TheStreet’s J.D. Durkin brings you the biggest news of the day, including how the market fared and how Elon Musk escalated his feud with Bob Iger and Disney.
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00:00 I'm JD Durkin reporting from the floor of the New York Stock Exchange.
00:03 Stocks were in the green to close out today's session.
00:05 The Dow closed up 48 points, the Nasdaq closed up two-tenths of a percent, and the S&P 500
00:10 closed fractionally higher as it hovered near the 5,000 milestone.
00:15 Stocks are continuing to react to better than expected corporate earnings.
00:18 So far 77% of S&P 500 companies reporting have beat Wall Street expectations.
00:25 In other news, the fight between Elon Musk and Disney CEO Bob Iger has added yet another
00:29 chapter.
00:30 The CEO of X is now looking for people who want to sue Disney for discrimination, even
00:35 offering to help pay for their legal fees.
00:37 Elon Musk's call to arms comes on the same day that actress Gina Carano filed a lawsuit
00:42 against Disney and Lucasfilm, accusing them of wrongfully terminating her from her role
00:47 in The Mandalorian.
00:49 Musk is also helping to pay for her case.
00:52 The new addition to the feud comes on the heels of Disney's first quarter earnings report,
00:56 in which it highlighted the revenue it lost from its Marvel franchises.
01:00 On its earnings call, Iger addressed the future of Marvel, saying, quote, "One of the things
01:04 that I've been saying before is that, you know, volume sometimes can be detrimental
01:08 to quality, and in our zeal to greatly increase volume, partially tied to wanting to chase
01:13 more global subs for our streaming platform, some of our studios lost a little focus."
01:19 Disney released three Marvel films in 2023, Ant-Man and the Wasp, Quantumania, The Marvels,
01:25 and Guardians of the Galaxy Vol. 3.
01:27 The Marvels has the unwanted distinction of the lowest domestic and global box office
01:32 totals in the studio's history.
01:35 That'll do it for your daily briefing.
01:36 From the floor of the New York Stock Exchange, I'm J.D. Durkin with The Street.
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