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Twitter helps stocks fly to a record high, Netflix returns to the junk bond market and Islamic State claims responsibility for the deadly attacks in Sri Lanka. Here are some of this morning’s key stories.
U.S. Stocks Rally to Record on Earnings Surprises
The S&P 500 and Nasdaq reached new milestones as Twitter, Lockheed Martin and Hasbro climbed following favorable first-quarter reports, adding to a rally led by the biggest technology companies. Crude also extended its climb as the U.S. tightened the screws on Iran. Saudi Arabia is ready to boost output, but wants to first see a drop in Iranian shipments, people familiar said.
Islamic State Says It’s Behind Sri Lanka Attacks
Islamic State claimed responsibility for the deadly blasts in Sri Lanka. While only local citizens had been detained, the government has suspicions of an IS connection, PM Ranil Wickremesinghe said. The country’s former defense secretary, Gotabhaya Rajapaksa, slammed the government for neglecting national security issues ahead of the suicide bombings.
Netflix Returns to the Junk Bond Market
Netflix will sell $2 billion worth of junk bonds to ratchet up content creation as more media giants join the streaming ranks. The two-part offering will be split between euros and dollars and are expected to price Wednesday. These could be the last Netflix notes for a while, as CEO Reed Hastings said earlier this month that the company won’t be borrowing forever.
SoftBank Mulls Wirecard Investment
SoftBank is considering an investment in Wirecard that could give it a 5 percent stake in the beleaguered German online payment firm. A cash injection by SoftBank could help shore up investor confidence at Wirecard after allegations of accounting wrongdoing at the company’s Singapore operations.
Macron Vows Vigilance on Ghosn Treatment
Emmanuel Macron said France would remain “very vigilant” on Carlos Ghosn’s treatment in a Japanese jail. The French president’s remarks came on the heels of a new plea by the former Nissan chairman’s wife who has denounced his prison conditions. “What is happening in Tokyo to my husband worries me,” Carole Ghosn said in an emailed statement.
What we’ve been reading:
This is what caught our eye over the last 24 hours.
- Warren Buffett declares most newspapers ‘toast’ after ad decline.
- The biggest phase of voting begins in India's election.
- Cathay Pacific is cracking down on thieving flight attendants.
- A Hong Kong property tycoon gave away his children’s inheritance.
- Why a billionaire sold his son a $7.2 million Singapore apartment.
- Google spinoff’s drone delivery business get FAA approval.
- Thailand's richest family is getting richer helping China.
©2019 Bloomberg L.P.