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 Apple's valuation roller coaster to Uber's big discount, here are four charts that tell you what you need to know in business today.

Ride It Out
Companies are starting to back away from Excel, and it's time for Microsoft to stop being so complacent about it.
Source: Bloomberg
Note: For fiscal years ended June 30.
Take It or Leave It
Roark's bid may look low compared to past share-price heights at Buffalo Wild Wings. But the Arby's owner's bid may be the best the chain can hope for.
Source: Bloomberg
Note: Analysts price targets are as of Nov. 13, the day before Roark's interest was reported.
Wax and Wane
Apple's valuation tends to peak right around the time it releases a significant iPhone upgrade. After that, look out below.
Source: Bloomberg
Baking In More Than Just Bad News
A big discounted stake in scandal-ridden Uber offers both promise and peril for SoftBank.
Source: Bloomberg News

And don't miss Chris Hughes on Shell's efforts at atonement: "If the oil price sinks, it's capital investment that gets cut back. Heads, shareholders win; tails, investment loses. Shell's investor-friendly moves are partly about atoning for the past and undoing the dilution inflicted by share issuance for the dividend and the purchase of BG Group in 2016. Meanwhile, Shell claims an industry first in its carbon commitments. If only it could rush to shift to renewables as quickly as it's dashing to please its owners."

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