00:00So it's called on holding. I won't hold a grudge. The ticker symbol, O-N-O-N. It's funny. I
00:06always
00:06want to say onion, but it's not. It's O-N-O-N. It is up 6% here in the
00:12pre-market and it could
00:13use it because it's down more than 40% year to date. All right. This story is definitely a blow
00:18to Nike and we're seeing that stock down about 1% right now. So it has signed French soccer
00:22superstar Mbappe as a partner. He's going to develop football products. He's going to represent
00:26the brand. Remember, he previously represented Nike. So this is the Swiss company backed
00:33by tennis great Roger Federer. Mbappe is going to be in their newly designed boots. They're
00:39looking, they're called light spray. There's this light spray shoemaking technology. And
00:43they also hired, is it Thierry Henry? Yeah. Is this how you say it? Thierry Henry, the American
00:50white, former star player as its director of football. So this company was founded in 2010.
00:56I looked it up. So not that old. It started with running shoes, expanded into tennis and outdoor
01:01sports, and it's going to hold an investor day on Tuesday. So it's going to lay out some of the
01:06financial targets. We don't know the financing of this deal with Mbappe. Very cool. Okay. But
01:10also, can I just mention Nike on Monday will be removed from the S&P 100 index of large companies.
01:16So
01:16that's why it's also coming under pressure. We want to move to biopharma now and talk about
01:22Zenon Pharma. So this is a ticker symbol XENE facing its worst day since 2017. The stock is
01:28down 23% here in the pre-market up though, 28% year to date. It submitted a regulatory filing
01:35for
01:35its lead drug candidate that puts it on the brink of its first commercial product. So you think they
01:40might celebrate that, right? But unfortunately, the biotech firm also voluntarily paused enrollment
01:46in clinical studies of a major depressive disorder and bipolar depression. And so Wall Street split
01:51on this and that's what's bringing Zenon down. And I want to get to Netflix because something rare
01:56happened here. It received its first bearish analyst rating in months. Wells Fargo downgrading
02:02Netflix to underweight. He cites concerns about user engagement, also lowering the price target there
02:08from $80 to $57. That is the lowest on the street right now. The average price target for Netflix is
02:14actually $95. The stock though has underperformed this year. It's down about 20%. So it begs the
02:19question, why is this the only bearish call on Netflix right now? The stock is down about 4%
02:25pre-market. Yeah, the annual Stephen Cahal, good guy. Tried to hire him once, but he's doing a good
02:29job at Wells Fargo. All right, leave him alone. He's doing well. Yep. He did say though they need a
02:33breakout hit, that it's been a while since Netflix had an original, and it is true, breakout hit. I think
02:38about just what I'm watching now. It's not necessarily on Netflix. I'm watching the old stuff that I
02:43didn't watch before, like Better Call Saul. That's what I'm watching now. That's from like
02:4610 years ago. Nice. Well, I'm Ted Lasso. Now I'm all in the new season, and I love it, and
02:50that's
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