i know how much capital nelson peltz has. >> but a peltz put means he's active in the market at a certainon. >> okay. >> but you can see how much capital he has. p it's not unlimited capital. he's a portfolio manager running a fund and has to have, you know, risk management skills. i don't think you can count on peltz continuing to buy with deep pockets like a warren buffet to support the stock. number two, i don't know how much value is inside streaming. it's losing money with no road to profitability in sight. look how long it took netflix to get there. >> but jenny let me finish. >> but jenny points out the value person looks at disney and says to the point jenny made, it's only being valued on the theme parks. right? >> the success of the theme parks it has much more to offer than the theme parks they can figure out how to turn the -- >> right. >> so my position on disney is, i would like to buy it. classic company. it's not overly expensive compared to historical norms at 0 times, but i'm not so sure the downside is done until they flesh it out. i'm not sure they tonight need to do m

peltz and iger it will in disney.tion window opens december 5th. >> i believe so. then you would go to the meeting in the spring. this would play out over some period of time. we'll be watching. no more really to share at this point in terms of who would be on that slate, for example. >> which is critical with a universal proxy which you can pick and choose which slate goes on to the board. >> great point. >> general mark kimmette, former secretary of state under george w. bush his read on the growing inusel-hamas conflict when he jos next. we're back in a couple minutes. >>> uniquely american. it was initially created as hispanic heritage week by lyndon johnson. later it was extended into a month by ronald reagan. it's a unique opportunity to celebrate our diverse set of cultures. it ties us together. not only through our hard work, but through our communities and more importantly, through our families. hispanic culture defines the american experience. >>> welcome back. i'm silvana henao with your cnbc news update. w

. >>> nelson peltz gets help in his fight against disney and ceo bob iger. >>> and after a whirlwind 72 hours, general motors is the lone holdout and they are paying a high price. >>> it is monday, october 30th, 2023 you are watching "worldwide exchange" here on cnbc >>> good morning welcome to "worldwide exchange." i'm frank holland. hope you had a great weekend let's check on the u.s. stock futures after the worst day for the dow in four weeks and worst day since august futures are in the green looks like the dow would open up 140 points higher. nasdaq .50% higher investors waking up with a lot to chew on for the week. 30% of the s&p 500 reporting earnings just barely a tick below last week where we should hit the earnings season by the end of the day today. names of berkshire and mcdonald's and caterpillar and apple reporting. also the bank of japan rate decision and the uk rate decision on thursday all that capped off with the october jobs report on friday. ahead of that, we are looking at the bond market. ten-year yield at 4.85%. the two-year yield above 5%. 30 30-year yield abo

so other than a board seat, what will peltz push for?aid that iger need execute on his promises. since then iger has done the job cuts and also announced had he is looking to take espn direct to consumer and he is exploring selling the company's linear networks. he also reportedly that they are looking at options for the company's struggling india business and espn made a big move into gaming. and disney last month announced that it is doubling its investment in its parks division. disney says it that not no comment on this news and we are waiting for an additional announcement from trian. >> and is this is incredible to. the proxy fight ended on our air on the heels of that iger interview. but the stock to your point has been an underperformer. it is down 2%, 2.5% since the start of the year. 13% the last 12 months. what will it take from a market perspective to see if shares of disney get reignited here in the market? do we know yet? >> i think that there are two things at play here. what will it take to make nelson peltz satisfied tha

. >> still to come, nelson peltz back pushing for change at disney. after a short break. (♪♪) it's inspiring to work at a place where our patients succeed. and where we as therapists do, too. with great benefits from principal, our clinic shows they truly care about us. (♪♪) >>> arm holdings getting quite a few bull calls today. a slew of analysts initiating coverage and are optimistic about the chip designers growth. that's what deirdre bosa is watching in today's tech check. >> 25 days since arm went public. that's the quiet period before the banks that underwrote the ipo publish research. in arm's case there were many of them. a flurry of notes this morning. i counted 10 altogether. every one of them a buy, that leaves just one sell rating from bernstein, not involved in the ipo and gives arm a medium price, a mean price, target of $63.43. $10 above where it trades today. the market has cooled on arm. the stock surged 25% on its debut, ipo day, but has paired back most of those gains. since i covered softbank i'm always interested in what this mean

allstate hired investment bankers on how to handle nelson peltz. shares up in the pre-market. >>> anti-d taiwan semi will rep results on thursday. this will reflect a strong performance from last year when it benefitted from the post-pandemic demand. the chip industry will emerge from the down down next year. >>> straight ahead on "worldwide exchange," tim cook is rea reaffirming the commitment to china on the crackdown on foreign tech. >>> if you miss us, check us out on apple or spotify or other podcast apps. more "worldwide exchange" coming up after this. with comcast business... it is. is it possible to help keep our online platform safe from cyberthreats? absolutely. can we provide health care virtually anywhere? we can help with that. is it possible to use predictive monitoring to address operations issues? we can help with that, too. with the advanced connectivity and intelligence of global secure networking from comcast business. it's not just possible. it's happening. >>> it is 5:30 a.m. in the new york city area. there is more ahead here

. >>> and later, nelson peltz is not giving up on bob iger and the turn around at disney. we will have more when "worldwide exchange" returns. heat makes it last. feel the power of contrast therapy. ♪♪ so you can rise from pain. icy hot. no matter what you're up sagainst, rise from pain. we have your back. we are united way. we are neighbors helping neighbors in communities around the when disaster strikes we get you back on your feet. we help children build brighter. we've been here for over 135 s but now our work is more . join us. join your neighbors. join united way. no matter what you're up against, we have your back. we are united way. we are neighbors helping neighbors in communities around the when disaster strikes we get you back on your feet. we help children build brighter. we've been here for over 135 s but now our work is more . join us. join your neighbors. join united way. no matter what you're up against, we have your back. we are united way. we are neighbors helping neighbors in communities around the when disaster strikes we get you back on your feet. we

peltz plans to push for multiple board seats at disney. after disney shares just last week hit their lowest level since 2014. it also comes after back in january there was a proxy fight against disney, criticizing its acquisition in succession plans. peltz dropped the battle after ceo bob iger unveiled a corporate reorganization and meaningful job cuts. "the stock is stuck in the exact same spot, and disney is holding a much weaker hand of cards than it was holding last winter." the stock is down since then, but bob iger has announced a slew of changes. disney had no comment, and we are awaiting official announcement from peltz about the plan. >> julia, thanks. to julia's point, sort of peltz stood down the first time, them watched the stock do nothing even though this plan was enacted and now is i guess thinking enough is enough, time for more action. >> presumably. the cost of get back involved has gone down as the stock has declined. i don't think anyone has the impression there are three orrive five obvious things to be done to reorien

activist investor nelson peltz is reing niggniting a proxy figh disney. those still near a nine-year low. "the exchange" is back after this break. ♪ ♪ >> this is "the exchange" on cnbc. in the u.s. we see millions of cyber threats each year. that rate is increasing as more and more businesses move to the cloud. - so, the question is... - cyber attack! as cyber criminals expand their toolkit, we must expand as well. we need to rethink... next level moments, need the next level network. [speaker continues in the background] the network with 24/7 built-in security. chip? at&t business. with gold bond... you can age on your own terms. retinol overnight means... the smoothing benefits of retinol. are now for your whole body. plus, fast-working crepe corrector diminishes wrinkled skin in just two days. gold bond. champion your skin. >>> welcome back to "the exchange." shares of disney higher after activist investors nelson peltz increased his stake in reigniting proxy fight concerns and the fund management is one of disney's largest investors holding 30 million

is there any chance that nelson peltz gets a board seat?e would be the biggest share shareholder, but not big enough to warrant a board stake. these things have a habit of gaining momentum. the habit of developing momentum particularly if the investor is putting forward a tangible plan for driving shareholder value. you mentioned, joumanna, the problem here is the stock is underperforming. it has performed for some time. it is incumbent on the company for shareholders to create value and reinstate dividends. >> they paused dividends back during the pandemic. that will be a big question mark for investors. let me ask you about streaming and the challenging with streaming. we have netflix earnings this week. that will be a bellwether for the sector. what are you watching out for there? >> i'm looking for more messaging around content spend going into 2024 because that's the variable cost which they have control together with marketing. they have less control over sub is de growth. the other issue is advertising in general will remain soft. th

the report shows his fund manager will request multiple seats for peltz.nched a run for a seat on disney's board earlier this year, but withdrew in february after the cost cutting plan was released for disney. now shares are trading back near the lowest level in a decade. >> when bob iger was interviewed by david faber over the summer with plans, a lot of people said why is he saying all this so publicly? why announce he is thinking about this or that? >> or the assets are not good? >> or before landing the plane on actually making an agreement or deal or this or that -- this is why. i think there was an expectation if not perhaps the knowledge that nelson peltz was sitting in the wings or another activist would come or the best defense is to say what do you want me to do? i said i was thinking about it. strategic options are on the table. everything is on the table. that is the defense you would make to an activist. whether it is a persuasive defense is up to the market. >> it worked for a while with peltz. nothing has happened. >> the stock popped. >> wh

i'm thrilled that peltz is involved because i don't like losing money.t's a fact of life. >> sounds to me, carl, like we may get a visit from nelson peltz soon on the show. i'm feeling it. >> the stock is at $85. the price i bought is considerably higher. in the world of karen cramer, that makes me an idiot. i left out an expletive that would have made idiot sound a little more serious, and i would have had to wear a post-it that said dis, and karen would have been right. karen cramer, who, by the way, is my ex-wife. so we just put it out there. she's a great trader. >> i want to hit lvmh, because we have talked for some time about what does appear to be a slowdown in luxury. lvmh, of course, has been such an incredible success both as a company and as a stock and has made itsfounder and ceo, bernard arnault, one of the wealthiest men in the world. he goes back and forth with musk or has. but you can see there, it was topline growth but the concern here is sequentially slowing trends. what some are calling a normalization but certainly concern about macr

activist announcer nelson peltz his short-lived role as disney agitator acquiring more disney sharesouse to to an applicant others. it is expected to request multiple seats on the board including one for nelson peltz he attempted to get a seat on disney's board earlier this year after the privately rebuffed his request to become a director, he withdrew his nomination in february after disney unveiled the organization a cost-cutting plan that sent the stock up but it's been down since them in today with the news that nelson peltz is back in or ready to agitate is up 2%. a week after writers picked up the pins again the actors are back at the negotiating table with the studios. how much longer can the hollywood strike go one. billionaire haircare products turned tinsel to as a whole host of content he wants to produce. he is waiting on this. he is next on "the claman countdown". closing bell 27 minutes away, down industrial 174-point whether market much more comfortably above the flat line that they were earlier. s&p of 26, nasdaq better by 50 cents. ♪ (woman) what if my type 2 diabete

is nelson peltz the answer? tim? disney shareholder, what do you say?> i don't know, because it seems that the last catalyst that peltz was bringing on was aggressive cost-cutting and trying to get to profitability, and that was good for a rally in the disney stocks, but we're stick around the big issues around disney. i think you do get back to valuation on disney. you get back to the parks business. the trailing parks numbers are fantastic. so, the trailing parks means that disney's trading, you get the entire rest of the company for free for what the ebitda historically -- actually cheap for the parks ebitda. i don't love some of the challenges ahead of them, but the assets are worth a lot. >> you ask the question, is he the answer? i don't know, but he's not the problem. he has an interesting history of being an activist that is really in it for a long-term. >> right. >> and so, he's done that a number of times. mostly with success. occasionally not. ge is one. but -- proctor & gamble, very successful one. so, i think -- i don't think disney can loo

nelson peltz bought 30 million shares. there's a little nonanimosity here. at, this stock was at 200 in march of 2021 and it's now at 84 and i think that nelson peltz crafting notice that the stock is down huge and that that's probably not right. the idea that it might be iger, that it might be chapek, doesn't matter. the fact is the stock is down big. if we were in anything else say in sports, what have you done for me lately? absolutely nothing. i know that there's blowback when you say listen, the stock is awful. but, you know, you are what your record says you are. >> well, at least we got a sag-amptp meeting and they'll meet again tomorrow. another joint statement. people take that constructively. >> yeah. i think that that -- i understand when you see a stock down that much you buy it. you want to know what's wrong. >> how about tonight? >> carmax. they rarely due tv. and then damond john from "shark tank" who invests in a lot of companies and have great vision at all times. kept me in apple when it was at 30. >> see you tonight. >> thank you. >> "mad

peltz, decided, no proxy fight. we're potentially seeing it again. i know you're not involved. make sense in terms of what you might accomplish at disney? >> i'm not involved but it makes no sense to me why bob iger would want a fight. he's got his hands full. a transition to streaming, the linear business, you know, under a lot of pressure. you know, probably too much leverage. why he wouldn't embrace nelson and want him in the boardroom, doesn't make sense. >> that seems like nelson's -- it's a lot of different fundamental ideas -- >> i don't think anyone knows exactly what this is going to look like as the business evolves. however, i think you would want nelson in the room with you helping you navigate that transition. i would guess that if he did that, nelson two or three years from now would be his closest adviser. that's my personal opinion. and i would advise him to let nelson in the room. >> so far that doesn't appear to be happening. always good to catch up with you. look forward to hearing news from you as well in terms of this new view of activision. >> thank you. >

that's the only thing bob iger can control in disney and this along with nelson peltz will force himo do that which i think is great for shareholders. >> it may send down a chill down the company's price at this point. laura, thanks for joining us we appreciate it nice to see you again. >> laura martin with nneedham. >>> how they're navigating this very difficult rate environment and a special commercial real estate edition of "earnings exchange." we heard from empire state realty ceo after their positive results. what about the rest of the space? morgan stanley's head of cre will join us next with what to expect, and as we head to break let's get a quick check on markets as the dow is taking a leg higher up 435 points or 1.3% and the outperformer looked at the gap between the blue chip and the big caps in the dow and the russ will 2000 small caps and the s&p and the nasdaq right in the middle and the ten-year still at 490 we're back after this. ♪ ♪ >>> this is "the exchange" on bc cn nice footwork. man, you're lucky, watching live sports never used to be this easy. now you can strea

the report shows allstate has hired investment bankers to see how to handle peltz. allstate has not raised premiums fast enough to cover losses by paying out on natural disasters like wildfires and inflation has made it harder to replace costs. carl icahn did not publicly push for board seats or other changes two years ago. what nelson will do next is a big question. he is keeping the investment banking business in business at the moment. >>> when we come back, we have earnings alerts for you. we will hear from johnson & johnson and bank of america and goldman sachs. these are all happening this morning. we have other names out there, too. after the johnson & johnson report, we have a first on cnbc interview with the cfo joe wolk. you are wahisqwk b" tcng "uaox and this is cnbc. >> announcer: this cnbc program is sponsored by baird. visit bairddifference.com. what do you see on the horizon? uncertainty? or opportunity. whatever you see, at pgim we can help you rise to the challenges of today, when active investing and disciplined risk management are needed most. dra

is offering support as peltz pushes for changes at disney including board seats perlmutter has givening stake in the company which boosts the reported stake with perlmutter and now has four times as many voting shares as the first proxy campaign i'm not sure they would still win the campaign, but puts more pressure on the board and on bob iger >>> when we come back, israel began what it is calling phase two of the war against hamas over the weekend we will talk to james stavridis. "squawk box" will be right back. . enjoy richer, bolder flavors complete with velvet smooth crema. now brewing peet's coffee. when you need to prepare for unpredictable adventures... (gasp) you need weathertech. [hot dog splat.] laser measured floorliners front and rear. [drink slurp and splat.] (scream) seat protector to save the seats. [honk!] they're all yours! we're here! hey, i knew you were comin'... so i weatherteched the car! can we get ice cream? we can now. kid proof your vehicle with american made products at weathertech.com. ♪ is it possible to fall in love with your home... ...before you even s

breaking news, the journal reporting on disney, nelson peltz is boosting their stake in disney.llion according to people with similar what is good -- family what is going on, is a function of that that right now they will be pushing for more representation on the board. the headline is seats, that appears to be plural. there is a mentor -- window for shareholder nominations from december 5 through january 4, 2024. >> they took a stake for the first time in the second quarter here, and they are increasing that. we will be discussing the reserve bank of interest -- india's interest rate path after they stuck to a hawkish tone. we will be talking to their chief economist sharing views later this hour, but first, market strategy with our guest. this is bloomberg. ♪ ♪ explore endless design possibilities. to find your personal style. endless hardie® siding colors. textures and styles. it's possible. with james hardie™. (sfx: stone wheel crafting) ♪ the biggest ideas inspire new ones. 30 years ago, state street created an etf that inspired the world to invest differently. it still doe