Peretz Partensky via Flickr CC

Toshiba Corp. last week took a $6.3 write-down related to four U.S. nuclear reactors operated by subsidiary Westinghouse Electric, per Bloomberg. Cost overruns and missed deadlines on the reactors ― located in Georgia and South Carolina ― have effectively cost the Japanese parent company more than it originally paid to buy Westingthouse in 2006.

Why it matters: This means the end of new nuclear construction in the U.S., at least for the foreseeable future.

Westinghouse in 2008 became the first U.S. company to receive building permits for new nuclear power plants since the Three Mile Island accident, but the project failed and was mired in lawsuits. Now, Toshiba seems highly unlikely to move forward with new construction. Plus cheaper natural gas has reduced the need to invest in risky and expensive nuclear reactors.

Toshiba is in trouble, too: Due to the size of its failed investment, Toshiba may sell Westinghouse and also is likely to sell a large stake in its flash-memory business. Toshiba Chairman Shigenori Shiga has already resigned.

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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.