Welcome to Seeking Alpha's Wall Street Lunch, our afternoon update on today's market action, news, and analysis.

Good afternoon, today is Wednesday, April 22nd, and I'm your host, Kim Khan.

Our top story so far, the Trump administration is reportedly nearing a deal to rescue Spirit Airlines.

Chairs surged after the Wall Street Journal

reported the U.S. government could provide up to $500 million in financing in exchange for warrants

representing a significant stake in the carrier. Subsequent reports said the government's ownership

could reach as high as 90% under a rescue agreement. The transportation and commerce departments

are said to be involved in the

talks. President Donald Trump said Tuesday he would like to see a buyer for the distressed airline

and indicated he may be open to federal assistance. Among active stocks, Boeing is higher after

reporting quarterly results that topped Wall Street expectations of both the top and bottom lines.

Investors balanced

improving aircraft deliveries against ongoing geopolitical and travel market risks. Seeking Alpha

analyst Dier and Bichai said that had Boeing delivered 737s as planned, operating cash flow

would have been positive. It was not the best quarter the company could have had, but it still

showed substantial improvement, he added.

AT&T is trading defensively as declines in legacy revenue and pressure on free cash flow,

offset gains in Internet and postpaid phone revenue.

Analyst Samuel Smith said the results reinforced his biggest concerns with AT&T,

that it operates in a perpetually high capital intensity business

and a highly competitive industry that keeps its growth and cash generation constrained.

And AST Space Mobile is rallying after securing FCC approval to deliver directed device cellular

...