IDD Daily Brief: Tuesday, Oct 20, 2026 — Tradeweb, Silgan and MKS strike deals as regional banks report
Published
The Big Picture
- Monday brought three deals. Tradeweb agreed to buy bond-trading platform Trumid for about $1.97 billion, Silgan struck a roughly $3.4 billion deal for Trivium that will hand it about $2.3 billion in cash, and MKS agreed to sell Ophir Optics to TTM Technologies for $650 million.
- Regional banks kept up the earnings season. Zions lifted EPS to $1.78 from $1.48 as net charge-offs shrank to $3 million, Wintrust posted its seventh straight record quarter at $3.37 a share, and Western Alliance earned $2.45.
- Executives switched seats. Danny Brown left Chord Energy to become Expand Energy's CEO on Oct. 26, Chord named Michael Lou to replace him, and Mattel brought in longtime Amgen finance chief Peter Griffith as CFO.
Earnings
Reported since yesterday's brief
- Fifth Third (FITB): Net income available to common shareholders was $828 million, or $0.90 per diluted share, and $1.13 adjusted, according to its 8-K. Net interest income rose 49% from a year earlier to $2.28 billion, mainly reflecting the addition of Comerica.
- Zions (ZION): Net earnings rose to $262 million, or $1.78 a diluted share, from $1.48 a year earlier, as net loan charge-offs fell to $3 million from $56 million, according to its 8-K.
- Wintrust (WTFC): Record net income of $239.1 million, or $3.37 a diluted share, compared with $2.78 a year earlier, the company said in an 8-K.
- Western Alliance (WAL): Net income rose to $277.2 million, or $2.45 a diluted share, from $2.28 a year earlier, according to its 8-K. Nonaccrual loans fell to 0.79% of funded loans.
- W. R. Berkley (WRB): Operating income rose to $1.17 a share from $1.10, while net income fell to $1.14 from $1.28, according to its 8-K.
- RLI (RLI): Operating earnings rose to $0.86 a share from $0.82 on an 86.2 combined ratio, while net earnings fell to $0.88 from $1.35, the company said in an 8-K.
- Crown Holdings (CCK): Adjusted EPS rose 7% to $2.39 as global beverage can volumes grew 6%, according to its 8-K. Crown guided full-year adjusted EPS to $8.35 to $8.45.
Reporting ahead
- Tradeweb (TW) said it will report third-quarter results on Oct. 29, according to its 8-K.
Company News
- agreed to acquire Trumid, which runs an electronic credit trading marketplace, for about $1.97 billion, including about $220 million for tax assets, according to its 8-K. It targets a close in the first half of 2027.