Stock Movers Closing Bell: IBM Plunges, Door Dash Sinks Arcellx Soars
Feb 23, 2026
Big swing trades and takeover drama dominate the conversation. A biotech stock rockets after a major acquisition agreement. A legacy tech name tumbles amid claims about AI modernizing old code. A food-delivery company slides after a viral report questioning AI risks. Retailers and bond yields also draw attention as market responses unfold.
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Eli Lilly Boosted By Competitor Miss And Label Expansion
- Eli Lilly rose about 4.8% after Novo Nordisk's obesity shot underperformed Lilly's rival and the FDA expanded the ZepBound label.
- Carol Massar said the FDA approval included a four-dose single-patient quick pen, broadening patient options.
Anthropic Tool Threatens IBM's COBOL Moat
- IBM faces direct AI disruption as Anthropic's Claude Code can modernize COBOL, a language that runs mainly on IBM machines.
- Romaine Bostick highlighted the stock plunged 13% in its biggest one-day drop since 2000 tied to that announcement and AI risks.
Gilead Acquisition Sends Arcellx Soaring
- Gilead agreed to buy Arcellx for $115 a share plus a $5 contingent payment, causing Arcellx to surge about 77%.
- Carol Massar noted the deal values the cancer biotech near $7.8 billion and almost doubles Friday's closing price.