Box stock price – box inc. cl a stock quote (u.s. nyse) – marketwatch duke electric orlando


The Dow Jones Industrial Average on Monday finished in negative territory for a fourth straight session, marking its longest losing trend since early March, as Wall Street wrestled with rising government bond yields. The Dow closed off about 14 points, or less than 0.1%, at 24,448. The four declines in a row represent the lengthiest downdraft for the blue-chip gauge since a similar period ended March 2, according to FactSet data. The S&P 500 index , meanwhile, closed virtually unchanged at 2,670, while the Nasdaq Composite Index finished the session down 0.3% at 7,128. The advance in U.S. interest rates, notably the 10-year Treasury note yield to near 3% , has come as traders increasingly start to price in four interest-rate hikes in 2018 from the Federal Reserve, rather than the three signaled by policy makers. Higher rates translate into increased borrowing costs for U.S. corporations and the level at around 3% is viewed as a threshold at which bonds can compete with investor appetite for other investments, like stocks, market participants said. In corporate news, shares of Box Inc. surged by nearly 11% after Venture capitalist, Chamath Palihapitiya, said shares of the cloud-storage company had room to run higher and that the company would benefit from advancements in artificial intelligence. Separately, shares of Alcoa Corp slumped 12% as the Treasury Department said it has extended its wind-down period for dealing with Russian company Rusal, a major industrial metals mining company.

Shares of Box Inc. jumped the most since making its debut as a publicly traded company after Social Capital’s Chamath Palihapitiya made a bullish call on the company. Palihapitiya, speaking at the 23rd annual Sohn Investment Conference, makes the argument that Box shares are incredibly cheap, with low churn and a big margin of safety. But specifically, he said the company could profit the most among its peers from growth in artificial intelligence, setting the cloud-storage outfit, run by CEO Aaron Levie, up to be "extremely valuable." The entrepreneur and former Facebook Inc. executive sees the possibility for Box to increase by 10 times over the next decade. Most recently, shares of Box were trading nearly 10% higher (and were up about 14% at its intraday peak, which would represent its largest daily gain since it went public in late January of 2015). The company’s shares have gained 8.3% so far in 2018, compared with the S&P 500 index which is flat year to date, and the Dow Jones Industrial Average , which is down about 1% so far this year.

Box Inc. shares declined more than 10% in late trading Wednesday after the enterprise-software company’s earnings report included a forecast that projects slower growth than expected. Box reported a fourth-quarter loss of $32.7 million, or 24 cents a share, on sales of $136.7 million, up from $109.9 million a year ago. After adjustments for stock-based compensation and other effects, the company claimed a loss of 6 cents a share. Analysts on average expected adjusted losses of 8 cents a share on sales of $136.6 million, according to FactSet. While Box beat expectations on fourth-quarter results, its forecast for first-quarter and fiscal-year revenue came in below estimates. Box said it expects revenue of $139 million to $140 million in the first quarter and $602 million to $608 million for the full year. Analysts had been projecting first-quarter revenue of $144.3 million and full-year sales of $625.6 million on average, according to FactSet. Box acknowledged that adoption of new revenue-recognition rules was part of the reason for the forecast; for example, Box said it would have projected full-year revenue of $613 million to $619 million under the old standards. Box shares declined more than 10% in after-hours trading following the release of the report, after closing at an all-time high for the third consecutive session.