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☆ Wells Fargo says Disney shares to rally 60% with Iger's possible divestitures adding $10 a share
▼ + stars: | 2023-07-14 | by ( Michelle Fox | ) www.cnbc.com time to read: +1 min

Wells Fargo is bullish on the potential sale of Disney 's noncore linear assets. Disney's segment operating income compound annual growth rate is currently 15% and could jump to 20% with the divestitures, Cahall calculated. "They may not be core to Disney," Iger told CNBC's David Faber at Allen & Co.'s annual conference in Sun Valley, Idaho. Disney's TV network portfolio includes ABC and ESPN, although Iger said he's open to finding a strategic partner with ESPN . Wells Fargo sees the potential sale of the TV assets as just one step in the company's turnaround plan.

Persons: Wells, Steven Cahall, Bob Iger, Iger, CNBC's David Faber, Wells Fargo, Cahall, Rome wasn't, Iger's, — CNBC's Michael Bloom Organizations: Disney, ESPN, Allen & Co, ABC Locations: Sun Valley , Idaho, Rome

☆ DeSantis claims that Disney sexualizes children are 'preposterous,' CEO Bob Iger says
▼ + stars: | 2023-07-13 | by ( Kevin Breuninger | ) www.cnbc.com time to read: +3 min

Disney CEO Bob Iger on Thursday rejected Florida Gov. Ron DeSantis' campaign rhetoric against the company, calling the Republican presidential candidate's attacks "preposterous and inaccurate." Following Disney's criticism, the Florida officials targeted the special tax district that for decades had allowed Walt Disney World to essentially self-govern its Florida operations. A DeSantis campaign spokesman declined to comment on Iger's remarks, telling CNBC, "The governor's statements to date are our position." The lengthy interview Thursday morning came less than a day after Disney announced that Iger would stay on as CEO through 2026.

Persons: Bob Iger, Ron DeSantis, Iger, DeSantis, Bob Chapek, Walt, I'm, Disney, Donald Trump's Organizations: Disney, Florida Gov, Republican, CNBC, Walt Disney, DeSantis Locations: Florida

☆ Bob Iger basically kicked off an auction today, says RSE's Matt Higgins
▼ + stars: | 2023-07-13 | 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 EmailBob Iger basically kicked off an auction today, says RSE's Matt HigginsJeff Sonnenfeld, Yale School of Management, and Matt Higgins, RSE Ventures co-founder and CEO, join 'Last Call' with reaction to Disney CEO Bob Iger's comments about the future of Disney's TV assets.

Persons: Bob Iger, RSE's Matt Higgins Jeff Sonnenfeld, Matt Higgins, Bob Iger's Organizations: Yale School of Management, RSE Ventures, Disney, Disney's

☆ Watch CNBC's full interview with Yale's Jeff Sonnenfeld and RSE's Matt Higgins
▼ + stars: | 2023-07-13 | 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 CNBC's full interview with Yale's Jeff Sonnenfeld and RSE's Matt HigginsJeff Sonnenfeld, Yale School of Management, and Matt Higgins, RSE Ventures co-founder and CEO, join 'Last Call' with reaction to Disney CEO Bob Iger's comments about the future of Disney's TV assets.

Persons: Yale's Jeff Sonnenfeld, RSE's Matt Higgins Jeff Sonnenfeld, Matt Higgins, Bob Iger's Organizations: Yale School of Management, RSE Ventures, Disney, Disney's

☆ Longer-term issue for Disney is around direct-to-consumer: SVB MoffettNathanson's Michael Nathanson
▼ + stars: | 2023-07-13 | 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 EmailLonger-term issue for Disney is around direct-to-consumer: SVB MoffettNathanson's Michael NathansonMichael Nathanson, SVB MoffettNathanson founding partner and senior research analyst, joins 'Squawk on the Street' to discuss Disney outlook following CEO Bob Iger's interview with CNBC's David Faber.

Persons: MoffettNathanson's Michael Nathanson Michael Nathanson, SVB, Bob Iger's, CNBC's David Faber Organizations: Disney

SummaryCompanies Delta rises on FY profit forecast raisePepsiCo gains on lifting FY revenue, profit outlookJune PPI data due at 8:30 a.m. A slower rise in prices has boosted hopes that the Federal Reserve could soon end its monetary tightening campaign. Economists polled by Reuters expect producer inflation to have eased to 0.4% over the 12 months through June from 1.1% in the previous month. ET, Dow e-minis were up 54 points, or 0.16%, S&P 500 e-minis were up 15 points, or 0.33%, and Nasdaq 100 e-minis were up 107.25 points, or 0.69%. Overall, earnings for the S&P 500 constituents are expected to have dropped 6.4% in the second quarter, Refinitiv data showed.

Persons: Michael Hewson, Walt Disney, Robert Iger's, Christopher Waller, Johann M Cherian, Saumyadeb Chakrabarty, Maju Samuel Organizations: PepsiCo, Dow, Nasdaq, Federal Reserve, Reuters, Traders, CMC Markets, Dow e, Delta Air Lines, Meta, Fed, Thomson Locations: Bengaluru

☆ Disney is open to finding a new strategic partner for ESPN, Iger says
▼ + stars: | 2023-07-13 | by ( Alex Sherman | ) www.cnbc.com time to read: +4 min

Disney has held off from putting its prime ESPN content on its ESPN+ streaming service as it continues to make billions of dollars in revenue each year through traditional cable TV. Disney has held early conversations with potential partners that could improve an ESPN streaming service by extending its distribution and adding content, Iger said. Disney is open to potentially selling an equity stake in ESPN and is looking for a strategic partner in the business as it prepares to transition the sports network to streaming, CEO Bob Iger said Thursday. But in the traditional cable TV business model, ESPN made money per cable subscriber — whether a person watched or not. In addition to finding a strategic partner for ESPN, Iger said he was open to selling or spinning off Disney's legacy cable networks, including FX and NatGeo, and its broadcast group, ABC Networks.

Persons: Iger, CNBC's David Faber, Bob Iger, Brian Roberts, Bob Chapek Organizations: Disney, ESPN, Hearst Communications, CNBC, FX, ABC Networks, Comcast, Apple, Google, Amazon, National, YouTube, Major League Soccer Locations: Sun Valley , Idaho, Hulu

☆ Bob Iger says Disney's TV and cable business 'may not be core' and leaves the door open to a sale
▼ + stars: | 2023-07-13 | by ( Lucia Moses | ) www.businessinsider.com time to read: +4 min

Disney's Bob Iger said the company's TV and cable businesses may not be core. Disney's no-growth TV and cable businesses "may not be core" to the company and it will be "expansive" about how it treats them, CEO Bob Iger said. Iger said that while cable TV had declined faster than he expected, Disney's parks business is doing well, the studio business has been successful, and streaming has a bright future. There's been industry speculation that Disney might sell ESPN; Iger stressed that Disney was committed to the business. On recent box office misses in Pixar's "Elemental" and "The Little Mermaid," Iger acknowledged Disney's zeal to grow its streaming business contributed to some "disappointments."

Persons: Bob Iger, Iger's, Iger, he's, We've, There's, supercharging Organizations: Disney, Hulu, ESPN, Morning, CNBC, WGA, SAG

☆ Inside Bob Iger's Disney contract extension: a CEO moving to protect his legacy and get succession right this time
▼ + stars: | 2023-07-13 | by ( Lucia Moses | Reed Alexander | ) www.businessinsider.com time to read: +5 min

Disney extended CEO Bob Iger's contract for 2 years, through the end of 2026. Company watchers won't be shocked by the move, since Iger extended his previous tenure in the role many times. Insiders said he wants to protect his legacy and stabilize the business, especially after the exit of its CFO. Disney just extended Bob Iger's contract for two more years, through 2026, the company announced today. Iger pledged at the time to prioritize finding a successor, but he has extended his contract before — four times during his first 15-year tenure.

Persons: Bob Iger's, Iger, Bob Chapek, Dave Heger, Edward Jones, Heger, Christian Knaebel, Christine McCarthy, Disney, — here's, Chapek, Jay Rasulo, Kevin Mayer, Tom Staggs, Dana Walden, Alan Bergman, Iger's reorg, Dana, who's, Bergman, Walden, Meta execs Sheryl Sandberg, Carolyn Everson, Josh D'Amaro, Jimmy Pitaro, Adam Silver, Silver, Andrew Wilson Organizations: Disney, Hollywood, Writers Guild of America, SAG, Longtime, Disney Entertainment, Pixar, ESPN, National Basketball Association, EA Locations: Iger

☆ Disney CEO Iger opens door to unloading TV assets as linear business struggles
▼ + stars: | 2023-07-13 | by ( Lillian Rizzo | ) www.cnbc.com time to read: +4 min

Disney CEO Bob Iger opened the door to selling the company's linear TV assets as the business struggles during the media industry's transition to streaming and digital offerings. "We've gotten a lot done very quickly, significant cost reductions and significant realignment of the company," Iger said. Disney reorganized into three segments: Disney Entertainment, which includes most of its streaming and media operations; an ESPN division; and a parks, experiences and product unit. In addition to looking for his next successor, Iger has been tasked with bringing Disney's streaming business to profitability. It's likely Comcast will sell its Hulu stake to Disney at the beginning of 2024, CNBC previously reported.

Persons: Bob Iger, Iger, Disney's, Bob Chapek, CNBC's David Faber, Faber, he's, We've, Nelson Peltz, weren't Organizations: Disney, CNBC, Allen, Co, Disney Entertainment, ESPN, Netflix, Wall, Comcast Locations: Idaho, Hulu, It's

☆ Disney CEO Bob Iger says it's 'preposterous' that DeSantis suggests the company is sexualizing children
▼ + stars: | 2023-07-13 | by ( Brent D. Griffiths | ) www.businessinsider.com time to read: +3 min

Disney CEO Bob Iger blasted Florida Gov. Ron DeSantis for suggesting that the company is sexualizing children. DeSantis has repeatedly torched Disney since the company, under former CEO Bob Chapek, publicly opposed the governor's signature parental rights in education law that critics deemed "Don't Say Gay." "That was horrifying, quite frankly," Iger said. Despite all the back and forth with DeSantis, Iger emphasized that his goal is to try to steer the company out of the political debate.

Persons: Bob Iger, Ron DeSantis, DeSantis, Iger, CNBC's David Faber, Bob Chapek, Bryan Griffin, Disney, We've Organizations: Disney, Florida Gov, Service, Nazi, Disney World, Media, White Pride Locations: Florida, Wall, Silicon, Orlando

☆ CNBC Daily Open: Prices are low and markets are high
▼ + stars: | 2023-07-13 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

The U.S. consumer price index report showed that inflation fell to its lowest annual rate in more than two years during June. (Photo by Joe Raedle/Getty Images)This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Excluding food and energy prices, core CPI was 0.2% higher month on month and 4.8% higher on an annual basis. Highest close this yearU.S. stocks advanced Wednesday, with the S&P 500 and the Nasdaq Composite closing at their highest level since April 2022, after the cooler-than-expected inflation report.

Persons: Joe Raedle, Dow Jones, xAI Elon Musk, xAI, Bob Iger, Bob Chapek, Barbie let's, Greta Gerwig, Roth Organizations: CNBC, Nasdaq, SpaceX, Twitter, Google, Magic, Disney Locations: Miami , Florida, The U.S

☆ Disney little changed after Iger contract extension. Here's what the pros are saying
▼ + stars: | 2023-07-13 | by ( Joshua Natoli | ) www.cnbc.com time to read: 1 min

Market Movers rounded up the best reactions from investors and analysts on Disney . The pros, including Jim Cramer , discussed the theme park operator after it extended CEO Bob Iger's contract through 2026. Iger returned to the post late last year, following the sudden departure of former CEO Bob Chapek. Iger admitted navigating the media landscape had proven harder than he had expected when he was renamed CEO. Disney shares hardly budged after news of the contract extension surfaced and are up around 1% year to date.

Persons: Jim Cramer, Bob Iger's, Iger, Bob Chapek, CNBC's David Faber Organizations: Disney, Trust

☆ Stocks making the biggest moves midday: Nvidia, Carvana, Disney, Amazon and more
▼ + stars: | 2023-07-13 | by ( Brian Evans | ) www.cnbc.com time to read: +2 min

Check out the companies making headlines in midday trading. Alphabet — The Google-parent company added 4.4% after launching its large-language model, Bard AI, in Brazil and the European Union. Cirrus Logic — The chipmaker fell more than 3% in midday trading after Cirrus announced in an 8K filing plans to slash 5% of its workforce. Nvidia invested $50 million into Recursion to help drive AI-based drug discovery, the company said Wednesday. Progressive — Shares of the insurance company fell about 11% after Progressive reported results for June and the full second quarter.

Persons: Bard, Bob Iger's, Carvana, SoFi, Morgan Stanley, Tobi Lutki, —, Samantha Subin, Yun Li, Jesse Pound, Michelle Fox, Alex Harring Organizations: Google, European Union, Cirrus, Nvidia, Disney —, Bank of America, Disney, JPMorgan, Viasat – Viasat, Viasat, Amazon, Progressive Locations: Brazil, Americas

☆ Stocks rise, but Cramer cautions investors to 'temper enthusiasm'
▼ + stars: | 2023-07-13 | by ( Morgan Chittum | ) www.cnbc.com time to read: +3 min

Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. Stocks rise on inflation data Stick with Disney Watch Meta 1. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

Persons: Jim Cramer, Walt Disney, Bob Iger, Jim, Cowen, Mark Zuckerberg's, —, TD Cowen, Jim Cramer's Organizations: CNBC, Disney Watch, U.S . Labor, Federal Reserve, Nasdaq, Disney, Inc, Meta

☆ Stocks making the biggest moves premarket: Delta Air Lines, PepsiCo, MillerKnoll and more
▼ + stars: | 2023-07-13 | by ( Sarah Min | ) www.cnbc.com time to read: +3 min

Delta posted adjusted earnings per share of $2.68 cents, more than the $2.40 expected by analysts polled by Refinitiv. It gained adjusted revenue of $14.61 billion, greater than the $14.49 billion consensus estimate. MillerKnoll posted adjusted earnings of 41 cents per share on revenues of $957 million. PepsiCo — The beverage stock rose 2% after PepsiCo on Thursday beat earnings and revenue expectation in its recent results, and raised its full-year outlook. The firm reported adjusted earnings of $2.09 per share, more than the $1.96 per share consensus estimate from Refinitiv.

Persons: MillerKnoll, Noguchi, Eames, Refinitiv, Bob Iger's, Iger, Carvana, Bard chatbot, Morgan Stanley, SoFi, — CNBC's Michelle Fox, Jesse Pound Organizations: Delta Airlines, JFK International, Delta Air Lines, Air Lines, Refinitiv, PepsiCo, Walt Disney Company, Disney, CNBC, ViaSat, JPMorgan, European Union, Financial, Microsoft, Cirrus Logic, Barclays Locations: New York City, Americas, Brazil

☆ Disney extends CEO Bob Iger's contract through 2026
▼ + stars: | 2023-07-12 | by ( ) www.reuters.com time to read: +1 min

The board said in a statement that it aimed to maintain "continuity of leadership during the company’s ongoing transformation." Terms of his contract include opportunity to receive an annual incentive bonus of five times his base salary. In his previous contract, he was entitled to an estimated $27 million per year in total compensation. Meanwhile, the television business is confronting long term and likely irreversible declines in audiences. In February, Disney said it would cut 7,000 jobs in a major overhaul to save $5.5 billion in costs.

Persons: Walt Disney's, Robert Iger's, Iger, Bob Chapek, Disney, Yuvraj Malik, Kenneth Li, Shailesh Kuber, David Gregorio Our Organizations: Disney, Thomson Locations: Bengaluru, New York

☆ Disney extends CEO Bob Iger's contract to 2026
▼ + stars: | 2023-07-12 | 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 EmailDisney extends CEO Bob Iger's contract to 2026CNBC's David Faber joins 'Fast Money' with breaking news that Disney is extending Bob Iger's contract to 2026.

Persons: Bob Iger's, CNBC's David Faber Organizations: Disney

☆ Disney extends CEO Bob Iger's contract through 2026, two years longer than planned
▼ + stars: | 2023-07-12 | by ( Sarah Whitten | ) www.cnbc.com time to read: +5 min

The Walt Disney Company will extend CEO Bob Iger's deal by two years, extending his tenure through 2026. Iger returned to Disney in November, retaking the job from Bob Chapek, who was appointed CEO in early 2020. On four different occasions between 2013 and 2017, he extended his tenure as CEO after saying he planned to retire. Tune in: CNBC's David Faber will interview Disney CEO Bob Iger on CNBC's "Squawk Box" at 8 a.m. To that end, I'm writing to share that I have agreed to the Disney Board's request to remain CEO for an additional two years – through the end of 2026.

Persons: Bob Iger's, Iger, Bob Chapek, Iger's, CNBC's David Faber, Bob Iger, We've, we've, Christine McCarthy, Bob, Mark Parker, Read, I've, It's, Bob — CNBC's Alex Sherman, Kerry Caufield, David Faber Organizations: Walt Disney Company, CNBC, Disney, Netflix, Warner Bros . Discovery, Paramount, Pixar

☆ Watch CNBC's full panel on Bob Iger and Disney with Ben Smith and Matt Belloni
▼ + stars: | 2023-07-12 | 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 CNBC's full panel on Bob Iger and Disney with Ben Smith and Matt BelloniBen Smith, Semafor co-founder and editor-in-chief, and Matt Belloni, Puck founding partner, join CNBC's Julia Boorstin and 'Last Call' to talk the latest news that Disney will be extending CEO Bob Iger's contract through 2026.

Persons: Bob Iger, Ben Smith, Matt Belloni Ben Smith, Semafor, Matt Belloni, Puck, CNBC's Julia Boorstin, Bob Iger's Organizations: Disney

☆ Failing to find a successor for Iger can be seen as a failing for Disney's board: Puck's Matt Belloni
▼ + stars: | 2023-07-12 | 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 EmailFailing to find a successor for Iger can be seen as a failing for Disney's board: Puck's Matt BelloniBen Smith, Semafor co-founder and editor-in-chief, and Matt Belloni, Puck founding partner, join CNBC's Julia Boorstin and 'Last Call' to talk the latest news that Disney will be extending CEO Bob Iger's contract through 2026.

Persons: Matt Belloni Ben Smith, Semafor, Matt Belloni, Puck, CNBC's Julia Boorstin, Bob Iger's Organizations: Disney

☆ Disney CEO Bob Iger Extends His Tenure Again, Will Stay 2 More Years
▼ + stars: | 2023-07-12 | by ( Reed Alexander | Lucia Moses | ) www.businessinsider.com time to read: +3 min

Disney CEO Bob Iger is sticking around for another two years, the company announced Wednesday. That means his contract, previously set to expire next year, will now run through the end of 2026. Iger surprised Disney watchers and company insiders when he returned to the post last year, unseating his short-lived successor, Bob Chapek. Walt Disney Co. CEO Bob Iger is sticking around for another two years, with his contract now set to expire on December 31, 2026, the company said on Wednesday. Iger, who formerly led Disney from 2005 to 2020 before relinquishing the CEO role to his short-lived successor Bob Chapek, returned to the entertainment and theme parks giant in a shock move last November.

Persons: Bob Iger, Iger, Bob Chapek, Bob, Mark G, Parker, Disney's, — Organizations: Disney, Morning, Walt Disney Co, Wall Street, Guild of America, SAG, New York Times

☆ Stock futures tick up after S&P 500 notches highest close since April 2022: Live updates
▼ + stars: | 2023-07-12 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., July 12, 2023. Stock futures inched higher in overnight trading after the S&P 500 closed at its highest level in over a year. Futures tied to the S&P 500 rose 0.1%, while Nasdaq 100 futures added nearly 0.2%. The S&P 500 and Nasdaq Composite jumped 0.74% and 1.15%, respectively, to hit their highest closing levels since April 2022. The early innings of second-quarter earnings season continues Thursday with results from PepsiCo , Delta Air Lines and Fastenal before the bell.

Persons: Bob Iger's, Stocks, Fundstrat's Tom Lee, CNBC's Organizations: New York Stock Exchange, Stock, Disney, Nasdaq, Dow Jones Industrial, Federal, Dow Jones, PepsiCo, Delta Air Lines Locations: New York City, U.S

☆ Tiger Global pulls back on raising new capital and focuses on returns, amid brutal fundraising environment
▼ + stars: | 2023-07-12 | by ( Darius Rafieyan | ) www.businessinsider.com time to read: +3 min

At the same time the company continues to raise money for its latest venture capital fund. For years, Tiger Global, Chase Coleman's $50 billion investment fund, went on a fundraising tear, raising billions of dollars in fresh capital and dominating the venture ecosystem in the process. This includes the firm's flagship hedge fund as well its crossover fund, created in 2021, which combines Tiger's public and private investments into a single strategy. Between July 2022 and July 2023 the Tiger Global fund, the Tiger Global Crossover fund, and the Tiger Global Long Opportunities fund, through their US and Cayman Islands feeder funds, raised about $53 million in total. A spokesperson for Tiger Global declined to comment for this story.

Persons: Chase, Carlyle, TCV, Tiger Organizations: Tiger, SEC, Tiger Global, Apollo, TPG, Insight Partners Locations: Cayman Islands, PitchBook

☆ Big relief for our two bank stocks, but new worries about Disney shares
▼ + stars: | 2023-06-29 | by ( Christopher Alessi | In | ) www.cnbc.com time to read: +3 min

Every weekday the CNBC Investing Club with Jim Cramer holds a Morning Meeting livestream at 10:20 a.m. Watch WFC, MS Big U.S. banks — including Club holdings Wells Fargo (WFC) and Morgan Stanley (MS) — passed the Fed's annual stress test Wednesday. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

Persons: Jim Cramer, Jeff Marks, Marks, Morgan Stanley, —, we've, Bob Iger's, Jim Cramer's, Jim Organizations: CNBC, Commerce Department, Labor Department, Federal Reserve, Treasury, Big, Wells, Silicon Valley Bank, Walt Disney Locations: U.S, Wells, Silicon

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