00:00Let's start with the biopharma sector. There's a big winner there this morning, Forte Biosciences, ticker symbol FBRX.
00:07This is a clinical stage biopharma company based in Dallas. It's up 36% right now.
00:13It has been on a tear though, guys, up 100% year to date, 370% in the past year.
00:19This is a company with a market cap of about $1.1 billion.
00:22It is being bought out by the Netherlands-based Argenix for $2.2 billion in cash.
00:28That's $77 a share. Just to give you an idea, last traded at about $55 a share.
00:34So Forte's developing a promising drug for treating vitiligo and celiac disease that they say could be used to address
00:40multiple autoimmune conditions.
00:42Odd thing this weekend, I have no idea how big ASML is in the Netherlands.
00:49Oh, it's huge.
00:50It's like ginormous. There's no American equivalent.
00:54No.
00:54It's ginormous.
00:56They got some winners over there in the Netherlands.
00:58All right, let's stick with medical, shall we, and go AstraZeneca, a little overseas there.
01:03AZN is the ticker symbol, up about, oh, just 1%.
01:06It has been down 3.5% though, year to date.
01:09It reported higher than expected profit, boosted by its blockbuster cancer medications.
01:15Earnings per share rising 21% last quarter.
01:18The company also released some promising results for an experimental treatment for gastric cancers.
01:23It now expects sales of more than $5 billion a year for an experimental drug for chronic obstructive pulmonary disease.
01:32So that's stock getting a bit of a lift today.
01:34I look up, when there's an ad on TV, an old fart ad, we're all dying, this will save you.
01:40I look up what the annual cost is for these drugs.
01:43They're like $25,000, $30,000 a year.
01:46And then it's paid, but I don't know who pays for it all.
01:49It's all like a shrouded in mystery, and it shouldn't be.
01:52Yeah, well said, and it comes down to, like, you pay $1.298, and everybody else pays.
01:58I don't know who the everybody else is.
02:00Like, through the roof.
02:01Insurance or whatever.
02:02We need somebody to come in and clear it up for us.
02:04Yes, we do.
02:05This one was, I picked this one especially for Paul Sweeney, Paramount Skydance.
02:09Weird one.
02:09So, down just fractionally, and Warner Brothers down 1.6%.
02:14But these two are at the altar.
02:16They just cannot tie the knot.
02:18Paramount and Warner Brothers still tethered to one another.
02:21A federal court considering claims that their $81 billion deal violates antitrust law.
02:26And guess what?
02:27This case could stretch well into next year.
02:30Meanwhile, it's going to be ticking on what Paramount owes Warner Brothers in terms of late fees.
02:36Or if it ultimately doesn't happen, there's a huge breakup fee.
02:38Huge.
02:39Which, I mean, the attorneys for Warner Brothers Discovery, I think, did a great job here.
02:43They saw this coming potentially, maybe not from the states, but, and they said, if this happens, we're going to
02:50get paid for this incremental risk.
02:51So, here's my question.
02:52If it doesn't happen, Warner Brothers gets paid richly, and then what happens?
02:56Who comes in, swoops in, and buys them?
02:58No idea.
02:59And who operates these companies?
03:00I'm like, how are these companies going to operate over the next 12 months while this trial goes on?
03:05Are they going to make investments?
03:0620 seconds, and we'll do this longer.
03:09I'll do it longer.
03:09Is it...
