IAC chairman Barry Diller talks to the press. Photo: AJ Vandermeyden / AP

Media mogul Barry Diller said Monday at a conference held by the Internet Association that he hopes the Justice Department challenges AT&T's proposed Time Warner purchase in court, so that it might dissuade the government from fighting such deals in the future. But he also said he ultimately expects the $85 billion deal to be approved, potentially with minor conditions.

"It's almost impossible that I could see, on a legal basis, for them to lose."

The bigger picture: The Justice Department is pushing AT&T to sell some key assets — like the Turner unit that contains CNN or DirecTV — in order to get the deal approved, but it looks like AT&T isn't interested in doing either. Here's why this situation is complicated.

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Uber to buy Postmates in $2.65 billion deal

Illustration: Sarah Grillo/Axios

Uber has agreed to acquire food delivery company Postmates for $2.65 billion in an all-stock deal, the companies announced Monday.

Why it matters: This is the latest merger for the food delivery space as the sector undergoes an ongoing market consolidation.

Analysts expect soaring stock market despite slashed earnings forecasts

Data: FactSet; Chart: Axios Visuals

Despite cutting expectations for companies' earnings by the most in history and revenue by the most since 2009, Wall Street analysts are getting increasingly bullish on the overall direction of the U.S. stock market.

What's happening: Equity analysts are expecting earnings in the second quarter to fall by 43.8% — the most since 2008's fourth quarter 69.1% decline.

Case growth outpacing testing in coronavirus hotspots

Data: The COVID Tracking Project. Note: Vermont and Hawaii were not included because they have fewer than 20 cases per day. Chart: Andrew Witherspoon/Axios

The United States' alarming rise in coronavirus cases isn't due to increased testing — particularly not where cases have grown fastest over the last month.

Why it matters: The U.S. doesn't yet know what it looks like when a pandemic rages on relatively unchecked after the health system has become overwhelmed. It may be about to find out.