🚀 Disney considering co-CEOs to replace Iger

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Market Overview
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Year To Date Performances:

1. As Disney prepares to name a successor to CEO Bob Iger in early 2026, insiders say the company is weighing a co-CEO model that would pair Disney Entertainment co-chair Dana Walden with Disney Experiences chair Josh D’Amaro. The arrangement could preserve both executives’ talents, Walden’s Hollywood acumen and D’Amaro’s parks and consumer experience, but critics warn it risks repeating Disney’s history of messy power struggles. Iger’s tendency to linger in leadership and Disney’s politically charged culture could undermine any balance between the two chiefs, especially compared with Netflix’s smoother co-CEO setup rooted in shared history and founder oversight. Corporate governance experts also note that co-CEO structures rarely succeed long-term, cautioning that “two in charge means no one is in charge.”

2. Goldman Sachs beat Wall Street expectations for the third quarter, reporting earnings of $12.25 per share on $15.18 billion in revenue, surpassing forecasts of $11 per share and $14.1 billion, respectively. The bank’s strong performance was fueled by a 22% surge in investment banking revenue and robust bond trading activity, as market volatility from President Trump’s tariff policies boosted trading across asset classes. With stocks hovering near record highs, Goldman also benefited from its growing asset and wealth management division, recently strengthened by its acquisition of Industry Ventures. Shares of Goldman are up 37% this year, reflecting renewed investor confidence as the bank capitalizes on a favourable market and dealmaking environment.

3. JPMorgan Chase reported third-quarter earnings that beat Wall Street expectations, with profit rising 12% to $14.39 billion, or $5.07 per share, on revenue of $47.12 billion, driven by record trading revenue of $8.9 billion. Fixed income and equity trading surged 21% and 33%, respectively, while investment banking fees climbed 16% to $2.6 billion. CEO Jamie Dimon credited the bank’s strong performance to market volatility and a favourable economic environment under the Trump administration, but warned of looming risks from geopolitical tensions, trade uncertainty, and sticky inflation. The bank also increased provisions for credit losses by 9% to $3.4 billion, signalling caution about potential loan defaults ahead. JPMorgan’s results continue to underscore the strength of large U.S. banks, which have outperformed regional lenders amid shifting economic conditions.

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   1. GM’s earnings are expected to take a $1.6B hit due to its EV transition not working as expected.

   2. China is sanctioning US subsidiaries of South Korean shipbuilder Hanwha Ocean, preventing those companies from doing business with Chinese organizations or individuals.