The stocks making the biggest moves in premarket trading include Biogen, Pfizer, Best Buy, Snap, iRobot, and more.

Pershing Square Capital Management’s Bill Ackman spoke to CNBC’s „Squawk Box.“

Billionaire investor Bill Ackman said highly levered companies will have a hard time surviving as the country struggles to reopen fully.

Best Buy said its quarter-to-date sales rose about 2.5%, driven by a surge in online shopping for electronic devices and appliances.

China’s recent stock market rally is raising fears that it’s being driven by retail investors indulging in leverage-fueled risky trading which caused a spectacular crash back in 2015.

We believe this is a tremendous opportunity for several reasons, activist shareholder Ken Squire says.

Snap’s stock price initially plunged more than 11% then moderated to a smaller decline as investors digested positive user and revenue growth on Tuesday after the company reported its second-quarter earnings.

Snap warned that the uncertainty around events like the back-to-school season and the operations of sports leagues in the third quarter could impact advertising demand.

United and other airlines are scrambling to cut costs as demand for air travel remains depressed in the coronavirus pandemic.

The stocks making the biggest moves in premarket trading include Coca-Cola, Tapestry, Lockheed Martin, and more.