Max Nisen is a Bloomberg Gadfly columnist covering biotech, pharma and health care. He previously wrote about management and corporate strategy for Quartz and Business Insider.

Good morning! This is Fly Charts, the daily charts-only newsletter from Gadfly; sign up here. From cellular antitrust to Iraqi oil interference, here are four charts that tell you what you need to know in business today.

Hold The Applause
Investors aren't confident a Sprint/T-Mobile merger will pass regulatory muster. But they shouldn't give up hope yet.
Source: Bloomberg
Fun with Numbers
Having the industry's biggest gap between GAAP and adjusted earnings isn't a good look for GE. It's time for new leadership to fix things.
Source: JPMorgan analyst Steve Tusa
Wait and See
The reluctance of banks to finance a Nordstrom buyout is a rare outbreak of caution in a fizzy debt market.
Source: Bloomberg
History Rhymes
Upheaval in Iraq is roiling oil prices once again. But the market looks just a bit different than it did in 2014.
Source: Bloomberg

And don't miss Andrea Felsted and Sarah Halzack on European discounters' American invasion:  "U.S. retailers shouldn’t be lulled into a false sense of security. Look, for example, at what happened when these grocers set their sights on the U.K. It took 20 years for Aldi and Lidl's sales to take off in that market after their arrival there. When they did, it was partly because the big British supermarkets, led by Tesco Plc, became less price-competitive. But the no-frills German supermarkets also adjusted their offerings to better suit U.K. tastes, introducing up-market fare and more fresh food. Lidl is already applying the lessons it has learned to the U.S. -- offering in-store bakeries, for example -- and will likely evolve further."

This column does not necessarily reflect the opinion of Bloomberg LP and its owners.

To contact the author of this story:
Max Nisen in New York at mnisen@bloomberg.net

To contact the editor responsible for this story:
Mark Gongloff at mgongloff1@bloomberg.net