â¦and DoorDash delivers home improvement Revenge of the Bob (Charley Gallay/Getty Images) [Sponsored by]( Yesterday's Market Moves Dow Jones 39,127 (-0.11%) S&P 500 5,211 (+0.11%) Nasdaq 16,277 (+0.23%) Bitcoin $65,952 (+0.74%) Dow Jones 39,127 (-0.11%) S&P 500 5,211 (+0.11%) Nasdaq 16,277 (+0.23%) Bitcoin $65,952 (+0.74%) Hey Snackers, As Americans get hyped for Mondayâs total solar eclipse, brands are basking in marketing opportunities. The rare event has [inspired]( eclipse-themed [Krispy Kreme]( donuts, a SunChips flavor, and a blackout Sonic slushy. Stocks were mostly flat yesterday after Fed Chair Jerome Powell reiterated that the US central bank still expects to cut rates this year. ADP data showed that the US private sector added a better-than-expected 184K jobs last month. LETITGO [Disney wins its long boardroom battle, as shareholders seek a happy ending]( The ride of a lifetime⦠has been bumpy lately. Yesterday, [Disney]( finally [fended off]( hedge fund Trianâs attempt to take over two seats on Mickeyâs board. Shareholders voted for Disneyâs board picks, ending an aggressive âproxy fightâ (when shareholders force a vote for control). Itâs the culmination of a battle between Trian founding partner Nelson Peltz and Disney CEO Bob Iger, whoâve been trading barbs for over a year (Trian owns 2% of Disney shares). Peltz has blamed Igerâs management for Disneyâs failure to return to its record high 2021 stock price. - Spendy: Disney vs. Trian is thought to have been the most expensive proxy fight ever. To sway shareholders, Peltz shelled out $25M and Disney spent $40M (it even [enlisted]( Donald Duckâs uncle for PR).
- âSuccessionâ vibes: As an activist investor, Peltz tries to influence changes by leveraging his stake in a company (in this case Disney). Heâd previously led (and lost) a proxy fight against [Procter & Gamble](. All it takes is (losing) faith and trust⦠and a little proxy dust. Peltz has had a long list of grievances with Disney and Iger. In a 133-page white paper, Peltz called for a clear succession plan after Iger, a path to streaming profitability, and a shake-up of Disneyâs creative teams. Meanwhile, Igerâs been trying to restore the magic his own way. And it seems to be working: - Beauty and the beat: Last quarter Disney beat profit expectations and lifted its guidance after narrowing streaming losses.
- Iger announced plans to make streaming profitable by September, launch an ESPN streamer next year, invest $1.5B in âFortniteâ maker Epic Games, and release a âMoanaâ sequel. THE TAKEAWAY Everyone can live happily ever after⦠Trian failed to win two seats on Disneyâs board, but its heated push for change mayâve lit a fire under Disneyâs caboose. While Disney shares havenât reclaimed their peak price, theyâre up 50% over the past six months, and Iger projects earnings per share will rise 20% this year. [SPONSORED BY GLOBAL X]( Your AI investments, rolled into one Ground to gain? The possibilities and applications for generative AI are limitless. With the market forecast to grow to $1.3tn by 2032*, the opportunity is clear to see â and for investors, [Global X Artificial Intelligence & Technology ETF (AIQ)]( is a powerful way to access the potential of AI. Canât choose just one? AIQ seeks to invest in a range of companies that stand to benefit from AIâs development and utilization. Top holdings include household names such as Nvidia, Meta and Netflix**, as well as some you havenât heard of⦠yet. Global X Artificial Intelligence & Technology ETF (AIQ) could offer a simplified, efficient, and transparent way to tap into the market of the moment â and the future. [Discover the fund here](. *Bloomberg, June 2023. [SPONSORED BY GLOBAL X]( Your AI investments, rolled into one Ground to gain? The possibilities and applications for generative AI are limitless. With the market forecast to grow to $1.3tn by 2032*, the opportunity is clear to see â and for investors, [Global X Artificial Intelligence & Technology ETF (AIQ)]( is a powerful way to access the potential of AI. Canât choose just one? AIQ seeks to invest in a range of companies that stand to benefit from AIâs development and utilization. Top holdings include household names such as Nvidia, Meta and Netflix**, as well as some you havenât heard of⦠yet. Global X Artificial Intelligence & Technology ETF (AIQ) could offer a simplified, efficient, and transparent way to tap into the market of the moment â and the future. [Discover the fund here](. *Bloomberg, June 2023. DIY [DoorDash adds Loweâs to its app, nailing in the âdelivery everythingâ push]( Hamburger and a hammer⦠[DoorDash]( [added]( [Lowe's]( to the list of retailers on its app, partnering with the home-improvement chain to offer delivery from its 1.7K stores across the US. Users scrolling for late-night tacos can add screwdrivers, gardening kits, and other DIY tools to their cart thanks to DoorDashâs first foray into home improvement. The team-up is a win for both brands: DoorDash earns $$ from your last-minute home-repair needs and Loweâs gains exposure to a bunch of new customers. Donât call âem food-delivery apps⦠They want to be âeverything deliveryâ apps. DoorDash started with restaurants before expanding to groceries, and now itâs making a big push into retail. Loweâs is just the latest addition, joining dozens of DoorDash retail partners including Sephora, [Best Buy](, [Target](, [Petco](, [Victoriaâs Secret](, and [CVS](. Itâs a trend: - [Uber Eats]( added retailers like PetSmart, [Big Lots](, and [Office Depot](. It also launched services including package-return drop-offs and flower deliveries.
- Everything transportation: Since starting non-food deliveries in 2020, Uber said itâs gained 100K+ merchant partners in retail, grocery, and other new verticals.
- The more the merrier: Delivery apps like DoorDash and Grubhub earn a cut of each order they facilitate, so the more products they have on their apps, the better. THE TAKEAWAY Delivery apps are stepping into Prime turf⦠[Amazon]( is the go-to for fast delivery convenience, but food-delivery apps are encroaching on its territory (and beating its ETA) with their push into retail partnerships. For time-sensitive purchases, they have a leg up: if you need dog kibble or mascara ASAP, you might be more inclined to order it on DoorDash than wait a day to get it through Prime. What else weâre Snackinâ - [Note](: 200+ artists (including Stevie Wonder, Billie Eilish, and Nicki Minaj) signed a letter asking AI developers to stop infringing on their music. AI âcopycatsâ have duped artistsâ voices to avoid royalties.
- [Rx](: [Costco](âs selling members a $179 weight-loss program that includes prescriptions for drugs like Ozempic (but not the shot itself). Costco joins companies like WeightWatchers in offering access to the high-demand drugs.
- [Swish](: Sportsbooks including FanDuel and [DraftKings]( said Mondayâs LSU-Iowa March Madness rematch was their biggest womenâs sports-betting event ever. $2.7B is expected to be wagered on the bball tourneys.
- [Amped](: [Spotify]( is hiking prices for the second time in a year in five markets. The up-to-$2 hikes could hit the US this year as Spotify tries to offset royalty costs (last year it paid out $9B to the music industry).
- [Runny](: [Cal-Maine]( (the #1 US egg producer) halted production at a Texas plant after it found chickens infected with bird flu, shortly after a Michigan lab detected it in a poultry facility. That could lift prices. Snack Fact Of the Day The odds of NC State making the menâs March Madness Final Four this year were 1 in 23,512 [Read more]( Thursday - Earnings expected from Conagra, Lamb Weston, and Simply Good Foods
- 75th anniversary of NATO formed Authors of this Snacks own shares of: Amazon, CVS, Disney, Lamb Weston, and Uber **All ETFs are subject to risk, including possible loss of principal. Technology-themed investments tend to be more volatile than the overall market, and are subject to rapid changes in technology, intense competition, rapid obsolescence of products and services, loss of intellectual property protections, evolving industry standards and frequent new product productions, and changes in business cycles and government regulation. Holdings listed are as of 03/19/24 and are subject to change. For current holdings and prospectus, visit[(. Carefully consider the fundâs investment objectives, risks , charges, and expenses before investing. This and additional information can be found in the fundâs summary or full prospectus. Read it carefully before investing. Global X Funds are distributed by SEI Investments Distribution Co. [Instagram]( [Twitter]( Sherwood Media, LLC produces fresh and unique perspectives on topical financial news and is a fully owned subsidiary of Robinhood Markets, Inc., and any views expressed here do not necessarily reflect the views of any other Robinhood affiliate... [See more]( [Sherwood Terms and Conditions]( ⢠[Our Editorial Principles]( ⢠[Contact Us](mailto:hellosnacks@sherwoodmedia.com) ⢠[Privacy Policy]( ⢠[Advertise with us](mailto:advertising@sherwoodmedia.com) [Unsubscribe](