Morning Brief: $64 billion in deals to start the week

Monday, April 30, 2018

What to watch today

After a hectic week that saw Amazon (AMZN), Facebook (FB), and Alphabet (GOOGL, GOOG) all report earnings, the week ahead will continue the abundance of headline earnings reports and blockbuster economic data. The busy week of earnings will be punctuated by results from Apple (AAPL) after the market close on Tuesday. Other notable companies reporting earnings this week include Tesla (TSLA), McDonald’s (MCD), Merck (MRK), Pfizer (PFE), Snap (SNAP), Under Armour (UAA), Mastercard (MA), Metlife (MET), Square (SQ), Yum Brands (YUM), and CBS (CBS), as well as the first quarterly report for Spotify (SPOT) since the company’s direct listing in early April.

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Top news

Smartphones with Sprint logo are seen in front of a screen projection of T-mobile logo, in this picture illustration taken April 30, 2018. REUTERS/Dado Ruvic/Illustration
Smartphones with Sprint logo are seen in front of a screen projection of T-mobile logo, in this picture illustration taken April 30, 2018. REUTERS/Dado Ruvic/Illustration

T-Mobile, Sprint say $26 billion deal would give U.S. tech lead over China: T-Mobile US Inc (TMUS) and Sprint Corp (S) said on Sunday they had agreed to a $26 billion all-stock deal and believed they could win over skeptical regulators because the merger would create thousands of jobs and help the United States beat China to creating the next generation mobile network. [Reuters]

Marathon Petroleum to buy Andeavor for more than $20 billion: The cash-and-stock deal, which values pipeline and refining company Andeavor (ANDV) at about $150 a share, is expected to be announced Monday. That would be a roughly 23% premium over Andeavor’s closing price Friday after the stock surged about 50% in the past year. [WSJ]

Sainsbury’s to buy Asda from Walmart for $10.1 billionSainsbury’s has agreed to buy Walmart Inc.’s (WMT) U.K. unit, Asda, for 7.3 billion pounds ($10.1 billion) in cash and stock in a deal that would create Britain’s largest supermarket chain and marks a seismic shift in the country’s grocery market. [AP]

Logistics leader Prologis to acquire DCT Industrial for $8.4 billion: The acquisition will deepen Prologis’ (PLD) presence in high-growth markets including Southern California, the San Francisco Bay Area, New York, New Jersey, Seattle and South Florida, the companies said in a statement. [Reuters]

‘Infinity War’ opens with record $250M, passing ‘Star Wars’“Infinity War,” which brings together some two dozen superheroes in the 10-year culmination of Marvel Studio’s “cinematic universe,” also set a new global opening record with $630 million even though it’s yet to open in China, the world’s second-largest movie market. It opens there May 11. [AP]

For more of the latest news, go to Yahoo Finance

Members of a caravan of migrants from Central America climb up the border fence between Mexico and the U.S., as a part of a demonstration prior to preparations for an asylum request in the U.S., in Tijuana, Mexico, April 29, 2018. REUTERS/Edgard Garrido
Members of a caravan of migrants from Central America climb up the border fence between Mexico and the U.S., as a part of a demonstration prior to preparations for an asylum request in the U.S., in Tijuana, Mexico, April 29, 2018. REUTERS/Edgard Garrido

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The Morning Brief provides a quick rundown on what to watch in the markets, top news stories, and the best of Yahoo Finance Originals.

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