Courtesy of T-Mobile

T-Mobile had a strong first quarter: It added 1.1 million total subscribers (including 914,000 total postpaid subscribers) and also locked down a large swatch of wireless spectrum at an FCC auction that will boost its network across the country.

T-Mobile CEO John Legere took a shot at rival Verizon, which lost 300,000 subscribers in the first quarter, even after announcing it's unlimited calling plan. "That's gotta be embarrassing after all that mic-dropping...We forced everyone to follow our move to unlimited," Legere said on the company's earnings call.

The big question: Will T-Mobile resume merger talks with Sprint — or perhaps another partner — now that the spectrum auction is over?

What to watch: The auction quiet period that prevented companies from talking about potential deals lifts Thursday. Legere said T-Mobile is "interested in looking at some of the possibilities."

Go deeper

"Hamilton" is a streaming hit for Disney+

Data: Google Trends; Chart: Andrew Witherspoon/Axios

The debut of "Hamilton" on Disney+ last Friday sent downloads of the app soaring over the weekend.

Why it matters: With theaters closed until 2021, "Hamilton" is the biggest litmus test for whether Broadway will ever be able to successfully transition some of its iconic hits.

Wall Street is no longer betting on Trump

Illustration: Sarah Grillo/Axios

Betting markets have turned decisively toward an expected victory for Joe Biden in November — and asset managers at major investment banks are preparing for not only a Biden win, but potentially a Democratic sweep of the Senate and House too.

Why it matters: Wall Street had its chips on a Trump win until recently — even in the midst of the coronavirus-induced recession and Biden's rise in the polls.

With new security law, China outlaws global activism

Illustration: Eniola Odetunde/Axios

The draconian security law that Beijing forced upon Hong Kong last week contains an article making it illegal for anyone in the world to promote democratic reform for Hong Kong.

Why it matters: China has long sought to crush organized dissent abroad through quiet threats and coercion. Now it has codified that practice into law — potentially forcing people and companies around the world to choose between speaking freely and ever stepping foot in Hong Kong again.