peltz in a while. i have no plans to speak to him.g we need right now is to be distracted in terms of our time and energy by an activist or activists that, frankly, have a different agenda and don't understand our company and its assets and the essence of the disney brand. >> peltz's management is responding to the cnbc interview. we saw this last year and it is deja vu all over again. we have the latest on the discussion with ken. >> good morning, frank. >> does this change the activist campaign and do you still believe the campaign is good for shareholders? >> first, the clip you showed, bob iger calling peltz a distraction and saying he doesn't understand disney is disingenuous. they do not look at proxy fights as distractions. you can disagree all you want with peltz's plan for disney, but saying he doesn't understand it is disingenuous. it hurts bob iger's credibility. >> you still think this is good? >> this is about long-term accountability. the best thing for disney is for nelson peltz to get on the board. not because he has t

activist investor nelson peltz sounds off on ceo bob iger.ia giant's latest earnings report ahead. don't go anywhere. more "fast money" in two. >>> missed a moment of "fast?" catch us any time on the good. follow the "fast money" podcast. we're back right after this. hey you, with the small business... ...whoa... you've got all kinds of bright ideas, that your customers need to know about. constant contact makes it easy. with everything from managing your social posts, and events, to email and sms marketing. constant contact delivers all the tools you need to help your business grow. get started today at constantcontact.com constant contact. helping the small stand tall. (bobby) my name is my brand. my store and my design business? constant contact. we're exploding. (assistant) in a good way. (bobby) but my old internet, was not letting me run the show. (assistant) it needed a total redo. (bobby) so, we switched to verizon business internet. easy. they have business grade internet, nationwide. fast, reliable, and easy to set up. (assistant) b

i think that they may be able to say that they don't have to worry about peltz, but peltz isn't goingnywhere. if anything, peltz feels that other than the dividend, not much here. >> i mean, listen. as you know, i've known nelson as you have for many, many years. great respect for what he's accomplished in various efforts he's made through the years in terms of activism and otherwise, but on this one, i don't know that he's getting much traction, jim. >> you don't think that some of what -- when hugh johnson talks about the sense of urgency may be related to nelson peltz? >> the fact is, they did say they were going to save $7.5 billion or more in costs. that was put in quite some time ago. and they are beginning -- they are delivering on that in a way that at least the shareholders that follow the company had not anticipated for the quarter. so, i think they go into this, probably the last month or so of this proxy fight, with a pretty strong hand. i'll be curious to see if nelson will be able to garner one seat. i don't hear he's getting great traction. >> my problem is the last tim

nelson peltz has a much bigger stake in stock than bob iger does. iger basically sold out of almost all his position. and the board whom at least one member, nelson peltz would like to replace, has very little more than. they barely have ownership here. so doesn't that bode or poorly for disney, and as he -- nelson peltz -- moves toward really making a stink here, do you think it's valid at all, what he's asking for? >> i mean, that is currently the weak link, and we know that. gone are the days when they had little mermaid and beauty and the beast and lion king, pocahontas, etc., etc. that was a long time ago. liz: but to that point, they unveiled the new little mermaid, the redone snow white and even disney if said in a filing in november that they realize there's a misalignment between how they're putting out movies now and how they changed the narrative. some might say woke, but they changed the narrative, and they said there's a difference and a misalignment between that and what viewers really want. go on. >> but it takes -- back with, bob ige

. >>> nelson peltz is urging disney shareholders to reject two board members.e activist investor says they should withhold votes for the two who have sat on the board since 2015 and 2018. peltz has stepped up criticism over disney. >>> it's a moment that is still resonating from washington to silicon valley meta ceo securities and exchange commission mark zuckerberg apologizing about the impact social media has on kids pressured by josh holley, zuckerberg stood up and turned around and addressed the parents. >> would you like to apologize for what you have done to these good people? >> i'm sorry for everything. no one should have to on go through the things your families have suffered. this is why we invested so much. we will make sure that no one has to go through the things your families have suffered. >> zuckerberg declined to commit to senator holley's suggestion he set up a victims compensation fund >> silvana, thank you. >>> time now for the big money movers we start with ch robinson under pressure the broker says profits fell in the fourth quarter with t

peltz and mr.ard. >> the interesting thing is the stock has been up this year. is that because of some of the moves that iger has made and some announcements they've made? there have been a number of them. or because peltz continues to put pressure on the company -- >> they would say the last quarter is a reflection of the efforts that have been made. if you give them another quarter, obviously, the vote will take place prior to the next quarter where they show even more progress. i think that's sort of what disney is saying. it has nothing to do with peltz. as you might imagine, nelson would say very much otherwise. >> yeah. and that the stock started moving when he got back in and started raising the fight. >> it's all like pearlmutter shares. it's not trian's capital. >> why does that matter? >> typically an activist effort, you start an svp, here's our idea, let me give you a white paper or why we think we can do this change, you buy the capital, you buy the stock and then you execute. this is

i'm at a loss as if you are nelson peltz, what do you think you can do? >> the stock will tell the tale. no one likes that ending. that's all you have to look at there. it got back above 100. >> we will have an interview with hugh johnston, the new cfo. we have known him at pepsico and in the middle of the challenging environment in the media sector and living through the activist fight. we will bring some of that to you in just a little bit. we will go through all this with him. >>> shares of arm holdings are surging this morning. the chip maker beat on the top and bottom lines and issued better than expected guidance. arm's chip design technology by apple and google and microsoft and nvidia and is in nearly every smartphone and pcs. arm went public in september. softbank is under a lock-up provision which prevents it from selling the arm shares with certain exceptions after 180 days after the stock market debut. the rise of tech valuation is helping soft bank's quarterly profits. i was thinking about it. taylor swift goes there? you don't get revenue. >

. >>> still to come, we're going to break down the battle between nelson peltz and disney.ust a few days ago, peltz joined our show, called out the company's board of directors. >> that's the problem here, jim. this company is just not being run properly. the board oversight is awful. it really is. >>> well, we're going to get a reaction. that lady right there is one of dina disney's board members, and she will join us after the break. we get started with trading 20 minutes from now from here at the new york stock exchange. lot more "squawk on the street" straight ahead. ♪ ♪ every day, businesses everywhere are asking: is it possible? 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. see that? that's lik

," we're going to look at a pivotal set of earnings for disney as they look at the investor nelson peltz. we'll be right back. every stage of your business. with fast and secure payment. card readers you can rely on. and one place to manage it all. whatever the stage, businesses that grow grow with shopify. do you have a life insurance policy you no longer need? now you can sell your policy - even a term policy - for an immediate cash payment. we thought we had planned carefully for our retirement. but we quickly realized we needed a way to supplement our income. if you have $100,000 or more of life insurance, you may qualify to sell your policy. don't cancel or let your policy lapse without finding out what it's worth. visit coventrydirect.com to find out if your policy qualifies. or call the number on your screen. coventry direct, redefining insurance. xfinity rewards presents: '1st and 10gs.' xfinity is giving away ten grand to a new lucky winner for every first and ten during the big game. enter daily through february 9th for a chance to win 10gs. with the ultimate speed, power, and

so splitting up disney would make a lot of sense, and that's why you're seeing people like peltzing todisney+ and what not, and start to generate some value out of this company. >> it sounds like you're in favor of some of these in all fairness since bob iger returned the s&p has far outperformed disney, up 6%, 7%. do you believe these proposals will that juice the stock and as a long-term investor, is that why you're pushing it? >> yeah. we bought the stock not just after they stepped in, but there's been chatter about the activists. we think there's real value to unlock disney, we've been more shaded toward the artificial intelligence play, the nasdaq 100. the nifty seven or whatever they want to call the top seven tech names. but disney is still awaiting and holding the portfolio because we think here's real value. earnings coming up we expect the parks return and revenue to be very strong in this last quarter. i think they can get things turned around. it seems like a stock we haved a tremendous value this is one of those names, i think, can unlock some value, and we really have a

i asked if this was enough to speak to nelson peltz. >> if you look at the results we just announced, and all the things that we're talking about, that is the result of a team that is motivated, that is focused, and now all of us are very optimistic. the last thing that we need right now is to be distracted in terms of our time, our energy, by an activist or activists that, frankly, have a completely different agenda, and don't understand our company, its assets, even the essence of the disney brand. and i think i'll just leave it at that. >> reporter: iger saying he has no plans to speak with peltz. i asked him about disney's new joint venture with fox and warner brothers discovery to launch a streaming sports bundle this fall. i asked whether it could accelerate cord cutting or cause conflict with their pay tv distr distributors. take a listen. >> we've watched for years the decline of the basically the linear bundle on cable and satellite. and we've been preparing for a world where that business is not as strong as it used to be. launching disney+ is an exactly of that, the investm

next hour, don't miss activist investor nelson peltz. live market coverage continues after this.rapy. ♪♪ so you can rise from pain. icy hot. fresh, warm hot dogs! when i'm not selling hot dogs, i invest in a fund that advances innovations like robotics. fresh, warm hot dogs, straight out of my torso! one for you, one for you. oh, you're a messy one. cool, right? so cool. anyone can become an agent of innovation with invesco qqq, a fund that gives you access to nasdaq-100 innovations. hot dogs! fresh, warm hot dogs! before investing carefully read and consider fund investment objectives, risks, charges, expenses and more in prospectus at invesco.com. (vo) what does it mean to be rich? fmaybe rich is less abouts, reaching a magic number... and more about discovering magic. rich is being able to keep your loved ones close. and also send them away. rich is living life your way. and having someone who can help you get there. the key to being rich is knowing what counts. >>> good morning wednesday morning and welcome to "money movers." i'm sara eisen with carl quintanilla live with you

are you going to talk about disney's upcoming slate other than the one that peltz wants?> no, most likely not >> what do you think of that remember when we used to be holding our breath to see what disney's going to put out? now, it's, what, they shut down one of the rides that was one of my favorites to fix it up. not jungle cruise. >> mr. toad? >> jamboree. right there. netflix has a content slate. me, i'm aggrieved that jamboree is shutting down, but don't worry, the hall of presidents is still alive and well >> i love that hall of presidents a $244 billion market value for netflix far in excess of any other of these media companies says it all. obviously, the crackdown on passwords, the increase in subs. we've talked so much about it this last quarter. ad-supported coming on and gaming the question is, are they a threat to anybody in that industry >> no. >> no? in gaming? >> remember when time warner had that game? >> there have been -- listen, paramount -- redstone owned a gaming company for years and nothing happened there was a brief period where our company though

when julia boorstin spoke to bob iger yesterday, she asked about nelson peltz.e doesn't intend to speak with him. what does this do to dent disney's profile when you think of the challenges in the coming quarters? >> i think that is a little bit on the back burner given the slew of measures that certainly teams to have investors excited. when you look at the lift in the share price and recently after the measures announced after market. i think it is, of course, a concern and what he was concerned about which is you cannot rely on continuing to up costs and prices at the parks. parks are still a cash cow of the magic kingdom. revenues up 35%. of course, that is up from the covid low with the restrictions in it place last year. it is clear you can't rely on growth just because you are keeping prices rising. i think that by bringing more characters in and more brands and the "fortnite" brand and offering excitement in another way, that will allay the concerns. the prices at parks are still excru excruciating. for meany, it is a once in a lifetime experience. disne

. >>> and don't miss nelson peltz's interview at 5:00 p.m. cti. >>> and coca-cola largely met sales expectations as higher prices helped the beverage maker helped with a volume decline. unit case volumes rose in rival to pepsico which saw price hikes lead to a 4% drop in volumes. ceo james quincy laid out his plans for the company. >>> we're going to have some areas of tailwinds where things are going to go well. economies like india are going to continue to do well, australia, a number of other markets are going to do well. the u.s. will slightly pick up through the year, but overall we think about in terms of there's going to be tailwinds and head winds and things we know are going to happen and things that will be surprises. our focus is what we can control in investing in our business so we can have an all-weather strategy that plays through all the headwinds and tailwinds. know how up and down and crazy it's been. if we have the right set of capa capabilities, we can manage what come s in front of us. >>> oil prices are under pressure am

. >> this is the bob iger affect were nelson peltz can't get around hollywood to save his life.ob iger is really the key to getting good content back on disney which ultimately, when you talk about all the things that need to drive disney forward, it is all that great ip or great content and that is the biggest challenge, making great content in hollywood. so to get sort of the taylor's cut of this version of the movie for disney plus will definitely move the needle in a huge way. she's a phenomenon that is massive, so that is a great start. the investment in epic games, the kids play fortnite consistently, having an alternative universe that is all disney characters and all the revenue that comes with all the purchases on an ongoing basis from the way gaining is done today is not only the business disney needs to be in, but they are smart in that they are living epic do it. disney has failed at gaining over and over again but epic has made a wonderful success. these verticals along with the way they are monetized is exactly what disney needs. ed: a pretty good summary of about

. >>> nelson peltz, delivering some strong comments to disney's bob iger. >> very little meat on thec games, up 1,000,000,000 1/2 dollars. what is the return? what are we getting to shareholders? a nice announcement, i hope. they don't have a long history in video games that is very positive. "what should we do with it?" bacon and eggs 25/7. you're darn right. solar stocks are up 20% with the additional hour in the day. [ clocks ticking ] i'm ruined. with the extra hour i'm thinking companywide power nap. let's put it to a vote. [ all snoring ] this is going to wreak havoc on overtime approvals. anything can change the world of work. from hr to payroll, adp designs forward-thinking solutions to take on the next anything. ah, these bills are crazy. she has no idea she's sitting on a goldmine. well she doesn't know that if she owns a life insurance policy of $100,000 or more she can sell all or part of it to coventry for cash. even a term policy. even a term policy? even a term policy! find out if you're sitting on a goldmine. call coventry direct today at the number on your screen, or

, the moves they made, the $1.5 billion in epic gaming, the taylor swift "eras," and here's nelson peltzian's reaction to everything that was announced. >> it's not that i'm not satisfied. you know, this company sells at a multiple of their pronouncements, you know, a very high multiple. they made these announcements like this management team just came into office about a week and a half ago. they have been here for 20 years. all of a sudden, they've awakened and they want to start making all these announcements? >> he had a cartoon that was good in the latest fight letter about the -- what the board table and the spaghetti at the wall. >> spaghetti up against the wall, yeah. >> he raises this issue that they were election announcements and not state of the union announcements, when it comes to strategic vision of disney and how they're going to think about existential ideas like the world of streaming. he looks at -- >> still waiting for them to put out a significant white paper the way that trian has so often in the past when they've really dug deep on these things. there's been nothin

nelson peltz calls it their spaghetti against the wall plan.disney's management may be a day late and a dollar short. >> it's not that i'm not satisfied. this company sells at a multiple of their pronouncements. they made these like this management team just came into office about a week and a half ago. they have been here for 20 years. all of a sudden they have awakened and they want to start making all these announcements. ah, these bills are crazy. she has no idea she's sitting on a goldmine. well she doesn't know that if she owns a life insurance policy of $100,000 or more she can sell all or part of it to coventry for cash. even a term policy. even a term policy? even a term policy! find out if you're sitting on a goldmine. call coventry direct today at the number on your screen, or visit coventrydirect.com. oh no, a rash. maybe it'll go away. awww, how am i going to find a doctor i'll actually like? is that a qr code? dr. stafford makes you feel at ease. thanks rash! you've got more options than you know. book now. (vo) what does it mean

activist investor blackwell as reportedly plan the challenge to nelson peltz in the wendy's board ofecords but -- gordon has guys calling it a publicity stunt, as blackwell looks to push back on triumph activism on disney shares. there's so many different activist cross currents here why. are you bailing on wednesdays? >> so, when you look at wendy's, you could see that it's kept up the last few quarters after earnings. however, those earnings have immediately sold. off you can see we have investors taking profits and a chance you get on out of turn move. you also have the fact that it's underneath critical resistance, it's in a short term downtrend, and you, know when you have a stock that is coming up on the earnings reports, that negative reactions to earnings in the past that's typically an opportunity for investors to get out before the report. so, i think this one is a short year, i turned it down to about 1750, just say, you, know i'm wrong about 21, 22. >> all right, danielle, we've got just a few moments left here. speaking of disney, that is a buy for you today. shares are

peltz?his has been a distraction and overhang on the disney management team, all of the activist investors. i think yesterday mr. iger really came out swinging. he is back with a bang. he was on a roll in terms of all of the things that he delivered, not just with financial results and execution, but in terms of strategy. you have the one-two punch with the streaming project. you have the espn standalone coming out next year. i don't know what else there is that disney can do. they know the business better than anybody else and i think the bob iger is right when he says that. no other activist or outsider knows the business or the brand better. and this is an unnecessary distraction and to fear and to fear it's for them. lisa: let's talk about the brand in the streaming business given that they don't invest in content and questions about how they are going to spin off or monetize the espn offering. where do you see the growth coming from? geetha: they are doing a lot of different things for

nelson peltz has formalized his pitch to disney in a long-awaited letter to shareholders. he questions the company's planned investments in park and cruise line divisions. in response, disney's board says he brings no media experience and has presented no strategic ideas for disney. he owns around $3 billion in disney stock. meta ceo mark zuckerberg stands to receive a payout of about 700 million jobs a year from the first ever dividend. he is already the fifth richest person in the world. this payout will be a nice boost to the $27 million he took him in 2022. that is your bloomberg brief.ats are more magnificent than others. >> you cannot question a spectacular financial management here. jonathan: this is "bloomberg." ♪ how am i going to find a doctor when i'm hallucinating? what do you think, fever monster? what about zocdoc? zocdoc? dr. castell has a great bedside manner. so many options. but dr. xichun will take your sketchy insurance. xi-chun! xi-chun, xi-chun, xi-chun! thanks, bro! you've got more options than you know. book now. jonathan: live from new york city co

and obviously the proxy fight with nelson peltz. >> in your community bank, how the regulators ever lethe worst bank in new york buy the default? i don't understand how they did that i'm going to investigate that. not investigate, i don't have subpoena power the analysts are out saying, you should buy on the weakness, huntington bank. you should buy comerica and morgan stanley last year, we were all running from the banks because of what happened now, people are saying, buy the banks. i think there's a lot of reassurance. there's also, you know, you'll get a mcdonald's mcdonald's will say, look, the consumer is weak, and then you listen to chipotle last night, brian niccol no the consumer wants value and freshness, and they want fewer ingredients, and mcdonald's isn't resonating for them, which is really amazing. it's finally happened. i think we're at a tipping point where people actually care about what goes into your body >> the chipotle comps are pretty amazing. street was looking for seven operating margin up 140 basis points to 25-plus. >> brian niccols, amazing, and they do have

that's the course we're following at the moment >> dirk, i'm doing some work about whether nelson peltz be a valuable board member for disney when he served at mondelez, did he do a good job for you >> yes, he did he did i thought that he was a major contributor to our board, that he had the best interest in mind of the company he pushes hard, so, yes, he comes up with ideas, and he tries to challenge the ceo, but i always welcome his ideas, and i enjoyed a very good working relationship with him. >> well, there's something i think disney could use, the stock's been almost cut in half for my travel trust and i'm not feeling very charitable toward them dirk van de put, congratulations. you've triumphed over a lot of things, and one of the reasons is your stuff tastes so good thank you very much. >> thank you >>> got manufacturing and services pmi crossing the tape let's get to rick santelli good morning, rick >> good morning, carl. indeed, it's going to be a one out of three with regard to these pmis from s&p global the best one out of three is 51.5 for headline manufacturing. it's highe

disney, and that battle is separate, we should mention, from the proxy battle taking place by nelson peltz'slling a pure electric super car. the model is priced at more than $233,000. phil lebeau calls it a conversation starter. let's bring in phil. what do you make of this car? sounds right up your alley, phil. >> it is a conversation starter. joe, are we going to see this car any time soon in the united states or outside of china? probably not. and frankly, you're not going to see many in china. they've unveiled it. it's going to take some time to bring this to production. i do chuckle. online, you hear people saying, it's a ferrari competitor. let's be clear here. ferrari is in a different category for a whole bunch of reasons in terms of desirability, the limited number of vehicles that are built, the fact that they have a built-in demand, if you will. this is a super car in price only. now, if it ultimately develops into a must-have among the world of super car owners, then it's a different story, but at this point, it is a conversation starter. that's all it is at this point. >> the ne

boy, has his new job gotten pretty interesting given all of the challenges disney is facing, nelson peltzhere's going to be a lot, a lot to talk about. >> no more doritos. >> that's on you. >>> as they're paying to buy comcast out of the hulu deal, e guess the question is this more successful because it comes out of the sports sued of things >> it could be the same headache they have with hulu right now. the perfect world is where i can watch every single game i want to see and i still don't have that i still don't understand why i can't -- i guess i could do red zone. >> this gets you much closer, and that's where we're headed. i think this is the beginning of the end of the bundle. to me -- >> the cable bundle, the beginning of the streaming bundle. >> the danger is for paramount, nbcu, and others who are not part of this, depending how you think the competitive landscape shakes out and if people decide to buy one thing other another, that's to me where it gets super complicated super, super quick i also think this package may ultimately get sold in with amazon, which may get interestin

. >>> meantime neknnelson peltz o today's money movers. >>> when we come back on "squawk box," we're to talk about the selloff. much more with mohamed el erian. >>> right now as we head to a break, let's take a look at s&p 500's winners and losers. >> announcer: executive edge sponsored by at&t business. next-level moments need the next-level network. - 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. encore energy, america's clean energy company, now in production in south texas. energizing america with reliable and affordable uranium for nuclear energy fuel from our environmentally friendly extraction process. encore energy. you're watching "squawk box." nasdaq up about 103 points. the s&p 500 up. check out bin coin. $51,404. >>> yesterday's hotter than expected inflation data casting some doubt on the market's expectations for fed rate cuts. i want to bring i