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Fitbit Inc (NYSE: FIT) stock lost more than 12 percent and was trading below its all-time low of $4.90 ahead of Tuesday's open. The company best known for its fitness tracking watches said it lost 2 cents per share in the fourth quarter on revenue of $570.8 million versus expectations of break-even on revenue of $588.9 million. The company also guided its first quarter EPS and revenue below Wall Street's expectations while full year revenue expectations also fell short.

Eli Lilly and Co (NYSE: LLY) could see increased volume Tuesday after the drug manufacturing giant announced an encouraging update. The company said its Verzenio therapy received approval from the U.S. Food and Drug Administration for the treatment of various forms of breast cancer.

Express Scripts Holding Company (NASDAQ: ESRX) could see increased volume as the largest pharmacy benefit management firm in the U.S. is scheduled to report its fourth quarter results after market close. Analysts are modeling the company to earn $2.09 per share in the fourth quarter on revenue of $25.11 billion.

Discovery Communications Inc. (NASDAQ: DISCA) gained nearly 1 percent after the global media company reported its fourth quarter results. The company earned 47 cents per share in the fourth quarter on revenue of $1.86 billion versus expectations of 41 cents per share on revenue of $1.79 billion.

Xcerra Corp (NASDAQ: XCRA) gained more than 1.5 percent ahead of Tuesday's open. The provider of test and handling capital equipment and services to the semiconductor industry. The company was targeted for an acquisition by China's Unic Capital Management but the agreement has been terminated by regulatory bodies. Analysts at DA Davidson said Monday the failed takeover represents a buying opportunity as its "business momentum is very robust."

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