Disney Earnings and ESPN-NFL Deal, AMD CEO "First on CNBC," Apple to Boost U.S. Investment 8/6/25

SPEAKER_1 (0:00)

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SPEAKER_2 (0:16)

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David Faber (0:45)

Market insight and analysis. You're listening to the opening bell of CNBC Squawk on the Street.

Carl Quintanilla (0:50)

Good Wednesday morning. Welcome to Squawk on the Street. I'm Carl Quintanilla with Jim Cramer, David Faber at Post 9 of the New York Stock Exchange. Futures fairly steady as the street absorbs an intense wave of corporate results today. McDonald's, Uber, Disney, Shopify, AMD got an important 10-year note auction at 1 o'clock Eastern. It yields around 4.25. Our roadmap this morning begins with Disney posting its first revenue miss in over a year, but unveiling a new streaming service and this major deal, of course, with the NFL.

David Faber (1:17)

McDonald's seeing a sales rebound. Shares rallying in the early going here. Of course, we have to start official trading yet. AMD dropping in the pre-market despite what was a revenue beat and a strong outlook. The company CEO Lisa Su will join us first on CNBC. We will discuss those results and talk about the outlook for the company she runs.

Carl Quintanilla (1:38)

Let's get to Disney this morning. We'll begin with all things that company from earnings to this ESPN NFL deal. Earlier this morning on Squawk, CFO Hugh Johnston did weigh in on the company's quarterly results and what theme parks in particular are telling him about the consumer.

SPEAKER_5 (1:53)

Traffic was solid up a little bit and then per caps were up very, very solidly. So, you know, I know there's lots of concern about the consumer in the United States right now. We don't see it. Our consumer is doing very, very well.

Carl Quintanilla (2:08)

Jim, OperNet at Parks Up 22 kind of collides with Fund this morning down double digits on their results.

Jim Cramer (2:15)

Yeah, I had a kind of a jocular call this morning with Hugh Johnson that you just saw because we were laughing about how the negativity, which is the negativity, just so we know.

Remember, $10 billion market cap, $10 billion market cap loss on 50 million revenue shortfall. They did, you know, they beat by 14 cents and they didn't raise by 14 cents. That's what happened. They only raised by 10 cents. So people freak out. First, the NFL deal isn't even included. No one's including that on their numbers. We don't really know what it can be worth. But second, the kind of analysis that we're starting to see being done in the first, in the opening moments, this doctor traded at 115, traded at 119, is so silly and shameful that you have to just say, children behave. You haven't done any work. How do you make the measure of a quarter?

Carl Quintanilla (3:04)

You've been outspoken this morning about morons and calling people children.

Jim Cramer (3:10)

Well, why not? They're morons and the children. They're supposed to be making millions of dollars and they don't know what they're doing. You can't trade. I was talking with them when the stock was hit 116 and 115 You can't trade like that until you can figure out how much you get per game, what it means to the ESPN package. And more importantly, I mean, look, theme park, remember, Epic opened this quarter, so you shouldn't have a blowout theme park.

David Faber (3:34)

No, but no impact from Epic. They are not seeing any impact from the opening of Epic, it would seem. I mean, Hugh Johnson said that, I've heard that as well. To your point, Jim, you made it, and I'll say it again, I think there are some people on the buy side, particularly hedge funds, who were somehow looking, they were guiding to 6 to 8 percent for experiences, but expecting 9 When they didn't come in at 9, some people may have sold the stock. But to your point, you're not looking at much going on there. The call again is saying the same thing. Parks and Cruises is strong. I don't know what that means for Epic in terms of our still parent company Comcast and what they're seeing in those parks. But it's a positive sign overall for the consumer. Then you move on from there obviously into a lot of the other areas. Direct to consumer is now a money making business for Disney, and that's very important. As linear networks, as no surprise, continues to decline at a rather significant rate both on revenues and operating income.