Business
Microcap stocks steal show in April, outpace, Nifty, smallcap, midcaps, largecaps. What’s driving the surge?
Indian equities posted a strong performance in April 2026, with returns accelerating sharply as one moved down the market-cap curve. The Nifty 50 rose 5.8%, while the Nifty 100 advanced 7%. The real outperformance, however, came from the broader markets. The Nifty Midcap 150 climbed 10.7% and the Nifty Smallcap 250 surged 13.4% to 16,731. Leading the rally was the Nifty Microcap 250, which jumped 16.2%.
What makes this performance particularly striking is the backdrop against which it unfolded.
Macro concerns remained firmly in place. Geopolitical tensions, inflationary pressures, currency weakness, and elevated commodity prices continued to dominate the narrative. Foreign institutional investors have been persistent sellers, with cumulative outflows of approximately Rs 1.75 lakh crore in CY26 so far, including nearly Rs 44,000 crore in April alone. Meanwhile, the rupee has remained under pressure, slipping to record lows near 95 per US dollar, weighed down by rising oil prices and sustained capital outflows.
Geopolitical risks have further intensified with the ongoing Iran conflict, pushing crude prices higher. Brent crude has moved into the $110–125 per barrel range, with occasional spikes beyond that. This has created second-order pressures through higher input costs, stress on trade balances, and risks to energy availability, including potential gas supply constraints.
Yet, despite this challenging environment, business fundamentals across market segments have remained broadly stable.
What’s behind the rally?
Core operating metrics have remained largely unchanged across segments, indicating stability rather than acceleration. Return ratios reflect this trend, with large caps sustaining RoE at around 16.9% and midcaps at approximately 11.3%. Balance sheets also remain steady. Net debt-to-equity ratios have seen little movement—large caps at about 52.5% and midcaps at 22.5%, while small and micro caps have recorded only marginal reductions. Within the smaller segments, nano caps have improved slightly from 49.85% to 48.5%, whereas pico caps have edged up from 37.8% to 38.3%, OmniScience Capital said in a note.
Forward growth expectations remain unchanged across cohorts, suggesting there have been no meaningful revisions to the earnings outlook. In essence, the data indicates that the fundamental position of companies has remained intact, with no significant shift in operating performance during this period.
This creates a clear contrast: while fundamentals have stayed stable, market prices have moved higher. The recent rally, therefore, is not supported by a corresponding change in underlying business metrics, the report added.
April’s performance highlights that market movements do not always align directly with macro conditions or incremental changes in fundamentals. Despite a backdrop that remained largely unchanged, returns across segments were strong.
The key takeaway is that there has been no material change in business performance to explain the sharp price movement. Over time, equity returns are driven by underlying fundamentals, while shorter-term price moves can occur independently of them.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
Business
(VIDEO) Kim Kardashian Goes Full Camp in Extreme Custom Mugler Corset for Met Gala in KUWTK Clip
NEW YORK — Kim Kardashian pushed boundaries with a dramatic custom Mugler corset for the Met Gala’s camp-themed event, as captured in a new “Keeping Up with the Kardashians” clip that offers fans an inside look at the intense preparations. The reality star and business mogul underwent extreme fittings to achieve a snatched silhouette, highlighting the theatricality demanded by the night’s dress code while juggling a chaotic schedule that included a last-minute music video request from Paris Hilton.
The episode shows Kardashian, 45, working with legendary corset maker Mr. Pearl to create a look that accentuates her figure to the extreme. “It’s the weirdest feeling,” she described during the process, noting the corset’s restrictive nature that made basic movements challenging. The ensemble embodied camp — theatrical, exaggerated and fun — aligning perfectly with the Met Gala theme that celebrates over-the-top expression.
Kardashian’s sisters Kendall and Kylie Jenner opted for Versace designs by Donatella, adding to the family’s coordinated glamour. Kris Jenner, Khloé and Kourtney Kardashian also appeared in preparations, offering support and humorous commentary as the clan navigated fittings and styling decisions. The clip underscores the pressure and excitement surrounding one of fashion’s biggest nights.
Behind the Scenes of Met Gala Prep
The “KUWTK” segment reveals the logistical challenges of Met Gala readiness. Kardashian’s team coordinated multiple elements, from the corset construction to overall styling inspired by icons like David Bowie, Liberace and Studio 54. The process involved hours of lacing and adjustments, with the star emphasizing the importance of committing fully to the theme.
Paris Hilton’s surprise request for Kardashian to appear in her music video added another layer of chaos. Despite the tight timeline before the Met, Kardashian agreed, citing their long friendship and shared history of wild nights out. The moment highlighted Kardashian’s loyalty and willingness to support close friends amid her own demanding commitments.
Family dynamics shone through as sisters teased each other and offered fashion advice. Khloé’s quip about avoiding a “fupa” with the corset drew laughs, illustrating the blend of humor and high fashion that defines the show.
Camp Theme and Fashion Significance
The Met Gala’s camp theme encouraged bold, theatrical interpretations. Kardashian’s Mugler choice paid homage to the designer’s archival glamour while pushing contemporary boundaries. Mr. Pearl’s corsetry expertise created a silhouette that sparked immediate online discussion and set trends for the season.
Fashion observers praised the commitment to camp, noting how it allowed celebrities to embrace fun and exaggeration. The Kardashian-Jenner family’s coordinated yet individual looks reinforced their influence in pop culture and haute couture.
The clip’s release generated significant buzz, with fans dissecting every detail from hair and makeup to accessory choices. Social media filled with reactions praising Kardashian’s dedication and speculating on the final red carpet appearance.
Kardashian’s Evolving Public Image
This Met Gala moment fits Kardashian’s trajectory from reality star to fashion and business powerhouse. Her SKIMS empire and multiple brand collaborations demonstrate savvy entrepreneurship, while “KUWTK” maintains her connection to original fans.
The clip humanizes the preparations, showing vulnerability amid the glamour. Kardashian’s willingness to share the uncomfortable aspects of extreme styling resonates with audiences who appreciate authenticity.
Critics sometimes question the family’s media saturation, but supporters argue it reflects modern celebrity where transparency builds connection. The Met Gala clip balances aspiration with relatability as viewers watch the effort behind the spectacle.
Impact on “Keeping Up with the Kardashians”
“KUWTK” continues delivering exclusive access to the family’s lives, with Met Gala episodes traditionally among the most watched. This season’s focus on fashion events and personal milestones keeps viewers engaged as the series evolves with the family’s changing dynamics.
The show’s longevity stems from blending high-stakes glamour with everyday moments. Kardashian’s music video commitment and corset struggles provide both entertainment and insight into her work ethic.
E! and Peacock viewers can expect more behind-the-scenes content as the family navigates upcoming projects and events. The Met Gala episode reinforces the series’ role as a cultural touchstone.
Broader Fashion and Celebrity Context
The Met Gala remains a pinnacle of celebrity fashion, raising millions for the Metropolitan Museum of Art’s Costume Institute. Camp’s emphasis on irony and exaggeration allowed creative freedom, resulting in memorable looks across the board.
Kardashian’s history with the event includes headline-making appearances that sparked trends and conversations. Her Mugler collaboration continues that legacy, blending archival reverence with modern execution.
Other family members’ Versace choices by Donatella highlighted ongoing partnerships that shape red carpet narratives. The collective Kardashian-Jenner presence ensures maximum impact each year.
Fan and Industry Reactions
Social media erupted with praise for the clip’s production quality and candid moments. Fans analyzed the corset’s engineering and speculated on final styling. Fashion insiders commended the commitment to theme while noting the physical demands on celebrities.
The music video invitation from Hilton added nostalgic appeal, referencing their early 2000s friendship. Viewers appreciated the full-circle element in Kardashian’s career.
As the Met Gala approaches, anticipation builds for the family’s complete looks. The “KUWTK” teaser effectively whets appetites while providing value through exclusive access.
Kardashian’s preparation exemplifies the intersection of celebrity, fashion and media in contemporary culture. The extreme corset and camp theme create a moment that transcends the event, becoming part of broader conversations about beauty standards, effort and entertainment.
Business
Chase App Down? Users Report Outages as Bank Investigates Technical Issues
NEW YORK — Chase Bank customers across the United States reported widespread problems with the Chase mobile app Saturday, with many unable to access accounts, view balances or complete transactions. Downdetector and other outage tracking sites showed spikes in complaints, prompting the financial institution to acknowledge technical difficulties and work on a resolution. The issues come at a time when mobile banking has become essential for millions of Americans handling daily finances.
Users took to social media and customer service lines to voice frustration as the app displayed error messages, loading failures or complete inaccessibility. Reports indicated problems with login, balance inquiries, transfers and Zelle payments. While not all customers experienced disruptions, the volume of complaints suggested a significant outage affecting a broad user base.
Chase has not issued a formal statement detailing the cause, but sources familiar with the situation said technical teams were investigating potential server or network issues. The bank urged customers to use the website or visit branches for urgent needs while the app problems persisted. Similar incidents in recent months have highlighted the challenges of maintaining reliable digital services amid high demand.
Scope of the Outage and Customer Impact
Downdetector data showed hundreds of reports within a short window, with the majority centered on the mobile app. Account access and transactions accounted for the largest share of complaints, followed by bill pay and Zelle. The timing affected users attempting weekend banking tasks such as deposits, payments or balance checks.
Many customers expressed concern over potential delays in bill payments or transfers, particularly those relying solely on the app for financial management. Small business owners and gig workers reported added stress from inability to monitor cash flow in real time. Others turned to alternative apps or called customer service, leading to longer wait times.
Chase’s customer support channels experienced increased volume, with some users waiting extended periods for assistance. The bank recommended trying the app later or using desktop versions as temporary workarounds. No data breaches or security issues were reported in connection with the outage.
Chase’s History of Technical Challenges
This is not the first time Chase customers have faced app or online banking disruptions. Previous incidents involved similar error messages and temporary unavailability, often resolved within hours. The bank has invested heavily in digital infrastructure, but scaling to serve tens of millions of users presents ongoing complexities.
Industry analysts note that major banks like Chase, Bank of America and Wells Fargo periodically encounter outages due to high traffic, software updates or third-party dependencies. Mobile banking usage has surged post-pandemic, increasing pressure on systems designed for growing demand.
Chase has generally responded quickly to past issues, restoring service and communicating through social channels. Customers appreciate transparency but often call for more robust backup systems to prevent recurrence.
Broader Implications for Digital Banking
Outages at major institutions underscore reliance on technology for everyday finance. As cash usage declines and digital payments dominate, even brief disruptions create inconvenience and erode confidence. Regulators encourage banks to maintain resilient systems and clear contingency plans.
Consumer advocates recommend maintaining multiple banking relationships and having cash or alternative payment methods available. Enabling notifications for account activity and reviewing statements regularly can help spot issues early.
The incident may prompt Chase to accelerate upgrades or redundancies. Competitors could see temporary customer shifts as frustrated users explore alternatives, though loyalty to primary banks often prevails once service resumes.
What Customers Should Do During Outages
Chase recommends several steps when the app is unavailable. First, try closing and reopening the application or restarting the device. Clearing cache or updating to the latest version can resolve software conflicts. Users should also verify internet connection and try switching between Wi-Fi and mobile data.
For urgent needs, the Chase website offers most functions available on the app. Branch visits or ATM transactions provide in-person options. Customer service representatives can assist with account inquiries over the phone.
Once service returns, customers should review accounts for any pending transactions or discrepancies. Reporting problems through the app’s feedback tools helps the bank identify and address root causes.
Chase’s Response and Future Outlook
The bank typically issues updates via its official social media accounts and website during significant outages. Customers can follow @Chase for the latest information. Compensation for inconveniences is sometimes offered on a case-by-case basis, particularly for time-sensitive issues.
Looking ahead, Chase continues modernizing its digital platforms with enhanced security and user features. Artificial intelligence and machine learning play larger roles in fraud detection and personalized services. However, these advancements require rigorous testing to avoid introducing new vulnerabilities.
The financial industry as a whole invests billions annually in cybersecurity and infrastructure to minimize downtime. Outages serve as reminders of the need for constant vigilance and improvement.
Advice for Preventing Future Frustrations
Customers can take proactive steps to reduce outage impacts. Setting up paperless statements and alerts ensures awareness of account activity. Using multiple devices or browsers provides backup access options. Keeping the app updated and reviewing permissions maintains optimal performance.
Diversifying financial tools, such as using different banks for various purposes, offers protection against single-point failures. Budgeting apps and manual record-keeping provide alternatives during digital disruptions.
As mobile banking evolves, user education on best practices becomes increasingly important. Banks and regulators collaborate on guidelines to enhance reliability and customer protection.
While Saturday’s Chase app issues caused temporary inconvenience, quick resolution and communication typically mitigate long-term effects. The incident highlights both the convenience and vulnerabilities of digital finance in an increasingly connected world.
Business
Alphabet Going After OpenAI Complex's Lunch (Rating Upgrade)
Alphabet Going After OpenAI Complex's Lunch (Rating Upgrade)
Business
(VIDEO) LE SSERAFIM Drops Cinematic ‘Celebration’ MV as Fearless Concept Evolves in New Era
SEOUL — K-pop powerhouse LE SSERAFIM unleashed a visually stunning music video for their pre-release single “CELEBRATION,” marking an exciting step toward their upcoming second studio album “PUREFLOW” pt.1. The group, under Source Music and HYBE, continues evolving its signature fearless theme into one of self-acceptance and communal joy, captivating global fans with cinematic storytelling and powerful choreography. Released on April 24, 2026, the MV quickly climbed charts and trended worldwide on YouTube.
The video opens with thriller-like tension as a lone “Creature” figure flees through snowy fields and deserts, pursued by the five members of LE SSERAFIM. What begins as a chase transforms into an invitation to embrace uniqueness and celebrate differences. The narrative culminates in a vibrant party scene where the Creature sheds isolation, joining the group in joyful expression. Director Soonsik Yang crafted a mind-blowing cinematic experience blending gothic elements, comedy and wholesome messages of solidarity.
“CELEBRATION” serves as a thematic bridge, building on the group’s “Fearless” identity. Lyrics encourage listeners to raise glasses to painful times that bloom into faith, turning scars into strength. The track mixes upbeat pop with hard-hitting drops, featuring Yunjin’s English rap and powerful vocals across members. Fans praised the song’s short length as its only flaw, calling for extended versions and all-night celebrations.
Group’s Journey and Concept Consistency
LE SSERAFIM debuted in 2022 with “FEARLESS,” establishing a bold, unapologetic image. Subsequent releases like “ANTIFRAGILE” and “EASY” reinforced resilience amid challenges. The group has navigated lineup changes, external pressures and industry scrutiny while maintaining strong sales and international appeal. Members Chaewon, Sakura, Kazuha, Yunjin and Eunchae bring diverse talents in vocals, dance and performance.
The “PUREFLOW” album concept signals growth and purification after trials. “CELEBRATION” represents reaching acceptance after fear, a message resonating with fans (known as FEARNOT) who relate to themes of self-doubt and empowerment. The MV’s monster and creature motifs celebrate being different, turning “freaks” into party guests.
Creative directing by Gabriel Cho and visual leads delivered high production values. Practical effects, wire work and AI-assisted VFX created immersive worlds. The video amassed millions of views rapidly, trending at No. 1 worldwide on YouTube and scoring strong iTunes and Spotify debuts.
Fan Reactions and Global Impact
FEARNOTs flooded social media with praise for the MV’s storytelling and member visuals. Sakura’s blonde hair, group choreography and comedic moments stood out. International fans, including ARMYs showing cross-group support, amplified reach. Comments highlighted emotional depth beneath fun visuals, with many interpreting the Creature as a metaphor for inner struggles.
The release builds anticipation for “PUREFLOW” pt.1 dropping May 22, 2026. Pre-save links and merchandise campaigns engaged fans early. LE SSERAFIM’s consistent concept evolution sets them apart in a crowded K-pop landscape, blending artistry with commercial success.
Global streaming records and social buzz demonstrate the group’s growing influence. Tours and international promotions further expand their footprint, with European dates rumored for later 2026.
Industry Significance
HYBE’s investment in LE SSERAFIM reflects confidence in their potential as a flagship act. The group’s ability to tackle mature themes while delivering catchy music appeals to broad demographics. “CELEBRATION” reinforces K-pop’s capacity for meaningful messaging within entertaining packages.
Competitors watch closely as LE SSERAFIM carves a lane blending empowerment anthems with high-concept visuals. The MV’s success bodes well for album performance and future projects.
Critics note the video’s technical achievements and emotional payoff. Some called it one of the year’s strongest MVs for its balance of spectacle and substance. The hardstyle-influenced drop and party energy offer replay value while lyrics provide depth.
Looking Ahead for LE SSERAFIM
As promotions ramp up, the group prepares for comeback stages, fan meetings and content. “CELEBRATION” sets a joyful tone for the new era, inviting listeners to embrace flaws and celebrate growth.
FEARNOTs eagerly await full album details and potential world tour announcements. The pre-release builds momentum, ensuring strong first-week sales and chart performance.
LE SSERAFIM’s trajectory demonstrates resilience and creativity. From debut challenges to global recognition, the group embodies its message of fearlessness evolving into celebration.
The cinematic “CELEBRATION” MV stands as a milestone, blending entertainment with empowerment in signature LE SSERAFIM fashion. Fans worldwide raise virtual glasses, ready for more as the group flows into its purest era yet.
Business
Case Enters Fourth Month with Few Leads as Search Continues for ‘Today’ Anchor’s Mother
TUCSON, Ariz. — The mysterious abduction of Nancy Guthrie, the 84-year-old mother of NBC’s “Today” co-anchor Savannah Guthrie, has entered its fourth month with authorities still searching for answers and no arrests made in the case. Blood evidence at her Catalina Foothills home and surveillance footage of a suspect tampering with a security camera have fueled speculation, but Pima County Sheriff’s Office officials say the investigation remains active and ongoing without major breakthroughs.
Nancy Guthrie was last seen at her residence on the evening of January 31, 2026, and reported missing the next day. Investigators believe she was taken against her will after finding signs of forced entry and drops of her blood on the front porch. The FBI joined the probe early, releasing images of a male suspect described as approximately 5 feet 9 inches to 5 feet 10 inches tall with an average build, carrying a black Ozark Trail backpack.
The case has captivated national attention due to Savannah Guthrie’s prominent role on morning television. The anchor took time away from “Today” following her mother’s disappearance but has since returned while remaining involved in the search efforts alongside family members.
Reward and Public Appeals
The family offered a $1 million reward for information leading to Nancy Guthrie’s safe recovery, later adjusting expectations as weeks passed without contact. Savannah Guthrie released a video message expressing hope while acknowledging the possibility of the worst outcome. Authorities have received tips but described many as lacking credibility or specificity.
Former FBI profilers and experts have weighed in with theories ranging from targeted retribution linked to Savannah’s public profile to random opportunity or financial motives. Blood spatter analysis suggests Nancy Guthrie may have fought back during the abduction, coughing up blood on the porch in what one expert called her “last stand.”
No ransom demands reached the family directly, though suspicious communications sent to media outlets raised questions. The unusual method added to the case’s strangeness, with investigators treating all tips seriously while cautioning against misinformation.
Ongoing Investigation Challenges
Pima County Sheriff Chris Nanos has repeatedly stated belief that Nancy Guthrie was abducted and did not leave voluntarily. The 84-year-old’s limited mobility makes an independent departure unlikely. DNA evidence recovered from the home is under analysis, but results have not yielded public suspects.
Surveillance video from neighboring properties and the disabled Ring camera at the Guthrie residence provide limited clues. The suspect appeared to approach deliberately, suggesting possible familiarity with the area or target.
The investigation spans local, state and federal resources, including the FBI’s Phoenix Field Office. Challenges include the rural-suburban setting, lack of immediate witnesses and absence of clear motive. As time passes, experts note the case becomes harder, with physical evidence degrading and memories fading.
Family Impact and Savannah Guthrie’s Role
Savannah Guthrie has balanced professional duties with private advocacy for her mother. Her return to “Today” drew emotional support from colleagues and viewers. The anchor has avoided detailed public comments on the investigation to respect its active status while expressing gratitude for continued attention.
The Guthrie family’s unity in the face of uncertainty has drawn admiration. Siblings and extended relatives have participated in searches and appeals. The case highlights vulnerabilities of elderly individuals living alone, even in secure neighborhoods.
Nancy Guthrie’s disappearance has prompted discussions on elder safety, home security and rapid response to missing persons cases involving seniors. Advocacy groups call for increased awareness and resources for such investigations.
Theories and Expert Analysis
Retired FBI profilers suggest possible motives including retribution against Savannah Guthrie’s public profile, financial gain or personal grudge. The lack of communication with the family points away from typical ransom scenarios. Some experts theorize the perpetrator may have panicked or faced complications post-abduction.
Blood evidence and signs of struggle indicate violence during the incident. The suspect’s preparation with a backpack suggests planning, though the motive remains elusive. No connections to known criminal networks have been publicly established.
The case shares similarities with other high-profile abductions but stands out due to the victim’s age and family prominence. Media coverage has been extensive, potentially aiding tips while complicating privacy for investigators.
Community and Law Enforcement Efforts
Local volunteers and organizations have assisted in searches of surrounding desert and mountainous areas. Pima County authorities conduct regular updates, urging anyone with information to come forward. The FBI’s kidnapping reward of up to $100,000 supplements the family’s offer.
Neighbors in Catalina Foothills expressed shock at the crime in their typically quiet community. Increased security awareness has followed, with residents reviewing home cameras and lighting.
As spring turns to summer in Arizona, weather challenges may hinder physical searches, shifting emphasis to digital and tip-line leads. Authorities stress the investigation’s priority and commitment to bringing Nancy Guthrie home.
Broader Context of Missing Persons Cases
Nancy Guthrie’s case joins thousands of active missing persons investigations nationwide, though few receive comparable attention. Elder abductions remain relatively rare but devastating, often involving family connections or financial exploitation.
Advocates push for better data sharing and resources for vulnerable populations. The Guthrie family’s platform has spotlighted these issues, potentially driving policy discussions on prevention and response.
For now, hope persists alongside frustration as weeks turn to months. The family, law enforcement and public continue seeking answers in a case that has gripped the nation since February.
Business
Spirit Airlines shutdown prompts quick response from Trump Transportation Sec
Transportation Secretary Sean Duffy launches a civility campaign, ‘Dress Better, Act Better, Fly Better,’ urging air travelers to dress with respect and practice courtesy.
Transportation Secretary Sean Duffy announced a number of relief measures for Spirit Airlines customers and employees on Saturday.
The four major U.S. airlines — United, Delta, JetBlue and Southwest — “are all capping ticket prices specifically for Spirit customers who now need to rebook canceled flights,” Duffy said in a Saturday post on X. The airlines will offer Spirit customers who validate they have booked Spirit flights a one-way ticket costing around $200, Duffy said in a Saturday morning press conference.
“I would recommend that if you have a ticket with spirit that you actually try to book with these airlines as soon as possible, these offers are not going to be open forever,” he said.
The press conference followed Spirit’s early Saturday statement that the company would be shutting down operations.
TRUMP SAYS HE WANTS ‘SOMEBODY’ TO BUY SPIRIT AIRLINES, OPPOSES UNITED-AMERICAN MERGER

Transportation Secretary Sean Duffy during a news conference in Terminal A at Newark Liberty International Airport (EWR) in Newark, New Jersey, on Saturday, May 2, 2026. (Adam Gray/Bloomberg via Getty Images / Getty Images)
Additional relief measures for both customers and former Spirit employees will also be implemented, including a pathway for preferential employment interviews at other airlines, Duffy wrote.
“There’s a demand for aviation workers. So, even American and United have drafted or crafted microsites for Spirit employees to potentially jump the line, jump the queue and get preferential treatment in the application process for the many airlines that are now hiring, whether it’s pilots, flight attendants, baggage workers, or even those who have worked in the call centers, you can go to the individual websites to see what’s offered by each of the individual airlines,” Duffy said.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| UAL | UNITED AIRLINES HOLDINGS INC. | 92.52 | +2.52 | +2.80% |
| JBLU | JETBLUE AIRWAYS CORP. | 4.86 | +0.20 | +4.40% |
| FLYYQ | SPIRIT AVIATION HOLDINGS INC | 1.045 | -0.35 | -25.36% |
| DAL | DELTA AIR LINES INC. | 68.98 | +0.99 | +1.46% |
| LUV | SOUTHWEST AIRLINES CO. | 38.76 | +0.84 | +2.22% |
| ALGT | ALLEGIANT TRAVEL CO. | 75.02 | -0.62 | -0.82% |
Spirit Airlines announced the shutdown of operations early Saturday morning.
AMERICAN AIRLINES CEO SAYS MERGER WITH UNITED WOULD BE ‘BAD FOR CUSTOMERS’
“This morning at 3 a.m., Spirit Airlines ceased operations. So what that means is Spirit does not have airplanes in the air flying as of this morning. Also, their call centers are closed, and they don’t have staff at ticket counters. So if you have a flight scheduled with Spirit Airlines, don’t show up at the airport. There will be no one here to assist you,” Duffy said.
Duffy also bashed Democrats, particularly the Biden administration, for what he said was their role in quashing a failed Spirit-JetBlue merger.
“Why are we here today?” Duffy asked. “There was a proposed merger between JetBlue and Spirit, and Joe Biden and [Biden Transportation Secretary] Pete Buttigieg, along with the Biden DOJ, decided that they did not want that merger to take place.”

A Spirit Airlines aircraft undergoes operations in preparation for departure at the Austin-Bergstrom International Airport on Feb. 12, 2024, in Austin, Texas. (Brandon Bell/Getty Images / Getty Images)
“And at the time, the Biden and Buttigieg DOJ bragged and said, as they canceled the option for this merger, that this was a victory for U.S. travelers who deserve lower prices and better choices,” Duffy continued.
“This merger should have been allowed. And this, today would indicate this is not better for travelers. This is not better for pricing. This is not better for competition. Actually. It’s worse. We had an airline go down because the markets were trying to allow two airlines to merge, make them stronger and offer more competition for the American consumer,” he said.
Duffy also blamed Sen. Elizabeth Warren, D-Mass., for championing the merger’s blocking.
“Elizabeth Warren at the time chaired the blocking of the merger, saying… this was a Biden win for flyers. So again, I think it’s important that we always look with a keen eye when airlines want to merge. We care about pricing for consumers,” Duffy said.
Additional relief measures Duffy announced included reduced fares from American and Delta on high-volume Spirit routes and price freezes on routes that they’ve shared with Spirit. Allegiant Air, a budget airline with similar prices to Spirit’s, will offer 50% discounts on base fares until May 10, Duffy announced.
Duffy did reveal that the Trump administration was exploring all options for ways to bail out Spirit.

President Biden and Transportation Secretary Pete Buttigieg during an event at the White House in Washington, D.C., on Monday, Nov. 27, 2023. (Michael Reynolds/EPA/Bloomberg via Getty Images / Getty Images)
“There was a number of ideas being floated on how the government could step in and be helpful to Spirit Airlines. The president was like a dog on a bone trying to figure out a way to keep Spirit afloat,” Duffy recalled.
“In the end, this was a creditor issue. Again, they have the final say of whether they want to do a deal with the government, but also, from the government’s perspective, we oftentimes don’t have half a billion dollars lying around in a spare account that we can put into a bailout of an airline. So there was creative thinking on how it could happen, those two things never materialized.”
Duffy also downplayed broader risks for the budget airline sector, rejecting the notion that the ongoing war in Iran played a factor in Spirit’s downfall.
MAJOR AIRLINE AXES 20,000 ‘UNPROFITABLE’ FLIGHTS AS JET FUEL COSTS SOAR
“Spirit was in dire straits long before the war with Iran. Multiple times they had filed for bankruptcy. Their model wasn’t working. They couldn’t get the fiscal health. So this was not the impetus. The war was not the impetus for Spirit,” he said.
He did reference a recent request from other budget airlines for $2.5 billion, but said it was not necessary.
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“You’ve heard that other airlines have talked about requesting a $2.5 billion bailout. I am in continual contact, and my team is in contact with all the CEOs of the airlines. I would say that at this point, I don’t think it’s necessary. They do have access to cash. If they want to come to the US government, we would be a lender of last resort. If they can find dollars in the private markets, I think that’s better for them,” Duffy said.
This is a developing story. Please check back for updates.
Business
Sandisk's SaaS Illusion: Anatomy Of A Big Exit
Sandisk's SaaS Illusion: Anatomy Of A Big Exit
Business
US does not think airline industry needs bailout, has access to cash

US does not think airline industry needs bailout, has access to cash
Business
From AMD to Disney, the Wall Street Week Ahead Is Packed
Get ahead of the market by subscribing to Seeking Alpha’s Wall Street Week Ahead, a preview of key events scheduled for the coming week. The newsletter keeps you informed of the biggest stories set to make headlines, including upcoming IPOs, investor days, earnings reports, and conference presentations.
Wall Street closed out the week on a strong note Friday, with Apple shares climbing nearly 4% after the company posted its best-ever March quarter, capping a week that saw Alphabet smash Q1 estimates with $109.9B in revenue and Google Cloud surging 63% year-over-year past $20B for the first time.
Oil prices gapped down Friday after Iran reportedly submitted its response via Pakistani mediators to the latest U.S. amendments to a draft deal to end the Middle East war, reviving hopes for an agreement to end the conflict. Still, U.S. President Donald Trump said later in the day he is “not satisfied” with the new offer.
Investors will be looking forward to the Federal Reserve speakers for next week, with Vice Chair for Supervision Michael Barr scheduled to speak on banking regulation on Tuesday and Federal Reserve Bank of Chicago President Austan Goolsbee and St. Louis President Alberto Musalem scheduled to speak at separate events on Wednesday.
The consumer confidence data, along with housing numbers, is scheduled for Tuesday. On Thursday, jobs data and the quarterly GDP numbers will be released. ISM PMI data is scheduled for Friday.
_______________________________________________________________
Earnings spotlight: Monday: Palantir Technologies (PLTR), Tyson Foods (TSN). See the full earnings calendar.
Earnings spotlight: Tuesday: AMD (AMD), Pfizer (PFE), Marriott (MAR), Rivian (RIVN). See the full earnings calendar.
Earnings spotlight: Wednesday: Disney (DIS), Uber (UBER), Arm Holdings (ARM), Instacart (CART), Shopify (SHOP). See the full earnings calendar.
Earnings spotlight: Thursday: Coinbase (COIN), Airbnb (ABNB), DoorDash (DASH), Gilead
Business
Star Unlikely for Thunder Series Start as Lakers Push Forward
LOS ANGELES — Los Angeles Lakers star Luka Doncic remains sidelined with a Grade 2 left hamstring strain, casting uncertainty over his availability as the team potentially prepares to face the Oklahoma City Thunder in the Western Conference semifinals. The Slovenian superstar has missed the majority of the first-round series against the Houston Rockets, and latest reports indicate he will not be ready for the opening games against OKC if the Lakers advance.
Doncic suffered the injury on April 2 during a matchup against the Thunder, ironically the team the Lakers could meet next. He has made limited progress in controlled on-court work, including movement drills and spot shooting, but has not advanced to full-contact activities or scrimmages. Recovery timelines for Grade 2 strains typically range from four to six weeks, placing his potential return in mid-to-late May at the earliest.
Latest Medical and Team Updates
Lakers coach JJ Redick and medical staff continue a cautious approach to Doncic’s rehabilitation. Recent updates from sideline reporters and insiders describe a “slow build” with no firm timetable. The 27-year-old has traveled for specialized treatment, including sessions in Europe, to accelerate healing while minimizing re-injury risk.
Team sources express growing optimism for a mid-series return if the Lakers advance deep into the second round, potentially Games 3 or 4 against Oklahoma City. However, availability will hinge on how his body responds to increased loading over the coming weeks. Doncic’s presence around the team for meetings and encouragement has been noted as a positive, even if he cannot yet contribute on the court.
Austin Reaves and other key rotation players have stepped up in Doncic’s absence, helping the Lakers navigate the Rockets series. LeBron James continues anchoring the lineup, but the team clearly misses Doncic’s playmaking, scoring and size against smaller guards.
Impact on Lakers Playoff Run
The Lakers have shown resilience without their All-NBA guard, but a prolonged absence would test depth against a Thunder team that dominated regular-season matchups. Oklahoma City swept the season series, winning by an average of more than 20 points per game, highlighting defensive and athletic mismatches the Lakers must address.
Doncic’s scoring punch and facilitation would be vital in a high-paced series. His absence forces adjustments in offensive sets and increased minutes for supporting cast members. If the Lakers advance without him, any return would provide a massive boost for deeper playoff runs.
Medical experts note that rushing a hamstring return often leads to setbacks, potentially sidelining players longer. The organization prioritizes long-term health, especially with Doncic’s contract and future value in mind.
Thunder Perspective and Series Outlook
Oklahoma City enters any series against the Lakers as heavy favorites, bolstered by MVP candidate Shai Gilgeous-Alexander and a deep, athletic roster. The Thunder’s defensive intensity and transition game could exploit the Lakers’ temporary lack of star firepower.
Thunder coach Mark Daigneault has prepared his team for various Lakers lineups, acknowledging Doncic’s impact when healthy. OKC players express respect for the challenge but focus on executing their system regardless of opponent availability.
A Doncic-less Lakers team remains dangerous due to James’ experience and role players’ shooting. However, the Thunder’s youth and regular-season dominance suggest a tough test. Series projections shift dramatically based on Doncic’s status.
Broader NBA Injury Management Trends
Doncic’s situation reflects league-wide caution with soft-tissue injuries during the physical playoff grind. Teams increasingly use load management and advanced rehab protocols to protect stars. Hamstring strains, in particular, require patience to avoid chronic issues.
The NBA’s medical staff and player health initiatives emphasize data-driven return-to-play decisions. Fans and analysts often push for faster returns, but organizations balance short-term wins against long-term roster health.
Doncic’s history of durability concerns adds scrutiny. His previous injuries, while not overly frequent, highlight the need for conservative timelines at this stage of his career.
Fan Reactions and Betting Implications
Lakers fans express frustration over the timing but rally behind the current roster. Social media buzzes with optimism for a potential mid-series return while acknowledging the slow rehab process. Betting markets reflect uncertainty, with odds adjusting based on injury reports for potential series.
Gamblers monitor daily updates closely, as Doncic’s status could swing series odds significantly. Prop bets on his return date or games played offer additional angles.
What’s Next for Doncic and Lakers
The Lakers focus on closing out the Rockets while monitoring Doncic’s daily progress. If they advance, preparation for Oklahoma City will include contingency plans with and without their star. Medical milestones over the next 10–14 days will clarify the picture.
Doncic’s return, whenever it occurs, would energize the fan base and provide a playoff spark. Until then, the supporting cast must elevate to keep championship hopes alive in a loaded Western Conference.
The hamstring injury adds another chapter to the Lakers’ injury-plagued playoff narratives in recent years. How the organization manages this latest setback could define their postseason fate and Doncic’s availability for a deep run.
As Game 6 against Houston loomed, all eyes remained on the medical staff’s updates and the team’s resilience without its Slovenian superstar. The Thunder await a formidable but potentially hobbled opponent if the series advances.
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