U.S. stocks were in positive territory on Tuesday as trade fears were eased. The Dow Jones Industrial Average gained 1.68% to 25,237, the S&P 500 index climbed 1.63% to 2,789 and the Nasdaq Composite Index advanced 2.03% to 7,482.
Shares of Box Inc. (BOX, Financial) fell more than 7.5% on Tuesday after the company reported first-quarter 2020 results on Monday. Revenue grew 16% from the prior-year quarter to $162.97 million, beating estimates by $1.51 million. A loss of 3 cents per share topped estimates by 2 cents.
“In the first quarter, we drove record add-on product attach rates of more than 90% across our six-figure deals," co-founder and CEO Aaron Levie said. "Customers are increasingly adopting Box as a platform for secure content management, workflow, and collaboration.”
Looking at the cash generation, the net cash provided by operating activities in the first quarter was $25.5 million, up from $18.4 million in the prior-year quarter. The free cash flow was $13.4 million, almost doubling the $7.3 million generated in the year-ago quarter.
Looking ahead to the second quarter, the company expects revenue between $169 million and $170 million. The GAAP basic and diluted net loss per share is expected to range from 29 cents to 28 cents. The non-GAAP net loss is projected to be between 2 cents and 1 cent.
Gainers
- Mattel Inc. (MAT, Financial)
- Xerox Corp. (XRX, Financial)
- Wynn Resorts Ltd. (WYNN, Financial)
- United Rentals Inc. (URI, Financial)
- Hasbro Inc. (HAS, Financial)
Losers
- Ventas Inc. (VTR, Financial)
- HCP Inc. (HCP, Financial)
- Equinix Inc. (EQIX, Financial)
- Atmos Energy Corp. (ATO, Financial)
Global markets
The main European stock markets traded deep in the green. The U.K.'s FTSE 100 gained 0.41%, France's CAC 40 rose 0.51%, Germany's Dax jumped 1.51% and Spain's IBEX 35 climbed 1.05%.
In Asia, Japan's Nikkei 225 fell 0.01%, India’s BSE Sensex advanced 1.39%, Hong Kong's Hang Seng swelled 0.49% and China's Shanghai Composite declined 0.96%.
Disclosure: The author holds no positions in any stocks mentioned.
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