Stock Market News for October 15, 2026

At a glance

On October 15, 2026, Penske Automotive Group agreed to be taken private for $212.00 per share; Alcoa reported third-quarter 2026 net income attributable to the company of $483 million; Charles Schwab reported record Q3 core net new assets of $190.4 billion and diluted EPS of $1.62; Recursion announced a $200 million follow-on offering and positive clinical data for REC-4881.

Deals and acquisitions

Penske Automotive Group (PAG) agreed to be taken private for $212.00 per share in cash by a Penske Corporation–Mitsui buyer, valuing the company at about $16.3 billion and expecting closing in Q1 2027 subject to approvals.

CCC Intelligent Solutions (CCC) signed a definitive agreement to be acquired by a GTCR-led consortium including Elliott for $7.75 per share in cash, implying an enterprise value of approximately $6.1 billion, with closing expected in Q1 2027.

Goldman Sachs Group (GS) completed a recapitalization of an Atlanta industrial portfolio totaling 1,222,596 square feet through a continuation vehicle alongside Meritex and Vintage Strategies, with Meritex retaining majority ownership and operating control.

Tessera Defense and Homeland Security (HLSQ) made a payment to secure an option with a $1 million refundable deposit to lock a 90-day option to acquire control of RT LTA Systems (51%), with the deposit counting toward the purchase price if exercised.

Earnings and guidance

Alcoa (AA) reported third quarter 2026 results with net income attributable to the company of $483 million, diluted EPS of $1.81, revenue of $3.704 billion, adjusted EBITDA of $789 million, and free cash flow of $472 million.

The Charles Schwab (SCHW) reported third quarter 2026 results with diluted EPS of $1.62, net revenues of $7,171 million, GAAP net income of $2,906 million, and record core net new assets of $190.4 billion.

Prologis (PLD) reported third quarter 2026 results with diluted net earnings of $0.86 per share, revenue of $2,388 million, Core FFO of $1.60 per diluted share, and lowered 2026 net earnings guidance to $4.05–$4.15 per diluted share.

PNC Financial Services Group (PNC) reported third quarter 2026 net income of $2.1 billion, diluted EPS of $4.97 (adjusted $5.09), revenue of $6.562 billion, and sequential increases in average loans and deposits.

Marsh (MRSH) reported third quarter 2026 results with revenue of $6.9 billion, GAAP operating income of $1.2 billion, diluted EPS of $1.69, and adjusted EPS of $2.03.

Interactive Brokers Group (IBKR) announced third quarter 2026 results with GAAP diluted EPS of $0.69, net revenue of $1.914 billion, pretax income of $1.496 billion, and customer accounts of 5.58 million.

Venture Global (VG) entered power and grid frame agreements with GE Vernova and Baker Hughes Energy Services for up to 16 power islands (each 720 MW), expecting its first purchase order by year-end 2026 and potential to develop up to 10 GW of compute capacity by 2034.

Akamai Technologies (AKAM) announced customer adoption driving cloud momentum across AI, enterprise SaaS and digital media workloads including NVIDIA RTX PRO 6000 Blackwell GPU deployments and multiple enterprise migrations and pilots.

Financings and offerings

Recursion Pharmaceuticals (RXRX) announced a $200 million underwritten follow-on offering of Class A common stock and reported REC-4881 produced a 47% median reduction in total gastrointestinal polyp burden after 12 weeks in adults with familial adenomatous polyposis.

Tempus AI (TEM) said it will report third quarter 2026 results before markets open on November 2, with CEO Eric Lefkofsky and CFO Jim Rogers leading an 8:45 a.m. ET conference call and webcast.

Conexeu Sciences (CNXU) closed a private placement raising approximately $5 million via 1,666,667 units at $3.00 each, with $250,000 of management and director subscriptions held in escrow pending shareholder approval.

Corporate actions and dividends

Vistra (VST) announced redemption of all outstanding Series A preferred stock at $1,000 per share covering 1,000,000 shares for an aggregate liquidation preference of $1.0 billion, with no accrued and unpaid dividends as of the redemption date.

Alcoa (AA) declared a quarterly cash dividend of $0.10 per share payable on November 13, 2026, to stockholders of record as of October 27, 2026.

Our Bond (OBAI) announced the effective date of a 1-for-20 reverse stock split to take effect at the start of trading on October 19, 2026, reducing outstanding shares proportionally and adjusting options and warrants under their terms.

Capstone Holding (CAPS) announced a 1-for-30 reverse split to take effect at market open on October 19, 2026, consolidating outstanding shares and proportionately adjusting equity awards, warrants and convertible note terms.

Legal and regulatory

Guardant Health (GH) was named in a PTAB decision in which the Patent Trial and Appeal Board upheld all challenged claims of the University of Washington–licensed ’127 patent in a final written decision on October 14, 2026, finding Guardant had not shown the claims unpatentable.