on the desk tonight -- tim seymour, dan nathan, steve grasso, and julie biel. nike announcing that elliott hill will take over at ceo and president in october, replacing john donohoe. sara eisen has the full story. sara, finally? something's happening. >> reflection of the stock price how people were feeling about the leadership. the ceo announced with the board, came to the decision that he will be retiring as of october 13th. he's going to stay on until january 31st, 2025. the new ceo is elliott hill. he starts october 14th. he is a nike veteran. he was at the company for 32 years, startleed as an intern i memphis, worked all the way up to lead basically all the brands, including brand nike and jordan brand, so, responsible for $39 billion in the pnl. and he has -- he stepped down in 2020, shortly after donahoe came in. they're bringing him back. he is, i'm told, extremely well-liked and well-known throughout the organization. worked in 19 different roles over his time there. came up through sales to really know the product. and that's what's so key for nike

melissa lee, coming to you live from studio b at the nasdaq on the desk tonight -- karen finerman, julie biel, die adami, and dan nathan. julie beal is in the house we start off with big trouble in the big banks. jpmorgan falling 7.5% after its president said he expects 2025 net interest income to come in below expectations pinto joins a chorus of bank execss tempering outlooks citi's cfo warned of a credit crunch and brian moynihan told our sara eisen he expects mixed results in the upcoming quarter. >> our trading revenue is sort of -- we think it will be up low single digits, that's kind of counter to what we've heard. >> goldman said down 10% >> investment banking revenue will be softer, because our mix of business in this quarter won't be strong. >> check out shares of ally financial dropping over 17% after the company said credit challenges are increasing, particularly around auto loans so, are the banks sending signals that a true slowdown is here there's a lot to unpack. but i turn to you for jpmorgan and banks. >> so, jpmorgan, i -- you know, my gut reaction to seeing the stock down