While the U.S. gave Huawei a 90-day reprieve, allowing American businesses to keep selling specific products to the Chinese firm, it also added more affiliates of the...Technologyread more
The attacks come after state and local ransomware attacks in New York, Louisiana, Maryland and Florida resulted in the loss of significant sums.Technologyread more
China's pursuit of the Middle East may spur growth in the Islamic finance sector.World Economyread more
Twitter and Facebook have suspended accounts believed to be tied to a state-backed disinformation campaign originating from inside China.Technologyread more
United States Steel Corp will temporarily lay off hundreds of workers at its Great Lakes facility in Michigan in coming weeks, according to a filing the steelmaker made with...US Marketsread more
The report comes as Trump in recent days has lashed out over media reports about growing recession fears.Politicsread more
Beijing will lower borrowing costs for companies, but that may not boost the economy as much as some hope.China Economyread more
Stocks are bouncing higher but could be trapped in a range longer term, until there's a resolution of the trade wars.Market Insiderread more
Stocks in Asia mostly traded higher Tuesday afternoon as minutes from the Reserve Bank of Australia's July meeting were released. The People's Bank of China also published its...Asia Marketsread more
Powell will have the opportunity if not to walk back the "midcycle" assessment then to at least provide some further explanation about what it means.Economyread more
Apple has spent more than $6 billion on original TV shows and movies for its forthcoming Apple TV+ service, according to a Financial Times report on Monday.Technologyread more
Shares of Box plummeted as much as 23 percent in after hours trading after the company reported fourth quarter 2019 revenue that missed analyst expectations. The company also reported weak guidance for the upcoming quarter and full fiscal year.
Here are the numbers Box reported compared to Wall Street expectations:
Box expects revenue between $161 million and $162 million for its Q1 2020. That compares to analyst estimates of $166.2 million to $175 million estimated for the quarter, per Refinitiv.
Box's guidance for the full-year fiscal 2020 also fell below analyst expectations of $713.9 million to $749.9 million, per Refinitiv. For its full year 2020, the company said it's expecting revenue to fall between $700 million and $704 million.
In a statement in the earnings release, Box CEO Aaron Levie blamed weak billing results in part on longer sales cycles for some of its bigger deals.
Last week, Box competitor Dropbox also fell on disappointing guidance for its upcoming quarter. Shares of both cloud services are similarly priced, although Box has seen a larger increase in its stock price so far this year, rising 47.4 percent year to date as of Wednesday's close compared to Dropbox's 18.7 percent. But in an interview with CNBC last week, Dropbox CEO Drew Houston claimed his company was taking business from other competitors, including Box.