CNBC's Morning Squawk newsletter highlights key moments for investors including Berkshire Hathaway's first annual meeting since Warren Buffett left the CEO role. The company held its first meeting since Buffett left, with CEO Greg Abel discussing company performance and answering questions from attendees. Berkshire's cash pile expanded to a record $397.4 billion in Q1, largely due to a rebound in its insurance business. Spirit Airlines ended operations after failing to secure a $500 million government bailout deal with bond investors. The airline, known for its yellow planes and no-frills service, was plagued by soaring costs and a failed merger. Meanwhile, Meta is returning to court in New Mexico in a child safety case that could determine whether the Facebook parent is a public nuisance. President Donald Trump announced that the US would attempt to free ships stuck in the Strait of Hormuz from Iran, but the jump in oil prices put pressure on stocks. The California trial between Tesla CEO Elon Musk and OpenAI CEO Sam Altman is set to resume this week.