Please stay tuned for important disclosure information at the conclusion of this episode.

Here's what's ahead on this week's investing insights. Disney CEO Bob Iger is reimagining

the entertainment powerhouse's future. Plus, Morningstar Inc. Director of Personal Finance,

Christine Bens, will share how to avoid making six IRA mistakes and

an examination of America's racial wealth gap, a look at what's driving it and how to potentially

shrink it. This is Investing Insights. Welcome to Investing Insights. I'm your host, Ivana Hampton. And let's get started with a look at the Morning Star headlines. Disney posted a decent start to the fiscal first quarter of 2023. And multi-billion dollar cuts are coming in Bob Iger's second stint as CEO. Iger says the company will shave more than $5 billion from the budget,

and that would include eliminating about 7,000 jobs,

along with big spending cuts on non-sports content.

Disney is splitting into three divisions,

with ESPN as its own segment for the first time.

Iger made clear the actions do not signal a potential spin-out or sale of the sports network.

The Disney Plus Streaming Service struggled, losing more than 2 million customers globally.

However, Disney says it expects strong subscriber growth in the second half of the fiscal year.

The company reiterated that it still expects the streaming service to achieve profitability

in fiscal 2024. The parks and consumer segment drove earnings with domestic and

international parks posting 27% growth. Morningstar still thinks Disney shares are worth $155 and currently

look undervalued. Uber delivered another impressive quarter with year-over-year growth in

users, monthly trips, and monetizing its app. Top-line growth in the fourth quarter generated

additional operating leverage and

margin expansion. Total revenue was up nearly 50% year over year, and management showed impressive

confidence about having a profitable quarter this year. And that supports expectations that

will reach full year profitability in 2024. Uber's first quarter outlook indicates

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