Spirit Makes Plans to Shutter After Government Rescue Fizzles

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- Sid Philip, Bloomberg Chief Correspondent for Global Aviation, discusses Spirit Aviation Holdings laying the groundwork to shutter its operations as it runs low on cash. Spirit, buffeted by the recent surge in fuel costs, had been in talks with the US government on a rescue financing, but those conversations hit an impasse in recent days, Bloomberg previously reported. 

-Gene Munster, Managing Partner at Deepwater Asset Management, discusses big tech earnings. Apple Inc. delivered a strong revenue forecast for the third quarter, with sales expected to rise 14% to 17% in the period. The company warned that memory-chip costs will increase and that shortages of Mac computers will persist for “several months.”

- Vincent Piazza, Bloomberg Intelligence Senior Equity Research Analyst, Oil & Gas, discusses Chevron and Exxon earnings. Exxon Mobil Corp. and Chevron Corp. posted stronger-than-expected earnings for the first quarter due to higher oil and natural gas prices.

-Deborah Aitken, Bloomberg Intelligence Luxury Goods Analyst, discusses Estee Lauder earnings. Estée Lauder Cos. plans to cut as many as 3,000 more jobs and generate a further $200 million of savings to help boost its turnaround plan.

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