IDD Week in Review: Friday, Oct 16, 2026 — Big banks post strong quarters as inflation picks up and deals roll on

The Big Picture

• Big banks posted strong third quarters. Goldman Sachs' EPS jumped to $17.01 from $12.25, JPMorgan earned $15.3 billion, and Morgan Stanley's equities revenue rose 41%.

• Inflation picked up in September. Consumer prices rose 0.6% for the month, lifting annual inflation to 3.7%, and producer prices posted their largest monthly gain since March 2022.

• Dealmaking stayed busy. Proofpoint agreed to buy Varonis for about $6.3 billion, a GTCR-led group agreed to take CCC Intelligent Solutions private, and Copart and Flex closed acquisitions.

Top Stories of the Week

• UnitedHealth raised its outlook. Third-quarter adjusted EPS rose to $4.69 from $2.92 as the medical care ratio improved to 88.4% from 89.9%, according to its 8-K. The company now expects 2026 GAAP EPS of at least $19.50 and adjusted EPS of at least $20.50.

• Johnson & Johnson took a talc charge but raised guidance. Sales rose 5.9% to $25.4 billion, while GAAP EPS fell to $0.09 on a one-time charge for its proposed talc litigation resolution and deal costs, the company said in an 8-K. It raised its 2026 adjusted EPS guidance midpoint to $11.10.

• Varonis agreed to sell itself. Thoma Bravo portfolio company Proofpoint will pay $49.75 per share in cash, about $6.3 billion, with closing expected in the first half of 2027, according to its 8-K.

• CCC Intelligent Solutions is going private. A GTCR-led consortium that includes Elliott agreed to buy the company for $7.75 a share in cash, about $6.1 billion in enterprise value, according to its 8-K.

• Corteva faced a court order on payouts. A federal court in Indiana issued a temporary restraining order in a suit by 15 states and one sovereign challenging its separation from Vylor, barring dividends and buybacks, then stayed the order pending an emergency appeal, according to its 8-K.

• Deals closed and expanded. Copart completed its $10.50-a-share cash buyout of ACV Auctions, and Flex completed its $4.4 billion cash acquisition of EPC Power, according to their 8-Ks. IonQ agreed to buy Elisity in an all-stock deal valued at up to $1.3 billion.