Let's get the opening bell on the CNBC realtime exchange of the big board. It's TKO Group and Poly Market celebrating this new multi-year deal. Poly Market will become the official prediction market partner for the UFC and Zuka Boxing.Ari, Emanuel, Mark Shapiro on MAD tonight. >> Yes, indeed. And I know a lot of companies are getting in on this.You know, uh we had Flutter last night and don't forget that's FanDuel. There's it's a crowded market, but it's going to be jump ball. I think David, what I think ma ...

Market Trends & Industry Dynamics - Goldman Sachs downgraded Dollar Tree to "sell" due to concerns about lower-income consumers [1] - Lower-income consumers are struggling to afford even Dollar Tree's products, despite the low prices [1] - Dollar Tree has raised prices, impacting its value proposition [1] - Tariffs have negatively affected Dollar Tree [3] Customer Behavior & Sentiment - Customer intent data is unfavorable towards Dollar Tree [2] - Customers are increasingly finding that Dollar Tree is no longer offering the same value, especially in the candy aisle [3] - Dollar Tree relies on customer intent data for analysis [2] Competitive Landscape - TJX is presented as a more favorable alternative to Dollar Tree [3] - Dollar Tree faces competition from other discount retailers [3]

Before we let you go, you are the newly named independent chairman at Verizon for the newly named CEO Dan Schulman. >> Yes. >> Um why the change and what's going to be different at this point.>> Um Verizon has gone from number one in market cap bond ratings and and share to number three. Um and the network isn't as differentiated as it used to be. in large part because everybody's been spending money to put these 5G networks in place.So losing 30% share over the last eight years is an issue. Um and we have ...

Strategic Focus - The US needs to lead in AI, quantum computing, and biotechnology to outcompete China and ensure American security [3] - Securing supply chains and increasing domestic production of medicines are crucial, especially in biotechnology [4][10] - China has increased its investment in biotech by 400 times (40,000%) in the past ten years, highlighting the urgency for the US to enhance its capabilities [4] Competition and Innovation - Winning against China requires out-innovating and accelerating technological advancements, rather than solely relying on holding China back [7] - The US should leverage its strengths, including deep capital markets, innovation, risk-taking culture, and universities [7] - Denying China the most sophisticated technology is necessary for national security, but innovation is key to long-term success [6] Supply Chain and Critical Minerals - The US is dangerously dependent on China for critical minerals like copper, lithium, and rare earths [9] - A holistic strategy is needed for mining, processing, and manufacturing critical minerals, potentially involving allies [9] - The US relies heavily on China for medicines and contract manufacturing, necessitating increased domestic production and reliance on allies like Korea and Europe [10][11] Policy and Tools - Targeted tariffs can be a useful tool, but blanket tariffs may simply raise prices for consumers [12] - The US government has a variety of tools beyond tariffs, including DoD procurement and stockpiles [13] - Incentivizing private sector investments, similar to the CHIPS Act, is important [13]

Key Concerns Regarding Prescription Drug Costs - The cost of specialty medications can reach tens or even hundreds of thousands of dollars annually, with US prescription drug prices averaging nearly three times more than in other countries [2] - Employers and families are seeking solutions due to skyrocketing prescription drug prices [1][2] - Alternative funding programs (AFPs) source medications from overseas at a fraction of the cost, but these drugs may not be FDA approved [3][7] Risks Associated with Imported Drugs - Imported drugs may be counterfeit, mislabeled, or improperly handled, potentially rendering them ineffective or unsafe [9][10] - Lack of FDA oversight raises concerns about the quality and safety of these medications [7][8] - The FDA has issued warning letters to companies importing counterfeit or mislabeled drugs [10] Legality and Regulatory Issues - The FDA states that importing drugs available domestically is illegal [4][17] - AFPs argue they are facilitating patients' rights under the personal importation policy, allowing a 90-day supply for personal use, but the FDA disputes this [16][17] Insurance Schemes and Employer Responsibility - Some employer-sponsored insurance plans carve out coverage for expensive specialty medicines and contract with AFPs to source drugs from overseas [6] - Employees need to check their specialty medicine coverage and inquire about the source of their medications [14] - AFPs may claim to source drugs from safe countries like the UK or Canada, but drugs may be transhipped from other countries like Turkey [15]

Partnership & Strategy - TKO Group Holdings and Poly Market are entering a multi-year partnership, with Poly Market becoming the official prediction market partner for UFC and Zalfpha Boxing [1] - The partnership aims to enhance fan engagement by integrating live Poly Market odds into the fight experience, creating a real-time "scoreboard" [3][4] - UFC is looking to integrate new technologies to improve fan engagement and attract a younger audience, extending to platforms like Paramount/CBS [7][14][17] Prediction Market Dynamics - Poly Market allows users to buy and sell predictions like stocks throughout the fight, creating a new way to engage with the sport [6] - Poly Market views event outcome predictions as financial markets, advocating for a fair and efficient market structure compared to traditional sports books [10][12][13] - The company focuses on user behavior that is more like trading than traditional sports betting [13] Sports Betting & Integrity - UFC is involved in both prediction markets (Poly Market) and traditional sports betting (DraftKings) [8] - The increasing availability of data helps monitor betting lines and detect suspicious activities, aiding in policing potential game fixing [19] - UFC emphasizes its commitment to integrity, stating it will aggressively pursue anyone attempting to compromise the sport [23]

Key Concerns & Expectations - The market is slightly concerned about a potential macroeconomic slowdown impacting the theme park segment [2] - The industry expects reiteration of double-digit adjusted earnings guidance for fiscal years 2026 and 2027 [2] - The industry aims to minimize noise in the direct-to-consumer (DTC) segment, despite factors like pricing changes and new platform launches [2][3] DTC Segment Focus - The street anticipates topline reacceleration in the DTC segment, driven by the global expansion of Hulu [5] - The company has guided for double-digit operating income in the DTC segment, which needs to be reiterated [5] - The long-term opportunity lies in positioning Disney's DTC app as a true pay-TV substitute [6] Investor Sentiment - Historically, Disney has traded at a premium to the S&P 500, but currently trades at a discount [7] - The primary reason for the discount is a perceived lack of topline growth [7][8] - American investors are generally supportive of larger investments to fuel topline growth [8]

Robin Hood is betting big on prediction markets and uh artificial intelligence. Joining us now, Steve Quirk, Robin Hood uh chief brokerage officer. What a beautiful chart.Do you just carry around a little piece of paper in your pocket with the the Robin Hood chart on it, Steve. I'm looking at it right now. Good.>> It's mind. It's mindboggling. It really is.We could go back uh could go back to early 2024, I think, would be good. that doesn't really uh do it justice, but uh amazing business is pretty good as ...

Healthcare Industry Challenges - Healthcare insurance premiums are likely to rise sharply next year [1] - The current healthcare system sees inflation far outpace inflation in other arenas [3] - High cost of healthcare, drug development, and skyrocketing healthcare costs in facilities contribute to a system built 80 years ago with built-in inflation [6] - 100 million Americans don't have access to employer-sponsored health insurance [6] - If the uninsured rate increases, it will reverse to an $80 billion problem over the next 10 years [7][8] Affordable Care Act (ACA) Impact - 50% of American small businesses use the Affordable Care Act, and small businesses contribute 50% of the GDP [4] - 27% of farmers use the Affordable Care Act, with the average farmer making $60,000 per year gross [4] - The Affordable Care Act has reduced the uninsured rate from 15% to 8%, saving $10 billion per year in uncompensated care and charity costs [7] - 75% of the people in the ACA today are from red states [5] Proposed Solutions & Perspectives - Proposes creating a qualified account for healthcare spending, putting consumers in charge of buying the product to impact price [9][10] - Suggests redoing the whole system and using the individual market as a single risk pool [12] - Advocates for subsidies to be put into Health Savings Accounts (HSAs) [14] - 40% of Americans borrowed $74.9 billion from banks last year to pay their out-of-pocket costs for healthcare [15] - Argues for evolving the current system, emphasizing the network and risk pool concepts [17][18]

Financial Performance & Strategy - The company plans to grow above the market and improve margins by approximately 600 basis points over the next three years [2] - The company aims to achieve a leverage ratio of 3 to 35 times or better by 2028 and obtain an investment-grade credit rating [6] - Tariffs are impacting margins by about 40 basis points, equivalent to approximately $20 million this year [7] Operational Adjustments - The largest contributor to margin expansion will be the surgical business, focusing on higher premium interocular lenses or implants [4] - The company is modernizing its manufacturing footprint to create efficiency in manufacturing and supply chain [5] - Due to reciprocal tariffs, the company is planning to shift some production from the US to Europe and Asia [9][10] - The company is shifting from global manufacturing by product to regional manufacturing [11] Product Development & Market Focus - The company is developing a contact lens designed specifically for children to address myopia, particularly due to increased screen time [18][19][20] - The company views potential future vision-correcting glasses as an opportunity for participation, leveraging its expertise in optic designs [18] M&A Strategy - The company is focusing on small M&A, business development, and licensing, primarily intellectual property for developing medicines or products [6]