 points lower. we will watch that throughout the morning. and the bond market with the yields popping on the back of the pce report and hfmanufacturg data. this is more than ten basis points higher than yesterday from the pre-market. another thing we are watching and talking about during the market discussions and we are checking oil. we talked about oil yesterday with helima croft.

it is a major boost for bob iger looking to stave off trian.committing to spending and job protection as a meaningless piece of paper. the japanese company was trying to bolster support for a planned takeover of u.s. steel. president biden said the company should stay american-owned. more to come on daybreak australia. this is bloomberg. ♪ not all caitlin clarks are the same. caitlin clark. city planner. just like not all internet providers are the same. don't settle. you want fast. get fast. you want reliable. get reliable. you want powerful. get powerful. get real deal speed, reliability and power with xfinity. she shoots from here? that's kinda my thing. >> the teams have been working a lot since november on fentanyl precursors, on climate change, uneconomic practices. on artificial intelligence. there's been a lot of staff level work and both presidents thought that a few months later, this was a good time to check in and see how that's going, discuss the future. >> that's national secured a council spokesman john kirby speaking about the p

blackrock support would come as welcome news as the ceo bob iger with trian gunning to take two seatse tries to turn disney's fortunes around. there is no guarantee that disney would win the vote since investors have until tomorrow's shareholder meeting to make the decision. this as people familiar with the process tell cnbc that iger is considering tapping dana walden the successor. that would be the first female ceo in the existence of the company. you can find more on the story with the twists and turns all on the cnbc web site for you to read. >>> coming up on the show, we will take a look back at the big first quarter for markets. big is an understatement. the s&p is posting the best first quarter in five years. hi. i'm wolfgang puck when i started my online store wolfgang puck home i knew there would be a lot of orders to fill and i wanted them to ship out fast that's why i chose shipstation shipstation helps manage orders reduce shipping costs and print out shipping labels it's my secret ingredient shipstation the number 1 choice of online sellers and wolfgang puck go to shipst