HomeMarket NewsSmall CapsBox Inc. Fumbles Earnings Ball, Sending Its Stock into a Tailspin with...

Box Inc. Fumbles Earnings Ball, Sending Its Stock into a Tailspin with Other Big Stocks Following Suit

Actionable Trade Ideas

always free

box logo

Rise and shine! Today in Wall Street, the Dow Jones futures are kicking off the day with a slight 0.1% uptick early in the morning hours.

Well, well, well, it seems like Box, Inc. BOX has tripped over its own shoelaces in pre-market trading, tumbling after the company fumbled its third-quarter financial results and dished out a disappointing FY24 guidance.

The company’s revenue wasn’t exactly hitting the jackpot, at just $251.54 million, trailing behind the expected $263.69 million mark. Even its earnings showed up a little underdressed, at 36 cents per share instead of the expected 38 cents per share, according to Benzinga Pro.

Now, for its full-year forecast, Box expects to haul in revenue between $1.037 billion to $1.039 billion, although Wall Street was craving a figure closer to $1.04 billion. And as for earnings per share, the company plans to rake in between $1.42 to $1.43, which is way lower than the market’s appetite for $1.49 per share.

So, it’s no surprise that Box shares got punched in the gut, plummeting by 13% to a measly $23.22 in pre-market trading.

But wait, there’s more! Let’s check out the other members of today’s losers club in the pre-market trading session.

  • Yext, Inc. YEXT shares took a nosedive of 15.6% to $5.92 in pre-market trading after the company rolled out its equally unsettling third-quarter financial results and subpar guidance.
  • Asana, Inc. ASAN shares stumbled by 13.4% to $20.19 in pre-market trading. Although Asana had some pretty good news to share about its third quarter, its forecast for FY24 fell short of expectations.
  • Incannex Healthcare Inc. IXHL fell by 8.5% to $7.99 in pre-market trading after a triumphant 22% leap on Tuesday.
  • British American Tobacco p.l.c. BTI shares went downhill by 8% to $29.03 in pre-market trading. The company revealed it’s taking an impairment charge of about 25 billion pounds ($31.50 billion) on its U.S. cigarette brands.
  • Fluence Energy, Inc. FLNC shares took a dip of 6% to $24.20 in pre-market trading after the company announced a secondary offering of Class A common stock by existing controlling stockholders.
  • Plug Power Inc. PLUG shares fell by 4.3% to $4.06 in pre-market trading after a 12% tumble on Tuesday.
  • MongoDB, Inc. MDB shares slid by 3.6% to $417.90 in pre-market trading after the company unveiled its third-quarter financial results.


In other news: Investor Optimism Edges Lower As Dow Falls For Second Day

Don’t forget to check out our premarket coverage here

Swing Trading Ideas and Market Commentary

Need some new swing ideas? Get free weekly swing ideas and market commentary from Jonathan Bernstein here: Swing Trading.

Explore More

Weekly In-Depth Market Analysis and Actionable Trade Ideas

Get institutional-level analysis and trade ideas to take your trading to the next level, sign up for free and become apart of the community.