Tesla earnings, the future of Spirit Airlines, WBD shareholder vote and more in Morning Squawk

Good morning! Here’s your essential update to kick off the trading day. As we move through the week, notable shifts in CEO positions have emerged from companies including Lululemon and LinkedIn, signaling a period of change. This morning, stock futures are dipping after a positive session for major indexes. Notably, the S&P 500 and Nasdaq Composite reached record highs yesterday, buoyed by President Donald Trump's decision to extend the U.S. ceasefire with Iran, alleviating some concerns about rising oil prices in the critical Strait of Hormuz. Tesla has released its first-quarter earnings, which exceeded expectations, although revenue figures fell short of analysts' forecasts. The electric vehicle manufacturer anticipates higher spending than initially projected, resulting in a pre-market share drop of over 3%. In a bid to remain competitive against lower-priced alternatives, Tesla announced plans for more affordable versions of its Model Y SUV and Model 3 sedans. CEO Elon Musk also revealed that older models equipped with Hardware 3 will not support the new 'unsupervised' full self-driving technology. Meanwhile, the Federal Reserve is in the spotlight as Kevin Warsh suggested using 'trimmed averages' for measuring inflation instead of the core personal consumption expenditures index. Bank of America has warned that such a method could lead to misleading inflation readings, potentially resulting in a higher growth rate than expected. In corporate news, Warner Bros. Discovery shareholders are set to vote on the proposed acquisition by Paramount Skydance. This development comes after a complex takeover scenario, with Paramount's offer of $31 per share surpassing bids from Netflix and Comcast. Notably, a key proxy advisory firm has endorsed the acquisition but withheld support for a lucrative payout for WBD CEO David Zaslav included in the proposal. On the aviation front, the White House is reportedly negotiating a $500 million financing package aimed at rescuing Spirit Airlines, which is facing a second bankruptcy within a year. The deal could lead to government equity in the struggling airline, which has been hindered by rising fuel costs and an engine recall. Boeing's CEO, Kelly Ortberg, confirmed that production is ramping up for the 737 Max aircraft, a move that could help mitigate the company’s financial losses. Stay informed with the latest updates each morning as the market opens!