Daily Newsletter | November 30, 2023

November 30, 2023

TLDR

MARKET RECAP → Stocks closed higher led by the Dow (DIA) as the 30-stock index reached a new 2023 high and closed out its strongest month since October 2022.

PELTZ TARGETS DISNEY BOARD → ? Nelson Peltz’s Trian Fund Management ignites a proxy battle for Disney (DIS) board seats, challenging the company’s defensive maneuvers and leveraging former exec Ike Perlmutter’s dissent.

MUSK’S ADVERTISER REBUKE → ? Amidst a boycott by major advertisers over controversial tweets, Elon Musk defiantly tells potential blackmailers using ad dollars to “Go f— yourself,” even as he navigates the fallout and discusses Starlink in Israel.

? HENRY KISSINGER: A COMPLEX LEGACY → Henry Kissinger, a Holocaust survivor turned U.S. diplomatic heavyweight, passed at 100, leaving a legacy of reshaping global politics, from ending the Vietnam War to opening China, amidst enduring debates over his controversial methods.

Sean Horgan

Head of Investor Relations @ MoneyLion

$shorgan

Today’s S&P 500 Heatmap

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Today’s Top News

PELTZ TARGETS DISNEY BOARD

? Activist investor Nelson Peltz and his firm, Trian Fund Management, are seeking multiple seats on Disney’s (DIS) board, initiating a proxy fight. This move follows Disney’s rejection of Trian’s bid to join the board, including Peltz himself.

? Disney’s recent addition of Morgan Stanley CEO James Gorman and former Sky TV boss Jeremy Darroch to its board is perceived as a defensive strategy against Peltz’s challenge. Despite these additions, Trian criticizes the board for not addressing the root causes of significant value destruction and missteps.

? The conflict is intensified by the involvement of former Disney executive Ike Perlmutter, a critic of Disney CEO Bob Iger, who owns a significant portion of the shares claimed by Peltz. Disney highlights Perlmutter’s personal grudge against Iger, suggesting it influences Peltz’s actions.

Source: shutterstock

MUSK’S ADVERTISER REBUKE

? Elon Musk, owner of social media site X (formerly Twitter), dismissed advertisers boycotting the platform due to his controversial posts. He bluntly told potential blackmailers using advertising money to “Go f— yourself.”

? Musk’s inflammatory posts led major advertisers like Disney (DIS) and Apple (AAPL) to suspend campaigns, causing notable users to leave the platform. Despite denying antisemitism, Musk apologized for one of his “most foolish” tweets.

? Amidst this turmoil, Musk visited Israel, meeting Prime Minister Benjamin Netanyahu. He discussed bringing SpaceX’s Starlink service to Gaza, emphasizing his visit wasn’t an “apology tour.” Musk also expressed concerns about AI’s potential harm to humanity.

Source: shutterstock

HENRY KISSINGER: A COMPLEX LEGACY

?️ Henry Kissinger, Holocaust survivor and Harvard professor, passed away at 100, leaving a legacy as a U.S. diplomatic titan and a polarizing figure. As Nixon’s foreign policy guru, he navigated the Vietnam War exit and the Watergate scandal’s shadow.

? Kissinger’s diplomacy reshaped global politics: he thawed the Cold War with the Soviet Union, opened doors to China, and mediated Middle East conflicts. Yet, his support for regimes accused of human rights abuses sparked controversy.

? Beyond politics, Kissinger’s influence extended to academia and pop culture. Criticized and lauded in equal measure, his strategies and ideologies continue to stir debate, reflecting a career marked by pragmatism, power plays, and profound impact on international relations.