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Wall Street Breakfast

The Force is with Disney CEO Iger

Wall Street Breakfast

Seeking Alpha

Business News, News, Business, Investing

4.11K Ratings

🗓️ 19 March 2024

⏱️ 6 minutes

🧾️ Download transcript

Summary

Major Disney shareholder George Lucas backs Bob Iger in proxy battle. (0:16) Nvidia sees sell-the-news reaction to GTC. (2:30) EV maker Fisher halts production as it fights to survive. (3:11)

Show Notes
How the Magnificent 7 valuations stack up against bubbles of yore
Housing starts and building permits bounce back more than expected in February

Episode transcripts seekingalpha.com/wsb
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Transcript

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0:00.0

Welcome to Seeking Alpha's Wall Street Lunch, our afternoon update on today's market action, news and analysis.

0:10.0

Good afternoon. Today is Tuesday, March 19th I'm your host Kim Khan. Our top story so far.

0:16.0

I'm Luke Skywalker and I'm here to rescue Bob Eager.

0:19.0

It looks like the Disney CEO can count on help from the Rebel Alliance. Star Wars creator George Lucas

0:24.6

is backing Iger in the proxy battle between the company and activist investor, Trion Fund Management.

0:30.2

Lucas, who is Disney's largest individual shareholder with 37.1 million shares after selling Lucasfilm to Disney in 2012, told

0:38.0

C NBC that he has full faith and confidence in Disney and Iger's track record of driving long-term value.

0:45.8

Lucas said he voted all of his shares in favor of Disney's slate of directors and urges

0:50.0

other shareholders to do the same.

0:52.2

The Battle of the Death Star, or rather the

0:54.0

shareholders meeting, will take place on April 3rd. Disney and Trion did not

0:58.9

immediately respond to a request for comment from seeking Alpha. A a little trivia for fellow Star Wars nerds,

1:04.0

in the 2008 video game The Force Unleashed,

1:07.0

there was a droid named proxy.

1:09.0

In today's trading, the major averages are mixed with the Dow higher

1:12.0

but the NASDAQ lower.

1:13.7

Global rates are lower as traders assess the implications of the Bank of Japan

1:17.5

raising interest rates for the first time in 17 years.

1:21.4

Looking to the economy, February housing starts jumped 10.7% month on month to an annual

1:26.7

rate of 1.521 million, well ahead of the 1.449 million expected and the upwardly revised 1.374 million in January.

1:35.2

Single-family housing starts came at at a rate of 1.129 million up 11.6% from the

1:41.0

revised January figure of 1.02 million.

...

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