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The Justice Department is investigating McKinsey & Company, the international consulting giant, for its role in helping drug companies maximize their sale of opioids. Since 2021, McKinsey has agreed to pay about $1 billion to settle investigations and lawsuits across the United States related to the firm’s work with opioid makers, principally Purdue Pharma, the maker of OxyContin. McKinsey recommended that Purdue “turbocharge” its sales of the drug in the midst of the opioid crisis, which has killed hundreds of thousands of Americans. News of the criminal investigation was first reported by The Wall Street Journal on Wednesday. Last year another opioid maker, Mallinckrodt, said it received a grand jury subpoena from the same U.S. attorney’s office but did not mention any connection to McKinsey.

Persons: Endo, Mallinckrodt Organizations: McKinsey & Company, U.S, Western, of, McKinsey, Purdue Pharma, Purdue “ turbocharge, Wall, The New York Times Locations: Massachusetts, of Virginia, Washington, United States

Here's a rapid-fire update on all 33 stocks in Jim Cramer's Charitable Trust, the portfolio we use for the CNBC Investing Club. Broadcom : Broadcom's AI business, which includes co-designing custom chips for tech giants such as Club holding Alphabet, is booming. The newspaper reported April 12 that Salesforce was in talks to buy Informatica, which sent the Club holding's shares plunging. Wells Fargo : Another trim is due for our Wells Fargo position after a great run for the bank stock, Jim argued. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

Persons: Jim Cramer's, Jim, Johnson, Abbott, Andy Jassy, Bausch, Salesforce, Salesforce didn't, Tom Jorden, We've, It's, Walt Disney, Nelson Peltz's, Bob Iger's, Estee Lauder, there's, Eaton, We're, he's, Locker, he'd, Vimal Kapur, Linde, Eli Lilly, Eli Lilly's, TikTok, Joe Biden, Morgan Stanley, Morgan Stanley's, Ted Pick, Jensen Huang, Nikesh Arora, haven't, Laxman Narasimhan, Sands, Stanley Black, Decker, TJ Maxx, TJX, Wells, Jim Cramer, Angela Weiss Organizations: Jim Cramer's Charitable Trust, CNBC, Club, Apple, Abbott Laboratories, Johnson, Web Services, Broadcom, VMWare, GE Healthcare, GE, Bausch Health, Costco Wholesale, Costco, Street, Informatica, Coterra, DuPont De Nemours, DuPont, Walt, Disney, Ford, GM, Philips, Siemens, Google, Honeywell, Linde, Facebook, Meta, Microsoft, Nvidia, Investors, AMD, Oregon State University, Palo Alto Networks, UnitedHealth, Procter & Gamble, Constellation Brands, Constellation, Modelo, TJX, Marshalls, Home Goods, Wynn Resorts, Jim Cramer's Charitable, New York Stock Exchange, Afp, Getty Locations: China, Informatica, Ford, Estee, U.S, mater, Palo, Corona, Wells Fargo, Wells, Macao, New York City

☆ NASA and Nokia are taking 4G into space
▼ + stars: | 2024-04-24 | by ( Jack Bantock | ) edition.cnn.com time to read: +5 min

That’s the shared vision of NASA and Nokia, who have partnered to set up a cellular network on the Moon to help lay the building blocks for long-term human presence on other planets. A SpaceX rocket is due to launch this year — the exact date has yet to be confirmed — carrying a simple 4G network to the Moon. The 4G network unit is being built by Nokia’s Bell Labs using a range of off-the-shelf commercial components. Images of ice — transmitted back to the lander and then Earth in near real-time via the cellular network — would be a world-first. NASA selected Bell Labs as part of its Tipping Point initiative, a series of partnerships with companies to develop technologies for future missions that puts them in prime position for key roles in the future space economy.

Persons: ” Walt Engelund, Shackleton, Engelund, Artemis —, ”, ” Thierry Klein, ” Klein Organizations: CNN, NASA, Nokia, SpaceX, Technology, Nokia’s Bell Labs, Nokia Bell Labs, Bell Labs, US Defense, Research Projects Agency, DARPA, Bell Labs Solutions Research, Nokia Bell

☆ Anne Hathaway says she had to make out with 10 guys in a day for 'gross' chemistry auditions. She pretended to be excited so she wasn't labeled 'difficult.'
▼ + stars: | 2024-04-23 | by ( Ayomikun Adekaiyero | ) www.businessinsider.com time to read: +4 min

Anne Hathaway told V Magazine that in the 2000s, she had to kiss 10 men in one day for a chemistry audition. Hathaway said she thought it was "gross" but didn't want to be seen as "difficult" by complaining. AdvertisementAnne Hathaway said she had to make out with 10 guys in one day for a chemistry audition for a movie in the 2000s. Hathaway told V that the making-out element is being phased out of chemistry auditions now. Galitzine told People in March at the SXSW festival that he was initially anxious about the dance audition, but the experience was "transformative."

Persons: Anne Hathaway, Hathaway, —, Ella Enchanted, Jane, Chris Pine, Kirsten Dunst, Katherine Heigl, Nicholas Galitzine, Hayes Campbell, Alisha Wetherill, Nobody, Michael Showalter, Galitzine Organizations: V Magazine, Service, Walt Disney Pictures, Hollywood, Alabama, SXSW

☆ Disney technology executive Aaron LaBerge to leave company for personal reasons
▼ + stars: | 2024-04-22 | by ( Alex Sherman | ) www.cnbc.com time to read: +3 min

The Walt Disney company logo is displayed on the floor of the New York Stock Exchange during morning trading on Dec. 1, 2023. Aaron LaBerge, the chief technology officer for Disney Entertainment and ESPN, is leaving the company, according to an internal memo. LaBerge is leaving for personal reasons related to his family and will stay on at Disney until June, the memo said. At ESPN, LaBerge has been a central figure behind the company's streaming services, including ESPN+, the upcoming sports streaming application co-owned by Disney, Warner Bros. They include former CEO Bob Chapek, former head of streaming Kevin Mayer, ex-finance chief Christine McCarthy, former Walt Disney Studios Chairman Alan Horn, former Disney general counsel Alan Braverman, ex-head of communications Zenia Mucha, and former president of Walt Disney Pictures, Sean Bailey.

Persons: Aaron LaBerge, LaBerge, He'll, He's, Bob Chapek, Kevin Mayer, Christine McCarthy, Alan Horn, Alan Braverman, Zenia Mucha, Sean Bailey, Aaron, Jimmy Pitaro, Dana Walden, Alan Bergman, Chris Lawson, Paul Allen Organizations: Walt Disney, New York Stock Exchange, Disney Entertainment, ESPN, PENN Entertainment, ESPN Bet, Disney, Hulu, Warner Bros . Discovery, Fox, Walt Disney Studios, Walt Disney Pictures, ESPN BET, Company, Starwave

☆ Trump co-defendant in classified documents case was told he’d be pardoned in a second term, notes in FBI interview say
▼ + stars: | 2024-04-22 | by ( Tierney Sneed | Holmes Lybrand | ) edition.cnn.com time to read: +2 min

It’s not clear how the witness came to know of the alleged offer of a pardon. The FBI’s interview summary said Person 16 had not spoken to Nauta since Trump was in the White House. During a November 2021 visit, the witness told Trump to give “whatever” he had back to the National Archives, according to the interview summary, which is known as a FD-302. Don’t give them a noble reason to indict you, because they will,” the witness told Trump, according to the witness’ account. The FBI executed a search warrant at Mar-a-Lago to recover classified material in August 2022.

Persons: Donald Trump’s, Walt Nauta, –, Nauta, Jack Smith, It’s, Trump, “ NAUTA, FPOTUS, ’, ”, Trump’s Organizations: CNN, FBI, Trump, National Archives Locations: United States, Lago, Florida, Mar

☆ A disabled woman planned a 'once-in-a-lifetime' trip to Disney World. Then the park changed its disability policy.
▼ + stars: | 2024-04-22 | by ( Lauren Edmonds | ) www.businessinsider.com time to read: +7 min

Read previewSavannah spent nine weeks and thousands of dollars planning her family's trip to Walt Disney World. AdvertisementMinnie Mouse at Walt Disney World. Disney's new disability policyThe bombshell: Disney announced earlier this month that it would revise its Disability Access Service policy. The Washington Post/Getty ImagesThe Disneyland and Disney World websites include information for individuals with disabilities across different categories, including mobility. However, the policy changes — scheduled to go into effect the first day of their Disney vacation — have upended everything.

Persons: —, Minnie Mouse, Savannah —, Savannah, She's, Disney, there's, Bob Iger —, Joe Burbank, I've Organizations: Service, Savannah, Walt Disney, Disney, Business, Walt Disney World, Anadolu, Getty, Fox Business, The Washington Post, Disneyland, Washington Post, Services, Orlando Sentinel, Tribune, Getty Images Savannah, Universal Locations: Savannah, Indiana, California, Florida

☆ Disney mailed out creepy kids drawings to promote its horror flick 'First Omen.' A Democratic candidate thought anti-abortion extremists were after her.
▼ + stars: | 2024-04-21 | by ( Eve Crosbie | ) 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. This story is available exclusively to Business Insider subscribers. AdvertisementOne of the drawings Amanda Taylor received in the mail with no identifying details from the sender. Courtesy of Amanda Taylor"Right away, I was thinking, 'Ah, this has something to do with abortion," Taylor told Business Insider. The letter, it turned out, was just an elaborate publicity stunt to promote "The First Omen," the latest installment in the long-running horror franchise.

Persons: —, Amanda Taylor, Taylor, — Taylor, Roe, Wade, Marshall Weinbaum, Walt, Weinbaum, Damien, it's Organizations: Service, state's, Representatives, Democratic Party, Business, Missouri GOP, Walt Disney Studio's Locations: Missouri, spidery

☆ Opinion: Shaking off the Trump effect
▼ + stars: | 2024-04-21 | by ( Richard Galant | ) edition.cnn.com time to read: +19 min

We’re looking back at the strongest, smartest opinion takes of the week from CNN and other outlets. CNN —“We are most deeply asleep at the switch,” wrote Annie Dillard, “when we fancy we control any switches at all. When the Senate voted to send new aid to Ukraine, Israel and Taiwan two months ago, House Speaker Mike Johnson took no action. With the help of Democrats, the House approved aid to Ukraine, Israel and Taiwan on Saturday. Writing for CNN Opinion, he emphasized that there are legal principles that require universities to prohibit expressions of antisemitism.

Persons: CNN —, ”, Annie Dillard, “, time’s, —, Mike Johnson, Donald Trump, Joe Biden, Trump, Biden, Sleepy Joe ”, Israel, Johnson, MAGA, Julian Zelizer, Walt Handelsman, Marjorie Taylor Greene’s, Kevin McCarthy’s, Clay Jones, Fareed Zakaria, Alejandro Mayorkas, “ Biden, ” Zakaria, Bill Clinton, ” Trump, Jack Ohman, Agency Donald Trump’s, dozed, Elliot Williams, Patrick T, Brown, …, ‘, ’, Attorney Alvin Bragg, ” Will, Jeffrey Abramson, ” “, Norm Eisen, Stormy Daniels, ” Eisen, Michael Cohen, Elie Honig, Frida Ghitis, Benjamin Netanyahu, ” Lisa Benson, GoComics.com Peter Bergen, Daniel R, DePetris, Dean Obeidallah, Susanne DeWitt, ” David Schizer, ” Schizer, Danielle Campoamor, Caitlin Clark, Simone Biles, Campoamor, Latika Bourke, John Howard, Justin J, Pearson, Winston Churchill, Holly Thomas, Boris Johnson, Rishi Sunak’s, It’s, ” Thomas, YouGov, ” Don’t, Drew Sheneman, Agency David M, Perry, Frankie de la, Angel Reese, Roy Schwartz, Joni Mitchell —, Raul A, Reyes, Sonia Sotomayor, Jules Boykoff, Jaime M, Valiathan, Ed Manning, Sara Stewart, Noah Berlatsky, Taylor Swift Amy Bass, Taylor Swift, Swift, Department ”, ” Bass, “ Swift, Joe, Alwyn, Diana, they’re, Clara Bow, Dylan Thomas, Patti Smith — Organizations: CNN, Republicans, MAGA Republicans, Agency, Congress, Biden, Homeland, National Guard, ‘, Manhattan, Attorney, New York Democrats, Twitter, Facebook, New York Times, Trump, Berkeley, Nazism, Columbia, Nike, Team USA, Sydney, Port, Conservative, Squadron, Royal Auxiliary Air Force, Central Press, Hulton, National Health Service, WNBA, Ungentlemanly, Department Locations: Ukraine, Israel, Taiwan, Manhattan, Iran, Russia, China, ‘, New, CNN Iran, “ Israel, Gaza, Israeli, Damascus, Iraq, America, Dearborn, Nazi Germany, Berkeley , California, Berkeley, East Bay, Sydney, Port Arthur, Tennessee, Surrey, Croydon, Quebec, Britain, Vancouver, London, Welsh

☆ A former Miss America contestant uses low-impact workouts to build lean muscle and core strength — and protect her heart
▼ + stars: | 2024-04-21 | by ( ) 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 previewMadeline Collins, the 2018 Miss West Virginia who competed for the title of Miss America 2019, knows firsthand the hard work that goes into getting a dancer's graceful, athletic physique. Contestant Madeline Collins, Miss West Virginia, showcases her dance talents on the Miss America stage competing for the 2019 title. "It offers the ability to work out hard, sweat, and see significant change without shooting up your heart rate." AdvertisementResearch suggests walking more can help improve your heart health and reduce your risk of illness.

Persons: —, Madeline Collins, — Collins, Collins, I'm, barre Organizations: Service, Miss West, Miss, Walt Disney Company, Disney, Business, Pure, Miss America Locations: Miss West Virginia, Barre, barre

☆ Judge rejects efforts by Trump’s co-defendants to get obstruction charges tossed in classified documents case
▼ + stars: | 2024-04-18 | by ( Tierney Sneed | Hannah Rabinowitz | ) edition.cnn.com time to read: +2 min

CNN —Special counsel Jack Smith’s obstruction case in the classified documents prosecution survived an early test, with a federal judge on Thursday denying several bids by Donald Trump’s co-defendants to dismiss charges against them. Judge Aileen Cannon rejected efforts by Trump’s co-defendants Walt Nauta and Carlos De Oliveira to toss obstruction charges they faced. Nauta works as Trump’s personal valet, and De Oliveira has worked as property manager at Trump’s Florida Mar-a-Lago estate. The Florida judge still has yet to decide several motions by Trump to toss charges against him in connection with allegedly mishandling classified documents and attempting to thwart the Justice Department’s investigation. Attorneys for De Oliveira argued that the obstruction charges he faced should be dismissed because he was not aware of the grand jury subpoenas issued for classified documents kept at Mar-a-Lago when he allegedly moved boxes around the resort.

Persons: Jack Smith’s, Donald Trump’s, Aileen Cannon, Trump’s, Walt Nauta, Carlos De Oliveira, De Oliveira, Trump, Department’s, Cannon, Nauta’s, De Organizations: CNN, Florida, Mar, Trump Locations: Lago, Florida

☆ Judge in Documents Case Rejects Dismissal Motions by Trump Co-Defendants
▼ + stars: | 2024-04-18 | by ( Alan Feuer | ) www.nytimes.com time to read: +1 min

The federal judge overseeing former President Donald J. Trump’s classified documents case on Thursday denied initial attempts by Mr. Trump’s two co-defendants to have the charges against them dismissed. The ruling by the judge, Aileen M. Cannon, was the first time she had rejected dismissal motions by the two men, Walt Nauta and Carlos De Oliveira, both of whom work for Mr. Trump at Mar-a-Lago, his private club and residence in Florida. The men have also been charged with lying to investigators working on the case. At a hearing last week in Federal District Court in Fort Pierce, Fla., lawyers for the two men tried to convince Judge Cannon that their clients had no idea that the boxes they had moved on Mr. Trump’s behalf contained classified materials. The lawyers also said they needed more details about the evidence against the men than what was contained in the 53-page superseding indictment.

Persons: Donald J, Trump’s, Aileen M, Cannon, Walt Nauta, Carlos De Oliveira, Trump, Jack Smith, Nauta, De Oliveira, Judge Cannon Organizations: Mar, Prosecutors, White, Federal, Court, Mr Locations: Florida, Fort Pierce, Fla

☆ I moved my family down south to Florida over 7 years ago. I mostly love it, but life here has been filled with surprises.
▼ + stars: | 2024-04-17 | by ( Terri Peters | ) www.businessinsider.com time to read: +1 min

My family moved from Maryland to Florida over 7 years ago, when my teens were in elementary school. From hurricane parties to political protests, I've experienced a lot and I love living here. Florida is more than just Walt Disney World and gators, but both of those exist here. AdvertisementIt's been over seven years since my husband and I chose to relocate our family from Maryland to Florida. It's a decision I've never regretted once, but living in the Sunshine State is very different from life in the Northeast.

Persons: I've, —, It's Organizations: Walt Disney World, Service, Sunshine State, Disney, Business Locations: Maryland, Florida, Sunshine

☆ Charles Schwab CEO: Investors have a lot of reasons to be optimistic as I do
▼ + 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 EmailCharles Schwab CEO: Investors have a lot of reasons to be optimistic as I doCharles Schwab CEO Walt Bettinger joins 'Money Movers' to discuss the company's quarterly earnings results, how interest rates are affecting the business, and what's driving new asset growth.

Persons: Charles Schwab, Walt Bettinger

☆ Disney says it will now issue lifetime bans to guests who lie about having disabilities at its theme parks
▼ + stars: | 2024-04-13 | by ( Lauren Edmonds | ) www.businessinsider.com time to read: +3 min

The updates address who can use Disability Access Services, among other changes. Disability services have become the most requested service at the Florida and California parks, according to The Washington Post. MediaNews Group/Orange County Register via Getty ImagesChanges to the company's Disability Access Service arrived on the official Walt Disney World and Disneyland websites this week. Joseph Prezioso/Anadolu Agency/Getty ImagesThe new policies will begin at Walt Disney World on May 20 and June 18 at Disneyland. Representatives for Walt Disney World and Disneyland did not immediately respond to a request for comment from Business Insider.

Persons: —, Disney, Joseph Prezioso, Dennis Speigel, Speigel, Stacey Crane Organizations: Disney, Service, Business, The Washington Post, MediaNews, Orange, Getty, Walt Disney, Fox Business, Anadolu Agency, Walt Disney World, Disneyland . Representatives, Park Services, NBC, WESH, Washington Post Locations: Florida, California, Orlando

☆ FBI interview transcript reveals how Trump aide characterized boxes at Mar-a-Lago to investigators
▼ + stars: | 2024-04-12 | by ( Tierney Sneed | Holmes Lybrand | ) edition.cnn.com time to read: +3 min

CNN —The transcript of an FBI interview made public late Thursday details how an aide to former President Donald Trump characterized the boxes of sensitive documents that are now at the center of the special counsel’s case into the mishandling of classified documents from the Trump White House. For much of the May 2022 interview, Nauta describes the layout of Mar-a-Lago, what he claimed to know about where boxes of Trump’s items from the White House were stored and his assessment of what was in the boxes. Nauta has been charged with conspiring to conceal documents as well as lying to the FBI in his interview about the location and movement of boxes of documents at Mar-a-Lago. According to the transcript, investigators at one point in the interview ask Nauta whether he was aware of Trump showing a document with classified markings to people while on a plane. So that’s kind of the reason why we’re looking into this.”Nauta denied telling Trump that he was sitting for the interview, and according to the transcript, Nauta said he told Trump that he was going for a run.

Persons: Donald Trump, Walt Nauta, Nauta, Trump, Aileen Cannon, Jack Smith’s, we’ve, ” Nauta Organizations: CNN, FBI, Trump White House, Mar, Trump

☆ Trump Co-Defendants Argue for Dismissal of Charges in Documents Case
▼ + stars: | 2024-04-12 | by ( Eileen Sullivan | ) www.nytimes.com time to read: +1 min

Lawyers for co-defendants of former President Donald J. Trump argued in federal court in Florida on Friday to dismiss charges of aiding in the obstruction of efforts to recover classified documents. It was a rare hearing of the documents case in which Mr. Trump did not take center stage. His co-defendants, Walt Nauta and Carlos De Oliveira, are loyal Trump employees, accused of conspiring with the former president to hide boxes containing classified government materials after Mr. Trump left office. Prosecutors also accused them of plotting to destroy security camera footage of the boxes being moved. She also did not announce a date for the trial to begin, despite holding a hearing more than a month ago on the matter.

Persons: Donald J, Trump, Walt Nauta, Carlos De Oliveira, Prosecutors, Aileen M, Cannon Organizations: Trump Locations: Florida, Fort Pierce, Fla

☆ Trump’s Co-Defendants in Documents Case Seek to Dismiss Charges
▼ + stars: | 2024-04-11 | by ( Alan Feuer | Eileen Sullivan | ) www.nytimes.com time to read: +1 min

Almost from the moment former President Donald J. Trump was charged last June with mishandling a trove of highly secret classified documents, the spotlight in the case has been fixed — as it usually is — on him. But on Friday afternoon, the focus will shift, at least briefly, to Mr. Trump’s two co-defendants, Walt Nauta and Carlos De Oliveira. Their lawyers will square off in court with federal prosecutors in an effort to have the charges they are facing dismissed. The men have also been accused of lying to investigators. In some sense, Mr. Nauta, a personal aide who met Mr. Trump while serving as a valet at the White House, and Mr. De Oliveira, who rose at Mar-a-Lago from parking cars to working as the property manager, are merely supporting players in the larger drama starring Mr. Trump.

Persons: Donald J, Trump, Trump’s, Walt Nauta, Carlos De Oliveira, —, Florida —, Nauta, De Oliveira Organizations: Prosecutors, Mar, White Locations: Florida

☆ Downtown Los Angeles Places Another Big Bet on the Arts
▼ + stars: | 2024-04-09 | by ( Robin Pogrebin | ) www.nytimes.com time to read: 1 min

For decades the effort to revitalize downtown Los Angeles has been tied to arts projects, from the construction of the midcentury modern Music Center in 1964 to the addition of Frank Gehry’s soaring stainless steel Walt Disney Concert Hall in 2003. But the pandemic was tough on downtowns and cultural institutions around the country, and Los Angeles has been no exception. Its downtown office vacancy rates climbed above 25 percent. Homelessness and crime remain concerns. Many arts organizations have yet to recover their prepandemic audiences.

Persons: Frank Organizations: Center, Walt Disney Concert Hall Locations: Los Angeles

Morgan Stanley raised its price target on Ford after the company reassessed its electric vehicle strategy. That "paints path to ~$230-$290 stock price as we argue AMZN could warrant an even higher multiple in this scenario," he added. — Michelle Fox 7:38 a.m.: Evercore hikes Disney price target, points out near-term catalysts Walt Disney has a bright near-term outlook, according to Evercore ISI. In addition to cutting his price target, Harned also pulled down his outlook for free cash flow and deliveries. — Alex Harring 5:48 a.m.: KeyBanc raises Nvidia price target There's no slowing down Nvidia , according to KeyBanc.

Persons: Morgan Stanley, KeyBanc, Brian Nowak, Jon Tower, — Michelle Fox, Walt Disney, Vijay Jayant's, Jayant, Bob Iger, — Lisa Kailai Han, David Palmer, Palmer, Uber, — Alex Harring, Bernstein, Douglas Harned, Harned, Dave Calhoun, Alex Harring, Anthony Chukumba, Chukumba, selloff, Ross Seymore, Seymore, TD Cowen, Doug Anmuth, Anmuth, there's, John Blackledge, Blackledge, Jason Bazinet, Bazinet, There's, Goldman, Goldman Sachs, Kate McShane, McShane, BJ, Mark Strouse, Strouse, Adam Jonas, Jonas, Ford, John Vinh, Vinh, Fred Imbert Organizations: CNBC, Monday's, Ford, Nvidia, Amazon, Citi Citi, Grill, ISI, Disney, India's Reliance Industries, Reliance Industries, Netflix, Hulu, Boeing, Dow Jones, Capital, Loop Capital, Deutsche Bank, Broadcom, VMWare, JPMorgan, Citi, BJ's Wholesale, GE, GE Vernova Locations: Michigan, Alaska, F1Q, California, The Massachusetts, Friday's, China

☆ Disney's parks are its top money maker — and it plans to spend $60 billion to keep it that way
▼ + stars: | 2024-04-07 | by ( Sarah Whitten | ) www.cnbc.com time to read: +12 min

It had been more than a year since the Covid pandemic had forced Disney's domestic parks to shutter, but D'Amaro, chair of Disney's experiences division, was confident guests would flood back in when the gates reopened. Revenues fell 35% in 2020, a nearly $10 billion decrease from the $26.2 billion the experiences division had tallied in the year before the pandemic. The experiences division posted record revenue of $32.5 billion in fiscal 2023, a 16% increase from the prior year. Its innovations, from ride mechanics and animatronics to creature design and immersive architecture, have made Disney's parks a standout in the industry. Storytelling is at the heart of everything across Disney's experiences division.

Persons: Mickey Mouse, Ian Langsdon, Josh D'Amaro, D'Amaro, Bob Chapek, D'Amaro —, Walt Disney, King Arthur Carousel, Christian Thompson, you've, it's, Bob Iger, Nelson, Walt Disney Imagineering, Rey, Kylo Ren, Judy Hopps, Imagineers, CNBC —, Lewis, Disney, Imagineering, Matt Stroshane, Alan Bergman Organizations: Paris, Afp, Getty, Gibson, Disney, Walt Disney Imagineering, Hong Kong Disneyland, Walt Disney, Guardians, Magic Kingdom, Epcot, Star Wars, California Disneyland's, Walt Disney Imagineering's, Disney Engineers, Force, Southwest, CNBC, Galactic, Marvel Locations: California, Burbank, Disneyland, Hong Kong, Shanghai Disneyland, Florida, Epcot, Magic, Wharf, Disneyland's, Disney's, Edge

☆ 'Mandalorian & Grogu,' 'Toy Story 5,' and another 'Tron' coming to theaters from Disney
▼ + stars: | 2024-04-05 | by ( Sarah Whitten | ) www.cnbc.com time to read: +2 min

The Mandalorian and the Child (Grogu) on Disney+'s "The Mandalorian." The Walt Disney Company on Friday revealed its new theatrical schedule, which will feature a film about the Mandalorian and Grogu, a fifth "Toy Story" film, and another "Tron" flick before the end of 2026. The company's theatrical business has struggled in the wake of pandemic shutdowns and dual Hollywood labor strikes, as productions stalled and moviegoers' box-office habits shifted. Disney teased that one of its 2026 Star Wars films would feature the iconic duo from its Disney+ series "The Mandalorian" and revealed its title will be "The Mandalorian & Grogu." A fifth "Toy Story" film is set to hit theaters on June 19, 2026, and "Tron: Ares" is slated for Oct. 10, 2025.

Persons: Disney, Bob Iger, He's, Iger, Oscar, Rami Malek, Amy Adams Organizations: Disney, Walt Disney Company, Marvel

☆ Hot air balloon pilot had high level of ketamine in his system during crash that killed 4, toxicology report finds
▼ + stars: | 2024-04-04 | by ( Eric Levenson | ) edition.cnn.com time to read: +3 min

CNN —The pilot of a hot air balloon that crashed in Arizona in January, leaving four people dead, had high levels of the psychedelic drug ketamine in his blood system, according to a forensic examination report from the Pinal County Medical Examiner’s Office. Cornelius van der Walt, the 37-year-old pilot of the balloon, had ketamine levels of between 1.1 to 1.2 mg/L in his system, according to toxicology testing from the FAA and from NMS Labs. For comparison, the United Kingdom considers ketamine levels over .02 mg/L to be indicative of impaired driving ability, the report says. Van der Walt had no reported prescription for ketamine, and the drug was not used during resuscitation attempts, the report states. The medical examiner’s report stems from the hot air balloon crash in Eloy, Arizona, on January 14 in which the pilot and three other people were killed.

Persons: Cornelius van der Walt, Van der Walt, van der Walt, Chayton Wiescholek, Kaitlynn Bartrom, Atahan Kiliccote, Valerie Stutterheim, Cameron Balloons Organizations: CNN, FAA, NMS Labs, US Drug Enforcement Administration, US Food and Drug Administration, National Transportation Safety Board, ” Police, NTSB Locations: Arizona, Pinal County, United Kingdom, Eloy , Arizona, Eloy, Union City , Michigan, Andrews , Indiana, Cupertino , California, Scottsdale , Arizona

☆ CNBC Daily Open: Disney wins proxy showdown
▼ + stars: | 2024-04-04 | by ( Clement Tan | In Clemtan | ) www.cnbc.com time to read: +2 min

This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Nick Caldwell, now chief product officer at Peloton, is claiming Musk and X "cheated" him and other executives out of a combined $200,000,000 in severance benefits. This lawsuit is similar to the one filed by other Twitter executives, including ex-CEO Parag Agrawal, claiming they were owed $128 million in unpaid severance. [PRO] Autos winnersA Tesla short-seller named two auto stocks that he believes have the potential to deliver 100% upside for investors.

Persons: Robert Iger, Mickey Mouse, Jerome Powell, Steve Cohen, David Einhorn, Elon Musk, Nick Caldwell, Parag Agrawal, Tesla Organizations: Walt Disney Company, New, Children's Hospital, Children's Hospital Los Angeles, CNBC, Dow Jones, Intel, Nasdaq, Fed, U.S, Elon, Twitter Locations: Children's Hospital Los, Los Angeles , California

If you had the opportunity to hear activist investor Nelson Peltz, the defeated candidate for the Disney board, you did not get a definitive answer, as much as I pressed. In my CNBC interview with Peltz on Thursday, he assured us that he would be back if Iger didn't deliver on his promises. Iger talked about the board's succession committee, which former Morgan Stanley CEO James Gorman and now Disney board member, is on. They're confident that they'll pick the right person at the right time," Iger said on CNBC . I most feared the blowout in Disney stock in a fit of pique and right now I am not seeing that.

Persons: Walt Disney, Nelson Peltz, Peltz, Bob Iger, Iger, Bob, they'll, Jim, weren't, Iger's, Bob Chapek, Disney, Morgan Stanley, James Gorman, Chapek, Ike Perlmutter, it's, It's, Jim Cramer's, Jim Cramer, Joe Raedle Organizations: Walt, Disney, CNBC, Iger, Marvel Entertainment, ESPN, Fox, Warner Bros ., Club, Apple, Walt Disney World, Getty Locations: Orlando , Florida

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