A shuffle in the C-Suite has produced renewed interest in this storage company. Shares are up sharply after an Apple exec was named COO.
NEW BULLISH Plays
BOX - Box Inc - Company Profile
Box, Inc. provides cloud content management platform that enables organizations of various sizes to manage their enterprise content from anywhere. The company's platform enables users to collaborate on content internally and with external parties, automate content-driven business processes, develop custom applications, and implement data protection, security, and compliance features. Box, Inc. offers its solution in 22 languages. It serves healthcare and life sciences, financial services, legal services, media and entertainment, retail, education, energy, and government industries primarily in the United States. The company was formerly known as Box.net, Inc. and changed its name to Box, Inc. in November 2011. Company description from FinViz.com.
Expected earnings August 30th.
Box is making a lot os smart moves lately. The recently partnered with Microsoft to jointly offer Box cloud management to Azure enterprise customers. Box will use Azure as a strategic public cloud platform and the companies have committed to share go-to-market investments, including initiatives to co-sell Box with Azure. Any time you can get Microsoft to partner with you, share the expenses and market your product, it was a good move.
Last week Box appointed Stephanie Carullo as the new COO. Carullo led U.S. sales for Apple's education business. Before that whe led the data center and virtualization architecture group at Cisco Systems. That is a good pedigree.
Shares have ticked up since both of those events last week and could be headed for a breakout over $19.50.
S&P futures are down -$3.50. DO NOT enter this position unless the market is positive. If the market opens down, wait for the S&P to turn positive before entering.
Buy BOX shares, currently $19.02, initial stop loss $17.85.
Alternate position: Buy Sept $20 call, currently 90 cents, no initial stop loss.
Entry disclaimer: To avoid an unfavorable entry point, we will not launch a new play if the stock gaps open more than $1.00 at the market open.
NEW BEARISH Plays
No New Bearish Plays