Nelson Peltz Launches Proxy Fight with Disney, December CPI Data Shows Inflation Easing & Box CEO Aaron Levie on Software Outlook 1/12/23

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CNBC

Disruptors, Tech, Technology, Cnbc, Management, Business, Faang, Investing

4.5 • 66 Ratings

🗓️ 12 January 2023

⏱️ 44 minutes

🔗️ Recording | iTunes | RSS

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Summary

Our anchors begin today’s show with New York Times columnist Jim Stewart discussing billionaire investor Nelson Peltz’s activist firm launching a proxy fight against Disney. Then, OptionsPlay Chief Strategist Tony Zhang analyzes the impact of this morning’s CPI data on mega-cap tech, and CNBC’s Melissa Repko reports on Walmart’s new partnership with Salesforce. Next, CNBC’s Kristina Partsinevelos covers chipmaker TSMC’s latest results, and CNBC’s Frank Holland looks at e-commerce surging to start 2023. CNBC’s Frank Holland also explains why a dramatic drop in capital gains from IPOs, stock sales and options is weighing on California’s state budget. Later, CNBC’s Jennifer Elias covers Alphabet cutting staff in its health sciences unit, and cloud content management firm Box CEO Aaron Levie shares his outlook for the software sector.

Transcript

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0:00.0	I'm John Ford. You're listening to CNVC's Tech Check. Our show is live weekdays at 11 a.m. Eastern. Listen in.
0:06.9	Good Thursday morning. Welcome to Kit Tech Check. I'm Carl Kingtonia with Your
0:10.1	Derbosha and John Ford. Today proxies, prices, and outperformants,
0:14.5	Nelson Peltz, wants to restore the magic to Disney.
0:18.4	Later on, CPI prints in line with estimates,
0:20.6	the impact on the tech trade and growth stocks to consider this morning.
0:24.4	We're going to talk to the CEO of one of those names Box, the rare tech outperformer in 22 with
0:29.5	Aaron Levy joining us this hour on set, Dee.
0:32.2	Let's first get a quick check on the markets following this morning's
0:35.0	CPI report coming right in line with expectations.
0:38.0	And we are off highs, the NASDAQ is the underperformer today,
0:41.0	giving back some of those gains from the beginning of the year down about four tenths of a percent the down industrial is up about 90 points it was that more than 130 at one point energy and communication services
0:51.1	they are leading health care are your laggards. Within
0:54.4	Communication Services, it is guess who? Disney taking the rain seeing a nice.
0:58.4	3 plus percent gain Carl. What a great interview that was with Nelson Peltz.
1:04.0	Yeah, a top performer on the Dow today. That's where we'll start. Disney having a good day.
1:09.0	It's having a great start to the year as well.
1:11.0	Stocks having the second best performing Dow stock so far this year. Take a look at the
1:15.4	three year though, down 50% from the all-time high back in March of 2021. In fact
1:20.2	it's back below where it was pre- Pandemic, and a big part of that drop was due to the
1:25.1	latest quarter that it was far from a fairy tale as streaming costs mounted.
1:28.8	It was those losses and revenue shortfalls that had led Nelson Peltz's try and to launch a proxy fight with the
	...

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