Welcome to See King Alpha's Wall Street breakfast, where we cover the top news for investors every morning.

Good morning. Today is Wednesday, July 17th. I'm Julie Morgan. Spirit Airlines trims its outlook. Ether ETFs are

reportedly a week away from trading and Elon Musk says California is not the place to be.

Spirit Airlines is down 5.7% pre-market as the company trimmed its Q2 revenue outlook

to 1.28 billion down from the previous estimate of 1.32 to 1.34 billion.

The airline's non-ticket revenue, which includes fees for checked baggage, carry-on bags, and seat selection is now expected to be several

dollars lower than anticipated, about 64 bucks per passenger.

The ultra low-cost carrier anticipates reporting an adjusted loss of 173

million to 160 million versus its previous loss estimate of 145 to to $120 million.

Spirit estimates a negative adjusted operating margin between 13.5

and 12.5 percent for Q2.

Spirit has been struggling to turn a profit since the pandemic facing softer

demand, Pratt and Whitney engine issues and the fallout of a planned acquisition by JetBlue Airways. Spirit expects to release

Q2 results in early August. Exchange traded funds investing directly in Ether will likely start trading on July 23rd,

according to a media report this week.

If you recall the US Securities and Exchange Commission approved in May certain

regulatory requirements for prospective

issuers, but the regulator has yet to approve the applicant's S1 registration filings.

The Block reported citing one source familiar with the matter that the S1 filings are due today by 530 p.m. Eastern time.

Bernstein contended late last month that these Ether holding, once cleared for trading, will likely attract slower demand than

spot Bitcoin peers, partly due to the lack of an Ethel staking feature in the E. T.F.

SpaceX and social media site X are pulling up stakes in California

...