CNBC Daily Open: Disney wins agency battle | Wilnesh News

On October 30, 2006, Robert Iger, President and CEO of The Walt Disney Company, announced that he and Mickey Mouse would donate $5 million to the Children’s Hospital of Los Angeles for a new hospital building.

Bob Leha Jr. | Archive Photo | Getty Images

This report comes from today’s CNBC Daily Open, our international markets newsletter. CNBC Daily Open keeps investors updated on everything they need to know, no matter where they are. Like what you see?You can subscribe here.

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South Korea leads Asia
South Korea dominates Asia-Pacific stocks rose on Thursday, with markets in Hong Kong, China and Taiwan closed for public holidays. The Nikkei 225 index rose 0.81% and the Kospi rose 1.45%.this Dow Jones Industrial Average Intel fell for a third straight day, falling 0.11% to $39,127.14, weighed down by a more than 8% plunge after the company reported an operating loss at its semiconductor manufacturing business.this S&P 500 Index It finally rose 0.11% to 5,211.49 points, marking the first rising trading day this week.this Nasdaq Index It finally rose 0.23% to 16,277.46.

please provide more evidence
Federal Reserve Chairman Jerome Powell said on Wednesday that policymakers will need more time to assess inflation, suggesting the timing of any potential rate cuts remains uncertain. Hedge fund managers Steve Cohen and David Einhorn said it will be difficult for the Federal Reserve to reduce inflation to its 2% target. In fact, Einhorn increased his gold position in anticipation of rising inflation.

Tech layoffs
Amazon’s cloud computing unit said on Wednesday it would lay off hundreds of employees at its physical stores., technology and sales and marketing departments. The unit’s sales growth has declined in recent quarters as the company has cut spending on cloud computing.The layoffs come as Amazon confirms it will abandon unmanned checkouts at U.S. grocery stores

Half done
Henry V. HcVey, head of global and macro asset allocation at KKR, said in a note released on Thursday that China’s real estate problems may be far from over and that industry issues need to be resolved quickly to bring overall GDP back up. Growth picked up significantly. investment company.

Yellen in China
U.S. Treasury Secretary Janet Yellen is due to arrive in China on Thursday for four days of meetings with Chinese officials, her second trip to China since the summer. US Secretary of State Antony Blinken will also visit China again later this year.

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A Tesla short seller has named two auto stocks that he believes have the potential to provide investors with 100% upside.

bottom line

So in the end Disney Won the fight against activist investors.

Disney shareholders on Wednesday reportedly spent $40 million in a battle with Nelson Peltz-led Trian Partners and former Marvel CEO Ike Perlmutter. The company’s full board of directors was elected at the Home Media Group’s annual general meeting.

Things weren’t that close. Pelz lost by a wide margin in his effort to oust director Maria Elena Lagomasino.

Although Peltz presented Disney management with a strategy for the company’s streaming business, he failed to convince shareholders that he had a solid replacement plan.

Still, some of the claims Peltz made hold some water, including questioning Disney’s search for a second successor to CEO Bob Iger. Iger returned as CEO in 2022 after Bob Chapek was fired.

However, Peltz is not leaving, as Trian Partners owns 1.8% of Disney.

Attention will return to the challenges Disney faces in its streaming business and how it will reinvigorate ESPN, as well as the question of Iger’s successor.

—CNBC’s Alex Sherman, Rohan Goswami and Sarah Whitten contributed reporting.