does peltz know everything that iger is planning? is he forecasting what iger might do?ith a b on the same page if they just had a conversation? chris: in a way, they had been. but since peltz became involved, iger has taken a number of steps, things that peltz has been calling for. for example, cost-efficient sees , seven point $5 million in costs, restoring the dividend. they are definitely talking more openly about the succession process and what they are doing, which is another thing, special committees and outside executive or's, things that peltz said they should be doing. they are addressing that and you are seeing the results in the disney performance in their streaming business. huge losses -- one billion to 200 million. disney pounding the table saying that this year it would be profitable. bob iger has all of that coming into the annual meeting. vonnie: we are only two weeks away, at this point. what should shareholders keep in mind? chris: i think we will continue to see more endorsements. for example, michael eisner, coming out to support iger and the board

magic for disney, the shares of the entertainment company about to lock in, with iger in a nasty battle for board seat. next, a boeing bounce, shares of the aerospace giant rising 4% after announcing that dave calhoun will leave the company by the end of the year will new leadership get the company back on track? massive move for micron as it blocks the seventh day of gains and bitcoin breaks higher and takes the rest of the crypto space with it and reddit, we'll dive into the pits i'm melissa lee coming to you from the nasdaq. on the desk, tim seymour, dan nathan and guy adami we start with disney's proxy battle royale. just a week away, nelson peltz trying to find management to secure seats on disney's board just today it said it was withholding its vote from bob iger, a move that contrasts the recommendations and peltz's public statement and since he reignited his proxy battle for the kingdom in october, shares soared nearly 44%. barclays raising the price target to $135 that's on shares is up 3% to the highest close since august 2022. it is now nearly a dollar above the average anal

-- bob iger effect. ben & jerry's and unilever versus getting involved with companies like disney and hollywood which are really hard to understand how to make money and hollywood. very few people ever have and bob iger is one of them. he's a great person, a great leader and george lucas as well one of the great creators of our time. basically everybody supports iger except him. caroline: and is former ceo. ross: i'm ok with replacing one of the board members. especially someone like murray barrow who has no reason to be on the board. i don't think it's a horrible thing to have one board member switched for one of their picks. but in general disney is doing well right now and they're doing everything they need to do. ed: i think you said tesla but did you mean disney? ross: yes, i'm sorry braden ed: let's not go there. let's stick with disney. we are speaking so much about a proxy fight and an activist investor battle. i don't think we've got any real good sense on how things are going to disney because

iger, for example.ious reporting and just talking to any number of people as i try to do on occasion, disney has come up, and in fact, i can share the following from one jamie dimon. our viewers may know who that is, of course, the ceo and chairman of jpmorgan. he's decided to weigh in here with his own comments in terms of where he sees things going and what he wants, and gave me the following statement. "bob is a first class executive, an outstanding leader who i've known for decades. he knows the media and entertainment business cold and has the successful track record to prove it. it has a complicated industry filled with creative talent, requiring the unique expertise and engagement skills that bob possesses. putting people on a board unnecessarily can harm a company. i don't know why shareholders would take that risk, especially given the significant progress the company has made since bob came back." that, again, a comment that i was given from jamie dimon. i c i should make the point that jpmorg

. >>> and bob iger is preparing for the proxy fight to come to a head why iger is under pressured ins thursday, march 28th, 2024 you are watching "worldwide exchange" here on cnbc >>> welcome back to "worldwide exchange." i'm frank holland. we pick up the half hour check with the stock futures take a look at the dow which is off the highs of earlier today it looks to open up close to flat the s&p is lower and nasdaq is deep in the red. we'll talk more about that later in the show. >>> stocks are looking to wrap up the week and month and quarter today. the dow up 5.5%. the nasdaq is up more than 9%. s&p is up over 10% its best start the year since 2019 we are looking at top gainers for the index. super micro up 250%. this is not a typo we have talked a lot about the chipmaker. followed by old dominion and nvidia on the board as well. >>> a different story with the magnificent seven and tesla. the biggest laggard on the s&p this year. down 27% dan ives is the latest to cut the price target on tesla. he joins the chorus of bearish calls from citi and mizuho key to the falling sentiment

this is a pretty big heavyweight coming out in support of bob iger? >> sure.e disney board's favor with peltz and other activist, and the fundamental performance has been improving, and the stock has been recovering nicely. now kind of the cherry on top is a prominent hollywood figure and somebody core to what disney is now supporting iger in the current director slate. at this point i would be very, very surprised if peltz was successful in the proxy battle. >> is this something that changes, or did you think that this really -- does this swing the needle that much or did you think that was the case before? >> i think the most important thing is the business trajectory has been approved and the stock price is reflecting that. if somebody like lucas has come out against iger, that would be a difficult situation. but that's not where we are, so i think that things are for now looking better for disney and iger and the board. the question i would have is longer term. i know that, you know, they are mainly a think park business and they have a lot of exposure to

iger but on how shareholders can ensure good governance and oversight from the board. it goes on to say yp morgan appears to be prioritizing its commercial relationship with disney's management over its responsibilities to disney and its shareholders including jpmorgan's own asset management clients. this has already gotten p personal, as you know, in the days leading up to today, maybe taking a harder turn with mr. dimon coming out in support of mr. iger. now you have trian responding. trian wants two board seats at disney including one for mr. peltz and all of this coming to a head on april 3rd at the shareholder meeting. you guys don't own the stock, but this is going to remain interesting right up until the 3rd to see if trian can actually win this vote and get two seats, one for mr. peltz himself. >> this is, by far, the most compelling and interesting business story we have in front of us. i read through the restoring the magic. it's 100-plus pages. what nelson peltz says makes sense. disney already has a partner with a&e. why not a partner for its other televisi

iger's, you know, teaching them the ropes.iew. saw one except one at oscars. so they are making moves like that. i think that bloomberg story that dropped will help on that front, because that has been a big problem with iger, and peltz has poungspounced on that sayin guy doesn't want to leave. no succession plan and now at least are making noises about it. see how serious they are but they are making noises about it. >> matt good to see you. take care. >> thanks. >>> a quick check on the pre-market futures before we head to a quick break or c or cg in on the 8:00 hour. and down, s&p down. we had been higher across the board. not huge reversals, but different than before. green coming up. congressman raja krishnamoorthi weighs in on the president's budget, china and much more, and then assistant attorney general jonathan kanter will be our special guest. we're going to ask him about the government's antitrust case 'ragnsape. wee coming right back. go deeper with thinkorswim: our award-wining trading platforms. unlock support f

i want to help him, saying the election contest is about board oversight, not about bob iger.up on april 3rd. >> so, the company didn't want him to not vote for iger >> so, they wanted bob iger to be elected but they wanted pelz and jay to be on the board as well >> i see and that's why he withheld >> just to make a point. >> nice to have you here we'll have you here all week thank you, everybody, for watching "power lunch. we appreciate you being with us. "closing bell" starts right now. >>> all right. welcome to "closing bell." i'm scott wapner this make or breakout begins with the resilient markets, which are about to notch their fifth consecutive winning month. are investors ignoring mounting risks or is there good reason to remain bullish on stocks your scorecard with 60 minutes to go in regulation looks like this no big bets to start this holiday shortened week, one that sees the all important pce report drop on friday morning. and that's even with the markets closed we're pretty much mixed today, no

iger and his team faithful to the company's magic. >> a strong show of support.ertha, thank you. >>> turning attention now to d.c. and capitol hill. we have a developing story. congress approving a temporary spending bill to hold off a partial shutdown. we have brie jackson with more. >> reporter: good morning, frank. congress averted a partial government shutdown for a week. the senate and house passed a one-week short-term funding bill thursday giving them wiggle room to come up with a plan to fund agencies through next september. president biden is expected to sign the continuing resolution although he calls it a short-term fix and not a long-term solution. without the cr, one-third of the government should have or could have run out of money at midnight tonight, including veterans affairs and transportation and the justice department. for now, they remain funded through march 8th and the rest of the federal government funding will be extended to march 22nd. the cr passed the house and some conservatives say they he are not happy without enough spending cuts.

. >> not iger.l. >> i would say on the trian slate of people who have come come out and endorsed peltz on the other side, it's a lot of the ceos who have worked with nelson peltz. i wept through a list this morning, mondelez, david taylor who led p&g and janis henderson -- >> have they endorsed him in this battle? >> on the site trian takes you to in terms of their fight they are quoted on there saying they have had very pleasant experiences and nelson knows his stuff and has worked very well with them to enhance slair value on the board. it's a lot of that and a lot of friendly comments. schumacher, the ceo of unilever on there. companies that have worked with nelson. all the big ones you can think of, wendy's on there too. so that -- i would just say for an investor, for more institutional investor, i wonder if those comments resonate? because part of the fight that disney is putting up here is that nelson doesn't have any ideas and not going to work well. >> i can hear nelson with george lucas wo

bob iger. campaign got a lift from eagan jones.ee quote, very little downside and a lot of upsides to putting him on the board. let's dive into all things disney jim, let's start things off with you since you wrote the book on disney. disney wars. you know so well how this company works. what do you predict will happen on wednesday? when we get the results of this vote and how do you think this whole proxy battle will shape how disney changes in the coming years? >> those are great questions. and of course i don't have a crystal ball. i don't know how it's going to turn out. there's tremendous amount of suspense about this. i will say i would have said a few weeks ago that i thought there was little doubt that disney would win. it's tough to win a proxy contest. the big, you know, companies like vanguard and fidelity. they're reluctant to embrace shareholder challenges to existing management. but peltz has picked up a lot of support from some of the advisory services and there is this looming issue of succession hanging over the co

after less than two years, and bob iger had to return.e are seeing a lot of activity away from disney is in india's media landscape. we had news that paramount was sending its india's tv stake. chris: what you are seeing in india is probably what we will see in the u.s. there were too many streaming competitors create airplane a lot of money for sports rights, and so we are seeing a rationalization of disney and elias agreed to merge tv businesses, and paramount had a smaller stake in the enterprise and it will get smaller with the merger. they have been looking to reduce their debt, so this $500 million sales will still be able to sell the programming through nickelodeon, mtv to the indian market, but will not have a direct share. haidi: that was our senior editor for media and entertainment, chris palmeri. let's get how markets are faring. we are getting into the trading session. you are seeing some slight weakness, but broadly, this has been some do training. u.s. stocks are a little lower and the prize session. big tech did feel the b

jamie dimon has publicly backed bob iger in the proxy battle. 13 let's talk about this. it is not very often that you see a company that takes the same tactics that the activists tend to use. and fights back. a lot of times companies like to pretend they're above the fray. >> the companies -- they ever their advisers too and activist defense advisers and when it gets to this point, yeah, they take some other tactics. >> i will say, look, usually what it is is whispering to journaliststrying to get them to carry your water and do the dirty work for you. when they came out with this campaign style ad, it sounds like it is voiced over with the same voice-overs you would see in a donald trump or joe biden ad, that, to me, was a different level, really raising the stakes. >> yeah, bob iger is obviously pulling all the stops to win the proxy fight. he's getting jamie dimon to come on the record. i've never seen this before, ever, as a ceo of that magnitude coming on the side of another ceo. not sure he probably spoke to nelson peltz first or thoroughl

him to not vote for iger >> so, they wanted bob iger to be elected but they wanted pelz and jay to be on the board as well >> i see and that's why he withheld >> just to make a point. >> nice to have you here we'll have you here all week thank you, everybody, for watching "power lunch. we appreciate you being with us. "closing bell" starts right now. >>> all right. welcome to "closing bell." i'm scott wapner this make or breakout begins with the resilient markets, which are about to notch their fifth consecutive winning month. are investors ignoring mounting risks or is there good reason to remain bullish on stocks your scorecard with 60 minutes to go in regulation looks like this no big bets to start this holiday shortened week, one that sees the all important pce report drop on friday morning. and that's even with the markets closed we're pretty much mixed today, not big wins or losses on either side energy is leading the way, much like it has this week. it's been a mixed day for big tech some other megacaps, digesting regulatory news in the u.s. and abroad boeing is one of the big

what's been sort of amazing is that when iger came back in to disney, he was pretty clear.ught. the linear tv business was under a lot more pressure. the company was struggling creatively are. there's no doubt that having activist pressure has been a boon to disney. i mean, you've seen shareholders flood into this stock excited about the fact that there's activism and that the company is cutting costs faster, pushing new initiatives like investing in epic. there's just been a flurry of activity that has been very helpful, and i think it's why the stock is at a 52-week high. sort of excitement about, you know, sort of stemming from the activist pressure. i think it'll be with interesting to see sort of after next week what happens, because the key problem, you know, the number one problem that we've been focused on for disney is creatively. the company's creative engines, movies and television, have just not been firing on all cylinders. you've seen them really struggling whether it's pixar or "star wars" or marvel. all of the main creative engines have been struggling. that

iger's tenure as well. >> were you surprised?hat board, katz, parker from nike, calvin mcdonald, and james gorman, total heavyweights, would they, together, do better with peltz? because the board is not done the shareholders a great service in terms of succession, one of the most important things they do. wouldn't they do better? i don't know. i feel like at this point, they've spent a lot of time and energy, they should just add him on, move on. this is so disruptive. >> it has been very disruptive. it is coming to an end, and to your point, you have that view. that view is not shared at all by the board, and top management at disney. >> great story. i mean, great business story, because these are some of the greatest business people in the world, and it's an iconic company, and bob iger did really well for a long time, and you would think, okay, listen, let's get all the great minds. i know peltz, but it's the opposite. it's like, hey, nelson, please, let it alone. >> listen, there's still great confidence in the disney camp t

there is no love lost that i could detect between bob iger and nelson pels. really going to work in the boardroom? >> sure. a dissenting voice in a unitary group is probably a pretty good thing. if this group had done such a great job we wouldn't be having this discussion. obviously if there is dogma in this wardroom, ceo-led dogma, if you will, because ceo dominates this board, the majority is still the group that was there during the mass. and look, this disney board issue goes way back. this goes back to mike eisner's days. michael eisner's days with the same sort of thing. shareholder revolt as to what was going on. i think bringing a different voice into the boardroom would politely challenge what was going on i think would be great productive i think that is the story here. that is what we have to focus on. katie: just to meditate on that point a little bit longer, when it comes to the disney board, the sort of issues have been going on for quite a while right now. so is nelson peltz the solution to this corporate governance problem? >> i think he will

the dispute began in 2022 when disney boss bob iger critcicsed when disney boss bob iger criticised then on sexuality and gender issues. disney said the settlement "opens a new chapter of constructive engagement" with the local authorities. around the world and across the uk, this is bbc news. you are live with bbc news. the uk government says, it's fully committed to improving the nhs and bringing down waiting times after a survey found patient satisfaction was at an all time low. fewer than one in four — 24% — people were satisfied with the health service last year — down five percentage points on the previous year. satisfaction was at 70% as recently as 2010. the main reasons for dissatisfaction are waiting times for gp and hospital appointments followed by staff shortages and the government not spending enough money on the nhs. however, support for the founding principles of the nhs remains high, with 91% believing the nhs should be free of charge when people need to use it, 82% agreeing it should be primarily funded through taxes. i've been speaking to dr zoe norris, who is chief e

george lucas said he would support bob iger in his battle.nt shareholder when he sold his production company to disney. full faith and competence -- confidence, driving long-term value. the force is with bob iger. caroline: that does it for this edition of bloomberg technology. ed: thank you to everyone for listening people the podcast around the world. this is bloomberg. ♪ >> welcomes a bloomberg crypto. shaping the world of decentralized finance. >> bitcoin falling more than 12% in the last to be. the latest in venture capital. >> we will talk to delta blockchain funds. >> google talk about the millions being spent.

. >>> and now nelson peltz wants to restore the magic at disney that he believes is lost under bob iger. >>> it is super tuesday and while nikki haley's last hope in the 2024 election. it is anything but for investors looking to breakout the election stock playbook. it's tuesday, march 5th, 2024. you're watching "worldwide exchange" right here on cnbc. ♪ >>> good morning and welcome to "worldwide exchange." i'm frank holland. let's get you ready for the trading day ahead and kickoff with the check of the u.s. stock futures. the major averages all fell from the record all-time highs. you see in the red across the board. nasdaq down more than .50%. the dow would open 60 points lower. a big part of yesterday's pullback was linked to apple off the 2.5% decline linked to the $2 billion fine from the eu alleging anti-competitive behavior in the music streaming space. shares of apple here. fractional losses doing nothing to top gainers with more than one-fifth of the s&p trading at fresh 52-week highs. disney, amazon, jpmorgan chase and cat piapillar. we saw healthcare hitting fresh highs with

iger's contract runs through 2026. >>> regulators keeping the pressure on boeing. the national transportation safety board says they still don't know who worked on the panel that blew off a 737 max 9 during the alaska airlines flight because boeing has no records on the job. they asked for security footage, but was told the footage was overwritten months before the blowout. the investigation which the ntsb says makes this more difficult moving forward. frank. >>> thank you. a busy day shaping up for retail on top of what has been a market moving weekend. retail sales are expecting an .8% increase in february. retailers targeting the lower-end consumer are declining with dollar tree issues signaling a broader trend. let's bring in a bull-bear case on the consumer with stacey widlitz here for the bull case and oppenheimer's brian nagel with the bear argument. st stacey, you are a bull here. a rise expected in february. if the numbers come in line, is that a positive for the co consumer? >> good morning. we have been calling for a consumer recession for years. that ha

we'll see what finally happens with robert iger. i wouldn't know how to fix disney.ess. >>> coming up, the largest group of real estate agents is agreeing to lower commissions as part of a wave of class action lawsuits. this could lead to lower home prices. that's next. >>> futures right now solid on rn pnasdaq, the dow has now tuedositive. we'll be right back. >>> the national association of realtors agreed to pay $418 million to settle lawsuits over how the industry sets commissions. the agreement could lead to rule changes that could drive down the costs of home buying transactions. let's talk more about this settlement and what it means for the real estate industry with our senior real estate correspondent diana olick. and diana, i need your help this morning. the more i read about this over the weekend, the less i understood it. what really happened here? >> yeah, and it's wildly confusing. look, this was 108-page settlement, so it took a lot to read through, and trust me, i didn't read all 108 pages. the first thing to make clear is the nar didn't agree to lowe

obviously espn will be a part -- >> just a full circle with bob iger.ber, the board in this particular case is saying -- peltz is saying the board needs to be able to rein in costs. they're taking $7.5 billion in costs now. how did they have $7.5 billion in overhead? i thought that was empirical. >> you mentioned bezos or amazon at least. bezos has stolen the mantle of world's richest man elon musk as tesla has had a rough start to the year. goldman out today about ev demand, they say if you make changes or repeal parts of the ira -- part of that would rely on congress, could cut ev demand by up to 30%. >> there really is -- you can really wreck ev -- >> trump -- a new trump administration would get rid of all of it, wouldn't it? that would be one of the key goals. >> the only place that got confirmation, california still continuing to have very big ev sales. >> they still have a statewide mandate by 2030 i think -- >> by the way, we'll have some of the lowest numbers of cost of electricity soon. 25% of our electricity is going to be coming from solar w

he doesn't want nelson peltz on the board. >> iger?you believe how bitter -- it's even more bitter than norfolk southern by the way, it's a very, very bitter proxy fight this one's the most bitter of all. >> there's the thr piece from yesterday. bob iger basically argues that the board is going to take a firmer hand this time when it comes to things like this. >> the board is filled with heavyweights, but a lot of them are, as nelson peltz would tell you, really busy at their own companies. you know, when you have katz, she's crushing it at oracle, but you have mary barra crushing it at gm. i'm not calling for a full board of council of foreign relations and avon representative, which is what they have, who peltz wants, but i think these people are -- they need some people who basically -- like gorman, like rasulo, like peltz look, peltz concentrates his mind i went to the ceo of procter, and the chairman they thought he did a great job. >> do you want him anywhere near programming decisions at the studio >> i want him to help to get t

bob iger's contract runs through the end of 2026. no decision on his his cancer -- no decision on his successor is expected this year. ubs price target down. three reasons. revision driven by slower demand in western countries. intense competition in china. very limited units in 2025 pushing meaningful volume to start in 2026. that stock is down 1.5%. up next, biden backing u.s. steel. >> we know we have to reassure and we have to be self's of -- we know we have to reshore and we have to be self-sufficient. we need to be able to do things here first. jonathan: that conversation is up next. ♪ j.p. morgan wealth management knows it's easy to get lost in investment research. get help with j.p morgan personal advisors. hey, david! ready to get started? work with advisors who create a plan with you, and help you find the right investments. so great getting to know you, let's take a look at your new investment plan. ok, great! this should have you moving in the right direction. thanks jen. get ongoing advice; and manage your investments in

bob iger disagrees, star wars creator george lucas and jamie dimon of j.p.ltz gets a seat stock is up. nelson peltz says they're making too many movies with women of black actors, he said that. >> that was a quote. >> you don't hear that very often. >> he said that to the financial times. stuart: we are down 69 or 70-point you are at 39400. the dow winners on the board headed by walt disney, strong game, nike, boeing, merck, chevron s&p 500 who are the winners micron, decks, and disney is on the list. nasdaq where the winners who are they micron, tesla's and their, clear way energy, walgreen alliance, coming up. vice president kamala harris, clapping to a puerto rican protest song during her visit, she did not know that they were mocking her. roll tape. ♪ >> three haiti and she stopped when she realized what they were actually singing. interesting story there is chaos among house republicans, mike gallagher says he's leaving and can boxes dysfunction and the vote margin will be down to one how can republicans get anything done. florida congressman mike waltz

>> i think bob iger wins this one hands down.on over the years has proved to be a very savvy investor and a very helpful voice in some boardrooms and i don't think he would be help in this boardroom and this is a very specific industry and a lot of ind tre knowledge is requireded in a border setting like, and i also bob was thatting all of the steps, but in the morale of the company the greater entertainment universe. i think that bob and his great team there have done a remarkable job in repositioning the company for success and i don't think they need the disruption of a peltz or the other guys and i think he will win. >> it will be a fascinate battle to watch play out. gary, a question for you, back to this announcement today. your vee friends characters are based on nftsthat were connected to the nfts. we've seen the nft market really decline and what's your outlook for the ntf market and how important are nfts to building this franchise with moonbug and candle media? >> i was on this program two years ago at the height of nf

nine heirs lined up behind iger, one includes abigail disney. she put together a movie which put out pay practices there. abigail disney says i have my differences with bob iger, but i know the worst thing that can happen to the company is nelson peltz. peltz is campaigning for two seats on the disney board and urging the company to cut costs and revamp the streaming business and clean up the suck suggest succession planning. >> enemy of my enemy. this is back -- if bob iger is not woke enough for you, there's no -- and you bring nelson peltz in. at least she knows what a real problem looks like. >> the heirs called peltz and other activist investors circling disney wolves in sheep clothing. >> exactly. iger looks good. she's a piece of work. whoa. we had her on many times. when you are born on third base and you hit a triple. >>> coming up, the biggest movers this morning. later, don't miss our interview with richmond fed president tom barkin. that is coming up in the:00 8 hour. "squawk box" will be right back. >> announcer: this cnbc program i

just been miserable, of which some of that was iger.her hand, you got a stock that's been red-hot, and maybe that's peltz. maybe that's the competition. but if nelson is going to be defeated, he'll be defeated by the stock price being up so much, because people just say, hey, listen, it's fine. maybe they've gotten more focused. and i come back, david, and do say that the white paper that nelson peltz put out is really about how the board is dysfunctional, not how the company is dysfunctional. the board seems to have -- has so many powerful, fantastic people, it is a little surprising that they were really bad at secession. it is surprising that they were bad at guidance of the ceo, and i think there's a -- this misperception that if you're on the board, you're supposed to run the company. nelson doesn't run the company. he wants the board to be more focused on cost and on what they produce, but you know, david, you look at that board, it's like, how could they have so many great people and not be more thoughtful? >> well, there's argum

it did not take long for the board of directors to oust him and bring back his predecessor, bob iger.in his first few months in the job, the stock rebounded like crazy. that was a part because of -- from activists were accepted, the problems were too difficult to transcend overnight, here's the thing. i still believe disney has got a great set of franchises, the balance sheet is fixed because they generate a ton of cash, i still need bob iger to turn things around especially now that he's working with very smart activist investors to get costs under control, i can see him making even more progress with the balance sheet so the acquisition of hulu. he bought without reaching, that is a big reason why we bought more of this one for the travel trust. it was a mistake for me to believe in disney what it was trading in the 180s. it was a shame giving bob the benefit of the doubt when he did not earn it, great companies do not rest on their laurels, they cannot overcome the fickle nature of the consumer, the purchase of fox should have made me cut and run, broken balance sheet made it a bro

disney is stupid because i'm not trying to fire bob iger, i want to help him.y a supportive move of his leadership and does raise questions about how toxic of an environment the boardroom would be if peltz is elected to the disney board next month. trion is officially recommending shareholders vote for peltz and former disney cfo jay ra sue lieu and withhold their votes from maria elena and michael froman who are current board members. if there were the case you'd still get 12 whoever gets the highest votes, the 12 nominees who get the highest votes will be on the board. trion does own a relatively small position in disney it represents about 1.5% of the shares outstanding when you combine the ownership position of former marvel chairman ike pearl mutter we have reached out to trion this morning but have gotten no response as of yet that shareholder meeting is april 3rd and trion could change its vote between now and then: my first thing on hearing this was yeah, it's probably not surprising i don't think they like each other very much and i doubt bob iger is v

he says no one knows disney better than bob igerer. stuart: that's big support.? 37 million shares of disney. >>> check the big board, please. four minutes into the trading session. it's in the green, you're up 6 points right there. dow winners, show them to me, please. headed by 3m, boeing, home depot, mcdonald's, united health. s&p 500, where are winners and hour they? etsy, international paper, ebay, 3m, cooper companies. the nasdaq composite, the winners there, please? we have cadence designs, tradedesk, o'reilly automotive, ill human ma and moog. i need to know the 10-year treasury yield. slightly higher today, 4.31. gold, nowhere -- not quite, not even close are, $2,200 this morning. no, it's $2,179. down a fraction. bitcoin, good story here. was $73,000 last week, $63,000 now. down 10 grand in a week. the price of oil moving up a bit more, $83 per barrel. nat gas, i believe it's still below $2. yeah, $1.755. average price of gasoline creeping up again. $3.48. up 2 cents overnight. diesel at a $4.04 for diesel this morning. >>> coming up, trump heavily crit

lucas says he has, quote, full faith and confidence in iger's track record of driving long-term valueed all of his shares for disney 's 12 directors. disney up just is under 1%. and, by the way, we've got some breaking news right now, the college football playoff is extending its exclusive media rights agreement with disney and espn if through the 2031-2032 season -- who even knows what's happening in 2023. [laughter] they do. if -- 2032. there is a new 6-year expense tension on their previous agreement with disney allowing the company the right to sublicense a select number of games. i hope that includes cal bears. oh, i know, they're not so great right now. but -- all right. as disney tries to get the mouse house in order, construction of new homes made hair biggest gains in -- their biggest gains in nine months. it's a touchdown for the housing market coming at the same time netflix is launching its latest nfl docuseries called receiver. it stars minnesota vikings' wide receiver justin jefferson among other top stars. so what do the two have to do with each other? well, or listen t

it's actually grown its subscribers more than expected disney ceo bob iger in recent months said thee will drive monetization the ceo of max has declined to comment on how much extra revenue the crackdown will have for the business >> okay, karen, thank you. >>> still to come. two stars of the screen team up for shakespeare on stage >>> and his hook shot is inevitable josh brolin gears up for snl with a friendly pickup game coming up. a friendly pickup ga coming up. looking for a bladder leak pad that keeps you dry? all of the things that you're looking for in a pad, that is always discreet. look at how it absorbs all of the liquid. and locking it right on in! you feel no wetness. - oh my gosh! - totally absorbed! i got to get some always discreet! when i have pain from arthritis i grab biofreeze. unlike voltaren, biofreeze provides fast-acting relief i can apply it to more areas of my body. and it's nsaid-free. cool the pain so i can get back on the court. want the power of 5 serum benefits in 1? olay super serum activates on skin to hydrate, smooth, visibly firm, brighten, and impr

development of agriculture, especially in our own region, the need for education to build scaffolds for the iger drop, to create travel, because one of the basic problems of the taksestan region is the lack of water, which unfortunately we are dealing with. we are faced with the need to look at this issue at the national level. there is something special. one of the points you made in answering the questions in the field of new technologies, you mentioned artificial intelligence, that artificial intelligence should be more practical in what plan do you have for this in life and in governance? after all, one of the issues that exist for the development of this technology is to create a platform and infrastructure that can finally be at the level. with the laws that may be established by the islamic parliament, this principle of transparency should be applied in all issues, not only in the issue of transparency of votes and property or spending and recommendation letters . national instead of cars and fuel cards that belong to a car, you can express your opinion. you agree to be assigned to the na

he will talk about the proxy battle and the successful successor for bob iger "squawk box" will be right back. >> announcer: this cnbc program is sponsored by baird. visit bairddifference.com. you know doug, ever since switching to workday you've been a real rock star. rock star? what do you know about rock stars? billy idol? i mean where's the skin-tight leather? my shoes are leather. where's the unnecessary zippers? that thing! billy, rock star is just how doug feels when he uses workday. thanks, rory. i'll show you rock star! be a finance and hr rock star. workday. for a changing world. billy idol just stole your golf cart! her uncle's unhappy. i'm sensing an founderlying issue.d. it's t-mobile. it started when we tried to get him under a new plan. but they they unexpectedly unraveled their “price lock” guarantee. which has made him, a bit... unruly. you called yourself the “un-carrier”. you sing about “price lock” on those commercials. “the price lock, the price lock...” so, if you could change the price, change the name! it's not a lock, i know a lock. so how can we undo the damage?

, you know, bob iger has to go down as one of the greatest media executives in history.done, and look at what he's done in the last year since he's really got in a stride here turning this thing around no, it's an honor and a privilege. i didn't expect it i was on a day call and i'll do my best to contribute. >> you're definitely not going to get me saying a bad work about jeremy derrick about this. i'm interested -- i went back and watched the interview to leslie picker the day you were going to be transitioning yourself, and on succession planning, you said, i'm really into having plans, being intentional about this sufficient you went on to say that you wanted to do it and execute it in an elegant way, and i think everyone who knows the banking industry thinks you did execute that pretty successfully when you said that to leslie, you said it with a wry and quite big smile on your face, and i just wonder whether you were having a little bit of a swipe at some of your banking rivals do you think that jamie dimon and brian moynihan are holding onto power a little too lon

and resorts across the world, and now we also know that that walt, the walt disney company and bob iger has said that avatar and a pandora experience or pandora land, as he said recently, will be coming to the disneyland resort. >> so, oh my gosh, that's so exciting because i went to the one at animal kingdom and that is so good. and i want that here because, you know, i love the california parks better, but i want that. >> it's amazing. so the flight of passage attraction is beautiful. and at night the bioluminescence of that land is just incredible. so that could be one thing destined here, and then internationally, we just saw in hong kong or frozen land to open zootopia in shanghai. both those things, again are just concepts, teases of the scale that potentially could come. but we're not necessarily we again, don't know specifically what could be built. >> look, can i just ask you, if you think adding attractions is a good idea in terms of kind of matching the growth in capacity and visitors because you in the past few years, we have heard people say, oh gosh, the lines are getting

if bob iger is not woke enough for abigail -- maybe she's finally on the right side for him.week or so hasn't shown -- i think the same resilience we've seen since the beginning of the year. we'll see if anything is up here we had a great 2023. are rate cuts coming? that might be off the table at least for now. we've seen bitcoin and gold go almost hyperbolic, although with gold, not quite the same thing. but it is a couple hundred dollars up to 2,136. >> highest level ever. >> highest level ever -- make sure you join us tomorrow. "squawk on the street" right now. ♪ >>> good tuesday morning welcome to "squawk on the street." i'm carl quintanilla with jim cramer and david faber. some worries in mega cap tech, whether that's amd, apple or tesla, we'll get to all of it. roadmap begins with apple shares down again this time with report of an iphone sales slump in ch china. >>> a different story for target. that stock is up sharply despi

they say disney has lost $134 billion in market value in the past three years and are asking ceo bob igerocietal norms. they gave a lot of examples and 50 pages was one was a kids show and that kids show is teaching children you are the color of your skin, that's how you identify. this group is not alone. the activist nelson peltz is taking a similar woke argument to the disney board room, he wants to win two seats on the board and shareholders will vote on that next week, april 3rd. ashley: all right. interesting stuff. thank you very much. still had on this show we told you how women were being randomly punched in the face by strangers just walking in new york city. now police have made an arrest. we have a follow-up. president biden is turning to his democrat predecessors to fill his campaign war chest in a fundraiser today. a number of hollywood stars will be there. peter doocy has the details next. ♪ ♪ meet ron. ron eats, sleeps and breathes hoops, but oh how he can nail a software solution. you need ron. ron needs a retirement plan. work with principal so we can help you with a plan

unlikely cast of disney characters coming out of the wood work to support bob iger and slam nelson peltz>>> and congress

jamie dimon is backing bob iger in a proxy battle.us far we will keep an eye with what's happening with disney with what has been a very active investor. up 6/10 of 1% this is bloomberg technology. ♪ the future is not just going to happen. you have to make it. and if you want a successful business, all it takes is an idea, and now becomes the future. a future where you grew a dream into a reality. it's waiting for you. mere minutes away. the future is nothing but power and it's all yours. the all new godaddy airo. get your business online in minutes with the power of ai. ed: welcome back to bloomberg technology. caroline: let's get you a quick check on these markets. may be a little bit of a test off by 8/10 of percent. draw down in particular when it comes to some of the key chip names. nvidia under pressure. looking at the u.s. also perhaps dictating the path of trade for equities, when you see yields pushing up a little bit on the end of the curve in particular on a 30 year auction, a bit of lackluster demand yesterday. bond yields

and i did not feel that peltz has nothing to do with it. >> good piece in thr today as well about iger's invincibility era being over we'll get more on disney in a minute >>> opening bell in less than five minutes, and you can catch us any time, anywhere, just listen to and follow the "squawk on the street: opening bell" poas dct. meet ron. ron eats, sleeps and breathes hoops. and there's not a no look pass, double double, or buzzer beater he won't wax poetic on. ad nauseam. but oh how he can nail a software solution like the best high screen pick and roll you've ever seen. you need ron. ron needs a retirement plan. work with principal so we can help you help ron with a retirement and benefits plan that's right for him. let our expertise round out yours. >> announcer: the opening bell is brought to you by nuveen, a leader in income, alternatives, and responsible investing. >>> truth social parent trump media extending its gains from yesterday's public debut following the company's spac merger in a volatile session, the stock jumped by as much as 59% before closing up 16%. i think it was

. >> as george lucas comes out with support of bob iger. that does it for "the halftime report." "the exchange" starts right now. ♪ ♪ >> thanks, courtney. welcome to "the exchange." i'm john fortman. with green on the green, abandon tech at your own peril says our own market guest. he joins with two tickers to consider from here. and speaking of tech, nvidia announcing extended partnership with data breaks. the ceo will join us for an interview ahead. we'll ask him about that and a possible ipo in the works. >>> and more clues on housing. the latest data and talk to someone who has a front row seat to buying and selling friends across the country. >>> we begin with dom chu with the latest numbers. >> it's green across the screen, but the tech trade, which has been the leader for the last several days, and even months and quarters and years at this point, is the underperformer in todd's trade. we'll go through that in a moment. it's the dow up nearly 300 points, three quarters of a 1% gain there. so a laggard is the leader in today's trade. the s&p 500, the broader measure, 5170 t

. >> very competitive landscape, bob iger's return to disney brought investor incitement, you cannotrmour, he was returning to the ceo role, it's always got to be disconcerting internally if you see the announcement and this is the investor reaction. >> that is a low-price stock, i would like to look at a 10 year on that stock, do we have that? i would love to take a look at that, i wonder if that company is one that will be out there all will merge with someone. there you go, let's look at 10 years, that's what it's at year- to-date down 70% anyhow, there you go. we have a few seconds left, the market, we have a refund fraud. fraud groups organized like businesses are exploiting lenient refund policies and robbing retailers of billions of dollars a year, in a suit brought in late 2023 against dozens of alleged fraudsters, consumers have to bear the brunt of increased cost and decreased inventory and service, destruction that impacts january customers. >> they are making a lot of money off of ripping off amazon and others finally, former cnn host don lemon alleging elon musk to cance

sentiment -- believers have come out in bob iger and his ability to monetize espn and the staunch decliner declines of subscribers there. the sentiment turned and here we go. >> rollins, it stays at 51. this stock is the bees knees and is it still a buy? >> the stock has done remarkably well over the last 15 years. they are orkin brand. this is a company that in the industrial sector is a must own. >> a quick break, and then mike santoli with his midday word is on the other side. see that? that's like the gap in my health insurance. gap in your health insurance? yeah, it didn't cover everything when i got hurt. good thing i had aflac. hmmm the cash i got from aflac helped pay for medical expenses, groceries, rent. it really helped close that gap. go, go, go! yay! go aflac! go duck! get help with expenses health insurance doesn't cover at aflac.com wish we had aflac on our team. you can! ( ♪♪ ) ♪♪ ♪♪ ♪♪ ♪♪ ♪♪ as an independent financial advisor, my promise to you is simple. as a fiduciary, i promise to put your interests first, always. i promise that our relationship will go well beyond ju

. >> he's anti-iger and anti-biden what is that >> anti-sam altman as we know. >> yes look, the only way to save that chatgpt plant was to give it to tesla. i didn't know that. >> there was an interesting e-mail included in sort of this bit of a rebuttal from openai called openai and elon musk in which they cite a 2018 e-mail where he said listen, you guys, we're never going to be able to compete and maybe the only hope we have is, sure, maybe going for profit, but actually incorporating openai into tesla. that was in 2018 using tesla as its cash cow and then, you know, i don't think -- i believe attachments to other large suspects apple, amount would fail, due to an incompatible company dna. what is interesting is, that they believe that google was so far ahead in artificial intelligence in general that it could never be caught. >> amazing one of the things that my retired lawyer litigator paul weiss would say, you know, jim, that's a bad letter. >> it's not helpful for the -- for any -- >> it changes into a bad set of facts. >> this probably doesn't even end up in a courtroom, does

cooperate on good vision for this company, why can't it go back to that >> i think -- >> well, why is igerll on for ceo? >> i think getting it back to 10% is difficult and i think it will one day, but -- >> i am daring you to dream, and i am telling you have a great technical momentum which the company has not had for years. >> okay, netflix, they do have a high target. it's shy of 630 now, and it blew past other targets so they had to make a move >> they had to make a move, and i am surie he's telling accountants, buy it. plane and simple they are the winner. it's an easily told story. they are expanding what their offerings are. it's a small position for me, unfortunately. i am not adding more at this level but not selling it, and i will ride it you will see with all of these -- look, unfortunately, or fortunately, my family subscribes to every screaming service and you are seeing prices going up. people have to make decisions, which do i want to keep? you can't keep them all now. when it was 7.99 you could, and i think you will see netflix pick up more subscribers that others lose. >> a

they need to cut costs and come up with a solid succession plan for bob iger they hate the notice thatstock is going higher disney's board is desperate to stop him, and that means doing things that they wouldn't otherwise do, including some things that are really good for shareholders if not for peltz's involvement, i think this dog of a stock would go right back to the '80s. i'm not talking about the building of planes or the making of tv shows or movies or running theme parks. i'm talking process. if you own the stock, be grateful the process is working and these institutions are being preserved. like to say there's always a bull market somewhere. i promised i'd >>> i am in for brian sullivan tonight right now on last call, a flurry quietly searching. speak out right on tesla's tale another auto giant could take tesla's title as the biggest carmaker. >>> while trading debut hits through social tomorrow, we have a special preview. bat comes bit coin, how the newest rally could be giving the most bullish signal yet. breaking in the last couple hours dodgers megastar