Midway after losing Lexington and Yorktown at Coral Sea

How would the Pacific War and Battle of Midway change if both Lexington and Yorktown were lost at Coral Sea?

The United States would fight Midway with Enterprise and Hornet, while any British carrier reinforcement from the Indian Ocean would struggle to arrive in time and Ranger was not considered a credible substitute.

Enterprise and Hornet would remain available, a correction made during the exchange after an initial count of only one surviving carrier. Losing Yorktown would nevertheless remove one of the three carriers used at Midway. British carriers in the Indian Ocean had other commitments and would have needed an exceptionally rapid transfer to take part. Ranger is rejected as a substitute, with Ernest King's historical request to borrow a British carrier cited as evidence of its limitations; Saratoga was still working up. In the proposed Anglo-American combination, British fighter direction and armoured flight decks would strengthen defence, while American aircraft would provide the daytime strike. British Swordfish or Albacores are preferred for night attacks, and the participants explicitly reject sending them into the same daylight fight.