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☆ Election Updates: After trial, Trump returns to friendly turf at U.F.C. fight and on Fox News.
▼ + stars: | 2024-06-02 | by ( Shawn Mccreesh | ) www.nytimes.com time to read: +6 min

Mr. Giuliani’s run-ins with the law have left his life and finances in tatters. Mr. Giuliani has filed for bankruptcy and owes two Georgia women a $148 million judgment from a defamation case. “Anyone who thinks that Mr. Giuliani is off his game in terms of legal acumen is strongly mistaken,” Mr. Aidala said. Like many at the birthday party, Mr. Aidala was displeased by Mr. Trump’s conviction on charges related to hiding hush money paid to a porn star. In the video, Mr. Trump stands with a small crowd of people who appear to be some of his supporters.

Persons: Donald J, Trump, Rudolph W, Giuliani, Giuliani’s, Mr, Anthony Carbonetti, Barry Kamins, “ He’s, he’s, John Catsimatidis, “, we’ve, Kamins, Arthur Aidala, ”, ” Mr, Aidala, Harvey Weinstein, Andrew, Caroline, Bernard B, Rudy Washington, Raheem Kassam, Miranda Devine, Michael Ragusa, holstered, Scott LoBaido, I’m, MAGA ”, “ Joe, Rudy Giuliani, Rudy Organizations: City Hall, Republican, WABC, New York, Mr, The New York Times, Breitbart, New, New York Post, Trump Locations: tatters, Arizona, Georgia, Washington, Dodge Durango, client’s, Panama, Lower Manhattan, New York City, New York, Bay Ridge, Brooklyn, Staten Island, America, Suffolk County

☆ What Donald Trump Didn’t Say After His Trial
▼ + stars: | 2024-06-01 | by ( A.O. Scott | ) www.nytimes.com time to read: +1 min

The way to evaluate a political speech — I mean as a literary critic, not as a pundit or a partisan — is to examine how the rhetoric rises to the occasion. In the case of Donald J. Trump’s 33-minute address in the lobby of Trump Tower on Friday, the occasion was both bizarre and momentous. Mr. Trump has never been an orderly orator or a methodical builder of arguments; he riffs and extemporizes, free-associates and repeats himself, straying from whatever script may be at hand. The matter was also curiously flat: a rehash of the trial, with a few gestures toward the larger political stakes. The persona Mr. Trump presented on Friday was that of an aggrieved New York businessman — a Trump that seemed like a throwback to an earlier, pre-MAGA era.

Persons: Donald J, Trump, —, MAGA Organizations: Trump Locations: New York

☆ S&P 500 enters June near a record but with growing concerns about the market's narrow leadership
▼ + stars: | 2024-06-01 | by ( Michael Santoli | ) www.cnbc.com time to read: +9 min

The S & P 500 is a mere 1.2% from its all-time high, yet only 60% of its member stocks are up for the year and just over 40% last week were above their 50-day moving average. .SPX YTD mountain S & P 500, 1-year We seem to undergo one of these periods of decrying a lack of market breadth every few months in recent years. Bespoke Investment Group last week looked at the small number of past instances when the S & P 500 was so close to a record yet most stocks were beneath a 50-day average. The 100-day correlation between the S & P 500 and the Dow Jones Industrial Average has hit its lowest level since the dot-com bust of the early 2000s, according to CNBC's Data & Analytics group. The S & P 500 at the highs hit 21-times forward earnings, and we've spent very little time above that outside the pandemic melt-up and the tech boom/bust a quarter-century ago.

Persons: Warren Pies, Dow, Scott Chronert, we've Organizations: Investment, 3Fourteen, Nvidia, Treasury, Microsoft, Apple, Dow Jones, Dell Technologies, Citi, UBS Locations: Banks

☆ Watch Friday's full episode of the Halftime Report — May 31, 2024
▼ + stars: | 2024-05-31 | 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 EmailWatch Friday's full episode of the Halftime Report — May 31, 2024"Fast Money Halftime Report" is on the front lines of CNBC's market coverage. Host CNBC's Scott Wapner and the Street's top investors get to the heart of the action as it's happening and help set the agenda for the rest of the day. Watch today's full episode on CNBC PRO.

Persons: CNBC's Scott Wapner Organizations: CNBC PRO

☆ Sen. Joe Manchin leaves the Democratic Party and registers as independent
▼ + stars: | 2024-05-31 | by ( Scott Wong | Kate Santaliz | ) www.cnbc.com time to read: +2 min

Senator Joe Manchin, a Democrat from West Virginia, speaks during an interview at an Economic Club of Washington event in Washington, D.C., U.S., on Tuesday, Oct. 26, 2021. Manchin's move was first reported by longtime West Virginia radio host Hoppy Kercheval. The deadline for an independent to register to run for office in West Virginia this year is Aug. 1, according to the secretary of state's office. Manchin won a full Senate term in 2012 and a second term in 2018. In 2020, Trump captured nearly 70% of the vote in West Virginia.

Persons: Joe Manchin, West Virginia Sen, Manchin, Manchin's, Robert Byrd, Patrick Morrisey, Donald Trump's, Trump, Jim Justice, —, Morrisey, Huntington Mayor Steve Williams Organizations: Democrat, Economic, of Washington, Washington , D.C, West, longtime West, Republican, Trump, Senate, GOP, Democratic, Huntington Mayor Locations: West Virginia, Washington ,, longtime West Virginia

☆ Trump is a convicted felon. Here's what it means for the former president.
▼ + stars: | 2024-05-31 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

In today's big story, we're looking at the historic guilty verdict against former President Donald Trump . In a historic verdict, former President Donald Trump was convicted of all 34 criminal counts related to a hush-money payment made to a porn star , write Business Insider's Laura Italiano, Jacob Shamsian, and Natalie Musumeci. AdvertisementIt's the first time a US president has become a convicted felon. This was a rigged trial by a conflicted judge that was corrupt," Trump told reporters in the Manhattan courtroom hallway. Trump told reporters Thursday the "real verdict is going to be November 5 by the people."

Persons: —, Donald Trump, Tyler Le, Laura Italiano, Jacob Shamsian, Natalie Musumeci, Trump, Stormy Daniels, BI's Lloyd Lee, There's, didn't, Chip Somodevilla, Scott Eisen, Joe Biden, Alyssa Powell, Rob Arnott, Bob Elliott, Paul Singer's, Jane Street, Jenny Chang, Rodriguez, Liz Reid, Satya Nadella, Sam Altman, Nadella, Kevin Dietsch, Charles Schwab, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, George Glover Organizations: Service, Business, Republican, Trump, NBC, Getty, Wall, Elliott Management, BI, Tech, Sigma, Google, Microsoft, Apple, Big Locations: Giza, Manhattan, Bridgewater, New York, London

☆ These stocks are the most hated on the Street, but their fundamentals are improving
▼ + stars: | 2024-05-31 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +3 min

Some stocks on Wall Street are absolutely hated by analysts and investors, but their fundamentals are improving, leaving a potential buying opportunity for contrarian investors, according to UBS. Most analysts currently covering the stock have assigned it a hold rating, with predicted upside of about 16% to consensus price targets. "The iconic automaker continues to enjoy strong profits from its core markets and a policy driven investment cycle in the U.S," the analyst wrote. Most analysts have assigned Airbnb stock a hold rating. The analyst consensus has shares at a hold rating, with predictions suggesting the stock could rise an average of 26% from its Thursday close.

Persons: Jonathan Golub, Bernstein, Daniel Roeska's, Wedbush, Scott Devitt, Ben Chaiken, Jan, Chaiken, Clorox, Estee Lauder, — CNBC's Michael Bloom Organizations: UBS, Stocks, Wall, Ford Motor, Ford, Cruise, Mizuho, Pfizer, Gartner, Northern Trust

☆ Inflation seems to be cooling again. Americans aren’t buying it
▼ + stars: | 2024-05-31 | by ( Krystal Hur | ) edition.cnn.com time to read: +7 min

A slew of big-box retailers have lowered prices on items in recent weeks, citing moderating inflation and frugal customers. Recent economic data has also suggested that inflation is cooling, after data earlier this year spurred fears that progress had stalled. Yet Americans don’t seem convinced that inflation is moderating or that the economy is as healthy as indicators suggest. Mortgage rates have declined in recent weeks but remain near 7%. Target announced plans to cut prices on thousands of consumer basics as inflation cuts into household budgets.

Persons: aren’t, Charles Schwab’s, ”, James Kostulias, Charles Schwab, Joe Raedle, Jerome Powell, Powell, Neel Kashkari, “ I’m, Schumer, Chuck Schumer, General Merrick Garland, “, Elizabeth Warren, Amy Klobuchar, Bernie Sanders, Dick Durbin, Scott Sheffield, Read, Matt Egan, Mat Ishbia, homebuyers, refinances Organizations: CNN Business, Bell, New York CNN, Walmart, Target, Ikea, Aldi, CPI, “ Traders, Minneapolis Federal, CNBC, Democrats, Justice Department, Oil, Big Oil, DOJ, Big, Federal Trade Commission, United Wholesale Mortgage, Phoenix Suns NBA Locations: New York, Miami , Florida, Minneapolis, Texas, Sens

☆ Diede de Groot: The unstoppable force in tennis leaving no stone unturned in pursuit of greatness
▼ + stars: | 2024-05-30 | by ( Aleks Klosok | ) edition.cnn.com time to read: +9 min

Wheelchair tennis player Diede de Groot, though, has been unequivocally the dominant constant in the face of those challenges. Diede De Groot is one of the most decorated tennis players of all time. “Twenty years ago wheelchair tennis was one of the biggest Paralympic sports in the Netherlands,” says De Groot. So, it’s just a coincidence … but it’s a funny coincidence!”De Groot has won a total of 39 grand slam titles. It’s a really fun time to be a wheelchair tennis player.”De Groot has noticed a recent improvement in visibility for wheelchair players.

Persons: CNN —, Diede de Groot, ‘, ” De Groot, “ They’re, Diede De Groot, Scott Barbour, De Groot, “, ”, Groot, I’m, ” De, Frank Franklin II, Esther Vergeer’s, Roland Garros, Vergeer, Shingo Kunieda, De Groot’s, Vergeer’s –, Julian Finney, –, Mike Hewitt, …, Alfie Hewitt, Novak … he’s, Dylan Alcott, It’s, Lewis Storey, I’ve, “ It’s, Ivan Alvarado Organizations: CNN, Wheelchair, Paralympic, De, Getty, Lawn Tennis Association, Tennis Centre, ATP, WTA, Miami Open, Wimbledon, Tokyo Games, Reuters Locations: Paris, Dutch, Amstelveen, Netherlands, Woerden, Miami, Tokyo, Rio

☆ Your around-the-corner Uber or Lyft ride may pay drivers $3 or less. Some say it's a nightmare.
▼ + stars: | 2024-05-30 | by ( Noah Sheidlower | Jacob Zinkula | ) www.businessinsider.com time to read: +9 min

One screenshot from a Lyft driver based in Arizona showed a $2.62 ride that took 15 minutes and traveled 4.32 miles. For some drivers, these sub-$3 trips are a symbol of their broader frustrations with their pay. AdvertisementCompared to January 2023, sub-$3 trips — excluding tips — have become more common for DoorDash, Grubhub, and Uber Eats drivers and less common for Uber and Lyft drivers, per Gridwise. Otherwise, the pay would likely increase if drivers rejected these rides since drivers would be more likely to accept a higher-paying ride. AdvertisementMoises Diaz, a 41-year-old Uber and Lyft driver in California, started driving part-time in December.

Persons: —, Sergio Avedian, Guy, Avedian, it's, Lyft, they're, Uber, Grubhub, Gridwise, Randy Scott, he's, Scott, There's, he'll, Moises Diaz Organizations: Service, Business, Research, Gridwise, South, BI, Uber Locations: Arizona, Cleveland , Houston, Fort Lauderdale, Orange County, Los Angeles, Florida, California, South Florida

☆ Your guide to Wall Street analyst research and how to use it like the investing pros
▼ + stars: | 2024-05-30 | by ( Scott Schnipper | ) www.cnbc.com time to read: +10 min

Wall Street sell-side research is a key part of the financial markets, written by analysts working for brokerage firms, investment banks and other institutions. Research reports An analyst's published research report might include a company overview with basic information about a company's business, products and position in the relevant market. This is especially true when an analyst is first initiating research coverage into a particular company or industry. Analyst recommendations affect stock prices every day , especially if an analyst or her firm is highly reputable or believed to hold expertise in a particular area. Contrarian indicators Analyst recommendations can occasionally act as a contrarian indicator , too.

Persons: Merrill Lynch, Henry Blodgett, Merrill Organizations: Research, Wall, Sarbanes, Oxley, Global, Securities and Exchange Commission, National Association of Securities Dealers, CNBC Pro Locations: Sarbanes

☆ GE-spinoff GE Vernova is gaining momentum on three key energy transition themes
▼ + stars: | 2024-05-30 | by ( Spencer Kimball | ) www.cnbc.com time to read: +3 min

GE Vernova is gaining momentum a month after launching as a standalone company, wielding assets that analysts say put the General Electric spinoff in prime position to benefit from the energy transition. GEV 1M mountain GE Vernova, 1 month "Through its robust portfolio of equipment and service offerings, we believe GE Vernova is in prime position to benefit from the 'Energy Transition Trifecta,'" Morgan Stanley analysts Andrew Percoco and Asmita Baskar told clients in a research note this month. Gas is the "bread and butter" of GE Vernova's business, said Maheep Mandloi, director of clean energy research at Mizuho Securities. There is an expectation that increased utilization of gas assets due to rising power demand will benefit GE Vernova's services business, Mandloi said. GE Vernova has reaffirmed its 2024 guidance of $34 billion to $35 billion in revenue.

Persons: Morgan Stanley, Andrew Percoco, Asmita Baskar, Goldman Sachs, Maheep Mandloi, GE Vernova, Scott Strazik, Mandloi, Mizuho, Baskar Organizations: GE Vernova, General Electric, GE, New York Stock Exchange, Investors, Mizuho Securities

☆ What is a catalytic converter and why do people keep stealing them?
▼ + stars: | 2024-05-30 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +6 min

CNN —Johnny Wactor, an actor who formerly starred in “General Hospital,” caught people in the act of stealing the catalytic converter from his car Saturday. But, up to last year, catalytic converter thefts had been rising sharply, up by a factor of four, since 2020. A catalytic converter cleans a car’s exhaust, making the air safer to breathe for all of us. On its website, the US Environmental Protection Agency has called the catalytic converter “one of the great environmental inventions of all time.” But it’s not what the catalytic converter does that attracts desperate criminals. For the most part, the catalytic converters end up getting sold to recycling companies that strip out the materials to make new catalytic converters.

Persons: Johnny Wactor, ”, Wactor, It’s, they’ve, Richard Waitas, That’s, Scott Vollero, Christopher Gaines, you’ve, it’s Organizations: CNN, “, National Insurance, US Environmental Protection Agency, National Automobile Dealers Association, Recycling Locations: Angeles, California

☆ Former FDA Commissioner Dr. Scott Gottlieb on the rise of synthetic nicotine
▼ + stars: | 2024-05-30 | 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 EmailFormer FDA Commissioner Dr. Scott Gottlieb on the rise of synthetic nicotineFormer FDA Commissioner Dr. Scott Gottlieb joins 'Squawk Box' to discuss the rise of synthetic nicotine, the risks and regulation of products that use nicotine-like chemicals, avian-flu concerns, and more.

Persons: Scott Gottlieb Organizations: Former

☆ Watch Thursday's full episode of the Halftime Report — May 30, 2024
▼ + stars: | 2024-05-30 | 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 EmailWatch Thursday's full episode of the Halftime Report — May 30, 2024"Fast Money Halftime Report" is on the front lines of CNBC's market coverage. Host CNBC's Scott Wapner and the Street's top investors get to the heart of the action as it's happening and help set the agenda for the rest of the day. Watch today's full episode on CNBC PRO.

Persons: CNBC's Scott Wapner Organizations: CNBC PRO

☆ Schumer and Senate Democrats call for Justice Department to probe Big Oil for alleged collusion
▼ + stars: | 2024-05-30 | by ( Matt Egan | ) edition.cnn.com time to read: +3 min

CNN —Senate Majority Leader Chuck Schumer and nearly two dozen Democrats pressed the Justice Department on Thursday to launch an industry-wide investigation into Big Oil for alleged collusion and price fixing. The lawmakers urged the DOJ to investigate the oil industry, “hold accountable any liable actors” and halt illegal activity. Last week, congressional Democrats launched an investigation into whether other US oil companies colluded with each other and OPEC. Regulators cited hundreds of text messages Sheffield exchanged with OPEC officials discussing pricing, production and oil market dynamics. “The strategy appears to have worked,” Schumer and his colleagues wrote to the DOJ.

Persons: Chuck Schumer, General Merrick Garland, Schumer, “, ”, Elizabeth Warren, Amy Klobuchar, Bernie Sanders, Dick Durbin, Scott Sheffield, Sheffield “, ” Schumer, Sherman, Sheffield, ” Sheffield Organizations: CNN, Justice Department, Big Oil, Democrats, DOJ, Big, Federal Trade Commission, FTC, Sheffield, Pioneer Natural Resources, OPEC, Pioneer Locations: Texas, Sens

☆ New York Mets look to shift off-field narrative with new content deal
▼ + stars: | 2024-05-30 | by ( Ian Thomas | ) www.cnbc.com time to read: +5 min

Mr. Met poses before the game between the Chicago Cubs and the New York Mets at Citi Field. To that end, the Mets will be working on development, production and distribution with Range Sports, a division of entertainment management firm Range Media Partners. Mets owner and hedge fund manager Steve Cohen is a minority investor in Range through his Point72 Ventures fund. The Mets will be focused on a variety of content, Havens said, from players talking about fashion or what they do in the offseason to storytelling around the culture of Mets fans. "That opens up a bunch of new opportunities to engage Mets fans and non-Mets fans," Havens said.

Persons: it's, Steve Cohen, John Malone's Liberty, David Bonderman, Scott Havens, Havens, Pete Alonso, Jorge Lopez, Will Funk, Greg Luckman, Bradley Cooper, Jack Harlow, Brock Purdy, LIV, WWE's, Cohen Organizations: Chicago Cubs, New York Mets, Citi Field, The New York Mets, Major League Baseball, NBA, NFL, Mets, Sports, Range Media Partners, Point72 Ventures, John, John Malone's Liberty Global, TPG, Business, Bloomberg Media, San Francisco 49ers, CW, LIV Golf, ACC football, WWE's NXT Locations: Queens , New York

☆ Opinion: It’s hard to applaud billionaires – but these few deserve recognition
▼ + stars: | 2024-05-29 | by ( Opinion Jill Filipovic | ) edition.cnn.com time to read: +7 min

But this is the global system we do have and, within it, some billionaires are behaving much more generously and ethically than others. Melinda French Gates is one of the good ones. French Gates has long been an advocate for family planning and women’s rights abroad, and now she’s dedicating $1 billion through 2026 to those issues. Female billionaires, in other words, are far more likely than male ones to give away substantial portions of their wealth. So yes, we can applaud the good billionaires who give their wealth away, even if we think that they are representative of a bigger inequality problem.

Persons: Jill Filipovic, —, Melinda French Gates, French Gates, it’s, She’s, Gates, MacKenzie Scott, Jeff Bezos, Scott, Forbes, Elon Musk, Larry Ellison, Warren Buffett, Larry Page, Ellison, Page, Buffett, Donald Trump’s, Sam Altman, Bill Gates, Scarlett Johansson, that’s, George Soros, doesn’t Organizations: Twitter, CNN, Gates Foundation, The New York Times, Forbes ’, Forbes, Elon, Facebook Locations: New York, United States, French, The, New Zealand, There’s

6:27 a.m.: UBS hikes First Solar price target, sees 25% upside There's a rosy outlook ahead for First Solar , according to UBS. Analyst Jon Windham cited a more supportive pricing environment as one reason for the price target change. The investment bank upgraded the airline to buy from hold, lifting its price target to $65 from $54. — Lisa Kailai Han 5:41 a.m.: Bank of America reiterates Apple as a top pick Apple shares could get a boost as consumers upgrade to AI-enabled phones, according to Bank of America. Analyst Wamsi Mohan reiterated his view that Apple is a top pick, maintaining his buy rating and price target of $230.

Persons: Jon Windham, Windham, Lisa Kailai Han, Scott Gruber, Gruber, LBRT, — Lisa Kailai Han, Morgan Stanley, SLB, Daniel Kutz, Kutz, Jefferies, Sheila Kahyaoglu, Kahyaoglu, Wamsi Mohan, Mohan, Fred Imbert Organizations: CNBC, United Airlines, Apple, United, Jefferies, Bank of America, UBS, Citi, Liberty Energy, of Liberty Energy, Nvidia Locations: Tuesday's, OFS, United

☆ MacKenzie Scott upended philanthropy as we know it. Melinda French Gates is catching on
▼ + stars: | 2024-05-29 | by ( Allison Morrow | ) edition.cnn.com time to read: +4 min

And it’s a style that Melinda French Gates appears to be emulating, at least partly, in her newly solo philanthropic venture. Now independent of that organization, French Gates is free to take bets on organizations and communities regardless of their size or ability to demonstrate their impact. Scott and French Gates’ ex husbands, meanwhile, aren’t getting as many kudos for their charitable work as they might like. Gates, with a net worth of $154 billion, has also faced criticism for the Gates Foundation’s methods. “That can’t happen through the Gates Foundation’s father-knows-best, look-at-me brand of bureaucratic philanthropy.”

Persons: CNN Business ’, New York CNN —, Ivana Trump, Don’t, MacKenzie Scott, Jeff Bezos, Melinda French Gates, Gates, Bill Gates, “ I’m, Scott, it’s, ” Amir Pasic, Indiana University Lilly, ” That’s, ” Pasic, —, Gates ’, aren’t, Bezos, hadn’t, Tim Schwab, ” Organizations: CNN Business, New York CNN, Club, New York Times, Indiana University, Indiana University Lilly Family School of Philanthropy, Women’s, Gates, CNN, Bloomberg Locations: New York, Maui, Bezos, Gates, Nation

☆ Watch Wednesday's full episode of the Halftime Report — May 29, 2024
▼ + stars: | 2024-05-29 | 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 EmailWatch Wednesday's full episode of the Halftime Report — May 29, 2024"Fast Money Halftime Report" is on the front lines of CNBC's market coverage. Host CNBC's Scott Wapner and the Street's top investors get to the heart of the action as it's happening and help set the agenda for the rest of the day. Watch today's full episode on CNBC PRO.

Persons: CNBC's Scott Wapner Organizations: CNBC PRO

☆ If you answer ‘always’ to these 8 questions, you're more mentally strong than most
▼ + stars: | 2024-05-29 | by ( Scott Mautz | In Scottmautz | ) www.cnbc.com time to read: +5 min

I've spent 30 years studying what makes people, and especially leaders, mentally strong. DON'T MISS: The ultimate guide to becoming a master communicator and public speaker Here's a mini-assessment: If you answer "always" to these eight questions, you're mentally stronger than most. Mentally strong people find and focus on the opportunity in adversity, rather than the threat. Mentally strong people think: "I'm prepared for this challenge." Mentally strong people know that boldness leads to growth.

Persons: I've, Here's, I'm

☆ Jim Chanos calls suit accusing him of embezzling funds 'baseless and defamatory'
▼ + stars: | 2024-05-29 | by ( Yun Li | ) www.cnbc.com time to read: +1 min

Famed short seller Jim Chanos called a lawsuit accusing him of embezzling funds for personal use, "false, baseless and defamatory." "As Mr. Conlon knows, the internal loan was paid off in 2021, and since 2019 I have put over $30 million into my company," Chanos said in the statement. "Indeed, all of my fellow management company partners have lost money over the past few years, none more than me. Mr. Conlon is simply trying to mitigate his losses by this crude shakedown attempt." Meanwhile, the suit said Chanos' girlfriend, Crystal Conners, was the sales agent on the transaction, which would have made $540,000 at standard commission rates, Bloomberg reported.

Persons: Jim Chanos, Chanos, CNBC's Scott Wapner, Sean Conlon, Conlon, Conlon didn't, Tesla, Crystal Conners Organizations: Chanos, Conlon Holdings, Bloomberg News, Enron, Bloomberg Locations: Chicago, New York, Miami

Activist investor Nelson Peltz has sold his entire stake in Disney , a person familiar with the matter tells CNBC. Peltz sold all of his Disney stock at roughly $120 dollars a share, the person said, making about $1 billion on the position. The exit comes weeks after Peltz's Trian Partners lost a proxy battle at Disney in early April as shareholders reelected the company's full slate of board nominees. Peltz had long taken issue with Disney governance. "We are proud of the impact we have had in refocusing this Company on value creation and good governance," Trian said in a statement following the April shareholder vote.

Persons: Nelson Peltz, Peltz, Peltz's Trian, Jay Rasulo, Bob Iger, Trian, Disney didn't Organizations: Disney, CNBC, Peltz's Trian Partners Locations: refocusing

☆ Nelson Peltz's Trian reportedly sells out of Disney stock at $120 per share, according to source
▼ + stars: | 2024-05-29 | 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 EmailNelson Peltz's Trian reportedly sells out of Disney stock at $120 per share, according to sourceCNBC's Scott Wapner joins 'Fast Money' with breaking news that Nelson Peltz's Trian dissolves its Disney share at $120 per share according to a source.

Persons: Nelson Peltz's Trian, Scott Wapner, Nelson, Trian

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