US Market in the Green on Tuesday
- By Omar Venerio
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) 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)
Xerox Corp. (XRX)
Wynn Resorts Ltd. (WYNN)
United Rentals Inc. (URI)
Hasbro Inc. (HAS)
Losers
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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This article first appeared on GuruFocus.
