Market Insight and Analysis. You're listening to the opening bell of CNBC, Squawk on the Street.

Good Thursday morning. Welcome to Squamonaut on the Street. I'm Carl Kintanao with Jim Kramer at the New York Stock Exchange.

David Faber is at Disney Studios in Burbank. His exclusive with Bob Igers coming up in just a couple of minutes.

Meantime, Future's pretty resilient here as yields back off a bit and some decent corporate results, especially in consumer.

Pepsi, Hilton, MGM, Wynn, Ralph Lauren, Sonos, Tapestry, all higher pre-market.

We'll get to all of that.

Let's begin, though, with Disney, up sharply in the pre-market after announcing this restructuring,

including plans to cut about 7,000 employees and 5.5 billion in

costs. Company also posting that quarterly beat, although Disney Plus Jim did move to some sublosses,

a lot for David to cover. Oh, my. I mean, a lot of things that say that Nelson Pels is wanting,

a lot of things by Chapel Trust owns it. We got, I mean, we got accountability of divisions. We got

cost structure coming down, which is good because the revenues were up, but then I'm making

enough money. We got very, very good clarity, by the way, on what it would take to have even,

you know, give back a modest dividend, which is terrific. This was a tort of force conference call

and a series of amazing moves. Management really

matters. Management really, really matters. I thought it was terrific and my hat is off to Bob

Tiger. Yep. A lot of price target increases on the street today. Deserving. Somewhere in the, say,

135, 140 range. Well, I mean, look, this is a company that has iconic company.

Theme parks were jammed anyway, but I think they're going to make a lot. They got off the treadmill, Carl. They don't have to do the darn. Hey, how many subs, how many subs? That may be incredible when it comes to trying to figure out what the company's worth. Great quarter. Obviously, we'll talk about ramifications for media at large, Jim, on a day where yesterday,

I'm the Com group, all-time high, right?

I mean, calls for an ad recession seem a little exaggerated at the moment. I agree with that.

I think that if you have what people want, you have the eyeballs, you're going to get them.

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