After heavy falls on Monday, US futures are poised to start lower on Tuesday and social network titan Facebook (NASDAQ:FB) is likely to be under the spotlight again.
It comes after the firm's shares plunged nearly 7% yesterday and shed 0.41% to US$171.85 after the New York bell as it finds itself in the midst of a data privacy row.
Reportedly, the tech group is now holding an open meeting for all employees following allegations that data belonging to its users was harvested by UK-based group Cambridge Analytica during the Trump Presidential campaign.
Founder Mark Zuckerberg will not be present to lead Tuesday's meeting, which instead will be chaired by Facebook's deputy general counsel, Paul Grewal.
Facebook's value plunges $37 billion on news that data firm Cambridge Analytica, which had ties to Trump's campaign, reportedly accessed information from about 50 million Facebook users https://t.co/8geMqVcr3u pic.twitter.com/Yh0imbPQsv
— CNN (@CNN) 20 March 2018
Meanwhile, FedEx Corporation (NYSE:FDX) shares are up 0.46% to US$250.75 as analysts expect the group to post its quarterly earnings at US$3.12 per share on revenue of US$16.15bn after the closing bell.
Also in pre-market, Arena Pharmaceuticals Inc (NASDAQ:ARNA) shares shot up over 33% to US$30.89 after the drug maker unveiled positive results from a Phase 2 trial of its treatment for ulcerative colitis.
The group said on Monday that the OASIS trial for etrasimod achieved "statistically significant improvements versus placebo in the primary, all secondary and clinical remission endpoints".
Last but not least, Children's Place Inc (NASDAQ:PLCE) shares are down 8.74% in pre-market to US$126.25 after traders focused on the sales miss and downbeat outlook rather than a profit beat, a new stock buyback program, and a hiked dividend.