U.S. markets are set to open low on Thursday, extending to a third straight session of losses despite economic releases that show a stronger labor market and manageable inflation, which advanced 0.4% and core was up 0.3% in January. Further, the market has an eye on Federal Reserve chief Jerome Powell’s testimony in front of the Senate.
Shares of Box, Inc. (BOX, Financial) lost 18% in morning trading on the heels of the company posting its financial results for the fourth quarter. For the quarter, the company reported an annual net sales growth of 24.4% to $136.7 million, while it registered a net loss per shares of 6 cents. Moreover, the results beat analysts’ estimates by 2 cents in earnings per share. In addition to that, free cash flow was $13.3 million, higher than the $10.2 million in the fourth quarter of fiscal 2017.
Gainers
• NRG Energy Inc (NRG, Financial)
• Nucor Corp (NUE, Financial)
Losers
• L Brands Inc (LB, Financial)
• Kohls Corp (KSS, Financial)
• Allergan plc”‹ (AGN, Financial)
• Nordstrom Inc (JWN, Financial)
Global Markets
The main European stock markets closed in negative territory. The U.K.'s FTSE lost 0.96%, France's CAC retreated 1.18%, Spain's Ibex fell 1.07% and Germany's Dax lost 1.86%
In Asia, Japan's Nikkei lost 1.56% and India’s BSE Sensex fell 0.40%, but Hong Kong's Hang Seng advanced 0.65% and China´s SSE Composite gained 0.44%.
(Disclosure: The author holds no positions in any stocks mentioned)
