Former Morgan Stanley Asia chairman Stephen Roach warns warns V-shaped recovery mania on Wall Street is leading investors astray.

American Airlines swings to a quarterly loss as the coronavirus depressed demand, but it slashed its cash burn.

AT&T said on Thursday it lost monthly phone subscribers and suffered a $2 billion revenue decline from delayed movie releases and advertising shortfalls in the second quarter as the Covid-19 pandemic ravaged its business.

Southwest Airlines lost $915 million in the second quarter and warned that travel demand will be „depressed“ until there’s a coronavirus vaccine or treatment.

Twitter said it saw „moderate recovery“ to its ad business compared with March, but ad revenue was still down 23% year over year.

Dow Inc. swung to a second-quarter loss as demand plunged for its chemicals from consumer durables and construction material makers and said it would reduce its workforce by 6% to weather the coronavirus crisis.

The „Mad Money“ host said that wider mask adoption could push stocks tied to state economic reopening plans higher in addition to tech names.

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.