airlines it was just announced that jetblue is attempting to purchase spirit airlines yeah, this could mean a lot of changes to the way we fly. so, let's take a look at the pros and cons of jetblue buying spirit airlines. here we go pro, jetblue is offering to buy spirit airlines for $33 a share. con, spirit is like, "heck, you can take the whole plane for $25. [ laughter and applause pro, jetblue promises to bring all new features to spirit airplanes. con, like pilots [ laughter ] you're going to want those [ applause ] pro, now the two airlines can join forces and get back to doing what they do best. con, inventing new ways to charge for luggage [ laughter and applause "it's too small. it's too small you've got to pay $5 small luggage. [ laughter ] >> steve: "it's got a handle." >> jimmy: yeah oh, it's a wallet. yeah [ light laughter ] pro, jetblue is attempting the purchase through a hostile takeover con, a hostile takeover is how spirit describes their boarding process. [ laughter and applause "i have baltic i have baltic! pro, jetblue wanted to sit down with spirit airlines and ma

they would be willing to go up to $33 a share if spirit airlines management reengages with them. effectively, they are calling on shareholders now of spirit airlines to reject the proposed deal between spirit and frontier. you will remember, this was a three-way wannabe love story if you will. spirit has twice rejected jet blue offers in the past because it believes the d.o.j. would block the murder between spirit and jet blue and therefore they have opted instead to go with frontier but jet blue says no, we don't think that stacks up, we still think we have a better deal. so now, spirit investors are due to vote on the spirit/frontier deal on june 10th and jet blue has come out today saying don't do it, reject the deal and listen to what we have to say. >> we'll keep an eye on that and julianna tatelbaum, we will have more for you tomorrow. here on "way too early." cnbc's julianna tatelbaum live from london. >>> still ahead, we'll have more on the alarming rise in suspected hate crimes across the country. experts think that many of the cases have one common element. "way too ear

. >>> spirit airlines rejecting a massive cash buyout offer from lou. the reason coming up. >>> and along with the strong onshore flow keeping it easy, all of a sudden the clouds started to feel back in the bay. this from a storm that came close to bringing rain here but ame is douglas. i'm a writer/director and i'm still working. in the kind of work that i do, you are surrounded by people who are all younger than you. i had to get help somewhere along the line to stay competitive. i discovered prevagen. i started taking it and after a period of time, my memory improved. it was a game-changer for me. prevagen. healthier brain. better life. >>> a judge says that january 6 committee can get email marketing data from the republican national committee. investigators for the house select committee details on activity that led up to attempt to overturn the 2020 presidential election. that's nice really rejects the claim from rnc that the house does not have authorization to seek that data. >>> right now the cost of living continues to go up. and it is not jus

nevertheless spirit airlines up on the day just slightly weaker. keep an eye on the april 1 close of twitter right before elon musk disclosed that passive stake. stocks rallied. but now it's going to retrace all of its gains. those shares down in the premarket. tom: before the advent of financial media there was an understanding bonds were not just full faith and credit. the financial media only quotes full faith and credit, lisa has made a career of looking at credit. in the old days you what a blue book and you thumbed through it and looked at corporate bonds. and they said you can enjoy losing money in corporate bonds. how much are we losing now with the aggregate index down 10% plus. >> a couple of weeks ago we talked about how the high yield total returns were off to their worst start on record. i think the key risk for bond investors in our view is that's been entirely driven almost by the rate component. in the event that we do get a recession which is not our base case. but if we did get one there's more room for spreads to widen and exacer

airline and now the spirit airline ceo is ready to speak out and none other than phil christy >> thank you for joining you from the spirit headquarters in miramar, florida i know you can't go into details about the tender offer of $30 a share. you still need to go over it with the rest of the board from spirit, but what's your reaction of jet blue coming back and making another bid to buy spirit >>. >> thanks for having me on you're right we can't comment on the tender offer until the board has had time to review it, but what we can talk about is the prior proposal that we received from them at $33 a share and why the board determined that it was not a superior proposal to our current merger agreement with frontier, and it circles around the primary issue of whether or not that transaction could be consummated and we invested extensive time with jetblue and their regulatory advisers and financial advisers, reviewing the strategy and looking at ways that it might possibly be done and that it's not likely to be approved and it boils down to a couple of things and first and foremost, jetb

this morning, jetblue launched a hostile takeover bid for spirit airlines jetblue going directly to spirit airlines shareholders with a $30 share offer last month. you might remember jet blue had offered $33 a share. but spirits board rejected that spirits board has said it's more likely to avoid antitrust issues if it tries to merge with frontier airlines spirit is hosting a shareholder meeting on the proposed merger with frontier. june, 10th and netflix, making some big changes to keep and attract subscribers. it's reportedly looking to add live streaming to its platform. according to deadline, the service could be used for unscripted shows and stand up comedy specials. the option would also allow for live voting and shows like competitions and talent contest. netflix is also bringing back black mirror popular dystopian series and again, reportedly in an internal memo, netflix told employees if you don't like the content, you can quit. the average price of gas more than $6 a gallon in nearly every bay area county, the only bay area county that's still below $6 a gallon right now is solan

and spirit airlines has rejected the jetblue offer. ted christie will join us in a couple minutes to talk more about it >>> and as we go to break, another retailer whose bottom line was hit hard by cost. kohl's earning 11 cents a share. wall street had been looking for 70 cents that stock initially dipped on the news, but it has recovered those losses believe it or not it's up by about%. 1 probably worth taking a look at that stock "squawk box" will be right back. e for the right investments. they make me feel like i've got it all under control. [crowd cheers] voya. be confident to and through retirement. new projects means new project managers. you need to hire. i need indeed. indeed you do. when you sponsor a job, you immediately get your shortlist of quality candidates, whose resumes on indeed match your job criteria. visit indeed.com/hire and get started today. beep. beep. what up, barry? hey, chuck. aren't you supposed to be on the course? i was, but i need a new driver. oh. what kind? one that hits the ball better. okay... i gotc

mary: you would see spirit airlines disappear. this is what jetblue said they would redo all of the planes on the interior next here and airport facilities. it would all become jetblue. it would be no discount on jetblue, it would be all jetblue. it will be costly. you would have frontier left alone but would quickly be able to build up by of the spirit customers who no longer have an ultra is counter to go to. guy: thank you very much indeed. i want to talk you through some headlines out of the treasury select committee in westminster. governor bailey, andrew bailey, the governor of the bank of england currently being cross-examined. a lot be made of this in the u.k. he says the u.k. has suffered unprecedented sequence of shocks here he is testifying here we will get more and see exactly what he is going to say maybe on rates going forward. economic activity has been a surprise, this according to andrew bailey. we will continue to monitor what is happening and bring you the headlines from it. governor bailey struggling a little b

jetblue intensifying the takeover bid for spirit airlines after spirit rejected the initial offer. details ahead. >>> the biden administration sparring with one of the world's richest people jeff bezos taking issue with the tweet that linked inflation to corporate taxes. >>> plus, former fed chair ben bernancke will weigh in on how the fed handled the inflation crisis >> it was a mistake. they agree it was a mistake. >> more of that interview throughout the morning it is monday, may 16th, 2022 "squawk box" begins right now. >>> good morning welcome to "squawk box" here on cnbc live from the nasdaq market site in times square. i'm rebecca quick along with andrew ross sorkin and brian sullivan joe is off today >> good to be here >> i read through the beginning parts of this, andrew. you don't want to miss this. there are substantial things ben bernancke has to say you want to stick raaround >> thank you for that. he takes on all questions and provides clearances. >> very thoughtful maybe some more pointed comments than you anticipate. you have to stick around for

it's like paying to live on a spirit airlines flight, right? >> i would say jail cell, but close enough. >> yeah. >>> coming up, nobody puts baby in a corner. >> "dirty dancing" actress jennifer grey now out of the corner and spilling the beans. that's next. you're watching "world news now." ♪ never felt this way before ♪ ♪ >> announcer: "world news now" continues after this from our abc stations. . my name is wesley, and i'm with my knucklehead brother. my friend nafi. my boyfriend doug. i thought we'd be on the same page about this and we're not. how do i know the way i'm going to respond to it? there's not that long term research out there yet. i don't want to be on the front line. but you're human. you're going to make a mistake. i'm just saying everyone has a right to make their own decision. but why would you want to take that risk? can you imagine being the person that goes to somebody's house and gives them the virus that kills them? what if you end up in a hospital? yeah. that's what i'm scared of. if you were to die, man... that

out frontier airlines why does jetblue want spirit so bad? >> well, it's the key to its growth in the future, john and they believe their offers, we say offers because they twice have gone to the spirit board. they don't believe they've been fully heard. they're saying you know what we're going to illustrate to the shareholders a tender offer of $30 a share. and as you take a look at shares of of jetblue and spirit, with it's been positive for spirit, not so much for jetblue and they're encourage canning investors to vote no when it comes up june 10th i spoke to the ceo of jet blue earlier. he said we believe we have a superior bid and he says $30 a share, lack at that it's a premium a substantial premium. turned out tabe 60% where spirit shares are trading right now the deal is fully fine angsed and we see a path to $33 a share, contingent on spirit's board talking with them. the biggest complaint about why they don't think the deal would work, they think a higher cost airline, buying a lower cost airline would not get approval in washington

the deal because if frontier takes over spirit, you have this low-cost airline that remains. if jetblue takes over, you get the full cost airline getting bigger. >>> we learned mcdonald's is leaving russia for good. it will sell all of its stores. it temporarily closed 847 russian stores, but never reopened. mcdonald's says russia is no longer "consistent with mcdonald's values." >>> rare green arrows on wall street friday, but don't let them mislead you. the stock market saw losses for the sixth straight week. the s&p 500 is very close to its territory. when we look at the future, we see more red lights ahead. some startups in silicon valley are worried about money drying up, or at least slowing. this week on the podcast, and all he really talks to the investment arm about that worry. caroline of berkeley cited that . >> investors are looking at a possible market, shall we say slowdown? they are being a little bit more conservative with their outreach. these are things that startups are looking at right now. >> five sand hill road where you podcast including apple and google

this morning, jetblue has launched a hostile takeover bid for spirit airlines. jetblue is going directly to spirit airlines shareholders with a $30 share offer last month, jetblue had offered $33 a share. but spirits board rejected that. spirits board has said it's more likely to avoid antitrust issues if it tries to merge with frontier airlines spirit is hosting a shareholder meeting on that proposed merger with frontier on june 10th. and netflix is making some big changes to keep and attract subscribers. it's reportedly looking into adding live streaming to its platform. according to deadline, the service could be used for unscripted shows and stand up comedy specials. the option would also allow for live voting and shows like competitions and talent contests. netflix is also bringing back black mirror, which is a popular dystopian series supporters of san francisco's d a rallied over the weekend against the upcoming recall vote chaser. boudin's future as d a hinges on the outcome of an election that's now just three weeks away. recent polls show that bodine i

instead spirit is considering a much lower offer by frontier airlines. this is a reversal from spirit's stance last month. with more on today's "moneywatch" reporter, here's matt pieper. >> reporter: the dow added 84 points, the nasdaq jumped 201, the s&p 500 gained 23 points. tech stoxx led the way with nvidia and meta platforms each gaining more than 5%. earnings continue with starbucks handing over their quarterly report card. amazon has made two policy changes for its employees. the company will pay up to $4,000 to cover expenses for workers who need to travel at least 100 miles to receive medical treatments including elective abortions. the tech giant is also ending its covid-19 paid sick leave policy, telling employees they now have five days of paid time off instead. >>> spacex has competition in the rocket recycling business. the california-based rocket lab captured a falling rocket out of the air with a helicopter. the booster set 34 satellites into space before falling to earth, deploying a parachute before a cable dangling from the helicopter

he apologized for his mistake in the copilot has been transferred to captains job on spirit airlines. well done. topic number two. thirsty thursday. cinco de mayo. you got more reasons to drink and amber heard housekeeper. it turns out the british, they are way ahead, our survey shows one in ten people in the uk say piÑa colada's count as fruit. hear ye, hear you, well done. they think it counts as a sport. no, no, no. he believed the pros and drinks coconut flavor combined with coconut are daily serving of fruit. they also get their fill of meat from moscow mules and the looks of the teeth, it looks like airbrushing with it, too. the truth is, they been drinking heavily since they switched to long island iced tea. the palace has been known for beefeater's. i can't blame the brits. i want to be drunk, to. topic number three. a darker side of thursday thursday, sometimes when you overdo it, you can land in a trap. that's what happened to 26-year-old, a woman in maine when she drove drunk and made a wrong turn into a police station she literally turned herself in after crashing into th

more workers are calling out sick with the increasing covid rates, jetblue spirit airlines and alaska airlines say they also are cutting flights. well the warriors have to wait until sunday to see who they will face in the finals. jimmy butler willed miami to game seven later in sports. alright but first, the clouds were rolling in over san francisco tonight. this is what it looked like from our camera on sutro tower, just as like a sea of clouds can't even see the tops of the city skyscrapers. 11 o'clock news on ktvu. we'll be right for state controller, only yiu will save taxpayers money. wait, who, me? me? no, not you. yvonne yiu. yvonne yiu. not me. good choice. for 25 years, yiu worked as an executive at top financial firms. managed hundreds of audits. as mayor, she saved taxpayers over $55 million. finding waste. saving money. because... yiu is for you. yiu is for you. exactly. yvonne yiu. democrat for controller. the warriors had a chance to learn tonight who their opponent would be for the nba finals. but we still don't know and we will not know until sunday night. it is not m

. >> and let's turn to a story of spirit airlines. their board is currently urging shareds to reject the takeover bid citing regulatory hurdles. tell us about that. >> so we finally heard from spirit and to put this in context we talked monday about the jet blue hostile takeover bid for spirit and came out offering $30 a share for the airline and encouraged spirit airlines to vote against the proposed deal with frontier. a meeting june 10th. jet blue says spirit shareholders don't support this deal. you should support our takeover attempt. so what did spirit's board finally say? yesterday, they issued a statement saying it determined it is not in the best interest of spirit and the stockholders to go with jet blue's offer. spirit and jet blue proposals, offered a cynical attempt to disrupt spirit's merger with frontier which jet blue used as a competitive threat. and to your competition concern, spirit insists that regulators would not allow a jet blue/spirit deal to go ahead. jet blue, they say completely the contrary. jet blue says

maria: meanwhile, jetblue goes hostile tender officer for spirit airlines, spirit rejected first offer from jetblue in favor of mergeing with frontier, chairs up 14 1/2% on news we are on it "mornings with maria" is live right now. . meanwhile amazon jeff bezos creativitied over rising inflation bezos tweeted a response to biden's tweet, the administration, tried hard to inject more stimulus, into an already over heated inflationary economy, only manchin saved them from themselves, inflation is at a regressive tax that most hurts, misdirection doesn't help the country. writes jeff bezos called out administration disinformation board saying the disinformation board better review the president's recent tweet saying that taxing wealthy corporations would help lower record inflation. >> moody's analytic achieve commitment zandi, michael lee angela morabito, thanks for it can here what is your reaction to the back-and-forth between jeff bezos and white house. >> i am not sure to -- let me take a crack at criticism around american rescue plan, fligs i don't think behind high inflation experi

. >>> jetblue really wants spirit airlines. the company is going straight to shareholders with its offer to buy it in hopes of pushing the board of the florida airline to the negotiating table. jetblue is asking spirit to reject a proposed $2.9 billion acquisition by rival frontier. jetblue saying it offers value and certainty, claiming frontier would offer more risk and more overlap on nonstop routes. jetblue made its first offer to buy spirit for about $3.6 billion last month. >>> mcdonald's is pulling its iconic golden arches out of russia. they say the invasion of ukraine is not consistent with its mcdonald's empty into the soviet union 30 years ago was a symbolic show of the western influence. now it's willing to sell its restaurants to a local buyer. >>> uber is making sure baseball fans do not have to wait in long lines for peanuts and cracker jacks. they are working with a handful of parks including yankee stadium, dodger stadium and miute maid so fans can use uber eats to order their food and pick it up at a nearby con

. >>> wall street investors watching the bidding war for spirit airlines, jetblue says it will launch a hostile takeover bid for spirit. that move comes after the discount carrier declined its rival's previous offer. spirit shareholders were already set to vote on a merger deal with frontier airlines. >>> coming up, a taste of art without the museum admission. the concept behind these out-of-state corporations wrote an online sports betting plan they call "solutions for the homeless". really? the corporations take 90 percent of the profits. and using loopholes they wrote, they'd take even more. the corporations' own promotional costs, like free bets, taken from the homeless funds. and they'd get a refund on their $100 million license fee, taken from homeless funds, too. these guys didn't write a plan for the homeless. they wrote it for themselves. >>> it is a little movement with a big message in the east bay. little free art galleries are popping up in some oakland and berkeley neighborhoods. >> a woman in seattle started that movement, and it's grown all across the country. kpix 5's

. >>> plus, spirit airlines turns down a major merger. that's straight ahead on "way too early." my a1c stayed here, it needed to be here. ruby's a1c is down with rybelsus®. my a1c wasn't at goal, now i'm down with rybelsus®. mom's a1c is down with rybelsus®. (♪ ♪) in a clinical study, once-daily rybelsus® significantly lowered a1c better than a leading branded pill. rybelsus® isn't for people with type 1 diabetes. don't take rybelsus® if you or your family ever had medullary thyroid cancer, or have multiple endocrine neoplasia syndrome type 2, or if allergic to it. stop rybelsus® and get medical help right away if you get a lump or swelling in your neck, severe stomach pain, or an allergic reaction. serious side effects may include pancreatitis. tell your provider about vision problems or changes. taking rybelsus® with a sulfonylurea or insulin increases low blood sugar risk. side effects like nausea, vomiting, and diarrhea may lead to dehydration, which may worsen kidney problems. need to get your a1c down? (♪ ♪) ask your healthcare provider about rybelsus® tod

deal to happen now if you have spirit with jet blue, spirit's contention is that would create an airline that the biden administration would look at and say, what benefit is there to the consumer robin hayes, when i talked with him about this tender offer, he said, look, the jetblue effect is clear we believe that the doj believes us that there is a jetblue effect not entirely sure about that while they may have had some language about that, they are trying to unwind the northeast alliance between jetblue and american, but robin hayes believes that, and he believes that they can get this across the finish line. ted christie is of the opinion, it's going to be tough enough to make it happen with frontier, not impossible, wouldn't have agreed to the deal if they couldn't make it happen, but if you're going to have problems at least convincing this administration to put two low-cost carriers together, why would the administration say, okay, we're also going to be approving you getting together with jetblue which is a larger airline. >> you pointed out the comments from michael o'leary, we s

. >>> spirit airlines has turned down an offer to merge with jetblue but may still join forces with frontier. in february date agreed to a stock and cash deal valued at $25 for each share and in march jetblue made a more lucrative all-cash offer which was $33 but now the board said such a deal could run afoul of antitrust investigators the spirit is concentrating on the offer from frontier. >>> it is fashion's biggest night and it is in full swing as we speak. this is a live look at the met gala and we will take you there >>> a court victory for the kardashians and the family had been sued by black china and she had accuse members of the family making false statements against her that led to the cancellation of her show and the jury found in the kardashians favor and denied her claim for $100 million in damages. >>> fashion's biggest night is in new york city. the met gala returns back to its original date and here is a live look. this is the grand staircase outside of the metropolitan museum of art. this year's theme is called in america, and anthology of fashion and focuses on the gilded a

some business news, spirit airlines has rejected jet blue's offer to buy them and will merge with frontier airlines instead [ audience oohs that's crazy picking frontier over jet blue is like deciding to fly frontier over jet blue you know what i'm saying [ laughter ] imagine getting turned down by spirit airlines. [ laughter ] like getting a rejection letter from the university of phoenix [ laughter and applause get this i heard that in inflation is causing the cost of summer camp to drastically increase. yep, right now a lot of parents are looking at high prices like, "camp ipad it is here we go." and finally, this is cool. over the weekend at a track meet in philadelphia, a 100-year-old man ran the 100 meter dash it's exciting although when he started the race he was 98 [ laughter and applause sadly, he was disqualified after testing positive for every medication [ laughter and applause but what a moment, after he finished, his friends dumped a a cooler of ensure over his head it was a great moment. congratulations to him [ cheers and applause guys, this is exciting i'm about to bring o

. >>> jetblue a term ing a hostile takeover of spirit airlines spirit rejected the offer, i should say it decided to stick with a merge are plan with frontier airlines and it is calling on spirit shareholders to vote against the frontier merger. jetblue reports their offer is worth 60% more than the frontier deal. >>> and mcdonald's is closing its doors for good in russia the company behind the golden arches confirmed today it's selling all 850 restaurants in russia it paused operations there two months ago in response to the invasion of ukraine. as a result of the exit, 62,000 people will be out of a job and mcdonald's faces a hit of $1.2 billion mcdonald's first opened in moscow in 1990 it quickly became a symbol of the thawing old world tensions >>> on wall street, the dow up 27 and dow off 25% this year. >> some dramatic and significant twists just hours before voting begins in pennsylvania's senate primary. the democratic frontrunner, john fetterman sivered a stroke he's skipping his own election night party tomorrow so he can rest in the hospital according to the campaign. fetter

jetblue going hostile in its takeover bid from spirit airlines. spirit was looking into merging with frontier airlines, now jetj jetblue is appealing to shareholders with an all cash offer of 30 bucks per share and that is your money watch report this monday. guys? >> anne, thanks. it's a little movement with a big message in the east bay. little, free art galleries are popping up in oakland and berkeley neighbors. >> a woman? seattle started that neighborhood. justin andrews found one in oakland. and there when a well-known artist was contributing his own work. i love that concept. >> inside the tiny, wooden boxes there are some gems inside, the pint-sized paintings and small artwork, making a big impact. we talked to fernando san toes founder of beast oakland, a brand he created to show the pride, the positivity and the unity of oakland, a strong parallel to the idea behind these little art galleries. in front of one of the homes you'll find this little, black wooden box. and fernando santos dropping off some of his work to put inside it. >> i h

yes spirit airlines stock now down almost 10% over that merger news executives at spirit rejected jetblue's bid this morning. saying that they do not think it will get approval from antitrust regulators. spirit announced plans to go with the offer to merge with frontier airlines. instead jetblue's board plans to sweeten the deal to try to convince spirits board to go with jetblue as that opening bell rang this morning. nice recovery initially from those big losses during the month of april and friday in particular, however, we do get earnings reports that should direct stocks. fizer airbnb, starbucks and cvs said to report their results. and the numbers are now down in the last hour turned negative, with the dow jones now down almost a half of a percent. it was up by that amount in just about an hour ago. the s and p 500 also down almost a half of a percent and the nasdaq was up about 100 points now down slightly as well. starting in november. companies that advertise job listings in new york city will be required to post the maximum and minimum salary for position. supporters say salary tr

. >> speaking of let's call it airlines, boeing, you know, we'll talk about that bidding war for spirit airlines. jetblue does launch that hostile tender offer sounds exciting, doesn't it? probably won't be. let's give you another look at futures before we get started with trading 16 minutes from now. a lot more ahead for you on "squawk on the street. but all my employees need something different. oh, we can help with that. okay, imagine this. your mover, rob, he's on the scene and needs a plan with a mobile hotspot. we cut to downtown, your sales rep lisa has to send some files, like asap! so basically i can pick the right plan for each employee. yeah i should've just led with that. with at&t business. you can pick the best plan for each employee and get the best deals on every smart phone. this is xfinity rewards. you can pick the best plan for each employee our way of saying thanks, with rewards for the whole family! from epic trips... to jurassic-themed at-home activities. join over 3 million members and start enjoying rewards like these, and so much more in the xfinity app! and don

some dances going on, particularly for spirit airlines which has turned down jetblue, right? lauren simonetti is here following this and other business headlines. >> reporter: well, this is all maybe to prevent higher prices from hitting the airlines which is already seeing higher prices. spirit has said no to jetblue where's $3.6 billion offer to buy it. it's going to go with frontier. that offer is significantly less, 2.9 billion. the reason is spirit thinks government regulators won't approval -- approve the deal because you would eliminate an ultra-low cost carrier, if you will. but let's look at how investors feel because the might surprise you -- oh, actually, all the airlines are down now. the markets have been very chop choppy. spirit down almost 9%. the reason jetblue is not tanking is that investors might think they're going to go again for spirit airlines as they say they're, quote, going to consider all other options available. all right, let's go to the hertz shares, higher by 3% on pent-up desire to travel. lawyers now preparing 100 new hasn'ts on -- lawsuits on

spirit airlines board unanimously rejected -- enlisted a 3.6 billion dollar takeover on concerns the deal might not go through. they will stick with the lower frontier group and accepting the 3.9 billion dollar cash offer this year. the more jet blue stepped in last month. facebook is pulling out of plans to remove them altogether from the social media service. the company will stop letting people add to the service starting this week i will discontinue similar audio services. live audio rooms will be integrated into facebook live, many users could choose to go live with just audio, or audio and video. shery: don't miss our coverage from the conference, haidi is live from the event and will discuss the moves that explicit interviews. plus, the founder of pinnacle investment management joins us as well. australia daybreak asia is next. this is bloomberg. ♪ haidi: a very good morning. day one of the australian conference in sydney. shery: we are counting down to

. >> low cost carrier spirit airlines has rejected a buyout offer from jetblue spirit executive cited a low likelihood of regulatory approval as the reason the company reports it plans to stick with its merger with frontier airlines. that deal predates jetblue's offer and is sig competently lower. >> spirit stock down nearly 10% on the news. >> and netflix pulling the plug on meghan markle's animated series called pearl. the streaming giant canceling the series before it even aired, telling cnbc it's part of a strategic decision around all of their animated series. it comes two weeks after netflix reported disappointing first quarter results and its stock tanked in 2020, meghan markle and prince harry signs a multi-year deal to create content with netflix. >> on wall street, stocks continued their slide before staging a huge comeback. the dow finished up 84 s&p up 23. nasdaq up 201. >> i'm shepard smith on cnbc it's the bottom of the hour, time for the top of the news >> a now former police officer charged with murdering a 12-year-old boy. >> big oil under investigation accused of lyi

airlines. it was caught on camera, two anonymous bidders competed the a cell phone, the representatives covering their mouths because they are truly. it's broken records to make the most expensive piece of american art ever sold. hunter biden is now selling his portrait for $150 million, 45 million us holes because even he admits, it's not as good. those are fun. here's tonight to call me tuesday joke. guess the punchline on twitter hashtag to meet tuesday. why should you stand in the corner you get cold? ♪♪ allergies don't have to be scary. spraying flonase daily stops your body from overreacting to allergens all season long. psst! psst! flonase all good. psst! psst! flonase all good. living with metastatic breast cancer means being relentless. because every day matters. and having more of them is possible with verzenio. the only one of its kind proven to help you live significantly longer when taken with fulvestrant, regardless of menopause status. verzenio + fulvestrant is for hr+, her2-

energy stocks led gains with occidental petroleum up nearly 6%, nrg up more than 2%, spirit airlines up after jetblue offered to buy spirit for 30 bucks a share. and that energy stock rally, because oil prices are surging again, rising above 114 bucks a barrel, two month high almost with worries that it could go higher. covid rockefeller centers in ch -- lockdown in china have zapped energy. and easing the lockdowns could mean higher oil prices ahead. and they are hat rare at record. >>> a new hitch in emolon musk' purchase of twitter. he says he won't go forward until he understands how many accounts are fake. he accuses twitter of refusing to show proof that his estimate is right. and shares shipped 2.2% pre-market trading. and he made comments at a conference in miami that are getting a lot of attention. >>> starbucks is offering to cover travel expenses for workers seeking abortions that are not within 100 miles of their employees. a company executive says that regardless of what the supreme court ends up deciding, we will always ensure our partners have access to quality health

spirit airlines board of directors has rejected an acquisition bid from jetblue in favor of its existing agreement to be bought by front tier airlines. jetblue offered a lucrative deal of $3.6 billion, but there were concerns that antitrust regulations -- supports the less risky offer of $2.9 billion. it expects a deal with frontier to move forward in the second half of this year. advertisers know how many of your streaming shows and movies at home and they are shelling out even more money to get on your screen. a report put together by an industry group found that spending on connected tv drew for -- grew 57% last year, reaching more than $15 million. the report found advertisers are also missing some opportunities to reach streaming audiences. dan: let's move on, once an idol, always an idol. tonight the return to american honor for special show. your nokia has a sneak peek. -- george has a sneak peek. george: special reunion concert, they invited several past winners including 2003's ruben studdard and jordin sparks from 2007. they reflected on the biggest lessons they learned from be

julian: jetblue is sweetening its bid to merge with spirit airlines. they announced a new offer increasing the purchase price and making several other changes to the deal. spirit says it still thinks a proposal from frontier airlines is better. kumasi: a woman missing from mt. view has been found. she disappeared last night. officials have not released any other information about her condition. julian: new york archbishop cardinal timothy doland made a surprise visit to ukraine. he has been in the region meeting with humanitarian aid workers and refugees. lisa: winds will be increasing today getting quite gusty here along the coastal north bay after 45 miles an hour and it is a cooler afternoon. kumasi: this could be a dream for fans of the show "friends." this house in dayton, ohio has been designed to look just like monica's apartment, including the purple walls. it is for sale listed at $162,000. julian: hearing a home is for sale for that, living here in the bay area -- lisa: i thought it was the room. julian: [laughter] that is not the rent? kumas

airlines released this cocktail napkin: "spirit has never valued human life." ( laughter ) i the m.t.a. in new york city said it would keep its mask mandate in place. so if you are-- ( applause ) yeah, yeah, good for them. if you are riding the subway, remember, masks are mandatory. pants, still optional. the guy in the coroner is obeying the rules. the timing of this ruling, i have to say, is not the best. thanks to the ba.2 subvariant, nationally, cases are up by over 43%. with cases rising like this, i don't think we should get our health regulations from some federal judge. that's the job of the c.d.c. but you know who disagrees with me? the c.d.c. because they're sending out a new message on covid behaviors: it's your call. that's not how public safety works. you don't see signs at the pool that say, "shallow water. no diving. or go for it melanie!" public health officials are now leaving it up to people to assess if they need booster shots, whether to wear a mask, and how long to isolate after a positive test. no! no, no, no! don't leave it up to people. have you met people? ( la

jetblue has begun a hostile takeover attempt of spirit airlines. it launched an all cash tender offer and is urging shareholders to vote no on the airline's takeover by frontier airlines. the purchase is three dollars less than its initial bid. jetblue says it will pay the higher price if spirit agrees to a transaction. global news 24 hours a day, on air and on bloomberg quicktake, powered by more than 2700 journalists and analysts in more than 120 countries. i'm ritika gupta. this is bloomberg. ♪ at fidelity, your dedicated advisor will help you create a comprehensive wealth plan for your full financial picture. with the right balance of risk and reward. so you can enjoy more of...this. this is the planning effect. >> are big issue is how little tightening is priced for next year. 30, 40 basis, that is a joke. you think about the biggest inflation worry in the last 40 years, and how can the fed or other central banks really think they can get it under control in 12 months? i think that is incredibly implausible. so we expect a lot more tightenin

if frontier were to take over spirit, you have still got a big low-cost airline. if jetblue takes over, jetblue, a full cost airline, simply gets bigger. jr. of the news, moments ago we learned mcdonald's is leaving russia for good. it will sell all of its stores. it had temporarily closed it's 847 russian stores. now they would just never reopen. mcdonald's says russia is no longer "consistent with mcdonald's dahlias." >>> green arrows on wall street on friday. don't let this mislead you. the stock market is how losses for the week took a the sixth straight week took a the s&p 500 very close to bear territory. look at futures, we see more red arrows ahead cannot add. but, still red. some startups here in silicon valley also worrying about funding drying up or at least slowing. this weekend our podcast until road will talk to the director of tell berkeley's investment arm about that worry. --. >> investors are now looking at you, possible market, shall we say, to slow down. so, they are being a little bit more conservative, with their outreach. these are of course

spirit airlines says it will go ahead with its deal with rival discounter frontier despite an attempt by jetblue to enhance its own offer. jetblue says it would provide a $200 million reverse fee and would divest assets to meet the deal happen. spirit's board says the offer does not constitute a superior proposal. shares of videogame maker activision blizzard are rising today. berkshire hathaway raised its stake in a merger arbitrage bet. berkshire noun owns -- berkshire now owns 9% of the company's stock. the european union has hit apple with an antitrust suit over iphone payments. the complaint alleges apple abuses its dominance over mobile wallets via its apple pay service. the company could face hefty fines. apple says it's contactless pay system helps consumers. global news 24 hours a day, on air and on bloomberg quicktake, powered by more than 2700 journalists and analysts in more than 120 countries. i'm kailey leinz. this is bloomberg. ♪ >> let's say you want to be positive if there's going to be china stimulus. because what you wish for because if it is going to be a 2009 st

. >>> spirit airlines says all passengers and crew were safely evacuated after a plane skidded off the runway in china. more than 40 passengers were taken to hospital with nminor injuries. the cause of the accident is still under investigation. >>> "world sport" is up next for our viewers on cnn international. for those watching in north america, the price of everything just keeps going up. how the biden administration is dealing with the pain of inflation. our best deals on every iphone - including the iphone 13 pro o with 5g. that's the one with the amazing camera? yep! every business deseserves it... like one's that re-opened! hi, we have an appointntment. and every new business that just opened! like aromatherapy rugs! i'll take one in blue please! it's not complicated. at&t is giving new and existing business customers our best deals on every iphone. ♪ ♪ wealth is breaking ground on your biggest project yet. worth is giving the people who build it a solid foundation. wealth is shutting down the office for mike's retirement party. worth is giving the employee who spent half his

spirit airline has rejected jetblue's latest $3.3 billion takeover offer. that sets the stage for possibly a contentious vote by shareholders. their choice is either to back jetblue or standby a pending combination with rival deep discount frontier airlines. global news 24 hours a day, on air and on bloomberg quicktake, powered by more than 2700 journalists and analysts in more than 120 countries. i'm ritika gupta. this is bloomberg. ♪ ♪♪ this... is the planning effect. this is how it feels to know you have a wealth plan that covers everything that's important to you. this is what it's like to have a dedicated fidelity advisor looking at your full financial picture. making sure you have the right balance of risk and reward. and helping you plan for future generations. this is "the planning effect" from fidelity. another crazy day? and helping you plan for future generations. of course—you're a cio in 2022. but you're ready. because you've got the next generation in global secure networking from comcast business, with fully integrated security soluti

airlines is adding windows. [ laughter ] some entertainment news. i saw that christopher walken was just cast in "dune: part ii." >> steve: yeah >> jimmy: yeah [ applause ] he's playing the emperor alongside timothee chalamet and zendaya, who are coming back so i thought it would be fun to go around the studio and see who could do the best impression of christopher walken in "dune. all right, here. i'll go first. the spice must flow. [ applause ] higgins? higgins, let's hear your best "dune" christopher walken. >> steve: all right, ready >> jimmy: yeah ♪ >> steve: fear is the mind killer [ applause ] >> jimmy: oh that's actually -- that's actually better than i thought james, let's hear your walken. ♪ >> if you walk down river you'd sound a lot like my friend [ laughter ] smooth jeffery we've been friends since he was 30 years old and now he's 31 years old. he's a really bad dancer [ laughter ] but he makes me go to the clubs with him anyway. [ laughter ] he said he won't be my friend anymore if i don't and let's face it. i'm not exactly in a po

ashley: yeah, let's take a look at jetblue and spirit airlines. spirit rejecting jetblue's earlier takeover, but now jetblue may go hostile in this. >> definitely so this is interesting because the tender offer in this hostile bid is $30 a share that's what jetblue is offering to buy spirit airlines in cash. now, remember that spirit said no the first time and guess how much jetblue is offering them. they were offering more at $33 but i guess because of the sell-off that we're seeing in virtually everything in the stock market, including in airline stocks, so jetblue is saying well, actually, $30 might look good to shareholders, i mean, spirit and their executive board can say no but stockholder s, that might be pretty lucrative in their view, so this deal gets done it be the fifth largest air carrier in america, but don't forget you still have frontier out there, they already have this agreement with spirit, but i think it depends on the stakeholders and whether or not they say $30 is enough to get it through. ashley: exactly. interesting to foll

. >> shares of spirit airlines are down almost 10%. the carrier's board is rejecting jet blue's 3.6 billion cash bid, saying there's too much risk that revenues wouldn't approve the merger spirit wants to be acquired by frontier u.s. construction spending edged up by .1% in march that's less than february's 0.7% gain the institute for supply management says its index of national factory activity dropped from 54.4 to 57.1 in march economists were expecting that number would rise carl, back to you. >> kate, thanks so much. >>> as we've said this morning, april did mark the worst month for the nasdaq since 2008. came on the heels of last week's big tech earnings, as you know who's left standing and where might you start to look for value, joining us this morning, capital founding, managing partner, lowe tony is with us. >> thanks for having me. >> we've had some conversations in the last few weeks about relative strength in areas like software, and cyber, and cloud but given all the uncertainties, with the fed on the horizon this week, ar

jetblue and spirit airlines have already reduced their summer flight options partially because of a lack of pilots. airlines overall have seen a 4% drop in pilots since 2019 on top of a long struggle to hire pilots than 14,000 pilots would have to be hired every year for the next 10 years. to overcome that shortage. summer travel season is about to kick into high gear and ktvu tom vacar looks at the surprising numbers and what industry experts predict. the government said ticket prices in april alone jumped 18.6% 33% higher your over year. that whopping april increases, the largest seen since the government began issuing the report back in 1963. sky scanner is a 20 year old worldwide airlines search engine that watches prices literally by the nanosecond during the pandemic prices were artificially low. um as demand was low. what we're seeing is essentially everything normalized now back to pre pandemic this year, we have really seen demand return. a month a month. bookings are increasing. that's true for international flying, but less so for domestic travel, though consumers spent nearly

airlines. spirit air's ceo ted christi was here with us yesterday and expressed his concerns and frustrations >> the reason that we view the jetblue deal as problematic is the antithesis to the way we look at the frontier deal. these are two like-minded, low cost businesses that are looking to expand and drive more stimulation with lower fares this is not a discussion about capacity constraint and higher fares, which is what we're hearing out of the jetblue camp. >> all right, for more on this and the state of the airlines, let's bring in gordon bethune, former chairman and ceo of continental airlines and a cnbc contributor and jamie baker, senior airline analyst at jpmorgan mr. bebethune, welcome to both you, let me begin with you, what do you see happening in the airline business obviously there's a bounceback from the pandemic, but now there are rising jet fuel prices there's war in europe. there are still labor shortages, and now we have a hostile bid on the table for frontier what is the s