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Facebook, Inc. (NASDAQ: FB) stock was trading lower
by more than 1.5 percent and is down more than 11 percent since investors reports of privacy concerns initially surfaced. Axios
reported
Wednesday morning Facebook CEO Mark Zuckerberg will speak within the next 24 hours. A source close to the executive was
quoted as saying "It's a big deal, and he knows it."
Twitter Inc (NYSE: TWTR) rebounded by nearly 2
percent Wednesday morning after falling more than 10 percent on Tuesday on no company specific news. Investors and traders were
likely attributing Facebook's ongoing privacy concerns woes as being an issue the entire social media landscape would have to
tackle.
Delta Air Lines, Inc. (NYSE: DAL) and other airliners
could see selling pressure. Rival airline Southwest Airlines Co (NYSE: LUV) said Wednesday morning it sees lower-than-expected March travel demand due to the
timing of spring break and believes the competitive fare environment is pressuring passenger revenue yields.
Guess?, Inc. (NYSE: GES) could see increased volume
on Wednesday. The clothing brand and retailer is scheduled to report its fourth quarter results
after market close at a time when the stock is down around 25 percent since its January highs.
Proteostasis Therapeutics Inc (NASDAQ: PTI) lost 26
percent on Tuesday after the company announced a public offering of its common stock and was
hit with a short report. However, the stock rebounded 12 percent early Wednesday morning after the company withdrew
its equity offer as "current market conditions are not conducive for an offering on terms that would be in the best interest of
its current stockholders."
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