one thing iger said to me is even disney isn't big enough, and disney's to compete right now. so despite the fact they loaded it up with debt, with the fox acquisition stuff, it was still an important acquisition just like the pixar one, et cetera. >> i'm being a bit provocative, but i think there's a method to it over the past 20 years now, if we kind of count on iger's supposed exit in about two years, around 2025, he spent about half that time with one foot either out the door or back in the door. and there's a cost to that, right? if you're a talented executive at disney, who has been thinking maybe you have a chance to move up based on what iger says he's going to do, you have had so many false starts. disney lost a lot of talent because of iger either deciding not to leave or then picking chapek in the first place and now he's coming back and somebody who is a great option isn't ready yet he had more than a decade to prepare the next generation of leaders. so why -- i mean, granted, yes, he's an excellent executive, one of the best ever if not the best ever at a media co

can disney afford to gobble up any more competitors out there? probably not right now and i slow down and just really i stop the hemorrhaging. i think one interesting thing i wanted to point out before we go here is that read hastings ahead of netflix tweet out, you know, he was disappointed he'd hope bed above either was actually going to run for president, and he liked him so much. so it's interesting to see editor like netflix, kind of, you know, joking about either is, is coming back. so it'll be interesting to see what he does. ah, he's got a lot of work ahead of him. not just fixing the company currently right now, but also setting the stage for his predecessor to come in to make sure that they don't make the same mistake they did with by changing exactly not the we landed the exact same place we are in 2 years from now katie matthews, thank you very much for timing it against quarter. our guy on wall street, some of the other global business stories making news now, begging is tightening entry rules and shutting businesses. and schools and

i don't know disney+. do you stay with overall -- you know, general entertainment or refocus in on what they do so well with kids entertainment. it's not going to be the behemeth like people thought i don't know what i would do with -- and the theme park disney is still great too. i might -- i go all the way back, do you remember touchstone that's where they did down and out in beverly hills all of this adult fare and they really know kids they know pixar. they have great assets here. i'm not sure i would be trying to find hits in the adult world, so to speak. >> but they bought fox and fx and all of those sets for a reason and that was to capture that adult fare. one of the questions i've heard about this morning talking to just a number of people is, does this change the dynamic around hulu, the future of hulu bob chapek has been public about wanting to own that asset to buy stake in that asset eventually brian roberts talked about how much he would have like to buy that asset does that possibility open

everything to do with disney. we will dive into that story for now, s&p 500 down about 0.3 percent, repairing the losses from earlier. we're looking at 3.82 in the 10-year. it is a holiday week, so you have quite trading, low-volume, all that factoring into the bond market. more volatile than expected is the currency market. check out the dollar, stronger to the tune of 0.8%. it's not even hitting the commodity market by a bigger margin. crude trading in at an 87 handle. those rumors of an increase moving the market lower, then denial from the saudis, moving the market higher. we will dive and all of that in the next 30 minutes. amber: absolutely. i am tracking m&a monday. let's look at biotech in the housing sector in canada. getting taken out, not bad for a country that just went public last summer. housing slowdown in this country help a major investor willing to skip up home capital at more than 60% premium. i'm also tracking shares of draftkings, which are under pressure on reports that some user accounts hav

let's turn now, to disney. after the bombshell announcement that bob iger is coming back to the company, ross gerber is ceo of gerber kawasaki, and most importantly, a disney shareholder. your reaction? ross: i was so happy, when i saw the news last night, i thought i was dreaming. it was like my dream came true. bob chapek had been writing the business into the ground and he had made crucial errors in handling some very difficult situations, and it was time to really refocus the business back on creating great content for a reasonable cost. caroline: so, in terms of your prioritization here, and i want to bring to our audience a poll that we went to twitter with -- i know you have thousands of followers, but we were shining a light on what we think that prioritization should be now. is it the cost controls? is that the streaming perspective at the moment? is it the internal management of the business? because bob chapek himself had made some very criticized decision-making when it comes to the politics within

ed: let's turn now to disney. after the bombshell announcement bob iger is coming back to the company. the ceo of gerber kawasaki, and importantly a disney shareholder. your reaction. >> i was so happy when i saw the news last night. i thought i was dreaming. it was like my dream came true. raw -- bob chapek in the business into the ground and had made some crucial errors handling difficult situations but it was time to refocus the business back on creating great content for a reasonable cost. caroline: in terms of your prioritization and i want to bring to our audience a pole we went to twitter with. i know you are a big player on twitter with hundreds of thousands of followers but we have been shining a light on what we think the player attains age and should be now. is that the cost controls? is that the streaming perspective at the moment? bob che peck himself had made some criticize decision-making when it comes to the politics within florida and what the company stands for. from your perspective streaming st

disney shows have dropped by 40 percent this year . check was hand picked by aga, but he also faced one of the most challenging periods in company history with the pandemic. and then spiraling inflation, which is now by his job to deal with. under his leadership, disney acquired pixar marvel, and lucas film, international editor of broadcast magazine, john elm says, i go, we'll have to work his magic as he faces the same economic head winds as all streaming giants. i think that, you know, wall street analysts have moved, gone from the idea of subscriber growth being the key metric to success and it's all about profitability. so they're having to make some really tough decisions including job cuts and stuff like that and contents spend. so he's facing that problem, and there's also the fact he, you know, he retired 11 months ago, he was 11 months into his retirement hit overseen disney at the peak of its powers to, you know, i should in the launch of disney plus and the sale. so the accuracy of 21st century that he'd really done what he

this is disney, of course. an outlier on the day, as bob iger is coming back as ceo for two years, as bob chapek is kicked out. that said, with a $23 million pay package. this is expected to be a big move. bob iger had been with the company for four years as ceo. he needs to reignite growth and find a permanent replacement. as further weakness on the day, it is the commodity complex with wti crude down on the year about 1%. up slightly over the past two years. but crude oil is breaking down. if it continues to break down, it may side with the idea of risk assets going down. oil is down today on the report that saudi arabia could increase output. finally, they down commit down, down for commodities is also metals. aluminum, copper, tin and palladium -- all of this down -- and all on the china story. guy: it is interesting new bring up those points, because oil is down, yeah there is that wall street journal report, but commodities have dropped the ball. it's down to what is happening in china, so i wonder whethe

disney is disney disney has a great mode, a great content, but disney still lives in the macro environment, and we're still not seeing the full impact of a recession or tick higher in unemployment on disney are we i've been trying not to over-complicate the situation. i think they're still trending lower. so we're not going to find a bottom until way into 2023 inflation is way too high. it's not a long-term setup we've seen that support, so it's precarious given where it's trading. by trying to take a step back i think it's a reasonable value here just thinking about what dan is talking about, you know, where are we relative to peak losses you have the ad tier that's going to at least help rpu these are important overall, but they're particularly important in this market i keep pounding the table on profitability. i think the long-term focus there is very good i think overall content is probably coming down, so it makes the economics more rational, going out a number of quarters, but i think the focus on making sure streaming become net cash flow positive is really important, but they're g

basically the market giving disney a netflix-like valuation for the entire company not just for disney plus streaming. it's real signaling arguably two disney management, spend, spend, spend, get subscribers and that's what the game s.then it's down they were at parity for a little while, going right sideways, netflix with disney and then netflix has a recent rebound and disney seemingly a little caught in between sara. >> really interesting, mike. thank you. mike santoli, for that setup for more on bob iger's return led bring in cnbc's david mayber who has long covered 'tis any. this man, the stock. what has led to that >> i think very few people would have anticipated it would mean bob iger's return. not so much surprised that bob chapek was not having an easy go of it due to errors along the way. the board has indicated to me that there had been true concern or heightened concern about his leadership, and that was after this most recent earnings report, a significant miss from analyst estimates but even more so just the costs associated with the direct consumer efforts, disney plus,

stock and disney itself. florida is such an important operating unit for them. and so as a ceo, you can only have so many missteps before you reach a point where your top management team is not pulling in the same direction and i think chapek reached that point. >> the board obviously lost confidence in bob chapek as ceo. in that statement in the release, we get an idea the board is looking to keep iger on for two years. he will set the strategic direction for the company and maybe more importantly, find his eventual successor alex, you mentioned you are looking for the "it" factor that bob iger had who would fill those shoes when he has to find a successor >> a very big question disney for decades has been awful at the succession policy even back to the iger days they found it very hard to replace iconic ceos. no one is more iconic than bob iger it is going to be front of his mind because in terms of his legacy, one of the biggest failings was able to run a good succession process and anoint someone who will

disney silence was, was, was palpable allowed. and he got a lot of condemnation from scott because they're very inclusive employer and the employee spell. but he hadn't spoken out strongly enough and then when he did speak out strongly, he kind of went the other way and he threw some criticism from the local, the local politicians, including dissenters, whose of late i'm running for president. so quite, quite a couple of reasons. they're about looking ahead. what challenges does bob eiger face in this role? well, i think he faces the, the, the, you know, the economic headwinds, the, the, the entertainment industry is, is facing at the moment. you know, all the big companies that have streaming platforms, netflix, amazon, disney plus what brought discovery with hbo max though for facing really tough choices in terms of how to make sure that their, their businesses are profitable. i think that, you know, wall street analysts have moved on from the idea of subscriber growth being the key metric to success. and it's all about profitab

. >>> the disney board ousting bop chapek and replacing him with his predecessor, bob iger. is the old boss coming back to a new media landscape the right move we'll debate that. >>> outbreak in china, 26,000 cases on sunday. beijing tightening the covid controls market ripple effects coming up. h hero to almost 0, 300 bucks a share one year ago to 7 today. i'm melissa lee, this is "fast money" tim seymour, courtney garcia, and for the best day since december 2020, the move coming off the company announced bob iger would return to the helm o. of the media and entertainment giant. with today's gains, disney is down 37% this year has been cut in half from its all time highs hit in march of last year. can old blood breathe new life back into this storied stock tim, your tame >> i think the song is meet the new boss, same as the old boss i think the who do it better the second time. bob iger is a cult hero in ceo land, and i think it's great to have him back. as a shareholder, as it relates to where the media business is going, and the different parts of the business and distrib

i'm sorry. >> disney shares -- >> did you go back to disney >> well, disney is the outperformer this morning. >> you wrecked our whole weekend. >> it's up 9%, 8.78%, but none of the challenges that were there yesterday have disappeared. >> no, but you can -- >> so, bob iger is going to have to navigate a very difficult streaming world, so to speak, in the sense of where investors do expect a level of profitability. the company has promised fiscal year 24 would be that year of profitability, but we still don't know the ultimate profitability. >> we're not just going to run for willy-nilly growth >> they already have raised price. they do have the add tier that's just begun >> it could be very good they've got the theme parks. how about if he says -- you're going to make fun of me and i don't care, because i was right last week. how about saying that the department that chapek ran and knew so well was the one that should have expanded in the same way the network we we work for, comcast, they should be expanding theme parks. disney has a lot of land >> you had said that he should be rep

brands isn't the best use of disney's resources the shangly disney land just shut down four days after reopening due to chinese covid requirements, so it's a lot more complex of a landscape than it was when he left the ceo role back in february 2020. deirdre, over to you. >> julia, thanks very much for the rundown. >>> for more on bob iger's return, the shifting media landscape and the state of venture capital i'm joined by wndrco co-founding partners jeffrey katzenberg and sujay jaswa. jeffrey was former chairman of the walt disney studios and dreamworks animation sujay, was dropbox's first executive. good morning, and thanks for having us. >> great to be with you. >> so let me start with you, you have lived through leadership transition at disney and streaming challenges disney and bob iger have to confront both of those now at the same time. can iger be successful can he satisfy both the creatives and wall street? >> i think recently the population of planet earth is now at 8 billion here's the thing i'm certain of. of 8 billion people, they got the person who has the greatest chanc

why has disney brought bob iger back? rachel: there is no surprise that the ceo who has just been ousted has not been doing well. disney had a rough well. their streaming platform is looking shaky with enormous losses. their stock price is down 40% in one year, which is the most since the 1970's. it is not a surprise. bob iger was a very high-profile, very successful ceo. to some extent, turning to bob iger it speaks to another problem disney has, which it does not have that bench of leadership talent. it does not have that bench of succession. that is one of the things people will be looking to bob iger to fix. tom: that was a key question towards the end of his reign. who is going to replace you? they kept extending his contract. what are the challenges that iger is going to face now that he is back in the hot seat? rachel: exactly, and i think the immediate thing people will want to see firm iger is a stabilization of disney's most important businesses, theme parks and the streaming platform. we know the streaming plat

we're going to talk about disney n a few moments, but disney alone is responsible for the loss with the dow. we're also watching treasury yields right now it looks like the 10-year is yeeling just around 4.61%. it's below the 4.7% we saw yesterday. and we're keeping an eye on crypto prices, too, after binance stepped in to bail out ftx amid the liquidity crisis yesterday. we'll have a lot more coming up with andrew ross sorkin in a few minutes. solano is down 25% bitcoin is trading at 17,600 andrew >> meanwhile the races are too close to call. ylan mao joins us at the table with the latest. what's the latest? it's hangs in the blass after republican splits key seats in the house and democrats scored an upset in the senate the latest nbc projection does show that republicans would capture 220 seats in the house compared the 215 for democrats nbc has not made an official calls, but gop leader kevin mccarthy made a call for his people early this morning. >> it will offer a new direction, that will put america back on track. republicans are ready to deliver. it's a new direction toward an e

disney, of course, everyone knows what's happening at disney right now. the reason i included it in terms of tech, because a big part of disney now is disney plus the content that they're paying for is just pretty incredible. i think cost controls are going to come under bob iger i was talking to my analyst, ryan, and he thought that disney would be a stock that eventually is going to get through this sort of ceo situation they have and move toward getting t ting n business. >> back to the china investment story. k-web is up 30% this month i wonder, do you think that is because of or despite the unrest is there a case to be made that the investment story is actually stronger because of this pressure on xi jinping and his leadership they're not going to have a choice but to relax the zero covid policy >> well, it's hard to say. it's hard to say i'd be really surprised if they actually did, by the way, reduce the controls they put in place i actually got -- it's funny i'm not sure how i got these, but i have lots of contacts in china and they're sending me

this bob chipek wanted to make disney less political. he also lost a lot of money with disney plus. at least he beat cnn plus. but bob iger was uber progressive. was a democrat became independent, bob iger was considered to be joe biden's ambassador of china at one point. he radio signed from a trump board after trump got out of the climate accord. get rid of limb, do you want to change dis any ron desantis for ceo of disney [cheers and applause]. >> kayleigh: there you go. >> greg: i see where you're going and okay, i like it. walter, how do you take the news? >> jeff: i think everyone's confused. nothing's going to happen. they're not bringing him back. they're going to mount him in the hall of presidents next to lincolns. he's going to be a robot guy. who is this other guy? the hulk? goofy? what the hell was it. >> i'm going to say something a little bit against the grain here, little vegan. i love disney, they're all grown weather, and i ignore the politics. when i tweet or instagram out i get so much hate it's unbelievable but i don't care because sexual assault is still there

of course, the story of the day is disney. we want to attack that first because we have a shareholder here, and jim, you are in the stock. your reaction to this stunner that we got today. >> yeah, woke up today and the stock was up 9% in the premarket, and i thought what is going on with disney did somebody take it over? we have given some of that increase back, and maybe that's what we should expect. obviously i am not into the stock for 6.5% we are in it for a lot more than that bottom line is the company is executing well i think where it got into trouble is with the corporate activism he was doing and the company was doing, and i know it's sensitive what i am about to say, but take it or leave it, and the spat he got into with governor desantis earlier this year, and the rescinding of the special tax status in florida, i think that put crosshairs on his back, and that was on the margin, a reduction in the value of the company i think the reason the stock is up, is not that iger coming in -- >> i will stop you real quick, b

disney ceo. >> robert iger, many hoping maybe he'll be able to bring back some of that disney magic. but longtime disney experts say the trend of rising prices declining service and priority shifting away from the middle class will be hard to reverse 5 years from now. >> you know, what is the perception going to be a park's? because the people are who the people i'm hearing from her coming back now are saying, you know, always love the parks, but this was the last straw like the freeze nickel and dime comes a whole lot in the e-mails that i read. >> well, that was brian entin reporting. it's not just the parks where people have become disgruntled and prices are going up. disney plus has also been losing money and now plans to raise its prices. hey, the warriors are facing a lawsuit for promoting the now bankrupt cryptocurrency exchange ftx last december, the organization announced a deal with ftx name. the company there fishel cryptocurrency platform and nft marketplace team is also a defendant in a lawsuit filed last week. u.s. base ftx customers seeking damages from celebrity endor

over disney, right? f how do you get people to fall back in love with the imagination and the allure of disney? >> effect is question one on the binder that bob number two opened. m to me the reaction is how the shares immediately skyrocketed part of us and people have the faith resort for some random ran reason but to me this is exec of the democratic party did when they resurrected biden. here you go guys if someone you know and love it also reminds md of my friend who divorced his wife and then married a girl byd the same name. you didn't you do that just to be easy just to make things simpler? >> it's e dia monogram towel th. >> there you go.onog you never slip up and called by the wrong name too. >> exactly, johnny carson three wives all named joanna. there you go >> people are weirl pickwick so really are thank god you are normal, right? [laughter] i am very traditional too. >> you are extremely tradi traditional. what say you were made to be cet of disney. how would you make it better? >> i don't

let's get you caught up on stocks, bonds, commodities, and disney results coming in in less than two hours let's talk about that in a minute let's check on the market where a big gain in the dow earlier today has turned into a minuscule gain of 35 points, up more than 500 at the bye nasdaq has given it all back, and it's down 3/4 of a percent, s&p similarly in the red by about 15 points. bitcoin continuing to fall down. let's see there, that would be about 15% right now. this following the ftx drama that kate mooney reported on just moments ago let's turn our attention now to the bond market and rick santelli there he is, rick santelli, slipping right in, brother. >> i'm good, man. >> popping right in. >> if we look at what's going on with treasury yields, it's quite important to tie it, hook it into last week's important movement if you look at the two-year note yield and the far left of the screen, you could see it popped up, and it's been pretty much sideways and clipping off historic high yield closes any type of a yield close that's lower on the session we're now back about five

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jes cut the price target for disney down. worst day for disney in 2 1/2 years. do you think this is an overreaction >> look, stocks don't go up when estimate comes down and that's exactly what happened. the company unusually for them, brought guidance - gave guidance and they're both cyclical and secular challenges. it's not any surprise that linear business is challenged because the paid tv universe is declining and it's been in an accelerated decline. advertising is challenged because of macro headwinds and that's true whether linear or digital. disney has positive catalysts coming up and we are sticking with a buy. >> it's at 87. you think it's worth more than it is. what are the positive catalysts and why were you and others on wall street so surprised have they not managed this in terms of expectations? >> well, the quarter was a surprise in theme parks for us they launched disney ship which is doing well. hurricane ian which we did anticipate and then costs were up in part due to inflation. looking ahead, i think there are a number of cat ta lists this wee

david mentions disney. that's the other big story today, down in the market after missing on earnings, warning on streaming growth this is chapek on the call yesterday. >> we are on the path to profitable streaming business that generates shareholder value long into the future and assuming we do not see a meaningful shift in the economic climate, we still expect disney plus to achieve profitability in fiscal 2024 as losses begin to shrink in the first quarter of fiscal 2023. >> got some target cuts, but i got to say, the street's more constructive than you seem to be this morning >> credibility's shot. here's what i told people, members of the investment club we are shocked and stunned -- jeff marks and i -- by the poor performance of disney. the execution here has been so woeful, but we don't want to leave the franchise because nothing has changed in terms of disney's ability to make iconic content and create gigantic experiences. if we were to compare business to sports and espn, we would say it's time to

iger was disney's ceo from 2005 to 2020, and after serving as ceo he remained on the disney board. now he's committed to serving as ceo for two more years. susan arnold said this, quote, the board concluded that as disney embarks on industry transformation, bob iger is uniquely situated. disney in a highly competitive streaming space, problems at pass, because of lockdowns, and faced backlash from florida's governor ron desantis with what was categorized as woke policies. and shares hit a 20-year low the day after the release. here's where we stand with disney. you can see stock in a bob to today. >> thanks, jackie. also is this switch-up really about disney realizing that it's gone too woke, making people broke. with me now to discuss kelsey and jonathan. an article can i couple months ago in reuters that they were asked to address criticism that the company was too woke, and he said the world was a rich and diversified place and they wanted to the company to reflect that. >> charles, you know the full story of why he was ousted, but we can say poor performance, financial performa

if you add disney plus, you can add hulu for $2. if you have hulu, you can add disney plus for $2 the turn rate goes down when customers buy more than one of these apps so that's very important, and i think that's what's going to manifest itself as '23 and '24 roll on. as you get a few extra bucks, all of these drop to the bottom line there are no extra costs that's where we're headed. >> bottom line, jason, what do we do? do we own the stock? are we selling into the weakness hanging on buy more >> i would definitely buy more you said it yourself in the preamble this is the worst quarter since -- what did you say? >> biggest miss since the early '90s you had to use tickets to get into disney. the e-ticket was what all the kids wants. >> the answer is in your statement right there. you had two things that went wrong this is absolutely a buy. absolutely. >> absolutely a buy. all right. we need "mandalorian 2 yts maybe "baby yoda 2" perhaps. >>> he was once billed at the warren buffett of crypto now his firm needs to be bailed out. oce

back as the ceo of disney. he'll replace his successor, bob chapek, after less than a year away from that role. the change following disney's lower than expected earnings report. the stock this morning is bouncing but of course it has traded down this year. it is down 40% year-to-date and this morning showing a dwayne g8 and-a-half percent. what's your reaction to this stock as well as the news that bob iger is back? >> meet the new boss, same at the old boss, right? maria: right. >> i don't necessarily think it was a shock that iger came back. the rumors were swirling. investors like it, a steady hand. the chapek tenure has been let's call it volatile the at least and i think iger is comfortable. market's comfortable with him and i think the stock's he reflecting that. i think that's a stock specific story. i wouldn't necessarily read anything through to the overall economy there. maria: i mean, dagen, bob iger was ceo for 15 years. and then bob chapek takes over. he has a big fight with ron de santis after di

disney's ceo bob was ousted. with his predecessor bob ire coming back to run the place many were shocked by the firing. not us we here are students of stocks they represent companies that run like professional football teams. coachpaycheck kept losing game so we called for his head like we do for any ceo with a dismal track record of over promising, op, and then under delivering, ud remember what we like. we like under promise over deliver. i was surprised they brought iger back as he picked jpeck bu i hope he can pick up the confusion since 2020 you can argue he didn't deserve this because the market has been terrible, right? plus he took over disney right as covid was breaking out with crushing the movie and theme business, right? you don't want to go to a theme park or movie and they close it. still, over time i thought he'd be able to turn things around because disney has iconic prooftproof properties and the terrific cfo. i think he sidelined her if you were tuned to hermanner -- manner on the calls, the las

he wasn't coming back to disney. he also said that linear television is going to fall off a cliff on the precipice we just don't know when that is, so is he the man then? a solution to this possible cliff dive? ashley: exactly. right. all right, well let's get to the cryptos. the soap opera that is the ceo of ftx now talking about the future of the company. what future i guess, susan? >> well okay so we should note this is the good it guy that was brought into replace sam bankman-fried to try to retrieve some of the money for investors and users so the good news is according to john jay ray iii, who oversaw enron's collapse, most of the 130 ftx subsidiaries they invested in or owned actually has some value to re coup some money for users and investors that lost in the ftx bankruptcy. now ftx also owes $3 billion to its top 50 creditors. that was revealed this weekend and then you had sam bankman-fried speaking out to reporters this morning, again maybe not advisable but his lawyer paul weiss stepped down by the way b

start with the disney board. it's been less than five months since the disney board renewed bob chapek's contract for another about 2 1/2 years or so. saying publicly that bob chapek is the right man to lead disney at the right time. now, less than five months later, he's out of a job, so the disney board looks either deceitful at best in that they said they had confidence in him where he really didn't, or clumsy at worse where they're now firing him and paying him tens of millions of dollars in severance. bob iger has said repeatedly publicly, he will not come back to this job. yet, here we are, and he is in fact coming back. one sort of negative thing about iger that people talk about in terms of being a ceo, he's not very good at secession planning. three times he planned his retirement, leading several people who were thought to be the heir apparentapparent, to l company and bob chapek being removed and in comes iger once more. and chapek comes across as a ceo whose tenor will be led with the don't say gay, a

on the streaming aspect, sussannah, this is not just the disney plus. net flick stock is down for the year, too. how much can be brought back to the general environment which is not positive for vstreamers over leadership >> this is a balance with spending and the subscriber numbers have been great. good showing for disney. creeping up. beating netflix at the last count. so in terms of subscriber numbers, they have been doing extremely well the problem is how much to pay to keep getting those numbers higher and is it worth that amount of money? actually, disney, to some extent can rely heavily on the back catalog and selling from the parks businesses and cruises to streaming. if you get the younger generation going to the disney parks, they can fall in love with the characters to feed the streaming side of the business without spending quite so much money as they have been doing so in marketing and new content maybe that is likely to be a shift because we don't want to see so much more money poured into the business at a time when actually the subscribe

box office trouble for disney. the company may have scored big with black panther, but it looks like the newest animated movie is going to lose millions. the biden administration mandating federal air marshals leave their jobs to assist border agents. we're going to get reaction from republican florida congresswoman kat cammack who is calling for alejandro mayorkas to step down. and it's cyber monday, shoppers flocking to the biggest online retailers. we're going to let you know where to find the best deals. a little shopping might cheer us up. we have got a lot to get to. let's get started right now. first to our top story, stocks sliding today, near session lows right now. covid protests in china triggering today's selloff as well as comments from fed chair bullard -- excuse me, fed member bullard. susan li joins me now with all of the latest. susan: yeah, so these are pretty rare protests we're seeing in china right now in the far west, you have citizens across the country with covid fatigue, and they're really

first, bob iger stunning return to disney. disney shares spiking on the news. let's talk to jonathan hoenig and nick cast wealth management ceo, david nicholas. good to see you, gentlemen. what shocking news we got, unless we were up late last night. so, david, what happens to disney now? chapek, i assume i'm pronouncing his name right. he really did reorganize the country. created a new disney media entertainment division. will bob iger undo what chapek did? >> there is some damage to be undone. there is a pr disaster that disney experienced this year. if you separate the stock performance, it has been a bad year overall, right? you saw what happened with the florida parental rights and education bill that took the heat of the florida legislature, ron desantis, ended up losing a big part of their tax status which is big deal for company like disney. i'm looking at profitability going forward. streaming from a profitability standpoint has been a disaster. bob iger will have to come to figure out how to turn that segment around. they're seeing $4 billion for tha

it happens friday on disney plus. please welcome amy adams & maya rudolph. [ cheers and applause ] ♪ >> jimmy: i feel lucky to have you both here. >> oh, that's a lot of leg. >> so nice to be here, you got a two-fer. >> jimmy: i really did, i scored tonight. >> i love a two-fer. >> jimmy: how well do you know each other? amy, you husband, paul thomas anderson, directed maya -- >> he put her in a movie. >> jimmy: "the master." >> we know each other, it's gone a long time, right? >> we met before that, actually. >> at a birthday party, yes. >> that's right. >> i was severely pregnant with one of my children. i don't know what year that was. [ laughter ] i do remember that i told amy i thought she was pregnant. not in a way, "you're pregnant." but i was like -- >> "i can tell you're pregnant." >> and i was and i hadn't told anybody. >> it was really witchy. it wasn't a groos ss thing, "bu alert," or one of those phrases. [ laughter ] it was a kind of knowing. >> jimmy: risky. i'd sooner and ask a woman if she has diarr

streaming service disney plus. nevertheless, he has agreed to serve as ceo for two years starting with immediate effect and has also been expected to help the company choose a successor. >> from disney back to the news. time for truth or fake paired fact checking is the name of the game. people convert to religions all the time but there are claims they are doing it especially during the fifa world cup. catalina. >> this video right here circulating on twitter where people claim it shows these four people right here who went to qatar for the fifa world cup and after listening to the call of allah they converted to islam. this video right here has been retweeted over 960 times on twitter and it has been viewed over 75 thousand times posted on november 20. this post on twitter. it has been circulating even more on facebook with this post that has reached over 158,000 views on facebook with the post that reads four people accepted islam after listening to lecture in qatar. it has been circulating in french social medi

the higher key of disney, disney plus is probably the best business they have, the core disney plus. that could be a high-margin business it could be margins as good as netflix's. it's the other businesses they need to identify if they're core or not hopefully we'll hear from bob, they look at the other businesses and say, are these businesses we want to be in or not? again, under chapek we were not positive on the stock because we felt they were not taking the time to reassess their strategy. they were chasing subscriber targets at all costs, which is a reason why we were bearish >> we're reporting that he did talk about reedy creek and the battle with florida. sorry to see us dragged into that battle. i have no idea exactly what the ramifications are. we talk about iger mending relationships internally, with hollywood, but how do you think he mends them with politics? >> i think he doesn't -- basically go back to bob under the trump -- when trump was president. he spoke out and he stuck to, you know, the values of disney he didn't make it political. he didn't make it partisan he di

do politics belong and disney, or do you go to disney to get lectured or have fun? [laughter] >> vice president pence: we loaded the kids in the minivan, made the long drive from indianapolis down to disney. [laughter] >> martha: i'm sure the car ride was not fun. [laughter] >> vice president pence: we want to get a picture with the mouse. >> ainsley: did you wear mouse ears? >> vice president pence: i did not. at least with no photographs. [laughter] it is -- fun. disney world, once called the happiest place on earth. i welcome back bob iger. my hope is that he will steer disney back from its core business, which is reflecting the common values, the aspiration, and really family-oriented entertainment. we all have different values in this company, we are entitled to those values and beliefs, but, those things that are most dear to us, let's let families work those issues out. let's respective families ability to convey their faith, their values. let's just be able to enjoy the mouse. that's my aspiration, and my hope is that disney will learn some hard lessons from

the beloved disney characters? or do you go broad and general entertainment the way netflix does? and both paths have down sides to them so it's very unclear how iger will come in and kind of settle out what the path will be. >> we shall see. tom rogers, thanks for being on with us. we appreciate it. have a great thanksgiving. >>> coming up this morning before thanksgiving, a conversation about forgiveness with "new york times" best selling author timothy keller. we'll be right back. my active psoriatic arthritis can slow me down. now, skyrizi helps me get going by treating my skin and joints. along with significantly clearer skin, skyrizi helps me move with less joint pain, stiffness, swelling, and fatigue. and skyrizi is just 4 doses a year after two starter doses. skyrizi attaches to and reduces a source of excess inflammation that can lead to skin and joint symptoms. with skyrizi, 90% clearer skin and less joint pain is possible. serious allergic reactions and an increased risk of infections or a lower ability

why has disney brought bob iger back? alex: disney made a massive pivot the past two years, under pressure from activist investors, to make themselves more like netflix and actually invest in disney+. netflix has not had a brilliant year. it has been stalling and its share price has come down significantly. disney has fallen almost in lockstep with that. manus: and of course he is famed for doing those monster deals with pixar and marvel, isn't he? let's see what magic he could speckle across the kingdom. let's get to a bit of crypto. we know the contagion is around $3 billion in terms of unsecured creditors. that's not the end of the story in terms of fallout for ftx. it is pervasive. alex: yes, lots of different stakeholders here. there are the bigger funds, you have holdings who had investment in ftx, and then just your run-of-the-mill punter might have savings or investments, recto investments in the ftx exchange. all of these are likely to be affected and unfortunately it looks like those sort of retail investors are

i have been a big fan of disney, my daughter and i love the park and watching disney movies, i shouldn't be afraid to let my daughter sit and watch a disney movie and have to preview it first pause i'm worried about the kind of indoctrination they are pushing on my child and that is why disney issil faing parents and families. >> todd: our parents didn't have to do that with little mermaid and lion king, you just enjoyed it. now to your point, you need to watch it. bob iger says we will implement changes within the company, it is my intent to restructure m way that honors and upon ares creativity as heart and soul of who we are. what does disney do to maintain and/or wins back the business of people it has alienated over the last couple years? >> they really need to look at what happened in the rebuke from inner pas in the past year at ballot box and in parks and plummeting sales. reality is inner pas like myself want to be able to take their children to disney and watch movies where they experience fairy tails and princes and prinszesses, not woke ideology and a pushed agenda. i hope th

>> when you look disney it bounced off the low recently. we saw the job cuts coming from the netflix and other streamers of the world. maybe get some growth out of that way. but i think this might just be a bare trap to some degree. if you look at disney, it has the competition of the other streamers and potentially the parks. they're great. we saw a big pickup after covid. when the cpi number came out, one thing that people did not talk about are the averagely earnings. so less earnings for people and higher inflation for me does not spell good for discretionary. i can protect myself by looking at a point spread and looking at the december option and looking at the $90-foot spread. so i'm buying it for over $2 and selling the $85 strike for 1 dollar. it seems really good. the options are relatively cheap right now and relative to the market where it was just a couple weeks ago. and is this a cheap way to play to the downside. >> but the market has rewarded stocks and companies for cost cuts and hiring freezes. >> in the case of disney is t

there's an interesting experiment going on with disney+. they're adding more benefits on top of streaming favorite shows and movies like early access to merchandise, exclusive merchandise, and discounts at the park for disney+ subscribers. you can see them starting to spin this new flywheel to lock consumers into all the experiences with disney+ as the anchor, on top of the foreign exchange we've heard this from so many companies and as disney tries to grow internationally this streaming business that's going to be a huge headwind. >> disney, one of the few dow losers right now >> let's get another check on the market as america casts its vote to determine control of congress anastasia amoroso joins us nice rally here. it does feel like there's some hope and according to wall street research, for the republicans to take control of at least one chamber, and that would be good for the market and the economy do you agree >> i do agree with that. i think if we do get a split congress or get a republican sweep, that is likely good news for the m

one activists and investors are mounting bigger positions within disney. the dan lobe fight got public when he tried to pressure disney's board to maybe come up with new leadership but also to spin out espn plus and bob chapek was able to stave that off. but new reporting by "the washington journal" about a different activist investor putting pressure at this time. and the tensions between the two executives behind the scenes sources told me was palpable. it wasn't one blow up fight but they weren't communicating and iger was not publically endorsing chapek's strategy all that much. >> thanks very much for being with us. >>> another story that everyone is talking about and that is nba star kyrie irving, he's back on the court. >> so there you see him there, irving suited up with the brooklyn nets last night following an eight-game suspension after he tweeted a link to a documentary contained anti-semitic sentiments. he has since apologized. so much rabout this. it took a long time. >> yes, longer than all sides wanted. but i think this is the resolution ev