holding peltz's hand. discussions with peltz.s the ceo had to create a new executive position to handle all the managerial duties so she could spend all the time dealing with peltz. so that, i think that is a risk. on the other hand, some of the charges against peltz ignore the fact he is a very large financial interest in the success of disney. by the way, he bought last fall. he's sitting on a big gain already. he wants the company to succeed. he wants it to make money. he is aligned with the interest of other shareholders. i don't think it makes much sense to say he's going to go in and be destructive. that's the last thing he'd want to do. >> certainly not his financial interest but that whole process may be distracting if he is indeed elected to the board. another key piece of this company of course is the parks business. great interest to nelson peltz and a huge piece of disney's revenue and profits. john, you're bullish as well as they continue to invest and expand. i'm curious if you're at all concerned about the growth i

but since peltz became involved, iger has taken a number of steps, things that peltz has been callingor. 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 today. we will see some more announcements from disney, like the one this week where they said the taylor swift movie was the most-watched music movie on disney plus ever. more announcements li

this has nothing to do with being stalked by peltz ubs did not upgrade with peltz >> according to theerpaid for acquisitions we will look at your research. disney has tripled the investment in marvel more than that with pixar. that is what i think of as tent poles as the disney empire. you have math that makes it all make sense >> drive through the article the money that they pulled in by selling right away with sky at $15 billion. you got $11 billion for selling off the regional sports network. selling to arts and entertainment and selling that off. they have great valuation and a big indian operation in star $12 billion there. the hulu valuation is $12 billion. this starts to add up after a while before you get to the franchises they get in the deal here some hottest properties have come in. this is quite valuable this is worth $74 billion and they paid 71 it is hard to say this is a bad deal nelson peltz confuses the math >> you can't be that surprised we have the graphic. you're on cnbc all the time. >> at this hour? frank, i don't know how you do it. >> we have the shareholder me

but it's a win for peltz.d activists. >> they've never gone against him. >> they have split the ticket as they are in the past but disney would have loved to have had this in its column with glass lewis which it did get earlier in the week. >> today is the day for peltz he got iss. the letter we talked about earlier in the week the other ceos that have worked with nelson being supportive of him. now they are sending a letter to disney board and just want to read a snippet of it. they say some of us like you are skeptical about nelson and were initially opposed to the notion of having him on our boards, and he might derail our strategy, however, after we worked with him, we know our concerns were misplaced. >> who signed the letter? >> a number of ceos, david taylor is on the letter, ali dubaje, director of janis henderson, a number of these prior ceos, heinz company, leg mason, i mean all companies that ppg, francis blake, former director of procter & gamble. >> yep. >> daniel bearford, ceos that have been in

. >>> later, disney gets personal as nelson peltz takes on the board. it's tuesday, march 12th, 2024. you're watching "worldwide exchange" right here on cnbc. >>> good morning and welcome to "worldwide exchange." thank you for being here with us. let's kickoff the hour with the check of the u.s. stock futures after the mixed session yesterday with the nasdaq posting the second down day in a row. look at futures right now. just a mixed picture. dow is moving a flat. the nasdaq is firmly in the positive territory. s&p is the same story. stocks are looking to make up ground this morning, especially after nvidia with the sharp move lower on friday. it's biggest down day in a year on friday. it was higher yesterday and higher this morning. it is up 1.5%. nvidia is among the pre-market gainers. we have the cpi due out at 8:30 a.m. eastern time and we see the benchmark at the same level as yesterday at 4.08%. we are looking at bitcoin. trying to hold above 72,000 mark. we are seeing bitcoin a tick below 72,000. down .75%. we did see ethereum touch the 4,000 ma

what nelson peltz says makes sense. disney already has a partner with a&e. why not a partner for its other television channels? it's going to need it. look at what netflix is doing this summer. look at what's being done with apple in baseball and amazon and football. disney needs a partner. it's real. it's understandable. so there's a valued argument that he is making, a very valid one, and i just wish they would come together because i think together the effort would be much stronger and ultimately produce the outcomes that's best for the shareholders. >> i think he deserves a seat on the board, and everything nelson peltz has been saying is correct this is a company that has to find its way in the media world that has changed so dramatically since bob iger ran it the last time. it's not that many years. but this is an entirely new landscape. and just the fact they're trying to come up with a new streaming platform, it's very, very complicated. they own pieces of this and that and, you know, having a little more help isn't a bad idea. >> disney's argument,

he wants to get peltz and former disney cfo elected to the board. >> the saga continues.isney shares under pressure. silvana, thank you. >>> turning attention now back to the markets and check out this stat. this is courtesy of jonathan krinsky. the s&p has gone 300 trading days without a pull back. the qqq tracks the nasdaq 100 which mark ed a 14th straight record high. this does not mean the a.i. driven boom in the market is headed for a selloff, but he feels we are due for a shakeout. on "mad money" last night, jim cramer said the haters have failed to celebrate market victories. >> i will be ready to buy if the market sells off. don't pick the first bite. the haters will be ready to show. raise some cash and be ready to do some pbuying. >> jim cramer addressing the haters out there. let's get more from alex morris at fm investments. not sure if you are a hater. good morning. >> good morning. thank you for having me back, frank. >> let's dig into it. is this the time to pile in with mega cap tech or look for other opportunities? we will show a chart that you are pointi

they are weighing in on the proxy fight with nelson peltz.s clothing. >>> congress passing another short-term spending bill to keep agencies open until march 8th and march 22nd. >>> and a ceo change after unte internal control issues for new york community bancorp. >>> we are watching the latest this week as we have tom barkin speaking to cnbc this morning as well as austan goolsbee. >>> back to the markets. s&p and nasdaq coming off fresh record closes to start the trading month. look at futures. we see they are in the red across the board. it took a turn to the down side. the dow would open 90 points lower. on "mad money," jim cramer said the one-two month of pce data and the momentum is providing fresh fuel for the rally. >> if you are bullish, you live for days like this one where all of the genius short sellers need to undo their bets or get stampeded. you know what the biggest negative bet is in the market? you know what the bubble bears are saying it is all phony hocum? it is all artificial intelligence. >> we have kari firestone with

. >>> nelson peltz getting fresh support with disney. we have details on the backer. >>> trust, it only gets bigger. >>> plus the bridge collapse in baltimore. they're now turning to a recovery effort. this they're trying to reroute cargo at one of america's busiest ports. >>> and z's ceo sitdown. it's wednesday, march 27th, 2024, and you're watching "worldwide exchange" right here on cnbc. ♪ >>> good morning, welcome to "worldwide exchange. let's get a check of the u.s. future we're taking aing loo. we're seeing the market and the premarket in the green across the board. it looks luke the dow i would open up just about 41 points higher the s&p and nasdaq, 30% higher in the futures market as well. you see in the red, markets for the week, week to date, looks like the dow is down half a percent, the% is down over that. the nasdaq the hardest hit as we talk about this, the losses, there's a number of s&p 500 companies that are hitting 52-week highs. that includes a lot of popular names. netflix, disney, domino's pizza, general motors, and

the proxy fight, nelson peltz seeking a seat.ge lucas supporting bob iger. sold lucas to the company back in 2012. it was half cash, half stock. you got some 37 million shares. not sure how many he continues to hold, but would make him one of the larger shareholders if he's anywhere near that level. larger, in fact, than pearl md der. what they're claiming as their overall $3.5 billion investment in the company. >> what's the stock done since nelson decided that bob iger is not doing a great job? >> depends where you measure it from. >> we had jeff sonnenfeld on. he talks about nelson being a net destroyer. sorry. i'm not going there. i just think that's wrong to say, because you have to talk about what he does in the board room and whether he helps in the board room. that's why i thought the jim stewart piece was so good. >> a very positive piece for peltz. the jim stewart piece in the times. >> one of the most thoughtful journalists of our time. >> he's written some really good books. i'll tell you that much. >> lucas told cnbc

disney says peltz's per tspectie is showing why he should not be allowed on any kboard.rank. >>> thank you. coming up on "worldwide exchange," the one word that investors need to know today and then the growing chip pressure on trying to get companies to china. >>> and later, what could be the chip sector's best quarter in 20 years. the names set for a breakout and others may have run up too far too fast we have a very busy hour when "worldwide exchange" returns stay with us ontario has all the partners you need to make the electric vehicle of the future. with one of north america's largest i.t. clusters. 65,000 stem graduates per year. and all the critical minerals to make electric vehicle batteries. ontario. your innovation partner. business. it's not a nine-to-five proposition. it's all day and into the night. it's all the things that keep this world turning. the go-tos that keep us going. the places we cheer. and check in. they all choose the advanced network solutions and round the clock partnership from comcast business. see why comcast business powers more small b

do you think about nelson peltz's record?t at procter & gamble, at invesco or wendy's as far as the term is not that great relative to benchmarks, but i think that's hard to look at that. so much that goes into something like that. i think you look at the situation here, and i think this is a board that real estately could really could use a shareholder voice. >> i guess bob iger is a big shareholder. a lot of his net worth is wrapped up in this. i guess the question becomes from the company, and i can understand this to some extent, when you have such a bitter fight, the time and the attention it takes away from management's attention to be launching attacks like this, to be fighting them off, and then how productive is that relationship going to be once you had this scorched earth on both sides? >> first, the -- i think the whole time and attention and distraction, as somebody that has followed activists for so long, it bothers me when bob iger is using the word distraction. this is a shareholder of a company that has been

i wouldn't mind peltz as well because he'll hold management's feet to the fire.imon, it's one director doesn't make a difference out of 13 but it does. and it can make things difficult for your management team. i would offer that up in terms of things i've been hearing as well when it comes to bob iger's view of peltz and ike perlmutter who's the main owner in the tryann ownership stake. and there's perlmutter, they don't get along at all. they're at odds with each other in a significant way. it's well known that iger would view any representation of perlmutter on that board negatively. such that has at least and again to the risks that mr. dimon brings up, one risk would be would bob iger say i'm out of here and choose to actually exit his position as ceo. that, leslie, is a possibility here should tryann prove successful. we have a ways to go yet to see what happens here and those large shareholders, you know, having covered these battlies i the past is important. >> i can't think of a time that dimon or any other large bank ceo has weighed in on these proxy fa

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 analyst price target on the street. barclays, is right does disney shares go higher from here? tim, what do you think shareholder tim, what do you think? >> i think there is a valuation argument that it should go higher and there's an ability to play the sum of the parts. the entire tailwinds and i know that sounds crazy and it's not just netflix you certainly heard disney and their ability to control costs and the profitability of the business is still a very big deal and a big driver for the stock, but i think if you look at the core drivers for the company and how the investor community is coming about, i would say this

nelson peltz is not pushing the needs.kwells people either pretty important. >>> up next, apple under investigation. talking about that the doj and now the eu ouing to talk to top analyst abt the stock. we'll be right back. they're waiting for you. hey, do you have a second? they're all expecting more. more efficiency. more benefits. more growth. when you realize you can give your people everything, and more. thank you very much. [applause] ask, "now what?" here's what. you go with prudential to protect, empower and grow. with everything you need to deliver, you guessed it... more. one more thing... who's your rock? learn more at prudential.com the all new godaddy airo helps you get your business online in minutes with the power of ai... ...with a perfect name, a great logo, and a beautiful website. just start with a domain, a few clicks, and you're in business. make now the future at godaddy.com/airo ontario has all the partners you need to make the electric vehicle of the future. with one of north america's largest i.t.

it does say how much they don't want peltz on the board, to some degree, but you know what?re are things that are happening, but i think they're happening faster than we thought, and that is what i say. peltz is an accelerant i don't know whether he makes the board or not, but he has been a lot behind a rally that i think the company would say had nothing to do with him, and i'm taking issue with that >> interesting ubs was at $120. they go to $140, as you said on monday, barclay's went from $95 to $135. >> people are buying into it what happened last time was when peltz was going to the boards, he called us and said, listen, he's done, stock went from $1$15 to $80 i'm concerned, because when -- if you're taking up $2 billion more in costs, maybe do that slowly if you're trying to get a transition going, maybe you do that more slowly so, i think that this is a mixed blessing again, i think the company would like to say peltz has nothing to do with it cramer, go away. but i did read jim stuart's piece this weekend in "the new york times," and i did not feel that peltz has not

on the other hand, you got a stock that's been red-hot, and maybe that's peltz.t'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 arguments to be made. obviously, they are in the midst of a seminal transition until

peltz himself and former disney cfo jay very sue low.could happen this time next week is rich greenfield. this is, like, teeing up to be -- >> drama. liz: oh, my, you know, dallas meets yellowstone or something. meets hollywood. what do you think is going to happen? >> rook -- look, i think at the end of the day you're going to see -- maybe i should even step back with, liz. what's been sort of amazing is that when iger came back in to disney, he was pretty clear. things were worse than he thought. 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 ac

and james rmgoan on the proxy battle between the media giant and nelson peltz nice to meet ya.y name is david. i've been a pharmacist for 44 years. when i have customers come in and ask for something for memory, i recommend prevagen. number one, because it's effective. does not require a prescription. and i've been taking it quite a while myself and i know it works. and i love it when the customers come back in and tell me, "david, that really works so good for me." makes my day. prevagen. at stores everywhere without a prescription. norman, bad news... makes my day. i never graduated from med school. what? but the good news is... xfinity mobile just got even better! now, you can automatically connect to wifi speeds up to a gig on the go. plus, buy one unlimited line and get one free for a year. i gotta get this deal... that's like $20 a month per unlimited line... i don't want to miss that. that's amazing doc. mobile savings are calling. visit xfinitymobile.com to learn more. doc? >>> s&p all time closing high, 52.41, not too far away. and futures say we'll make a step ithn at

influential shareholder firm iss backing nelson peltz.y general jonathan kanter will be our special guest. we're going to ask him about the apple antitrust case and much more. we're coming right back. dude, what're you doing? i'm protecting my car. that's too much work. weathertech is so much easier... laser-measured floorliners up here, seat protector and cargoliner back there... nice! out here, side window deflectors... and mud flaps... and the bumpstep, to keep the bumper dent-free. cool! it's the best protection for your vehicle, new or pre-owned. great. but where do i---? order. weathertech.com. sfx: bubblewrap bubble popped sound. glp-1 drugs used in weight loss treatments stand out as the biggest global blockbuster, but these treatments require cumbersome injections. with lexarias patented oral delivery technology, early studies suggest a better way. lexaria bioscience. ♪ ♪ early studies suggest next.ter way. next. stop. we got it? no. keep going. aga... [ sigh ] next. next. if you don't pick one... oh, you have time. am i keeping

what happens if peltz is elected to this board by the shareholders.rk with that? >> it's a dripping faucet. it's a big distraction. his big tool is not financial returns. he's a net destroyer of value, so he gets away with can be charming at times as we all know, but he gets away with bullying and bravado, and a lot of bluster, but despite that locker room talk, that's what a board has to put up with. so they try to create somebody at one company, at mondelez they created an alternative ceo to absorb his time and attention. you talk to people on the board of say procter & gamble, which did do well while he was on the board, and that's despite him. that's because he suggested moving the headquarters from cincinnati, and they asked him why, he said i don't know. he said we should move m&a down to the division level. he had no suggestions. already the company was on the right course and he was on the coat tails of that. same at pepsi co. they did well by not listening to him. he wanted to break up international pepsi from domestic pepsi. what a cooky ide

morgan shareholders vote if nelson peltz gets a seat stock is up.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 answers that question. the senate passed the 1.2 trillion dollars

this stock has been a horror show for ages and the board hadn't been doing its job until nelson peltzke out costs now the stock's flying almost a straight line from 88 to 119 amazing how much better the board can do when someone concentrates and held their feet to the fire. the changes are good disney's costs were too high 5.5 billion in costs, down 7.5 billion. the board didn't seem to have a lot of haem on themselves to find a new ceo or they wouldn't have invited the old ceo back. the board's job is to have a succession plan. they need to cut costs and come up with a solid succession plan for bob iger they hate the notice that nelson peltz is joining the board that's why the stock 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

i think there's so many things that are just rolling in iger and the disney board's favor with peltzing, 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 pay tv, and those difficulties, the cord cutting, that's not going away. the movie business is more d

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

i've done a pretty deep dive into nelson peltz track record at previous companies. the video said he's been destructive to value in other companies where he's been on the board. they've released figures that show that the -- since when peltz goes on the board when they leave shares gain roughly 17% on average. substantially higher of the s&p over the period this is was formed. >> why do you think disney has taken this strident approach? >> well, >> well, i think there are a number of reasons here. first of all, i think, you know, no company -- and by the way, when i have talked to a lot of these people when he's been there, none of them were happy when nelson showed up as a shareholder. you know, management wants to continue their plans. they want a board that pretty much goes along with whatever they have to say, and they don't want someone barging in, asking tough questions, and then, by the way, taking credit in some cases for what they said they were going to do anyway. i think that's just human nature. but this goes a little farther than that. i think disney --

with nelson peltz. truly an enemy of my enemy is my friend. it's friday, march 1st, 2024. finally march. it felt like we were in february forever. "squawk box" begins right now. >>> good morning. welcome to "squawk box" here on cnbc. we are live from the nasdaq market site in times square. i'm becky quick along with joe kernen and andrew ross sorkin. here we go. it is friday. if you are checking out what is happening with the u.s. equities, let's look at this hour. you see there are red arrows. dow futures off 75. nasdaq down 20. s&p down 10. this is for the first trading day of the month. it does come after the nasdaq notched the first record close since november of 2021. it was up .90%. it wasn't the only index to set a record. s&p was up, too. the 14th record of the year. the dow broke a three-day losing streak and trading off .75%. nasdaq 100 set a record yesterday. if you look at treasury yields on this first trading day of march, you see the ten-year yielding 4.227. two-year yield at 4.58. >>> and congress passed the short-term funding bill sending it to president bi

. >>> disney turning up the heat with the proxy battle with nelson peltz. here is part of the ad. >> what is the harm of letting nelson peltz have a seat on disney's board? the answer is simple. if they succeed, disney could suffer the same fate as other great companies peltz infiltrated such as ge and dupont. nelson attacks companies to the shareholder value detriment. >> the video also criticizes peltz's board nominee saying he was a former disney employee which was passed over for a row mo promotion a decade ago. the presentation was long on as aesthetics and excuses. >>> you want to talk about that? >> no, it is interesting to see it. >> what do we do? >> the bigger question i would ask is on the nelson peltz front, he sold shares in the company in the past couple months. if you are an activist investor and trying to demonstrate to the world that you are committed to the company, you shouldn't be selling shares in the hidmiddle the proxy contest. >> how much does he have left? >> 6 million. >> i asked that question yesterday. 0.001 is enough to amount t

. >> in early 2021, this was a $200 stock if you can get nelson peltz -- if you can get nelson peltz the board to have some synergy to cooperate on good vision for this company, why can't it go back to that >> i think -- >> well, why is iger still 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 t

three years later, nelson peltz is no longer sorry., peltz recently hosted trump and other billionaires including elon musk at his palm beach mansion. he told the financial times he now plans to vote for trump. billionaire real estate developer robert bigalow said trump had lost him as a supporter and he showed he was no commander. now according to reuters, he has already given $1 million to pay trump's mountain of legal bills and pledged to give 20 million more to a pro trump campaign group. eric levine has also reversed course. due to a dramatic change in circumstances i have decided i will vote for trump in november. joining me now is the president and cceo of the championship conference. and michael schmidt with the new york times. just wow is all i have to say. michael schmidt, what is the import here and the sort of grander scheme of things of these millionaires? making a u-turn? >> i was fascinated by this. who are these people but how did they get to this point? how do you go from the per spect perspectives on january 6th. i ca

there is the shareholder meeting coming up and nelson peltz is attacking thiscompany.l happen there? >> i think bob iger wins this one hands down. i don't think -- nelson 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 m

so is nelson peltz the solution to this corporate governance problem?ink he will shake things up a bit. again, he may end up agreeing with the strategy. maybe in the end he says this is the right thing. the point is, you need an outside voice, and outside, active voice to look at it and raise the important questions that need raising here without fear of the ceo saying you're no longer on the border i would like you to leave. which is a concern at many companies where you have a very dominant ceo. i think the fact that he could ask the right questions, he's obviously well-prepared for this, he's been on other significant boards, and generally when he has shown up, things have turned out. in the end, this strategy for the pond was eventually what the company did. so he wasn't that far off. he and the ceo, oddly enough became pretty good friends. the point is that you need someone to ask the right questions to shake out, if you will, the dogma of the board to force re-examination. once that happens, i think the board itself begins to open up and get refre

peltz told the financial times he now plans to vote for donald trump .tate developer robert bigelow said after january 6th that trump had lost him as a supporter, and that he had showed that he was no commander. now, according to reuters, bigelow has already given $1 million to help pay trumps a mountain of legal bills and pledged to give 20 million more to a pro-trump campaign group. eric levine, a wealthy nikki haley donor who after january 6th pledged he would never vote for donald trump again has also reversed course, saying, due to a dramatic change in circumstances, i have decided i will vote for trump in november. joining me not to discuss this is maia wiley, president and ceo of the leadership conference on civil and human rights, and michael schmidt, investigative reporter the new york times. just, wow is all i have to say. michael schmidt, what is the import here and the grander scheme of themes of these billionaires making such a public u-turn? >> i was fascinated by this. who are these people? how did they get to this point? how do you go fro

nelson peltz, it helped spotify turn around their subscription package.helpful. charles: whether peltz wins or not, management knows they're on notice. they should turn it around. they should, they have all the pieces, this was a stock, 1978, a lot of -- 197, not long, it was nine year long. less than a minute to go. stanley works,. >> stanley black & decker. you've got tools, turn around in the inflation reduction act, construction coming back, new homes. charles: you have the construction issue. >> why is thing down 55%? they over inventoried during covid. they worked down the inventories. they have management in place to take two billion dollars of cost out of the business. charles: same management team? >> they are ahead of schedule. they taken one billion out. they have two billion by 2025. that is 13 bucks a share. that put as 200 handle on it. it is like a 90-dollar stock. it will take, 24, 36, 48 months, but 50, 100%, returns over two, three years is a good thing. charles: all right. a breath of fresh air to talk about owning a stock for more than

stuart: billionaire activist investor, nelson peltz, he says he's going to vote for trump.called biden's mental condition really scary. good morning, todd. i'm surprised that a hard-bitten wall street guy would come out to forcefully for trump. >> i'm not, and the reason is you have to distance yourself from the wall street thing. he's viewing this election like so many people that are on the fence. one, very, very worried about joe biden's mental capacity. two, the litany of charges against trump are actually backfiring because they view it as a miscarriage of justice. and, third, the third thing that pelts said, degrading country right now because of what joe biden did at the border. those three things are not just for billionaires, they're for everybody who's on the fence when it comes to this election who hasn't made their decision yesterday. that's why joe biden's in trouble and why he needs billions upon billions of dollars to try to craft a different message, because people see what a's actually happening out there, not just billionaires. stuart: the i was surprised

>> will it does because >> of which particular billionaires it was just three years ago, the peltz saidy 6 capital was a disgrace and that he was sorry, heating ever voted for donald trump. now he tells the financial time, so probably vote for him in november. he's not the only one. there are also a handful of other billionaires according to the washington post and their new report, who are coming around on trump quietly throwing their support, but more importantly, their money behind the former president i want to bring in cnn political commentator van jones, who worked in the obama administration and cnn's senior political commentator, scott jennings, who is a senior advisor to mitch mcconnell. and it's got i just speak to the moment of, you know, what we're watching this political comeback of donald trump's yeah, it's pretty remarkable actually, but i hate to break it to you guys. it's not just billionaires. i mean, if you look at the polling on what people say, whether they approve of donald trump's job versus joe biden's job in office. donald trump is in positive territory. people

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

which is finally roaring because the board of directors wants to find -- fight off techcheck -- nelson peltz. western digital has actually been a money loser of late but you want to be in the stock when it flips. it is like micron but with a weaker portfolio and finally once again, there is eaten, the online industrial that is focusing on the energy transition. we need the transition if we are going to be what larry fink calls pragmatic about our energy. you want to manage your energy in a responsible way and that is what eaton allows you to do. that is what we will discuss from the investing club convenes tomorrow. you can say wait a second, there is too much tax. i could point out wells fargo or the retailers. more on those later. how about ralph lauren? then there is the run we got from mccormick today, the spice company. it joins hormel and general mills with an upside. that rallied more than 10%. food stocks, i thought you told me they were dead, jim cramer. no, i never said that. or, how about supposedly? right now their average store is doing a little over $3 million per year but typi

the activist nelson peltz is taking a similar woke argument to the disney board room, he wants to winvote 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 that's right for him. let our expertise round out yours. everywhere but the seat. the seat is leather. alan, we get it. you love your bike. we do, too. that's why we're america's number-one motorcycle insurer. but do you have to wedge it into everything? what? i don't do that. this reminds me of my bike. the wolf was about the size of my new moto

the ongoing issues with certain investors trying to push back on nelson peltz in particular. overall this is a company looking to be responding overall. jamie dimon is backing bob iger in a proxy battle. but thus 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 li

. >> still in the peltz camp firmly? >> i believe in truth and reconciliation.ays have. >> truth and reconciliation. >> i want to know what the truth is and how to reconcile it. >> they were out with their white paper today, or late yesterday. >> you see the number of days you've done well if you bought the stock versus not? >> the chart of red squares? >> was that a great chart. >> bob iger did tell -- he did really well. you've got to hand it to the guys. everybody who worked there did great. >> my travel trust owned it. i helped fund that greatness. >> the white paper itself obviously does go into some detail about the board oversight. there's a lot of what, but not a lot of how. when you look at -- >> when you look at triann when they went after dupont, when they went after p&g. spend more on ads, none of that is in this. >> i spoke to johnson and hines. i spoke to dupont, proctor over the years. they all thought he was incredibly valuable. >> my point is they came in with a real plan there in terms of execution and operations as opposed to hear where it's s

i don't know nelson peltz. >> nelson peltz wrote that. >> he might claim he did. >> oh, my god! >> we haven't talked about iger's extreme confidence now in 24 streaming profitability. >> it's extreme. >> the moffett note today. >> yesterday came out the stock jumped a quarter that the quarter is going to be good. he's been saying that. >> he has been saying it for a while. >> a lot of things he said at morgan stanley are things he said previously including even talking about -- there you see sort of in terms of the parks and the parks performance and then even talking -- and raising, you know, free cash flow guidance as well. that was important the stock, though, well it was during the trading day yesterday. it was it was 1:15 eastern. he also talked ability netflix getting their technology up at disney plus to a level that approximates what netflix is able to in terms of being able to cut marketing spend keep customers easily because they have better tech. >> addresses the last 20 pages of the mystery tour of nelson. did you read bring the magic back the last 20 pages this is h

. -- is giving nelson peltz control over his shares. he was part of the marvel transaction.casfilm's class action to disney. those were two different ip empires that really drove the success of disney. and now both on different sides of this. >> all right, we will see how the voters weigh in on this. julia, thank you so much. >>> we are about 30 seconds ahead of the close. the s&p 500 on the verge of a potential new closing all-time high. 5176, the prior high was one week ago, just above 5175. you have pretty decent market -- majority are up-to-date, even as you have some thing -- bond yields. [ inaudible ] we will hear from powell tomorrow. that will do it for closing bell. we will send it into closing time with morgan and john. >>> stocks settle here. it looks like we are getting a record close for the s&p 500, 5178. if it stays this way, ahead of tomorrow's fed interest rate decision, that is the scorecard on wall street. that action is just getting started. welcome to closing bell over time i am --. >> -- and video having -- after an ounce thing ai chips.

divisions as disney is embroiled in a bitter proxy fight with billionaire activist investor nelson peltz. 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.

. >>> nelson peltz getting fresh support with disney. we have details on the backer. >>> trust, it only gets bigger.

me how about that >> this is the highest price for disney since august of '22 >> look, you know, is peltzny time you have someone saying, you guys better start making more money, the tendency is to think, wow, we got to find ways to make money they got $5 billion in costs to $7.5 billion they have a lot of fat that there's $7.5 billion to find that's a lot of fat. but then i'm reminded that fedex, with its drive business, its drive restructuring, has found just a huge amount of fat. fedex has done very well without any revenue growth >> well, this is mike wilson's big point over the weekend at morgan stanley looking at operational efficiencies >> yes >> trying to offset the tightness of front end rates, which will drive margins higher, which he thinks could lead to higher earnings revisions at the index level. >> i agree with that we had a lot of companies, you know, opco raised its price target for the s&p they said it could be 22 times earnings versus 21.7, whatever that's just margin expansion >> john goes to 250 s&p. >> i think the margin expansion is uncanny these companies are so go

, bob iger, of course, he's getting some support in his fight against the activist investor nelson peltz's huge. so disney bought his lucasfilm back in 2012. that makes him one of the biggest disney shareholders and, obviously, we can't understate his stature in hollywood. "star wars," indiana jones. he says no one knows disney better than bob igerer. stuart: that's big support. how many millions shares has he got? 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

peltz camp with egan jones for those reading the reports. we'll see. we haven't heard much onthe institutional side. >> thr with a tough pete titles iger's era of invincibility is over, that the board is going to take a firmer stand during this second run >> it was a good article and got into the woke stuff that hasn't entered the proxy vote but is part of the discussion >> quarter end tomorrow. let's get to the judge >>> all right, carl, thanks so much welcome to "the halftime report." i'm scott wapner front and center this hour, the rally soon to be five months and counting the debate now how long can it last we'll ask the investment committee the key question joining me joe terranova, kari firestone, steve weiss and sarat sethi. a modest loser a lot of talk whether the rally is waning as this quarter month comes to an end. our delivering alpha investor survey from cnbc, do you think the market has run too far too fast two-thirds, yes, we're in for a pullback do you >> i think everyone thinks we've run too far too fast i was in a morgan stanley compl

in a new interview, billionaire investor nelson peltz criticized disney's diversity efforts.like the one he was in, though. [ laughter ] finally, mcdonald's announced a new partnership with krispy kreme to offer donuts at the fast food chain, because if you love mcdonald's and you love krispy kreme, you don't have the energy to make two stops. [ laughter ] and that was the monologue, everybody. [ cheers and applause ] we've got a great show for you tonight. she's a emmy nominated actress you know from "saturday night live" and "schmigadoon!." she's currently starring in "brooklyn laundry" at manhattan theater club stage one. our friend cecily strong will be here. [ cheers and applause ] he's a talented actor starring in "the idea of you" on prime video. his new show, "mary & george," premieres on starz in april. nicholas galitzine will also be joining us. [ cheers and applause ] and they are the very funny stars of the hit british comedy show, "taskmaster." their 17th season will premiere in the u.s. tomorrow on the taskmaster youtube channel. greg davies and alex horne are j

in 2012 saying he backs disney and ceo bob iger in the proxy battle with activist investor nelson peltzte, full faith and confidence in iger's track record of driving long-term value with disney, and he voted 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 j