Eye of the Iger, Arm’s Blowout Quarter, Nearing S&P 5,000 2/8/24

Carl Quintanilla, Jim Cramer and David Faber began the hour by breaking down Disney’s magical quarter. The stock surged after the company beat quarterly earnings estimates and raised its guidance as it saw progress in efforts to cut costs. Disney also announced that it will take a $1.5 billion stake in Fortnite studio Epic Games and launch its flagship ESPN streaming service in fall 2025. The anchors then shifted to another earnings mover, Arm Holdings; shares of the chip designer surged after beating analyst estimates and providing a strong profit forecast, saying AI boosted sales for the company. Also in the mix: the desk discussed the market action as the S&P inched closer to 5,000. Squawk on the Street Disclaimer