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Asos billionaire's children killed in Sri Lanka attacks: Morning Brief


Monday, April 22, 2019

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WHAT TO WATCH

A deluge of corporate earnings reports and U.S. GDP data will take center stage this week.

Earnings season kicks into high gear as heavyweights from every sector gear up to report first quarter financial results. So far, nearly 20% of the S&P 500 companies have reported their results. On Monday, Halliburton (HAL), Kimberly-Clark (KMB), Steel Dynamics (STLD) will report earnings before the market open, while Whirlpool (WHR) reports after market close.

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TOP NEWS

Sri Lankan military officers conduct inspections inside the St. Sebastians church where a bomb blast took place in the town of Negombo, 30kms off capital city, Colombo, Sri Lanka, on April 22, 2019. - The death toll from bomb blasts that ripped through churches and luxury hotels in Sri Lanka rose dramatically April 22 to 290 -- including dozens of foreigners -- as police announced new arrests over the country's worst attacks for more than a decade.(Photo by Tharaka Basnayaka/NurPhoto via Getty Images)

Asos billionaire's children killed in Sri Lanka attacks: Three children of Asos’ (ASC.L) biggest shareholder have died in the bomb attacks in Sri Lanka. A spokesman for Anders Holch Povlsen, a Danish billionaire and Scotland’s largest private landowner, told multiple news outlets the siblings were among the 290 people known to have died in a string of explosions. [Yahoo Finance UK]

U.S. prepares to end Iran oil waivers: The United States is expected to announce on Monday that buyers of Iranian oil need to end imports soon or face sanctions, a source familiar with the situation told Reuters, triggering a 3% jump in crude prices to their highest for 2019 so far. [Reuters]

Huawei Q1 revenue grows 39% amid heightened U.S. pressure: Huawei Technologies said on Monday its first-quarter revenue jumped 39% to $26.81 billion, in the Chinese technology firm's first-ever quarterly results. The world's biggest telecoms equipment maker also said its net profit margin was around 8% for the quarter, which it added was slightly higher than the same period last year. [Reuters]

Musk takes on Panasonic in rare public battle: Elon Musk has engaged in Twitter spats with a long line of folks. But now he is in a rare public dispute with a critical supplier: Panasonic Corp., the company that makes all of the lithium-ion battery cells that power Tesla Inc.’s (TSLA) electric vehicles. Even by Musk’s standards, it’s highly unusual for a company and its largest supplier to duel so openly. [Bloomberg]

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