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☆ Greg Abel looks like perfect 'sequential partner' to follow Buffett, says Neuberger's Dan Hanson
▼ + stars: | 2024-05-04 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailGreg Abel looks like perfect 'sequential partner' to follow Buffett, says Neuberger's Dan HansonBerkshire Hathaway Chairman and CEO Warren Buffett presides over the 2024 Berkshire Hathaway annual meeting. Dan Hanson, Neuberger Berman senior portfolio manager, speaks with CNBC's Michael Santoli about his takeaways from the 2024 Berkshire annual meeting.

Persons: Greg Abel, Buffett, Neuberger's Dan Hanson Berkshire, Warren Buffett, Dan Hanson, Neuberger Berman, CNBC's Michael Santoli Organizations: Neuberger's Dan Hanson Berkshire Hathaway, Berkshire Hathaway Locations: Berkshire

The Justice Department is expected to announce the indictment of longtime Rep. Henry Cuellar, D-Texas, on Friday, two sources familiar with the matter told NBC News. It wasn't immediately clear if the indictment was related to the 2022 raid. A year after the raid — which had not previously yielded arrests or charges — Cuellar told the Texas Tribune: "There has been no wrongdoing on my part. Despite the raid, Cuellar narrowly defeated a progressive challenger, Jessica Cisneros, in his 2022 primary and went on to win re-election to his seat that November. A member of the centrist Blue Dogs and New Democrat Coalition, Cuellar was first elected to the House in 2004.

Persons: Henry Cuellar, Cuellar's, Joshua Berman, Cuellar, — Cuellar, Jessica Cisneros, Cassy Garcia Organizations: NBC News, Congressional Azerbaijan Caucus, Texas Tribune, Texans, Republican, Cuellar, Dogs, New Democrat Coalition Locations: Texas, Laredo , Texas, Azerbaijan, U.S, San Antonio

☆ ISS says unions and pension funds should back Norfolk Southern activist investor
▼ + stars: | 2024-05-02 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +4 min

Norfolk Southern Chief Executive Alan Shaw testifies during a Senate Commerce, Science and Transportation Committee hearing titled "Improving Rail Safety in Response to the East Palestine Derailment" in Washington, U.S., March 22, 2023. Norfolk Southern -invested unions and pension funds should back activist Ancora's full seven-director slate at the railroad's shareholder meeting later this month, two different Institutional Shareholder Services proxy advisory services said. Neuberger Berman said earlier that it would support Ancora's case for change at Norfolk Southern, while Canadian asset manager EdgePoint also reaffirmed on Thursday that it would be voting its shares with the activist. (EdgePoint was initially partnered with Ancora's campaign at Norfolk Southern but dissolved that arrangement months earlier.) Top institutional shareholders include Vanguard, BlackRock, State Street and Dodge & Cox, as well as California's pension funds, CalPERS and CalSTRS, and Colorado's public pension fund.

Persons: Alan Shaw, Ancora's, Taft, Jim Barber, Glass Lewis, Barber, investor's, Ancora, Neuberger Berman, EdgePoint Organizations: Norfolk Southern, Commerce, Science, Institutional, Hartley Advisory Services, Social Advisory Services, CNBC, UPS, ISS, Norfolk Southern's, Norfolk, Vanguard, Dodge, Cox Locations: East Palestine, Washington , U.S, Norfolk, East Palestine , Ohio, BlackRock

☆ Yen's 'momentous move' means Japanese government is likely to have intervened: Portfolio manager
▼ + stars: | 2024-04-30 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailYen's 'momentous move' means Japanese government is likely to have intervened: Portfolio managerKei Okamura of Neuberger Berman discusses what might be behind the currency's recent surge.

Persons: Kei Okamura, Neuberger Berman

☆ How to start a lucrative side hustle, from 4 people who've done it: ‘You can be more successful than you think’
▼ + stars: | 2024-04-30 | by ( Megan Sauer | ) www.cnbc.com time to read: +5 min

"I think you can be successful with more side hustles than you think," Cody Berman, who co-runs online printables course Gold City Ventures, told CNBC Make It in January. In seventh grade, she started selling leggings for teen girls who couldn't afford larger, trendy brands. Bella Lin, 17, started a side hustle to give her guinea pigs more quality of life. Your ability to stay up-to-date on industry trends and audience demographics can affect your earnings over time, Etsy seller Tim Riegel told Make It last year. Riegel started his side hustle — making and selling steel fire pits — in 2021.

Persons: Cody Berman, Bella Lin —, Bella Lin, Lin, you've, Tim Riegel, Riegel, Becky Powell, Powell, Becky Powell's, —, Morgan Eckroth Organizations: Gold City Ventures, CNBC, Onyx Labs, YouTube, Barista Locations: Gold, Beaverton , Oregon, Portland , Oregon, U.S

☆ The Fed has to 'thread the needle pretty carefully' this week, says Neuberger Berman's Joe Amato
▼ + stars: | 2024-04-30 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe Fed has to 'thread the needle pretty carefully' this week, says Neuberger Berman's Joe AmatoJoe Amato, Neuberger Berman president and CIO, joins 'Squawk Box' to discuss the latest market trends, what to expect from the Fed's policy meeting this week, interest rate outlook, and more.

Persons: Neuberger Berman's Joe Amato Joe Amato, Neuberger Berman

☆ As pro-Palestinian protests sweep college campuses, student journalists are rushing to the big story and exams
▼ + stars: | 2024-04-26 | by ( Hadas Gold | Liam Reilly | ) edition.cnn.com time to read: +4 min

Smith is editor-in-chief of The Lantern, Ohio State University’s student-run newspaper, which has scrambled in recent days to cover pro-Palestinian protests roiling the campus. It’s also finals week, and in the coming days the newspaper’s staff will transition to the next year’s staff. And, for many of these student journalists, it’s becoming a seminal moment in their nascent careers. “Given that we’re student journalists, we know the campus and the students here. As pressure mounted on campus, the newspaper mobilized a handful of writers who worked together to cover the protests.

Persons: Arianna Smith, Smith, It’s, ” Smith, it’s, “, We’re, we’re, Anjali Patel, ” Patel, “ We’re, Amelia Kimball, Kimball, Greg Abbott, ” Kimball, CNN’s John Berman, ” Organizations: CNN, Ohio State University’s, Ohio, ”, University of Southern, The Daily, USC, Daily, University of Texas, The Daily Texan, “ Locations: Gaza, Columbus, University of Southern California, Austin, Texas

☆ Teamsters union endorses activist Ancora in Norfolk Southern proxy fight
▼ + stars: | 2024-04-25 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +3 min

Activist Ancora on Thursday won the support of the BMWED Teamsters in the investor's efforts to oust Norfolk Southern CEO Alan Shaw and a majority of the railroad's 13-person board. The labor group said it would back the activist's seven director nominees over Norfolk Southern management, a significant endorsement in an industry unusually dependent on union support. The support from the BMWED Teamsters, whose members build and maintain the track infrastructure that keeps Norfolk Southern trains moving, amounts to a sharp rebuke of Shaw and Norfolk Southern's board. Norfolk Southern and Ancora have been locked in a proxy contest for several months. Neuberger Berman, for example, is backing the activist and said that Norfolk Southern had a history of poor governance and that a boardroom change was needed.

Persons: Ancora, Alan Shaw, Shaw, Tony Cardwell, Cardwell, Jim Barber, Jamie Boychuk, Boychuk, Barber, It's, John Orr, Glass Lewis, Neuberger Berman Organizations: Thursday, Teamsters, Norfolk Southern, Norfolk, BMWED Teamsters, Labor, American Federation of Labor, Industrial Organizations, CSX, Ancora Locations: Norfolk Southern, Norfolk, U.S, East Palestine , Ohio, Washington

☆ New federal rules on airline refunds require cash instead of vouchers
▼ + stars: | 2024-04-24 | by ( Gregory Wallace | ) edition.cnn.com time to read: +4 min

New federal rules say travelers deserve cash refunds when inconvenienced by their airline – not vouchers or travel credits. The rules require the fees to be automatic and prompt: Within seven days for a credit card refund and 20 days for other forms of payment. Surge in complaints in 2022The Biden Administration proposed its change to the refund rules in 2022 after a surge in complaints about refunds when the coronavirus brought air travel to a standstill. More than half of the complaints involved flight disruptions or refunds. A federal law allows Congress to unravel recently implemented executive branch rules.

Persons: “, Pete Buttigieg, CNN’s John Berman, ” Buttigieg, you’re, “ That’s, ”, There’s Organizations: CNN — Airline, ”, Transportation Department, Airlines for, Biden Administration Locations: –, Airlines for America, ” “ U.S, Washington, November’s

☆ What happened to Robert Durst? The convicted killer died years before 'The Jinx' Part 2.
▼ + stars: | 2024-04-20 | by ( Caralynn Matassa | ) www.businessinsider.com time to read: +5 min

After 'The Jinx' ended, Durst was finally charged with Berman's murder and convicted in 2021Durst in prison. AdvertisementTwo days after his arrest, on March 16, 2015, Durst was officially charged with Berman's murder. Two months later, on September 17, 2021, Durst was finally convicted for Berman's murder and later sentenced to life in prison without the possibility of parole. Weeks later, Durst was also indicted in the 1982 murder of his wife. But that case never made it to trial because Durst died in January 2022.

Persons: —, Robert Durst, who'd, Durst, Kathleen McCormack, Susan Berman, he'd, Berman, He'd, Morris Black, Black, Jon Stewart, Seymour Durst, Andrew Jarecki's, McCormack, wasn't, Berman's, didn't, Weeks, Chip Lewis Organizations: Service, HBO, Authorities, Business, New York Times, Los Angeles County, Prosecutors, The New York Times, San Joaquin General Hospital Locations: York, Beverley, Los, Stockton , California

☆ As India heads to the polls, the pros name 8 top stocks to buy
▼ + stars: | 2024-04-19 | by ( Amala Balakrishner | In Amala-Balakrishner | ) www.cnbc.com time to read: +6 min

"The stars have aligned for India in terms of demographics, population and market movements. Peeyush Mittal, portfolio manager at Matthews Asia, agrees with the consensus that Modi will win a majority once again — which would be a "non-event" for markets. Conrad Saldanha, portfolio manager at the Neuberger Berman Emerging Markets Equity Fund, agrees. Among the companies on his watch are power equipment player Bharat Heavy Electricals and engineering conglomerate Thermax , amid an expected expansion in power generation capacity. According to FactSet data, 24 of the 26 analysts covering the stock have a buy or overweight rating on it.

Persons: Narendra Modi, Neil Bahal, Peeyush Mittal, Modi, Mittal, Conrad Saldanha, Neuberger Berman, Bharat, Neuberger Berman's Saldanha, Saldanha Organizations: South, Bombay Stock Exchange, CNBC Pro, —, Matthews Asia, Reserve Bank of, India Fund, Neuberger, Markets Equity Fund, Cummins India, Investor, Bharat Electronics, ICICI, HDFC, IndusInd Bank, Apollo Locations: Hong Kong, India, Reserve Bank of India, Saldanha

☆ Expect three rate cuts this year: Neuberger Berman's Kroft
▼ + stars: | 2024-04-15 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailExpect three rate cuts this year: Neuberger Berman's KroftHolly Newman Kroft, Neuberger Berman managing director, joins 'Money Movers' to discuss the market reaction to recent geopolitical events, what clients are most concerned about, and more.

Persons: Neuberger Berman's, Holly Newman Kroft, Neuberger Berman

☆ Women athletes are on fire. See the 13 top investors and fund managers pouring money into the next 'big opportunity' in sports.
▼ + stars: | 2024-04-14 | by ( Tiara White | ) www.businessinsider.com time to read: +3 min

It comes at a time when women's sports generally — from basketball to soccer and even volleyball — are attracting new viewers. Last week's college women's basketball championship game between the Hawkeyes and the South Carolina Gamecocks, meanwhile, snagged more viewers than any basketball — women or men, college or pro — since 2019, ESPN said. It's not just women's college ball that's luring eyeballs. Attendance at US women's pro soccer games increased by 23% in 2023, according to National World Soccer League commissioner Jessica Berman. And that's just the start, according to hedge fund mogul Marc Larsry, who recently declared women's sports the next "big opportunity" for sports investing.

Persons: Big3, Caitlin Clark, Caitlin, Ted Lasso, Jason Sudeikis, Travis Scott, It's, Jessica Berman, Marc Larsry Organizations: University of Iowa, Business, Iowa Hawkeyes, Hawkeyes, South Carolina Gamecocks, ESPN, National World Soccer League, Deloitte, Wall Locations: Nebraska, Silicon

☆ 'We've never seen this many extremes': Strategists warn of dot-com bubble similarities as expensive US stocks struggle — but this 7-part strategy can still outperform
▼ + stars: | 2024-04-13 | by ( James Faris | ) www.businessinsider.com time to read: +7 min

From late October through March, the S&P 500 enjoyed a virtually uninterrupted 27.6% rally based on better-than-expected earnings and economic data. And while it's still well below the dot-com bubble levels, it's still too close for comfort for many investors. Related story"Those higher rates are starting to push back on elevated valuations for stocks right now," Saglimbene said. "They're all much cheaper on an earnings basis than those Magnificent 7 companies," Saglimbene said. "So I think if we avoid a recession this year, the narrative will change to a broadening of companies and sectors that can participate in earnings growth this year."

Persons: aren't, Anthony Saglimbene, Rick Pitcairn, Pitcairn, it's, we've, Raheel Siddiqui, Neuberger Berman, Siddiqui, Jon Wolfenbarger, Albert Edwards, Bill Smead, James Ragan, DA Davidson, Ragan, Saglimbene, Indrani, she's, De, Davidson, Siddiqui's Organizations: Ameriprise, Business, DA, FTSE Russell, Investors Locations: Ameriprise

☆ Robert Downey Jr.'s 'showboating' performances in 'The Sympathizer' are polarizing critics. Here's what reviews are saying about HBO's new series.
▼ + stars: | 2024-04-12 | by ( Palmer Haasch | ) www.businessinsider.com time to read: +7 min

The series follows an agent referred to only as the Captain (Hoa Xuande), who's half-Vietnamese and half-French. Aligned with North Vietnam, he's embedded within the South Vietnam army. Critics have generally praised the series, particularly Xuande's performance and Park's direction (in addition to showrunning duties, he directs the first three episodes). Here's a breakdown of where some reviewers stand ahead of the series premiere on HBO Sunday evening. AdvertisementVariety's Alison Herman says that splitting Downey into parts both "deploys and diffuses" the impact of his celebrity on the series.

Persons: Viet Thanh Nguyen's Pulitzer, Hoa, Critics, —, Viet Thanh Nguyen, Chan, Don McKellar, he's, Robert Downey Jr, Xuande, Hopper Stone, Alan Sepinwall, IndieWire's Ben Travers, Tran Bui, Beth Dubber, weren't, Robert Downey's, Laura Sirikul, Sirikul, Variety's Alison Herman, Herman, Christopher Nolan's, Oppenheimer, Nick Schager, Downey, Sandra Oh, Park Chan, Nguyen's, Judy Berman, Rory Doherty, lauds, Doherty, Inverse's, Fred Nguyen Khan, Duy Nguyen, Sepinwall, IndieWire's Travers, Richard Lawson, Schager, Thanh, Fair's Lawson, Marina Fang Organizations: HBO, Viet Thanh, Service, Downey, Stone, Daily Locations: Viet, North Vietnam, Vietnam, United States, Korean

☆ 'Big Short' investor Steve Eisman details the 4 themes that have him betting on a turbocharged infrastructure boom instead of chasing AI hype
▼ + stars: | 2024-04-07 | by ( Filip De Mott | ) www.businessinsider.com time to read: +4 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read preview2008's housing crash might be long over, but Steve Eisman is not done looking for the next big macro trade. The investor — famous for his subprime mortgage bet, as documented in "The Big Short" — is now eyeing infrastructure as biggest winner of today's conditions. "You take all four of those boxes, and you turbocharge them by the fact that the United States has not had an industrial policy in anyone's lifetime," Eisman said. While Eisman believes in AI and infrastructure, he has no faith in crypto's potential, he said.

Persons: —, Steve Eisman, Eisman, Neuberger Berman —, they've, Eaton, United States — everybody's Organizations: Service, Business, JPMorgan, Apple Locations: United States

☆ ‘Big Short’ investor Steve Eisman is betting big on infrastructure. Here are his top picks
▼ + stars: | 2024-04-05 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

Steve Eisman of "The Big Short" fame has been bullish on infrastructure stocks after studying the industry for the past two years, and here are the companies he likes the most. Eisman, senior portfolio manager at Neuberger Berman, said he has narrowed the universe of investable stocks to 80 stocks. The stocks Eisman passed up included residential solar companies, which already had a great run during the Covid-19 pandemic as major beneficiaries of zero interest rates. Instead, Eisman likes solar panel companies that sell to utilities, which he said are doing well from a fundamental perspective. CRH 1Y mountain CRH PLC Eisman shot to fame by betting against subprime mortgage loans before the 2008 financial crisis, as chronicled in Michael Lewis' "The Big Short" and the subsequent Oscar-winning movie based on the book.

Persons: Steve Eisman, Neuberger Berman, Bloomberg's, Eisman, Michael Lewis Organizations: Eaton Corporation, CRH Locations: Eaton, Ireland, U.S

☆ Norfolk Southern activist investor highlights past abusive behavior of new COO as proxy fight intensifies
▼ + stars: | 2024-04-05 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +6 min

Last month, Norfolk Southern hired Orr away from rival CPKC, paying tens of millions of dollars to buy him out of his contract. A witness told the arbitrator that, in one instance, Orr told the employee that she "was so f------ stupid it was embarrassing." Prior to the announced hiring of Orr, Ancora drew attention to claims about his behavior in emails to two Norfolk Southern board members that CNBC obtained. Norfolk Southern told CNBC in a statement that Ancora's analysis of the value of the route — the Meridian Speedway agreement — "is completely inaccurate and based on a flawed premise," in that it assumes Norfolk Southern is forgoing more revenue than it actually is. Regarding Orr, Norfolk Southern said he has a "track record of improving performance while operating safely and with integrity."

Persons: Ancora, Alan Shaw, John Orr, Orr, Jim Barber, Jamie Boychuk, Shaw, John, Mr, Neuberger Berman, Gordon Haskett, Don Bilson, it's, isn't Organizations: Norfolk Southern, Getty Images, Wall, Canadian National, Canadian, CNBC, Norfolk, Meridian, CSX, Longacre Square Partners, Barclays Locations: Atlanta , Georgia, Getty Images Norfolk, Norfolk, Norfolk Southern, U.S, Orr, East Palestine , Ohio

☆ Disney's Bob Iger has won the long proxy battle against Nelson Peltz
▼ + stars: | 2024-04-03 | by ( Madeline Berg | ) www.businessinsider.com time to read: +5 min

It's a victory for CEO Bob Iger against activist investor Nelson Peltz. AdvertisementDisney CEO Bob Iger has officially prevailed in his battle against activist investor Nelson Peltz. Disney had been expected to prevail in the Peltz proxy battle. AdvertisementThe battle, though, likely prompted Iger and the board to redouble its focus on the next Disney CEO. "Regardless of the outcome of today's vote, Trian will be watching this company's performance," Peltz said at the meeting before the decision.

Persons: Bob Iger, Nelson Peltz, —, Peltz, Jay Rosulo, Horacio Gutierrez, Disney's, Maria Elena Lagomasino —, Iger, Disney, Neuberger Berman, Trian, Gen Z, Alpha, Bob Chapek, Iger's, Jason Schloetzer Organizations: Disney, Service, Trian Partners, CNBC, California Public Employees, Epic Games, ESPN, Georgetown University's McDonough School of Business

☆ Japan doesn't have enough researchers in the semiconductor industry: Portfolio manager
▼ + stars: | 2024-04-03 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailJapan doesn't have enough researchers in the semiconductor industry: Portfolio managerKei Okamura of Neuberger Berman says the Japanese government's investment in Rapidus is "pivotal", but believes it is critical for companies to increase research and development capabilities through training and upskilling of labor.

Persons: Kei Okamura, Neuberger Berman Organizations: Japan Locations: Rapidus

Trian claims Disney's board has failed to generate sufficient returns in recent years as subscription streaming losses have mounted and traditional TV subscribers have declined. Early vote countBoth Disney and Trian received support from influential shareholders ahead of Wednesday's meeting. Roughly one-third of Disney's shareholders are retail shareholders, who historically vote in small numbers in annual meetings. The arrangement still raised questions about ValueAct's support for the company and whether Disney's board should have disclosed the prior relationship. WATCH: Disney board battle reaches final moments

Persons: Bob Iger, Mickey Mouse, Valerie Macon, Nelson Peltz, Jay Rasulo, They've, Maria Elena Lagomasino, Michael Froman, Peltz, Ike Perlmutter, Trian, Disney's, Iger, Bob Chapek, Patrick T, Adam Jeffery, Morgan Stanley, James Gorman, CNBC's, George Lucas, Laurene Powell Jobs, Lucas, Powell Jobs, Ken Squire, Rowe Price, Rowe, Mason Morfit's, ValueAct, Neuberger Berman, John Ferguson, Rasulo —, Glass Lewis, Iger's, Gorman, Jeremy Darroch, CNBC's Andrew Ross Sorkin, Heidi Gutman, Lagomasino, shouldn't, Blackwells, Rasulo, Jason Aintabi, John Foley, Jessica Schnell, Craig Hatkoff, Leah Solivan, ValueAct hasn't Organizations: AFP, Getty Images Disney, Voters, Trian Partners, Disney, PepsiCo, Marvel, SEC, Fallon, Bloomberg, Getty, CNBC Disney, CNBC, Star Wars, LucasArts, Pixar, BlackRock, Institutional, California Public Employees, Yacktman Asset Management, Saratoga Proxy, ISS, Sky, Trian Fund Management, NBCU, Bank, NBCUniversal, Green, Comcast Locations: Los Angeles, New York

☆ Disney proxy battle is about a lot more than just two board seats
▼ + stars: | 2024-04-03 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +6 min

As for the newsletter, in today's big story, we're breaking down Disney's big proxy fight . Activist investor Nelson Peltz's proxy fight against Disney for two seats on the company's board comes to a head at its annual shareholder meeting today. The total amount spent between Disney and its rivals wrangling votes is estimated to be at least $70 million, a record for a proxy fight. The statue of Walt Disney and Mickey Mouse at Cinderella Castle at the Magic Kingdom, at Walt Disney World, in Lake Buena Vista, Florida. 3 things in businessWin McNamee/Getty Images; Chelsea Jia Feng/BIIn other newsAdvertisementWhat's happening todayThe Walt Disney Company's annual meeting will be held today.

Persons: —, Congrats, ya, Bob Iger, Nelson Peltz, Neilson Barnard, David A, Grogan, Nelson, Madeline Berg, BI's Peter Kafka, BI's Grace Eliza Goodwin, Walt Disney, Mickey Mouse, Joe Burbank, Rowe Price, Peltz's Trian, Neuberger Berman, Peltz, It's, Trian, they're, Stocks, Ray Dalio, it's, Quincy Krosby, Jeffrey Buchbinder, Alyssa Powell, Win McNamee, Chelsea Jia Feng, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, George Glover Organizations: Business, Service, National, Getty, Disney, Magic, Walt Disney World, Orlando Sentinel, Tribune, Wall, BlackRock, Peltz's Trian Partners, California Public Employees, Financial Times, DuPont, Fed, JPMorgan, Bridgewater Associates, Astera Labs, Arm Holdings, LPL Financial, Apple, Nvidia, BI, Walt Locations: —, Virginia, Lake Buena Vista , Florida, China, Haiti's, New York, London

☆ Steve Eisman says the Fed shouldn't cut rates, risks creating a stock market bubble if it does
▼ + stars: | 2024-04-02 | by ( Jeff Cox | ) www.cnbc.com time to read: +3 min

If the Federal Reserve follows through on plans to lower interest rates it could lead to a stock market bubble, in the view of Neuberger Berman portfolio manager Steve Eisman. The central bank last month penciled in three potential quarter percentage point rate cuts by the end of 2023, along with multiple other cuts coming in future years. I personally think there should be no Fed cuts this year," he said during an interview on CNBC's " Squawk Box ." My actual fear is that if the Fed were actually to cut rates, the market becomes bubblicious and then we have a real problem. Markets in fact have grown nervous this week as hopes have waned for rate cuts.

Persons: Neuberger Berman, Steve Eisman, Jerome Powell, Eisman, Powell Organizations: Federal, Institute for Supply Management, Stanford Business, Government, Society, Labor Department, Fed

☆ Disney's largest shareholder Vanguard reportedly backing management over Peltz in board fight
▼ + stars: | 2024-04-02 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +2 min

Disney's largest shareholder, index fund manager Vanguard, plans to support management over Nelson Peltz's Trian Partners in Wednesday's board vote, Bloomberg News reported Tuesday, citing unnamed people familiar with the matter. Vanguard owns 7.8% of Disney shares. BlackRock , Disney's second -largest shareholder with 4.2% of shares, is also supporting the incumbent board and CEO Bob Iger, The Wall Street Journal reported Monday. The reporting on how Disney's largest shareholders are supposedly voting prompted harsh criticism from one-time shareholder activist Bill Ackman on Tuesday evening. Through an arrangement with former Marvel Chairman Ike Perlmutter, Trian controls 1.8% of Disney shares, making it the fifth largest shareholder.

Persons: Bob Iger, Nelson Peltz's, Disney's, Bill Ackman, Ackman, Ike Perlmutter, Trian, Neuberger Berman, CalPERS, Jamie Dimon, George Lucas Organizations: Walt Disney Company, Shanghai Disney Resort's, Shanghai Disney Resort, Vanguard, Nelson Peltz's Trian Partners, Bloomberg News, Institutional, Disney, BlackRock, Street, Geode Capital Management, Marvel, Retail, JPMorgan Chase, Star Wars, CNBC, Bloomberg Locations: Shanghai, China, Disney's

☆ Disney's fight with Nelson Peltz will come to a head tomorrow. Here's where things stand.
▼ + stars: | 2024-04-02 | by ( Madeline Berg | ) www.businessinsider.com time to read: +6 min

A vote for the Disney's slate of board members will show support for Iger's performance as CEO since he returned to lead the company in November 2022. AdvertisementIt's the culmination of months of tussling between Disney and Peltz, who has been waging war against Disney's board since January last year. "When I sold Lucasfilm just over a decade ago, I was delighted to become a Disney shareholder because of my long-time admiration for its iconic brand and Bob Iger's leadership." And proxy advisory firm Institutional Shareholder Service recommended shareholders vote for Peltz, though not Rasulo. Advertisement"We wish the very best to Bob, this management team, and the board," Peltz said on CNBC at the time.

Persons: —, Bob Iger, Nelson Peltz's Trian, that's, Peltz, Jay Rasulo —, Maria Elena Lagomasino, Michael Froman, Gen, Alpha, Jason Schloetzer, BlackRock, Rowe Price, Iger, Roy Disney's, Laurene Powell Jobs, George Lucas, Lucas, Bob Iger's, Donald Duck's, Ludwig Von Drake, Schloetzer, Trian, That's, Neuberger Berman, Ike Perlmutter, he'd Organizations: Service, Disney, Nelson Peltz's Trian Partners, Business, Century Fox, Epic Games, Georgetown University's McDonough School of Business, Vanguard, Street Journal, ValueAct Capital, Walt, Star Wars, Lucasfilm, New York Times, California Public Employees, CNBC, Netflix, ABC, ESPN, Marvel, Financial

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