Walt Disney’s fiscal-fourth-quarter earnings were enough to delight most shareholders, but it may take more to placate activist investor Nelson Peltz.
Cost cuts were enough to fend off an activist campaign by Peltz’s Trian Fund Management earlier this year, but as Disney’s stock continued to tumble, Peltz recently renewed his attack. This time, he has the full support of former Marvel executive Isaac “Ike” Perlmutter, who entrusted his Disney stake to Trian.