Fast money starts right now. I'm Melissa Lee or traders tonight, Guy Adami, Tim Seymour,

Karen Feinerman and Steve Grasa coming up on Fast, a barrage of big name earnings hitting

the street will break down all the major movers straight ahead. Plus the NASDAQ closing in on going positive for the year,

but is this titanic tech turnaround

headed for a giant iceberg.

And later, what a baby, a bonus, and Beverly Hills have to do with Elon Musk today.

Stick around to find out. But first we have an earnings alert on Disney.

The stock bouncing off after hours lows. The company just made a major announcement

about its dividend. Let's get straight to Julia Borsen with the details.

Julia.

That's right.

Disney's CFO, Christine McCarthy, just announcing

that Disney will be suspending the payment

of its dividend in the first half of the year,

which they say will preserve around $1.6 billion in cash.

Now, this comes as the company announces that COVID-19 cost Disney $1.4 billion to its bottom line in the quarter.

That includes a hit to advertising, movie delays, and of course most of all

the closure of Disney's parks. Now the Disney parks alone had an

operating income loss of $1 billion in the quarter due to COVID driving a

58% drop in operating income. Now here's what the new CEO Bob Chapeck says about the

plan that he just announced to reopen Disney Shanghai on May 11th.

Take a listen.

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