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Here's your midday brief for Tuesday, February 3rd. I'm Anthony Bancy for the Wall Street Journal.

Disney has named Parks Chief Josh DeMorrow as its new CEO, succeeding Bob Eiger.

Demarro is 54 years old and currently runs the company's theme parks and cruise ships.

His appointment reflects the importance of Disney's Experiences Unit, which accounts for 57% of the company's operating income.

Tomorrow will take the top job starting March 18th, while Iger will serve as senior advisor

and member of Disney's board through the end of his contract on December 31st.

Walmart has become the first traditional retailer to command a $1 trillion valuation,

hitting the milestone in trading this morning.

The group of $1 trillion companies is dominated by tech giants like Microsoft and

Nvidia, but Walmart's growing online business and its investments in artificial intelligence

to improve efficiency have helped drive its stock higher.

And we're exclusively reporting that PepsiCo is looking to cut prices by as much as 15% on snacks like Lays and Cheetos,

after getting a flood of messages from shoppers saying that the high prices made it hard to buy their products.

Retailers set prices, not Pepsi.

But the company is making suggestions, which executives expect retailers

...