Hi, welcome to the Bloomberg Deals newsletter. Today, we look at some numbers that will make unhappy reading for technology bankers. Elsewhere, Honeywell salvages its Catalyst takeover by slashing the price. Today’s top stories Gilead to buy biotech Arcellx in deal worth up to $7.8 billion . Honeywell slashes price in deal for Johnson Matthey’s Catalyst. KKR agrees to buy school firm XCL in $1.3 billion deal. Merck to create a separate cancer unit as patent cliff looms. Centerview settles suit by ex-analyst over her need for sleep . Tech trough Technology bankers are struggling to gain traction in 2026 as the selloff in software stocks rolls markets and hits deal-flow in the sector. The value of tech mergers and acquisitions is running around 20% lower than at this point in 2025—at little more than $40 billion, Bloomberg-compiled data show. That compares to a 5% rise is global M&A values. The data strip out the combination of Elon Musk’s SpaceX and xAI earlier this month. The slump comes after a record run for tech deals last year that many thought would continue into 2026, as the boom in artificial intelligence drove the need for companies to adapt in part via M&A. Instead, new AI tools from companies like Anthropic have led Wall Street to dump shares and debt of so-called software-as-a-service providers, which investors believe will be mothballed by the emerging tech. A handful of software firms, including McAfee , have decided to release earnings early in a bid to convince lenders of their resilience to the disruption. This is having a particularly nasty effect on private equity firms, given the industry owns many incumbent software providers. There are growing fears buyout firms are going to be stuck with these companies, many of which were acquired at the height of the market in 2021, which could then impact their ability to fundraise and strike new deals. Some advisers have been cautioning against overreacting, however. In a LinkedIn post , Michal Katz, head o...

格隆汇2月23日｜据以色列时报，部分美军空中加油机和C-17运输机于过去一天内降落在以色列特拉维夫的本·古里安机场。目前尚不清楚这些军用飞机是否仅将该机场作为临时经停点。针对美军在以色列主要民用机场进行此类部署，以色列官方目前尚未发表任何评论。

imaginima/iStock via Getty Images A massive winter storm across the northeastern U.S. has knocked out power to ~511K homes and businesses on Monday but is expected to taper off by the end of the day. The hardest-hit utilities include Eversource Energy ( ES ), with 206,909 of its 3.32M customers without power, followed by FirstEnergy ( FE ), with 80,060 of its 6.16M customers affected, and National Grid ( NGG ), with 64,340 of its 3.08M customers hit, according to PowerOutage.us; by state, Massachusetts has 255,864 outages, New Jersey has 134,809, and Delaware has 76,360. U.S. natural gas futures traded higher but well off earlier gains of as much as 6.8%; recently, Nymex gas ( NG1:COM ) for March delivery was +1.1% at $3.081/MMBtu. While a bullish weather forecast drives upside at the front of the curve, the shift "at present appears too small to meaningfully change the outlook for natural gas," Eli Rubin of EBW Analytics said in a note. More on FirstEnergy and Eversource Energy FirstEnergy Q4 2025 Earnings Call Presentation Eversource Energy Q4 2025 Earnings Call Presentation Eversource Energy: Risks Abound But Rewards Are Outsized

The Vanguard Total International Stock ETF (NASDAQ:VXUS) and the iShares Core MSCI Emerging Markets ETF (NYSEMKT:IEMG) both aim to provide diversified international equity exposure, but their approaches and underlying indexes set them apart. This comparison examines how each fund’s costs, returns, risk, and portfolio makeup may appeal to different investor objectives. Beta measures price volatility relative to the S&P 500. The 1-yr return represents total return over the trailing 12 months. Continue reading

PS6 Handheld leak hints powerful AMD chip and 24GB unified memory Sportskeeda Tech

Cotton prices are up 16 in the thin March contract, but lower in the rest on Tuesday morning, Futures posted a rally or 110 to 150 points across most contracts on Friday, as March closed out the week with a 92 point gain. Crude oil futures was down 4 cents...

Wall Street Bulls Look Optimistic About Broadcom Inc. (AVGO): Should You Buy? Finviz

Should You Invest in Nvidia (NVDA) Based on Bullish Wall Street Views? Finviz

格隆汇2月23日｜美国2月达拉斯联储商业活动指数录得0.2，为2025年7月以来新高。

道琼斯指数暴跌635点，跌幅1.3%，标普500指数下跌0.6%，纳斯达克指数下跌0.7%。现货黄金上涨超过1%，黄金期货上涨超过2%；比特币则一度跌破65,000美元。 在美国最高法院推翻其“互惠关税”后，总统特朗普宣布将全球关税税率从上周五公布的10%立即上调至15%。 欧盟警告称，此举将危害美欧贸易协议，并要求美国政府针对后续步骤提供“完全透明”的信息。

The i Shares S&P Small-Cap 600 Growth ETF (NASDAQ:IJT) and the iShares Morningstar Small-Cap Growth ETF (NYSEMKT:ISCG) both target growth-oriented small-cap U.S. stocks, but they differ in cost, diversification, and trading characteristics. This comparison examines how ISCG and IJT stack up on critical factors like expenses, performance, risk, and portfolio makeup. Beta measures price volatility relative to the S&P 500. The 1-yr return represents total return over the trailing 12 months. Continue reading

格隆汇2月23日｜比特币一度跌破6.5万美元，美股市场加密货币概念股普跌。其中，Abits跌超26%，iPower跌超24%，明成集团跌16%，灿谷、BitGo Holdings、Nakamoto跌超6%，嘉楠科技、Bit Origin跌超5%，Robinhood、Strive跌超4%。

After conceding another late goal on Saturday, we look at the stats that show Leeds would be seventh in the Premier League if games ended after 85 minutes.

This comparison looks at two of the most popular small-cap index ETFs, each offering broad exposure to U.S. smaller companies. The Schwab U.S. Small-Cap ETF (NYSEMKT:SCHA) and the Vanguard Small-Cap ETF (NYSEMKT:VB) both contain a diversified selection of U.S. small-cap stocks , but they differ on size, risk profile, and sector tilts, giving investors a few notable trade-offs to consider. Beta measures price volatility relative to the S&P 500. The 1-yr return represents total return over the trailing 12 months. Continue reading

NicoElNino/iStock via Getty Images In the last three months, the narrative in tech changed from being the only game in town to anything with recurring software revenue is one AI agent away from becoming obsolete. Software, particularly SaaS, is taking the worst hit. If AI can write code, then anyone can build their own tools, so seat-based software gets commoditized, margins compress, and the whole sector deservedly rerates after the overvaluations post the pandemic boom... right? I don't buy this narrative. That said, I'm not buying the dip either. In fact, I am raising cash aggressively. Why? The information technology sector accounts for 33% of the SPY. In fact, if you add up the communication services contribution (10.2%), you obtain that 43% of the index is exposed to the combined two sectors! Let that sink in before you go on and celebrate the rotation out of tech. That's a lot of tech (and therefore, AI) exposure, and the recent rotation is not positive for the broader markets. This rotation is why the S&P 500 has not ripped to new highs since it started in October last year. In fact, I don't expect new highs until the second half of the year, and I believe we could see a 10% drop in the S&P 500 in the next few months. Overall, I am mostly in industrials right now (aerospace and defense). Tech and software need a further rerate before I load the truck again (likely with LEAP call options). Below, I present my view on the software selloff and the impact on the broader markets. The Software Selloff In Charts I'll start first with the visuals and then go into the details of my thesis. For disclosure, I am the owner and founder of Guidance Terminal, the visual tool used in this section. If you want to roast my software in the comment section (or propose new features), be my guest. The visual below represents the market-cap-weighted returns of the S&P 500 in different timeframes (each column is a different timeframe), sorted by the highest return, as of the post-m...

Taiwan Semiconductor, NVIDIA and Vertiv ride a $650B AI spending wave as clean energy and biotech fuel 2026's market split.

The Zacks Analyst Blog Highlights Taiwan Semiconductor, NVIDIA, Vertiv, Albemarle and Axsome Therapeutics Yahoo Finance Singapore

The Zacks Analyst Blog Highlights Taiwan Semiconductor, NVIDIA, Vertiv, Albemarle and Axsome Therapeutics Yahoo Finance

The Zacks Analyst Blog Highlights Taiwan Semiconductor, NVIDIA, Vertiv, Albemarle and Axsome Therapeutics Nasdaq

toeytoey2530/iStock via Getty Images Bristol Myers Squibb ( BMY ) said that topline data from a phase 2 trial of Reblozyl (luspatercept) for anemia in adults with alpha (α) thalassemia met its primary goals. For non‑transfusion‑dependent ("NTD") and transfusion‑dependent ("TD") groups, Reblozyl led to a significant increase in hemoglobin levels in NTD patients, and a significant decrease in red blood cell ( RBC ) transfusion burden in TD patients compared to placebo. Reblozyl is currently approved to treat anemia in beta thalassemia More on Bristol Myers Squibb Bristol-Myers: I'm Buying Post Earnings Bristol-Myers Squibb: Oncology Franchise Remains A Core Strength Bristol-Myers: Walking Blindfolded To A $30 Billion Patent Cliff Dr. Reddy’s biosimilar for Bristol’s Orencia undergoes FDA review NIH director reportedly being tapped as acting CDC director

Novo Nordisk (NYSE: NVO) is taking it on the chin this morning, after revealing the latest clinical trial results for weight loss using its CagriSema drug (a 50-50 mix of amylin analog cagrilintide and Novo's glucagon-like peptide-1 (GLP-1) receptor agonist). After an 84-week trial, Novo reported that its patients achieved 23% weight loss with the drug. That sounds like pretty good news, but investors don't seem to like the number -- and as of 10:10 a.m. ET, Novo Nordisk stock is down 14.8%. Image source: Getty Images. Continue reading

On Thursday, Amazon.com, Inc. (NASDAQ:AMZN)-backed Anthropic’s CEO Dario Amodei struck an optimistic tone in India. Anthropic Expands In India With New Bengaluru Office Speaking at AI Impact Summit 2026, Amodei said that AI progress over the past two-and-a-half years has been "absolutely staggering." Anthropic this week opened a new office in Bengaluru, marking its second location in the Asia-Pacific region. The company has underscored India's importance as its second-largest market for Claude.

TSMC Unveils Aggressive Expansion to Meet Surging Chip Demand AD HOC NEWS

美国2月达拉斯联储商业活动指数 0.2，预期 -0.8，前值 -1.2。

J Studios/DigitalVision via Getty Images Investors have been a tough bunch to please in 2026 amid volatile markets, and stocks that were already struggling heading into the year have seen even sharper, punishing declines. The market has not been amenable to rebound plays this year, especially in the tech sector. Zillow ( Z ), the leading real estate website and database in the United States, has been a notable decliner. Despite diversification into the rentals business, investors have increasingly scrutinized a weak housing market recovery and brewing legal troubles for the company. A recent Q4 earnings print, despite a slight beat to consensus estimates, did little to lift spirits on the stock, sending Zillow down ~20% after the print and bringing losses over the past year to nearly 50%. The core question on investors' minds now is: when, if ever, will the bleeding in Zillow end? Data by YCharts I last wrote a "Sell" article on Zillow in January, when the stock was trading at $65 per share. To me, 2026 is not a year for passive investing; that is, every position needs to be reviewed carefully, especially in light of extreme volatility. Zillow's merits in the $40s are definitely different from when the stock was at $60, and I consider the stock to be in deeply oversold territory now. That said, I also think there are significant fundamental overhangs against the stock that will not get a near-term resolution and limit the company's ability to stage a near-term upward re-rating, ultimately leading me to upgrade the stock back up to "N eutral." At current share prices, I now see more of a balanced bull and bear case for Zillow. On the bright side for the company: Rentals and mortgage revenue are driving growth and offsetting Premier Agent softness. The company's swift pivot into offering rental listings and generating commissions from multifamily, multi-unit landlords has been a major shift for the company and now represents over a quarter of overall revenue. Mortgage...

Nvidia Corp (NASDAQ:NVDA, XETRA:NVD) reports fourth-quarter results on Tuesday after the US market closes, and Wedbush Securities has a pointed question heading into the numbers: When will investor sentiment actually shift? The US broker maintains its outperform rating and $230 price target,...

KairosDee/iStock via Getty Images Introduction Bank of Marin ( BMRC ) has been reshuffling its portfolio a few times now in the past few years. The final "clean-up" should now be over as the bank recategorized its entire securities portfolio as securities available for sale. As these securities are now all marked to market, and as some were sold at a loss, the FY 2025 results were under severe pressure. But on an underlying basis, the results remain pretty decent. Data by YCharts A Higher Net Interest Income Overshadowed by a Loss on the Sale of Securities While the bottom-line result in the fourth quarter shows a very substantial loss, it’s important to understand what has led to this loss and how the underlying results are. As you can see below, Bank of Marin reported an interest income of $41.8 million in the final quarter of 2025, which represents an increase of approximately 7% compared to the NII in the third quarter of last year. Moreover, the total amount of interest expenses decreased by approximately 2%, causing the net interest income to increase by approximately 10% to $31.2 million. BMRC Investor Relations While the non-interest income is traditionally relatively low, the Q4 2025 results also include a loss on the sale of securities of almost $70 million. This obviously had a very negative impact on the bottom line result of the bank, which indicates a net loss of just under $40 million for a net loss of $2.49 per share. As the bank recorded a total of $88 million in losses on the sale of securities in 2025, its entire financial year looks pretty bad with a net loss of $36 million. But adjusted for the impact of the sale of those securities, the underlying pre-tax income was $36 million, which would have resulted in an EPS of $1.66. Still not great, but definitely painting a better picture than the headline net loss. Given the focus on expanding the loan book, I am anticipating additional loan growth, and in combination with expanding net interest margi...

The Walt Disney Company (NYSE: DIS) may be entering a pivotal year. With Avengers: Doomsday, Toy Story 5, and Moana lined up, 2026 could deliver multiple billion-dollar films. If the slate performs as expected, earnings growth and valuation expansion could follow, potentially setting the stage for meaningful upside. Stock prices used were the market prices of Feb. 13, 2026. The video was published on Feb. 22, 2026. Continue reading

Some analysts are worried that the artificial intelligence (AI) bubble will burst soon, causing a market crash. Whether or not there's something to these fears, it's a good idea for investors to buy shares of companies that can survive downturns and thrive long after. One stock I'd bet on right now is Eli Lilly (NYSE: LLY) . Here's why. Eli Lilly has historically been one of the largest players in the diabetes medicine market, and it remains so today. However, over the past five years, the stock has crushed broader equities thanks to its work in the weight-loss drug market. Lilly's Zepbound (tirzepatide) is currently the leader in this space. Tirzepatide, the compound also marketed as Mounjaro for diabetes, became the world's best-selling drug last year, even though it was only its third full year on the market. Image source: Getty Images. Continue reading

Newsom Says He's Like Blacks Because He 'Can't Read' And Got Low SAT Score California Governor Gavin Newsom (D) needs to work on his pandering skills - after telling a crowd of black people that he's just like them because he can't read and got a low SAT score . "I’m not trying to impress you, I’m just trying to impress upon you, ‘I’m like you. I’m not better than you.’ I’m a 960 SAT guy ," Newsom told Atlanta Mayor Andre Dickins during a Sunday night event promoting his new book. " And I’m not trying to offend anyone, " the potential 2028 Democratic contender continued. "I’m not trying to act all there if you got 940 … You’ve never seen me read a speech because I cannot read a speech." Of note, the average SAT score for blacks is a 907 out of a possible 1600, according to 2024 College Board data , while white SAT takers received an average of 1083. Watch: Gov. Newsom to a black crowd in GA: "I am like you. I'm a 960 SAT guy. I can't read." pic.twitter.com/4Gk0WKbIYz — End Wokeness (@EndWokeness) February 23, 2026 Newsom, 58, graduated from Santa Clara University in 1989. He received a letter of recommendation from former California Gov. Jerry Brown, who had appointed Newsom’s father to serve as a state appellate judge. But the governor has insisted the only reason he was admitted was a partial baseball scholarship. “I don’t think it’s relevant at all,” Newsom told the New York Times earlier this month about the Brown letter. “The ticket to Santa Clara came through the baseball, not anything else. And that was the point I was making in the book.” Newsom, 58, graduated from Santa Clara University in 1989. He received a letter of recommendation from former California Gov. Jerry Brown, who had appointed Newsom’s father to serve as a state appellate judge. Gavin "I Grew Up Poor" Newsom was in the SF Chronicle 1991 "Children of the Rich" pic.twitter.com/zhFE8vsN3Y — End Wokeness (@EndWokeness) February 23, 2026 But the governor has insisted the only reason he was admitte...