Bloomberg Stock Movers
2026-06-22 · Hosted by — · Bloomberg / iHeartMedia
Executive Summary
An “M&A Monday” roundup centered on deal-driven moves: Arcosa (ACA) jumped on reports that building-materials giant CRH is nearing its biggest-ever acquisition, and Apogee Therapeutics soared over 50% (then halted) on a reported ~$11 billion takeover by AbbVie. A separate AI-power tie-up between Microsoft and Chevron and a blockbuster Getty Images / OpenAI licensing deal that sent Getty up 200% rounded out the session’s biggest movers.
Key Stories & Changes
1. M&A Monday: Deal-Driven Movers
ACA: Arcosa — +11% (pre-market) — CRH nearing its biggest-ever deal to acquire Arcosa, per FT
APGE: Apogee Therapeutics — +50%+ (halted) — AbbVie closing in on a ~$11B takeover for its inflammatory-disease drugs
ABBV: AbbVie — ~+1% (pre-market) — Acquirer rising on deal seen as accretive — unusual for a buyer
CVX: Chevron — ~+1% (pre-market) — Up despite weaker crude on 20-year Microsoft AI data-center power deal
GTY: Getty Images — +200% (pre-market) — OpenAI licensing partnership reverses losses since November
2. CRH–Arcosa: Building-Materials Consolidation
CRH is in advanced discussions to acquire Arcosa (ACA), with an agreement possibly as soon as next week, per the Financial Times citing people familiar.
Arcosa’s business spans aggregates, concrete, and power/utility assets (e.g., telecom towers); it competes directly with CRH.
CRH market value ~$74 billion vs. Arcosa ~$8 billion; CRH has historically expanded via acquisitions, including buying assets from Holcim and Lafarge ahead of their merger.
3. AbbVie–Apogee: ~$11B Pharma Takeover
AbbVie (ABBV) is closing in on a nearly $11 billion deal to buy Apogee Therapeutics, per the FT.
Apogee shares up over 50% and halted in the pre-market, implying an imminent announcement.
AbbVie is targeting Apogee’s inflammatory-disease drug pipeline; ABBV itself rose ~1%, with the deal seen as accretive.
4. Microsoft–Chevron AI Power Pact
Chevron (CVX) entered a 20-year deal with Microsoft to supply gas-fired power to a proposed Texas data center.
Plant expected to begin providing power in 2028, ramping to nearly 2.7 gigawatts.
Microsoft aims to double its data-center footprint over the next two years; Chevron rose ~1% despite crude softness.
5. Getty Images–OpenAI: A 200% Reversal
Getty Images (GTY) surged 200% to ~$1.82 on a partnership where Getty’s licensed content libraries will appear across ChatGPT search and discovery experiences.
Getty had closed at a record low the prior Wednesday; the deal sets it up to erase losses posted since November.
Marks a strategic reversal: Getty previously resisted AI, built its own image generator, and sued Stability AI for allegedly copying 12 million-plus photographs — now it is embracing AI partnerships.
Trends Identified
1. M&A as the Dominant Market Catalyst
Three of the session’s biggest moves — Arcosa, Apogee, and the Getty reversal — were driven by deal or partnership news rather than fundamentals, underscoring an active M&A and corporate-tie-up environment. Notably, AbbVie rose as an acquirer, a sign the market viewed its purchase as value-additive rather than dilutive.
2. AI Demand Reshaping Energy and Content
Both the Microsoft–Chevron power pact and the Getty–OpenAI licensing deal show AI demand pulling in adjacent industries: data centers are driving long-dated natural-gas power commitments (Chevron up even as crude fell), while content owners that once fought AI are now monetizing their libraries through it.
3. Capitulation to AI by Former Resisters
Getty’s pivot — from suing Stability AI to licensing content to OpenAI — exemplifies former AI adversaries embracing partnership as the path to value, a notable shift in the legal-versus-license posture around training data. —-
Sentiment Analysis
Overall Market Sentiment: Risk-On / Deal-Driven
The episode’s tone is upbeat, with multiple double- and triple-digit pre-market gains powered by acquisition and AI-partnership news.
Risk Factors Highlighted
Deal-completion uncertainty: Arcosa and Apogee moves hinge on deals not yet finalized; agreements are reported as “nearing” or “closing in on.”
Trading halt on Apogee: The pre-market halt signals pending news that could move the stock sharply in either direction.
Crude oil weakness: Softer crude pressures oil majors generally, even as Chevron bucked the trend on the AI deal.
Execution risk on long-dated power buildout: The Microsoft–Chevron Texas plant is not online until 2028, leaving multi-year execution risk.
Getty’s valuation volatility: A 200% move off a record low reflects extreme repricing and prior structural weakness in the stock.
This episode was covered in today’s The Market Signal — 2026-06-22, a cross-source synthesis of multiple podcast reports.