Release

Today’s Research Reports on Stocks to Watch: GrubHub and Orexigen Therapeutics

Strong corporate earnings outweighed losses by the energy sector Thursday as U.S. crude futures slipped on growing output concerns. The Dow Jones Industrial Average gained 0.03 percent to close at 20,981.33, while the S&P 500 Index increased 0.06 percent to close at 2,388.77. A strong performance by the technology sector pushed the Nasdaq to a new intraday high of 6,050.70 in trading Thursday before settling at a new record close of 6,048.94, an increase of 0.39 percent. Overall profits from the S&P 500 components are expected to grow by 12.4 in the first quarter of 2017, according to data from Thomson Reuters I/B/E/S.

“At the end of the day, the market is always about earnings and growth,” said JJ Kinahan, chief market strategist at TD Ameritrade, told The Wall Street Journal. “If your earnings are good and the economy is performing, that makes up for a lot of other things.”

RDI Initiates Coverage on:

GrubHub Inc.
https://ub.rdinvesting.com/news/?ticker=GRUB

Orexigen Therapeutics, Inc.
https://ub.rdinvesting.com/news/?ticker=OREX

GrubHub’s shares surged 22.56 percent to close at $42.92 a share on Thursday. The stock traded between $40.35 and $43.14 on volume of 13.36 million shares traded. The company reported revenues were $156.1 million for the first quarter of 2017, an increase of 39 percent when compared to revenues of $112.2 a year ago. Analysts’ expectations called for revenues of $153 million, according to Thomson Reuters. Net income was $17.7 million, or $0.20 per diluted share, in the first quarter of 2017, compared to net income of $9.9 million, or $0.12 per diluted share, in the first quarter of 2016. Shares of GrubHub have gained approximately 14.09 percent year-to-date.

"More new diners tried Grubhub than ever before in the first quarter. We are seeing clear signs of success from a more diverse restaurant base, broader marketing reach, and continuous improvement of our product," said Matt Maloney, Grubhub CEO.

Access RDI’s GrubHub Research Report at:
https://ub.rdinvesting.com/news/?ticker=GRUB

Orexigen Therapeutics’ shares spiked 10.74 percent to close at $3.61 a share on Thursday. The stock traded between $3.23 and $3.81 on volume of 418,554 shares traded. The company is scheduled to report results for the first quarter of 2017 and provide a business update after market close on Tuesday, May 9th. On April 25th, Orexigen announced a New Drug Submission for the marketing approval of Contrave in Canada. Contrave is the company’s first product and was approved by the FDA in the United States in September 2014. Shares of Orexigen Therapeutics have gained approximately 107.47 percent year-to-date.

"We are excited about achieving this important step toward making Contrave available for patients in Canada," said Dr. Thomas Cannell, Chief Operating Officer and President of Global Commercial Products of Orexigen. "We look forward to leveraging our strong alliance management capabilities to support Valeant’s commercialization in the Canadian market."

Access RDI’s Orexigen Therapeutics Research Report at:
https://ub.rdinvesting.com/news/?ticker=OREX

Our Actionable Research on GrubHub Inc. (NYSE:GRUB) and Orexigen Therapeutics, Inc. (NASDAQ:OREX) can be downloaded free of charge at Research Driven Investing.

Research Driven Investing

We are committed to providing relevant and actionable information for the self-directed investor. Our research is reputed for being a leader in trusted, in-depth analysis vital for informed strategic trading decisions. The nimble investor can leverage our analysis and collective expertise to execute a disciplined approach to stock selection.

RDInvesting has not been compensated; directly or indirectly; for producing or publishing this document.

Disclaimer: This article is written by an independent contributor of RDInvesting.com and reviewed by Hemal K. Gandhi, CFA® charter holder. RDInvesting.com is neither a registered broker dealer nor a registered investment advisor. For more information please read our full disclaimer at www.rdinvesting.com/disclaimer.

CONTACT

For any questions, inquiries, or comments reach out to us directly at:

Address:

Research Driven Investing, Unit #901 511 Avenue of the Americas, New York, NY, 10011

Email:

[email protected]

CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.