Steven Senne / AP

Three Republican governors sent a letter to Senate leadership Friday detailing their critiques against the proposed cuts to Medicaid in the House health bill, the WSJ reports. They urge Congress to instead focus on calming down the private insurance market.

Context: The House bill's savings are mostly rooted in Medicaid cuts, which are causing the bulk of coverage losses as well. The Senate is taking a similar tack in developing its bill.

Who signed off: John Kasich (OH), Brian Sandoval (NV), Charlie Baker (MA). Four Dems also signed on, including Steve Bullock (MT), John Hickenlooper (CO), John Bel Edwards (LA), Tom Wolf (PA).

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BodyArmor takes aim at Gatorade's sports drink dominance

Illustration: Eniola Odetunde/Axios

BodyArmor is making noise in the sports drink market, announcing seven new athlete partnerships last week, including Christian McCaffrey, Sabrina Ionescu and Ronald Acuña Jr.

Why it matters: It wants to market itself as a worthy challenger to the throne that Gatorade has occupied for nearly six decades.

S&P 500's historic rebound leaves investors divided on future

Data: Money.net; Chart: Axios Visuals

The S&P 500 nearly closed at an all-time high on Wednesday and remains poised to go from peak to trough to peak in less than half a year.

By the numbers: Since hitting its low on March 23, the S&P has risen about 50%, with more than 40 of its members doubling, according to Bloomberg. The $12 trillion dollars of share value that vanished in late March has almost completely returned.

Newsrooms abandoned as pandemic drags on

Illustration: Sarah Grillo/Axios

Facing enormous financial pressure and uncertainty around reopenings, media companies are giving up on their years-long building leases for more permanent work-from-home structures. Others are letting employees work remotely for the foreseeable future.

Why it matters: Real estate is often the most expensive asset that media companies own. And for companies that don't own their space, it's often the biggest expense.