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 U.K. rate-hike ambiguity to TIAA's reputation gap, here are four charts that tell you what you need to know in business today.

By the Pieces
Emerson Electric should consider breaking up rather than taking another futile tilt at a Rockwell Automation deal.
Source: Bloomberg
Allergan's had a bad year, and 2018 may be worse. But that's not sufficient justification to split the company in twain.
Source: Bloomberg/Allergan
Allergan provided a "framework" for 2018 earnings. If Restasis generics enter 1/18, potential non-GAAP performance net in come per-share is greater than/equal to $15. If it's 7/18, it's greater than/equal to $16.
Worse Off
Even with rising inflation, growth and Brexit worries make a U.K. rate hike risky.
Source: Office for National Statistics
Stuck in the Middle
TIAA has an excellent reputation. But is it deserved? The mutual fund company charges higher fees than Vanguard, and its funds have delivered lower returns than Fidelity's.
Sources: Morningstar, author's calculations

And don't miss Liam Denning on Anadarko's portentous earnings call: "Growth, said CEO Al Walker, is an output of Anadarko's capital-planning process, not an input. And the board intends to meet later this month -- earlier than usual -- to discuss next year's budget and likely changes to an executive compensation plan that, like so many others in the industry, has been criticized for encouraging expansion over efficiency. As an antidote to creeping activism in the E&P sector, it's powerful stuff."

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

To contact the editor responsible for this story:
Mark Gongloff at