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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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