A barrage of earnings reports arrives this week. The Q1 earnings season so far has seen a record 87% of S&P 500 companies top estimates and earnings growth on average of 46%. Economic reports to watch include updates on ISM manufacturing, construction spending, factory spending and a the March jobs report at the end of the week. On the corporate calendar there are key events for Merck, Dell Technologies, CarMax, and Union Pacific. 

The Honest Company is looking to raise as much as $439M in an IPO next week that could give co-founder Jessica Alba a stake valued at about $96M. Honest Company sells baby products, cleaning supplies and cosmetics. The company plans to sell 6.5M shares and existing shareholders will sell 19.4M shares in an expected range of $14 to $17. At the top end of the range, Honest would have a market value of $1.54Bn.

Verizon is exploring a sale of assets including Yahoo and AOL, as the telecommunications giant looks to exit an expensive and unsuccessful bet on digital media.  The sales process, which includes private-equity firm Apollo, could lead to a deal worth $4 billion to $5 billion, a loss of about 50% based on the initial purchase price.