AbbVie Just Dropped $10.9B on APG and the Street Is Freaking Out — What Else Is Moving This Earnings Season

While everyone was stress-watching US-Iran ceasefire negotiations and refreshing oil price feeds over the weekend, the real fireworks were happening in biotech and building materials. $ABBV announced a $10.9 billion acquisition of $APG (Apogee Therapeutics), sending the stock screaming ~47% pre-market before getting halted. The deal bolsters AbbVie's immunology pipeline with an experimental psoriasis compound that Bloomberg's Stock Movers crew is calling a potential Dupixent rival — and that framing alone tells you why AbbVie paid up.

Meanwhile, $ACA (Arcosa) popped 11% pre-market on reports that building giant CRH is in advanced talks to acquire the company in what would be CRH's largest deal ever. Two massive M&A prints in one morning is the kind of environment that makes options traders forget to sleep.

On the macro side, JPMorgan's Stephen Parker went on CNBC reiterating an S&P bull case of 8,900, noting the 2026 rally has been entirely earnings-driven — not multiple expansion. With 8 of 11 S&P sectors expected to post double-digit earnings growth, the backdrop for long positions into summer reporting season looks legitimately compelling. Volatility is the price of admission, and right now, the menu is full.