WEBVTT - Bloomberg Daybreak: February 10, 2021 - Hour 1 (Radio) 0:00:02.759 --> 0:00:05.360 Live from the Bloomberg into Raptor Burger Studios, as is 0:00:05.400 --> 0:00:09.800 Bloomberg day Break for Thursday, February two. Coming up this hour, 0:00:10.160 --> 0:00:14.480 Disney shares surge as earnings blow past testivals. Credit Street 0:00:14.520 --> 0:00:17.640 slumps after posting its biggest quarterly loss in four years. 0:00:17.960 --> 0:00:20.880 Wall Street braces for the latest reading on hot inflation 0:00:21.320 --> 0:00:24.079 and economists. Susan Collins becomes the first black woman to 0:00:24.120 --> 0:00:27.200 head a federal reserve bank. The d o J investigates 0:00:27.240 --> 0:00:30.360 Donald Trump's handling of White House records plus the easing 0:00:30.400 --> 0:00:33.640 of mass requirements in the Tri State area. Michael laugh 0:00:33.840 --> 0:00:36.879 More Ahead, I'm John Stashteller. Upset wins for Seaton Hall 0:00:36.960 --> 0:00:40.440 and Rodgers, the Islanders one and Nathan Shannon Chloe Kim 0:00:40.560 --> 0:00:46.200 won Olympic gold medal. That's All's tread ahead on Bloomberg 0:00:46.280 --> 0:00:51.360 Daybreak on Bloomberg eleven three on New York, Bloomberg one, Washington, 0:00:51.479 --> 0:00:55.080 d C, Bloomberg one oh six one, Boston, Bloomberg nine 0:00:55.120 --> 0:00:58.960 sixties and Francisco Sirius x M one nine team and 0:00:59.040 --> 0:01:01.800 around the world on Bloomberg Radio dot Com. I'm and 0:01:01.920 --> 0:01:14.080 via the Bloomberg business Side. Good morning, I'm Nathan Hager 0:01:14.600 --> 0:01:18.360 and I'm Karen Moscow and SMP futures are lower this morning. 0:01:18.400 --> 0:01:20.080 We are coming up to five on one on Wall Street, 0:01:20.080 --> 0:01:22.120 and we checked the markets every fifteen minutes throughout the 0:01:22.120 --> 0:01:24.959 trading day. On Bloomberg. Right now, SND futures are down 0:01:24.959 --> 0:01:28.760 about eleven points. DAL futures are little changed. In nasday 0:01:28.840 --> 0:01:31.480 futures down fifty four The decks in Germany's up a 0:01:31.480 --> 0:01:34.200 tenth of uppercent ten year treasury that will change the 0:01:34.280 --> 0:01:36.560 yield one point nine three percent, and they yield on 0:01:36.600 --> 0:01:39.440 the two year one point three five percent. Nine Max 0:01:39.480 --> 0:01:41.920 Screwede oil is up a quarter percent, or twenty four 0:01:41.959 --> 0:01:44.560 cents at eighty nine ninety cents of barrel, and the 0:01:44.640 --> 0:01:48.600 euro one point one four four four against the dollar. Nathan, Well, Karen, 0:01:48.640 --> 0:01:51.280 we begin this morning with earnings and a huge surge 0:01:51.400 --> 0:01:53.760 in Disney shares. Right now, they're up more than seven 0:01:53.760 --> 0:01:56.480 and a half percent in early trading, the world's largest 0:01:56.560 --> 0:02:00.680 entertainment company reported first quarter sales, earnings, and streaming subscriber 0:02:00.720 --> 0:02:04.280 growth that all beat estimates. We spoke with Disney CEO 0:02:04.400 --> 0:02:07.800 Bob cha Peck after the results. We're full of optimism. 0:02:07.840 --> 0:02:10.120 We think that we've got a lot of energy and momentum. 0:02:10.360 --> 0:02:12.959 We've got a vision for the future, a vision where 0:02:13.000 --> 0:02:16.560 we're going to appeal directly to our audience U using 0:02:16.600 --> 0:02:20.400 technology and great storytelling. And uh, we really think that 0:02:20.480 --> 0:02:23.000 it's going to be a more exciting next one years 0:02:23.160 --> 0:02:26.440 than even our stellar first one hundred heres. Disney CEO 0:02:26.520 --> 0:02:29.520 Bob Chapeck spoke with bloombergs Emily Chang. Stay tuned for 0:02:29.560 --> 0:02:31.680 more of that interview coming up shortly right here on 0:02:31.720 --> 0:02:34.240 Bloomberg Day Break. Well, Nathan, we have some other stocks 0:02:34.240 --> 0:02:36.440 in the move this morning following earnings after the bell. 0:02:36.520 --> 0:02:39.320 Let me get the details live with the Bloomberg's John Tucker. John, 0:02:39.360 --> 0:02:42.080 good morning, and good morning, Karen. Uber shares up close 0:02:42.120 --> 0:02:44.440 to five percent of the pre market trading after fourth 0:02:44.520 --> 0:02:47.480 quarter revenue but beat estimates. The ride hailing giants so 0:02:47.520 --> 0:02:51.040 a little disruption from the Omicron variant that led to 0:02:51.120 --> 0:02:54.480 the most active users in its history, but Tell shares 0:02:54.520 --> 0:02:57.720 this morning up eleven percent. The toymaker reporting sales and 0:02:57.800 --> 0:03:01.680 profit that Blue Pass forecast. Mattel's outlook also came in 0:03:01.840 --> 0:03:06.079 above predictions, and shares of Twilio soaring up seventcent of 0:03:06.160 --> 0:03:09.520 the pre market the infrastructure software company's fourth quarter results 0:03:09.520 --> 0:03:13.519 in first quarter for forecast beat expectations. Of the three 0:03:13.560 --> 0:03:16.160 hundred twenty six companies in the SMP five hundreds that 0:03:16.200 --> 0:03:21.200 reported earning. So far, sevent have had positive earning surprises. 0:03:21.520 --> 0:03:24.720 Live in New York on John Tucker Bloomberg day Break. Okay, John, 0:03:24.760 --> 0:03:27.040 thank you, and the earnings continue to roll in today, 0:03:27.040 --> 0:03:30.040 with thirty companies reporting. Twitter is one of the biggest 0:03:30.120 --> 0:03:32.360 names on the today's list. Let's get a preview from 0:03:32.400 --> 0:03:36.200 Bloomberg's Tom Busby. The microblogging site reports fourth quarter earnings 0:03:36.280 --> 0:03:39.320 later this morning, the first earnings report under new CEO 0:03:39.440 --> 0:03:42.440 Parague Agrea Wall, who took over for founder Jack Dorsey 0:03:42.440 --> 0:03:46.040 in late November. Twitter makes most of its revenue from advertising, 0:03:46.120 --> 0:03:48.960 so key for investors is how the company will navigate 0:03:49.000 --> 0:03:53.160 those new privacy changes from Apple, which require explicit permission 0:03:53.240 --> 0:03:57.040 from users to target ads on its devices. Bloomberg podcasting 0:03:57.080 --> 0:03:59.880 revenue of one point five eight billion dollars and adjusted 0:04:00.040 --> 0:04:03.800 things of thirty two cents a share Tom Busby Bloomberg Daybreak, 0:04:03.880 --> 0:04:06.160 All right, Tom, thank you? All overseegs this morning shares 0:04:06.160 --> 0:04:08.560 a credit sweez Or down more than three percent. The 0:04:08.640 --> 0:04:11.720 Swiss Bank posted its biggest quarterly loss in about four years, 0:04:11.760 --> 0:04:15.120 and CEO Thomas Gonstein is warning that higher costs for 0:04:15.280 --> 0:04:18.599 pay and its restructuring will weigh on results all year. 0:04:19.200 --> 0:04:24.000 We also um included a new form of compensation in 0:04:24.080 --> 0:04:29.000 terms of our STP strategic delivery Plan, and this was 0:04:29.400 --> 0:04:34.000 very well received by by our employees and Credit Sweez 0:04:34.120 --> 0:04:37.880 is very committed to play market to pay market rates 0:04:37.880 --> 0:04:41.799 in terms of compensation. Credit swe CEO Thomas Gonstein says 0:04:41.839 --> 0:04:45.000 the company is focused on implementing a new strategy after 0:04:45.080 --> 0:04:49.279 scandals involving Archigo's capital management in Greensville Capital Now. Shares 0:04:49.279 --> 0:04:51.640 of Uni Leaver are also in focus this morning, Karen. 0:04:51.680 --> 0:04:54.520 They're down more than three percent in London. Company warns 0:04:54.520 --> 0:04:58.320 the inflation will dent profitability for two years. Unilever says 0:04:58.360 --> 0:05:02.440 commodity costs arising by more than across the consumer goods industry. 0:05:02.960 --> 0:05:05.520 Speaking at prices, Nathan, We're set for the next reading 0:05:05.560 --> 0:05:08.080 on inflation here in the US. The Government of Relations 0:05:08.080 --> 0:05:10.880 that consumer price index for January at eight thirty am. 0:05:10.880 --> 0:05:14.360 Wall Street Time economists forecast reading of seven point two 0:05:14.360 --> 0:05:17.240 percent a year over year. We get more from Bloomberg 0:05:17.279 --> 0:05:21.520 Economics correspondent Michael McKee January's Consumer Price Index won't lead 0:05:21.560 --> 0:05:23.799 the Fed to any kind of decision, but it will 0:05:23.839 --> 0:05:26.400 offer guidance about what they'll need to do down the road. 0:05:26.960 --> 0:05:29.200 Much of the jump in inflation has come from goods 0:05:29.279 --> 0:05:32.960 rather than services, as Americans, flush with stimulus cash, stayed 0:05:33.040 --> 0:05:37.279 home and bought things instead of experiences. The omicron outbreak 0:05:37.360 --> 0:05:40.039 last month probably kept that trend in place, but we 0:05:40.120 --> 0:05:42.840 did see inventories rising at the end of last year, 0:05:42.920 --> 0:05:46.839 which could mean some easing in transportation and bottleneck costs. 0:05:47.240 --> 0:05:51.760 Economists will also check the reopening trade cars, insurance, lodging, airfares, 0:05:51.760 --> 0:05:55.679 and food to see if prices are still rising. And finally, 0:05:55.760 --> 0:05:58.680 housing home prices up seventeen and a half percent through 0:05:58.720 --> 0:06:02.200 November one, will be feeding into the CPI for some time, 0:06:02.600 --> 0:06:05.679 even if higher interest rates start to slow home sales. 0:06:05.920 --> 0:06:09.080 Michael McKey, Bloomberg Daybreak. Okay, Mike, thanks for also watching 0:06:09.080 --> 0:06:11.440 the Fed. For another reason this morning, history is being 0:06:11.480 --> 0:06:14.440 made at the Federal Reserve Bank of Boston. More on 0:06:14.480 --> 0:06:17.960 that line from Bloomberg. Grinida Young, Good morning, Granina, Good morning, Nathan. 0:06:18.000 --> 0:06:21.680 The Boston Fed has named University of Michigan Economists Susan 0:06:21.760 --> 0:06:25.239 Collins as its next president. She becomes the first black 0:06:25.240 --> 0:06:27.720 woman to lead one of the Central banks twelve districts 0:06:27.880 --> 0:06:31.680 and will rep replace Eric Rosenren, who stepped down last year. 0:06:31.880 --> 0:06:34.800 The Collins, who earned a doctorate in economics at m 0:06:34.839 --> 0:06:38.680 I T, drew support from many, including former Vice chair 0:06:39.040 --> 0:06:45.000 Alan Blinder. I certainly think she's in the mainstream among economists, 0:06:45.040 --> 0:06:49.320 among liberal left, left of center economists, but certainly not 0:06:49.440 --> 0:06:52.400 far left. I mean, she's really in the mainstream, and 0:06:52.440 --> 0:06:56.839 I think that's basically where the Federal Reserve is these days. 0:06:57.320 --> 0:07:00.680 Former FED Vice chair and current Princeton Universe City professor 0:07:00.720 --> 0:07:04.280 Alan Blinder says Collins has every asset for the job 0:07:04.600 --> 0:07:07.960 and no liabilities. Live in New York. I'm Nita Young 0:07:07.960 --> 0:07:10.840 Bloomberg daybreak. Okay, Nita, thank you. S and P futures 0:07:10.840 --> 0:07:13.680 now down twelve point, Stoule futures down nine, Nastic futures 0:07:13.720 --> 0:07:17.000 lower by sixty points. Straight ahead, your latest local headlines 0:07:17.240 --> 0:07:23.600 at a check of sports. This is Bloomberg. It's five 0:07:23.600 --> 0:07:26.040 oh seven on Wall Street where forty degrees in Central Park. 0:07:26.080 --> 0:07:29.560 We have a earlier tractor trailer fire that's got the 0:07:29.640 --> 0:07:32.920 southbound easterns for the New Jersey TRIMPI closed. Michael barrs 0:07:32.920 --> 0:07:34.360 here with Marrom what's going on in New York and 0:07:34.400 --> 0:07:36.600 around the world. Good morning Michael, Good morning Nathan. The 0:07:36.680 --> 0:07:40.200 National Archives is asking the Justice Department to investigate whether 0:07:40.280 --> 0:07:44.160 former President Donald Trump violated federal law and the handling 0:07:44.160 --> 0:07:47.800 of documents then President Trump tore up some of them. 0:07:47.840 --> 0:07:51.760 The Archives also transported fifteen boxes of documents from Mara 0:07:51.880 --> 0:07:56.600 Lago after Trump representatives located them and notify the Archives. 0:07:56.840 --> 0:08:00.880 Former federal prosecutor Lorie Levinson the referral by the National 0:08:01.000 --> 0:08:04.120 Archive does not mean that there's necessarily going to be 0:08:04.160 --> 0:08:08.320 a criminal investigation of Trump or his advisors. It's simply 0:08:08.400 --> 0:08:12.400 a suggestion that someone needs to look into what happened here, 0:08:12.640 --> 0:08:15.760 loyal out law professor Lorie Levinson. The New York Times 0:08:15.800 --> 0:08:19.280 reports the Inspector General reached out to the Justice Department 0:08:19.320 --> 0:08:23.000 after they discovered what's believed to be classified documents that 0:08:23.080 --> 0:08:25.800 Trump took from the White House. New York Governor Kathy 0:08:25.840 --> 0:08:28.880 Hokel says the state will end a COVID nineteen mask 0:08:29.000 --> 0:08:32.920 mandate requiring face coverings in most indoor public settings, but 0:08:33.400 --> 0:08:36.280 We'll keep masking rules in place for schools for now. 0:08:36.720 --> 0:08:39.839 The state will drop its mask mandate for most businesses. 0:08:40.080 --> 0:08:43.520 Hocals has the numbers support, leaving the question of masks 0:08:43.600 --> 0:08:48.040 to individual localts. We saw those numbers literally off the charts, 0:08:48.280 --> 0:08:50.920 and now those numbers are coming down, and it is 0:08:51.000 --> 0:08:54.320 time to adapt. L has been saying she wants to 0:08:54.360 --> 0:08:57.959 see vaccination rates for children increase before she gets rid 0:08:58.040 --> 0:09:00.360 of a state requirement for the masks and school rules. 0:09:00.600 --> 0:09:03.679 Connecticut Governor Ned Lamont proposed a twenty four point two 0:09:03.720 --> 0:09:06.720 billion dollar budget for the fiscal years starting July one, 0:09:07.440 --> 0:09:11.600 boosts spending for state colleges and universities whose enrollment has 0:09:11.720 --> 0:09:14.960 dropped during the pandemic. LaMotte, in his State of the 0:09:15.040 --> 0:09:19.640 State address also announced tax cuts on automobiles. Three years ago, 0:09:19.720 --> 0:09:21.600 we're standing at the edge of a fiscal cliff, basic 0:09:21.679 --> 0:09:24.240 at three point seven billion dollar budget deficit, and today 0:09:24.240 --> 0:09:28.640 we're deciding what taxes to cut and what school programs 0:09:28.679 --> 0:09:32.760 to grow. Thanks to our third consecutive budget year of 0:09:32.760 --> 0:09:36.560 budget syrupluses. Governor Lamont also says the state has earned 0:09:36.600 --> 0:09:39.520 the right to no longer have a statewide mask mandate 0:09:39.559 --> 0:09:42.560 in schools. It's good news for the New York City 0:09:42.640 --> 0:09:46.040 subway system that carried more than three million customers on Tuesday, 0:09:46.080 --> 0:09:49.439 the busiest since the Umicron variant hit the city. Global 0:09:49.480 --> 0:09:51.680 News twenty four hours a day on air and on 0:09:51.720 --> 0:09:55.280 Bloomberg Quicktake, powered by more than twenty seven under journalist 0:09:55.320 --> 0:09:58.040 and analysts more than a hundred twenty countries. Michael Barr, 0:09:58.080 --> 0:10:05.599 this is Bloomberg. Nathan Alright, Michael's thank you up to 0:10:05.679 --> 0:10:07.559 five ten on All Street Time for the Bloomberg Sports 0:10:07.600 --> 0:10:09.480 up Taking Morning, John stanho Al, Good morning. The eight 0:10:09.559 --> 0:10:12.079 in the US finally went into hardware at the Olympics. 0:10:12.120 --> 0:10:14.480 Took five days before their first gold medal, but now 0:10:14.559 --> 0:10:18.080 two more, including a second and women's snowboarding, Chloe Kim 0:10:18.120 --> 0:10:21.079 became a breakout star when she won the half by 0:10:21.160 --> 0:10:24.040 four years ago. She has admitted the suffering from some 0:10:24.240 --> 0:10:26.800 depression as she dealt with the new found FAMO. In fact, 0:10:26.880 --> 0:10:29.320 Kim said at one point she threw her gold medal 0:10:29.360 --> 0:10:32.280 in the trash before then retrieving it. She was all 0:10:32.320 --> 0:10:34.720 smiles in Faijing that she cruised the victory just as 0:10:34.800 --> 0:10:37.960 Nathan Chan did in men's figure skame the Super Bowl 0:10:37.960 --> 0:10:40.160 in l a commissioner Roger Gudell with his annual State 0:10:40.200 --> 0:10:42.880 of the Game press conference, he promised the league would 0:10:42.880 --> 0:10:45.440 do better in minority higher and he was asked what 0:10:45.559 --> 0:10:48.559 that would entail. Everything from looking at the Berney rule 0:10:48.600 --> 0:10:51.120 and seeing what changes should be made to that, if 0:10:51.400 --> 0:10:55.120 any changes, or should it be removed, which some people suggested. 0:10:55.600 --> 0:10:57.880 All of those things are part of that. We're gonna 0:10:57.880 --> 0:11:00.400 talk to other people who have independent people come in 0:11:00.520 --> 0:11:03.079 and look and help us evaluate it, because it's sometimes 0:11:03.120 --> 0:11:05.480 hard to evaluate your own policies and procedures to They'll 0:11:05.480 --> 0:11:08.600 admit it. At one time, stand up comic Byron Allen, 0:11:08.679 --> 0:11:11.200 now a media moguls and talks to buy the Denver 0:11:11.320 --> 0:11:15.439 Broncos become the NFL's first African American owner. NBA trade 0:11:15.440 --> 0:11:17.560 deadline three o'clock today is still a lot of James 0:11:17.559 --> 0:11:20.880 Harden for Ben Simmons, rumors that would be a blockbuster 0:11:20.960 --> 0:11:23.520 if the Nets and Sixers pulled the trigger. Nets have 0:11:23.600 --> 0:11:26.840 lost their last nine. They visit at Washington tonight, Struggling 0:11:26.960 --> 0:11:29.199 NIXT that Golden State Warriors lost last night at Utah 0:11:29.240 --> 0:11:32.199 by twenty six. Islander's a five goal first period of 0:11:32.240 --> 0:11:35.280 six three win at Vancouver two top twenty five teams 0:11:35.320 --> 0:11:38.520 lost in New Jersey, Rutgers knocked off Ohio State by two. 0:11:38.880 --> 0:11:42.080 Just the Seaton hallbeat Xavier by two. The Scarlet Knights 0:11:42.080 --> 0:11:44.320 and the Pirates helped their case to make next month's 0:11:44.360 --> 0:11:47.080 n C Double A two. John Stash were Bloomberg Sports 0:11:47.600 --> 0:11:51.120 all right, John, thanks. SMP futures down ten point Staff futures, 0:11:51.160 --> 0:11:53.160 I'm moving a touch higher now they're up five points. 0:11:53.240 --> 0:11:57.000 Nest that futures still lower. Down fifty three Disney shares 0:11:57.040 --> 0:12:00.160 of nearly eight percent in the pre market after earnings. 0:12:00.200 --> 0:12:03.880 Will hear from CEO Bob shade Peck just ahead. This 0:12:04.040 --> 0:12:09.120 is Bloomberg Blumber eleven three oh weather partly and we'll 0:12:09.120 --> 0:12:11.160 see sunny upper forties today, will be in the upper 0:12:11.200 --> 0:12:15.160 forties tomorrow, low fifties by Saturday, Super Bowl Sunday, the 0:12:15.200 --> 0:12:22.920 possibility of light snow right now forty in Central Park Markets. 0:12:23.000 --> 0:12:26.080 Headlines and breaking news twenty four hours a day at 0:12:26.120 --> 0:12:29.520 Bloomberg dot Com, The Bloomberg Business at Hand at Bloomberg 0:12:29.600 --> 0:12:38.560 Quick Take. This is a Bloomberg business flash and I'm 0:12:38.640 --> 0:12:41.839 Karen Moscow and SMP futures are lower ahead of key 0:12:41.960 --> 0:12:45.440 US inflation data. Sin P futures down eight points down, 0:12:45.480 --> 0:12:49.040 futures are little change to higher up nineteen and the 0:12:49.120 --> 0:12:52.880 Nasdaq futures are down forty four. The tenure treasury little change. 0:12:53.080 --> 0:12:55.960 He has one yield on the two year one point 0:12:56.000 --> 0:12:59.000 three five percent. That's a Bloomberg Business Flower Show. Where's 0:12:59.040 --> 0:13:01.840 Michael Barr with more what's going on around the world. Michael, 0:13:02.040 --> 0:13:04.400 thank you very much. Camera in Russia and Belarus began 0:13:04.440 --> 0:13:08.120 their largest joint military drills and years today. Russia has 0:13:08.120 --> 0:13:11.440 repeatedly denied it plans to invade Ukraine after the US 0:13:11.520 --> 0:13:14.360 and its NATO allies warned of a build up about 0:13:14.400 --> 0:13:17.280 a hundred thirty thousand Russian troops near the border. Figure 0:13:17.320 --> 0:13:20.040 skater at Nathan Chan of the US won the gold 0:13:20.080 --> 0:13:23.200 and the men's individual event in the NHL. The island 0:13:23.200 --> 0:13:25.800 has won global news twenty four hours a day on 0:13:25.960 --> 0:13:28.080 air and on Bloomberg Quick Take, powered by more than 0:13:28.400 --> 0:13:30.880 seven hundred journalists and analysts and more than a hundred 0:13:30.880 --> 0:13:35.360 twenty countries. I'm Michael Barr, and this is Bloomberg. Nathan alright, Michael, thanks, 0:13:35.400 --> 0:13:38.360 It's eighteen on Wall Street Live from the Bloomberg Interact 0:13:38.360 --> 0:13:42.000 and Broker Studios. This is Bloomberg Daybreak. I'm Nathan Hagar. 0:13:42.559 --> 0:13:46.360 What's stock. Disney, the world's largest entertainment company, is reporting 0:13:46.400 --> 0:13:50.760 first quarter sales, earnings, and streaming subscriber growth that all 0:13:50.840 --> 0:13:54.480 beat estimates. After announcing the results, of Disney CEO Bob 0:13:54.559 --> 0:13:57.240 Chapeck sat down for an interview with Bloomberg ex Emily 0:13:57.320 --> 0:14:00.280 Chang to discuss the results and the path ahead. Let's 0:14:00.280 --> 0:14:02.920 listen in to that conversation now. I want to start 0:14:02.960 --> 0:14:06.800 with this month, marking two years with you as CEO, 0:14:06.920 --> 0:14:09.480 Bob Iger has officially ridden away from the happiest place 0:14:09.520 --> 0:14:11.120 on Earth, and I want to know how you're feeling. 0:14:11.160 --> 0:14:13.520 Do you feel like your strategy is clicking and that 0:14:13.679 --> 0:14:17.040 things are working well? I think, as evidence by our 0:14:17.040 --> 0:14:20.320 most recent quarter, everything's falling into place. You know, we're 0:14:20.320 --> 0:14:23.080 filled with optimism here at Disney. We're at the point 0:14:23.120 --> 0:14:26.040 where we're just at the start of the last year 0:14:26.080 --> 0:14:28.760 of our first one hundred and the inflection point for 0:14:28.840 --> 0:14:30.840 the start of the next one hundred. And I think 0:14:30.840 --> 0:14:33.320 if you look at our parks business, you look at 0:14:33.360 --> 0:14:37.240 our media business, all fueled by the great content that 0:14:37.320 --> 0:14:42.080 our internal storytellers get to tell we're full of optimism. 0:14:42.200 --> 0:14:44.440 We think that we've got a lot of energy and momentum. 0:14:44.680 --> 0:14:47.320 We've got a vision for the future, a vision where 0:14:47.320 --> 0:14:50.880 we're going to appeal directly to our audience, uh, using 0:14:50.960 --> 0:14:54.760 technology and great storytelling, and uh, we really think that 0:14:54.840 --> 0:14:57.320 it's going to be a more exciting next one years 0:14:57.480 --> 0:15:00.840 than even our stellar first one hundred. Heres give us 0:15:00.880 --> 0:15:03.880 some color on what's driving the burst in subscriber growth 0:15:04.000 --> 0:15:08.960 at Disney Plus compared to the slowdown last quarter. You know, 0:15:09.160 --> 0:15:11.680 we had said for a long time that it's not 0:15:11.680 --> 0:15:14.160 going to be a linear growth quarter to quarter on 0:15:14.240 --> 0:15:16.120 Disney Plus, that there were going to be some quarters 0:15:16.120 --> 0:15:18.800 a little higher, some quarters a little lower. And it's 0:15:18.840 --> 0:15:21.880 really almost directly a function of what the new content 0:15:22.040 --> 0:15:25.760 is that's flowing into the service. And obviously that content 0:15:26.000 --> 0:15:30.240 was impeded, uh and made a little choppy even more 0:15:30.320 --> 0:15:32.360 by the fact that you know, we had COVID and 0:15:32.400 --> 0:15:36.680 it interrupted our production cycles. But as we stated last 0:15:36.680 --> 0:15:39.320 earnings and the earnings as well, is that that flow 0:15:39.360 --> 0:15:41.840 becomes a little more steady, a little bit more predictable, 0:15:42.000 --> 0:15:45.000 a little bit more optimal during the second half of 0:15:45.400 --> 0:15:48.920 this year, and we expect that uh, we're going to 0:15:49.000 --> 0:15:51.720 actually add more substance second half of the year than 0:15:51.760 --> 0:15:54.240 the first half of the year, so we're very encouraged 0:15:54.240 --> 0:15:57.520 by that. Again, it will still be choppier than a 0:15:57.560 --> 0:16:01.440 perfect linear line, but you know, when you have great 0:16:01.440 --> 0:16:05.000 storytelling and great brands like we do, uh, it's it's 0:16:05.000 --> 0:16:06.840 gonna draw a lot of people across the globe. So 0:16:06.840 --> 0:16:09.360 we're excited about that. Now, you said it was hard 0:16:09.400 --> 0:16:11.880 to get people to the theater for family movies, and 0:16:11.920 --> 0:16:14.320 I wonder when you see that changing and what that 0:16:14.400 --> 0:16:19.360 means for the next few family titles. Well, we're very 0:16:19.440 --> 0:16:22.320 carefully watching the return to theaters. And obviously when you 0:16:22.320 --> 0:16:24.640 have something like Spider Man that comes out into the 0:16:24.680 --> 0:16:28.800 marketplace and it does you know, gamebusters numbers were very 0:16:28.880 --> 0:16:31.320 encouraged about that, you know. So it's called the eighteen 0:16:31.400 --> 0:16:36.120 to thirty four uh target uh demo. That seems too 0:16:36.280 --> 0:16:39.080 if you've got the right movie, big blockbuster, great film 0:16:39.840 --> 0:16:42.680 based on a franchise, that's back. We are a little 0:16:42.680 --> 0:16:45.120 more concerned though about the family films and some of 0:16:45.160 --> 0:16:48.120 the films that appeal to the over thirty five audience. 0:16:48.880 --> 0:16:52.000 But we're very very lucky in that um uh. We 0:16:52.080 --> 0:16:54.880 have the ability to take our films to all the 0:16:54.920 --> 0:16:59.240 audiences on Disney Plus, and we're encouraged. We hope that 0:16:59.360 --> 0:17:02.800 the family comes back to theaters, but we believe that 0:17:02.840 --> 0:17:06.160 even with a title Likencanto, which as you know, has 0:17:06.240 --> 0:17:08.640 proved to the world, that we can build a Disney 0:17:08.720 --> 0:17:13.639 franchise on on on the back of Disney Plus, because 0:17:13.720 --> 0:17:17.199 our merchandise licensed merchandise spiked as soon as it came 0:17:17.200 --> 0:17:19.520 out on Disney Plus. The music went from I think 0:17:19.520 --> 0:17:22.600 it was a hundred ninety seven on the top two 0:17:22.640 --> 0:17:25.560 hundred and Billboard to number one for multiple weeks in 0:17:25.560 --> 0:17:27.919 a row. We can build a franchise on Disney Plus. 0:17:27.920 --> 0:17:31.480 So we'd love for theatrical to come back for family movies. Uh. 0:17:31.520 --> 0:17:34.639 We hope it does. But if it doesn't, we we 0:17:34.720 --> 0:17:37.080 know that we're very secure in being able to use 0:17:37.119 --> 0:17:40.320 our own platform, Disney Plus to help do that. I 0:17:40.359 --> 0:17:43.359 want to talk about parks in more detail. You hit 0:17:43.440 --> 0:17:46.920 some all time records with revenue there, but attendance is 0:17:47.080 --> 0:17:49.960 still you know, lower or in line depending on the 0:17:49.960 --> 0:17:53.840 park that you're talking about. What's the outlook ahead as 0:17:53.920 --> 0:17:57.879 oh Macron Wings, are you preparing for new variants? Do 0:17:58.000 --> 0:18:01.520 you see hitting new records in attendance or is it 0:18:01.560 --> 0:18:05.200 all about revenue. We're we're preparing for anything. I think 0:18:05.240 --> 0:18:08.600 if the last two years have taught us anything is 0:18:08.640 --> 0:18:11.800 to remain flexible. But if we have a focus on 0:18:11.800 --> 0:18:15.040 our guest we believe that it's going to uh turn 0:18:15.040 --> 0:18:17.520 out just just find I think one of the reasons 0:18:17.520 --> 0:18:21.960 why we've had such a recovery in demand and attendance 0:18:22.000 --> 0:18:24.359 at our parks is a function of the fact that 0:18:24.760 --> 0:18:28.320 consumers are guests are fans trust us. Not only do 0:18:28.480 --> 0:18:31.720 we deliver great experiences and tell great stories, but they 0:18:31.760 --> 0:18:34.520 trust us. And we're going to move very slowly when 0:18:34.560 --> 0:18:38.280 it comes to attendance increases because we feel that we 0:18:38.320 --> 0:18:41.080 want to be very, very responsible. And some of the 0:18:41.080 --> 0:18:43.840 reasons why we don't have max capacity right now is 0:18:43.880 --> 0:18:46.880 that we still haven't turned on all of the live 0:18:47.040 --> 0:18:49.600 entertainment that we've got at the parks. Was as as 0:18:49.600 --> 0:18:52.120 you know, is a really big component of a great 0:18:52.160 --> 0:18:55.040 Disney experience. But we're moving slow on that because we 0:18:55.080 --> 0:18:58.080 want to make sure that as you identify people, that 0:18:58.160 --> 0:19:00.600 our guests feel very comfortable, and we do vas all 0:19:00.640 --> 0:19:03.240 the time in terms of what our guests feel is 0:19:03.280 --> 0:19:06.119 the appropriate density and so we're metering that. But I 0:19:06.200 --> 0:19:09.280 must say that the operating performance of parks Uh using 0:19:09.280 --> 0:19:12.720 that approach has been extraordinary, extraordinarily great. And that was 0:19:12.760 --> 0:19:16.359 Disney CEO Bob cha Peck speaking with Bloomberg's Emily Chang 0:19:16.720 --> 0:19:19.320 on the heels of first quarter earnings that beat estimates 0:19:19.359 --> 0:19:22.440 on nearly every metric, tough to avoid, the happiest place 0:19:22.480 --> 0:19:25.679 on Earth metaphors for investors. This morning, the shares of 0:19:25.800 --> 0:19:28.040 Disney and the pre market right now up more than 0:19:28.160 --> 0:19:31.639 seven and a half per cent. As for the broader market, 0:19:32.040 --> 0:19:36.119 futures are mixed ahead of the January CPI print s 0:19:36.160 --> 0:19:40.680 ANDP futures are down ten points down, futures up five points, 0:19:41.080 --> 0:19:44.720 NASAC futures are lower by forty eight points. Not a 0:19:44.720 --> 0:19:46.720 lot of movement in the bond space right now. The 0:19:46.760 --> 0:19:49.480 tenure is little changed, with the yield one point nine 0:19:49.560 --> 0:19:51.960 three percent, the yield on the two year one point 0:19:52.000 --> 0:19:54.720 three five percent up. Next, we'll have more on the 0:19:54.720 --> 0:19:58.080 earnings shaping markets this morning, including Credit Suis, Mattel, and 0:19:58.240 --> 0:20:02.040 Uber plus a historic new regional Fed president that's straight 0:20:02.040 --> 0:20:08.760 ahead as Bloomberg daybreak continues. Bloomberg eleven three oh Weather partly. 0:20:08.800 --> 0:20:11.600 The mostly sunny upper forties today and tomorrow will be 0:20:11.600 --> 0:20:15.399 in the low fifties by Saturday, light snow, possible Super 0:20:15.440 --> 0:20:18.119 Bowl Sunday. That'll be a change. Right now, forty degrees 0:20:18.160 --> 0:20:26.240 in Central Park. Criadcasting live from the Bloomberg Interactive Broker 0:20:26.359 --> 0:20:29.760 Studio in New York. Bloomberg E Living Freedom to Washington, 0:20:29.840 --> 0:20:33.879 d C. Bloomberg to Boston, Bloomberg one O six one 0:20:34.040 --> 0:20:37.480 to San Francisco, Bloomberg No. Sixty to the Country, Sirius 0:20:37.640 --> 0:20:40.840 XM Cho one nine, and around the globe, the Bloomberg 0:20:40.840 --> 0:20:45.280 Business and Bloomberg Radio dot Com. This is Bloomberg Daybreak. 0:20:51.280 --> 0:20:53.480 It's five thirty on Wall Street. Good morning. I'm Nathan 0:20:53.520 --> 0:20:56.639 Hager and I'm Karen Moscow. We're just about four hours 0:20:56.680 --> 0:20:58.720 away from the open of US training. Let's get you 0:20:58.760 --> 0:21:00.080 up to date on the news you need to know 0:21:00.160 --> 0:21:03.199 at this hour. Earnings and inflation are front and center, 0:21:03.240 --> 0:21:06.760 and we begin with earnings. Shares of Disney are higher, 0:21:06.840 --> 0:21:09.879 up almost eight percent in early trading after first quarter sales, 0:21:09.880 --> 0:21:13.800 profit and streaming subscriber growth. All Beat analysts estimates CEO 0:21:13.880 --> 0:21:17.760 Bob Speck is optimistic, especially about Disney plus we're gonna 0:21:17.800 --> 0:21:20.560 actually add more substance second half of the year than 0:21:20.600 --> 0:21:23.040 the first half of the year, so we're very encouraged 0:21:23.080 --> 0:21:26.760 by that. Again, it'll still be choppier than a perfect 0:21:26.800 --> 0:21:30.240 linear line, but uh, you know, when you have great 0:21:30.280 --> 0:21:33.840 storytelling and great brands like we do, Uh, it's it's 0:21:33.840 --> 0:21:35.639 gonna draw a lot of people across the globe. So 0:21:35.680 --> 0:21:39.360 we're excited about that. Disney CEO Bob Kpex says subscription 0:21:39.520 --> 0:21:43.480 subscriptions for Disney Plus are now approaching one thirty million. Well, 0:21:43.480 --> 0:21:45.800 we do have some other stocks on the move this morning, Karen, 0:21:45.840 --> 0:21:48.359 following after the Bell earnings. Let's get the latest on 0:21:48.480 --> 0:21:52.159 those live from Bloomberg's John Tucker. John Nathan Uber shares 0:21:52.160 --> 0:21:55.240 of six percent in pre market trading. Fourth quarter revenue 0:21:55.280 --> 0:21:58.120 top to estimates. The ride handling giant reported the most 0:21:58.200 --> 0:22:02.359 active users in its history. Mattel shares up almost eleven percent. 0:22:02.680 --> 0:22:06.240 Revenue and earnings at the toymaker also beat estimates, and 0:22:06.320 --> 0:22:10.199 so did the company's forecast, and Twilio shares jumping seventeen 0:22:10.280 --> 0:22:13.879 percent in pre market trading. The infrastructure software company reported 0:22:13.880 --> 0:22:17.760 fourth quarter results that beat expectations and forecast revenue ahead 0:22:17.760 --> 0:22:20.440 of the consensus. Live in New York. I'm John Tucker, 0:22:20.480 --> 0:22:24.040 Bloomberg Daybreak, John, Thank you. In Europe this morning, shares 0:22:24.040 --> 0:22:26.240 a credit suite SARRE down more than four and a 0:22:26.280 --> 0:22:28.879