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Box Reports Weak Q3 Results, Joins Yext, Asana And Other Big Stocks Moving Lower In Wednesday's Pre-Market Session

Published 06/12/2023, 10:35
Updated 06/12/2023, 11:40
© Reuters. Box Reports Weak Q3 Results, Joins Yext, Asana And Other Big Stocks Moving Lower In Wednesday's Pre-Market Session
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Benzinga - by Lisa Levin, Benzinga Editor.

U.S. stock futures traded higher this morning, with the Dow Jones futures gaining round 0.1% on Wednesday.

Shares of Box, Inc. (NYSE: BOX) fell sharply in pre-market trading after the company reported worse-than-expected third-quarter financial results and issued FY24 guidance below estimates.

The company said revenue came in at $251.54 million, which missed estimates of $263.69 million. Earnings came in at 36 cents per share, down from estimates of 38 cents per share, according to Benzinga Pro.

Box expects full-year revenue to be between $1.037 billion to $1.039 billion versus estimates of $1.04 billion. The company sees full-year earnings from $1.42 to $1.43 per share versus estimates of $1.49 per share.

Box shares declined 13% to $23.22 in pre-market trading.

Here are some big stocks recording losses in today’s pre-market trading session.

  • Yext, Inc. (NYSE: YEXT) shares tumbled 15.6% to $5.92 in pre-market trading after the company reported third-quarter financial results and issued guidance.
  • Asana, Inc. (NYSE: ASAN) shares dipped 13.4% to $20.19 in pre-market trading. Asana posted upbeat results for its third quarter and issued a strong forecast for FY24.
  • Incannex Healthcare Inc. (NASDAQ: IXHL) fell 8.5% to $7.99 in pre-market trading after jumping 22% on Tuesday.
  • British American Tobacco p.l.c. (NYSE: BTI) shares declined 8% to $29.03 in pre-market trading. The company said it would take an impairment charge of about 25 billion pound ($31.50 billion) on U.S. cigarette brands.
  • Fluence Energy, Inc. (NASDAQ: FLNC) shares declined 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. (NASDAQ: PLUG) shares fell 4.3% to $4.06 in pre-market trading after declining around 12% on Tuesday.
  • MongoDB, Inc. (NASDAQ: MDB) shares declined 3.6% to $417.90 in pre-market trading after the company reported third-quarter financial results.

Now Read This: Investor Optimism Edges Lower As Dow Falls For Second Day

Don’t forget to check out our premarket coverage here

© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Read the original article on Benzinga

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