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Box Inc. shares rallied in the extended session Wednesday after the cloud-storage company’s quarterly results and outlook topped Wall Street expectations. Box shares surged 12% to $14 after hours. The company reported an adjusted fourth-quarter loss of 26 cents a share on revenue of $85 million. Analysts surveyed by FactSet had forecast a loss of 29 cents a share on revenue of $81.7 million. Box forecast a loss of 23 cents to 24 cents a share on revenue of $88 million to $89 million for the first quarter, and an adjusted loss of 83 cents to 85 cents a share on revenue of $390 million to $394 million for the year. Analysts expect a loss of 24 cents on revenue of $86.9 million for the first quarter, and a loss of 88 cents on revenue of $392 million for the year.

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Shares of Square Inc. rose in Wednesday’s extended session after the payment processing company posted its first quarterly results following its initial public offering in November. Square reported its fourth-quarter loss widened to $80.5 million, or 34 cents a share, from a loss of $37.1 million, or 25 cents a share, a year earlier. Revenue increased to $374.4 million from $250.9 million while gross payment volume rose 47% year over year to $10.2 billion. Analysts surveyed by FactSet had forecast a loss of 14 cents a share on revenue of $322 million. Shares extended gains, climbing 5% in the late trade after closing the regular session up 4.8% to $12.03.

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Shares of Square Inc. rose in Wednesday’s extended session after the payment processing company posted its first quarterly results following its initial public offering in November. Square reported its fourth-quarter loss widened to $80.5 million, or 34 cents a share, from a loss of $37.1 million, or 25 cents a share, a year earlier. Revenue increased to $374.4 million from $250.9 million while gross payment volume rose 47% year over year to $10.2 billion. Analysts surveyed by FactSet had forecast a loss of 14 cents a share on revenue of $322 million. Shares extended gains, climbing 5% in the late trade after closing the regular session up 4.8% to $12.03.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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Oil futures settled higher on Wednesday, at their highest level since early December, buoyed by expectations that major producers this month will make a move to stabilize their crude output levels and stem the rise in the glut of oil inventories. U.S. government data showed that crude-oil stockpiles grew by a more-than-expected 3.9 million barrels last week. April West Texas Intermediate crude rose $1.79, or 4.9%, to settle at $38.29 a barrel on the New York Mercantile Exchange.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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Biolight Life Sciences , a global ophthalmology company, said Wednesday that it is raising the number of common shares in its initial public offering to 2.1 million from 1.8 million shares. The company said it is also offering warrants to buy up to 2.1 million shares. The company has applied to list the share on the Nasdaq under the symbol “BOLT.” The company’s shares are already trading on the Tel Aviv Stock Exchange.

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Oil futures extended their gains on Wednesday after the U.S. Energy Information Administration reported a 3.9 million-barrel rise in crude-oil supplies for the week ended March 4. That was less the 4.4 million-barrel increase reported by the American Petroleum Institute, and a little above the rise of 3 million barrels expected by analysts polled by Platts. Gasoline supplies fell by 4.5 million barrels, while distillate stockpiles declined 1.1 million barrels last week, according to the EIA. April crude was at $37.66 a barrel on the New York Mercantile Exchange, up $1.16, or 3.2%. Prices traded at $37.19 before the data.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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From:: Stock Market News