Rivian Performance Declines

Market Overview
Read time 1.4 minutes

Year To Date Performances:

1. Disney has secured the endorsement of ValueAct Capital Management for its current board of directors, strengthening CEO Bob Iger's position against billionaire activist Nelson Peltz. Peltz, through his firm Trian Fund Management LP, has been a vocal critic of Disney, pushing for substantial changes and seeking board positions for himself and former Disney CFO Jay Rasulo. He has raised issues with Disney's compensation, governance, and succession planning. To further bolster its business strategy, Disney has also agreed to strategic consultations with ValueAct under a confidentiality agreement that permits sharing of detailed company information. This development, announced in a joint statement on Wednesday, indicates Disney's commitment to proactively addressing its business challenges.

2. Rivian Automotive's share prices fell by 10% after the electric vehicle manufacturer released its latest production and delivery figures. While the company saw an increase in production in the fourth quarter, it reported a decrease in vehicle deliveries compared to the third quarter. Specifically, Rivian delivered 13,972 vehicles in the last quarter of the year, a 10.2% drop from its deliveries in the third quarter of 2023. Notably, this figure was in line with Wall Street analysts' expectations of around 14,000 vehicles.

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4. Headlines

   1. Harvard’s president has resigned amid a series of criticisms that began with the school's response to pro-Palestine rallies.

   2. Copper prices are expected to rise by as much as 75% this year.

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