Radar Stocks to Watch: Oracle Beats, Adobe Surprises, and Orexigen Nearly Doubles
Shares of Oracle (NASDAQ:ORCL) popped more than 1% in late trading as net income for the application software company rose to $1.84 billion (36 cents per share) vs. $1.35 billion (27 cents per share) in the same quarter a year earlier. This marks a rise of 36.1% from the year earlier quarter. “New software license sales grew 17%,” said Oracle President and CFO, Safra Catz. “This strong organic growth coupled with disciplined business management enabled yet another increase in our operating margin in Q1.” Microsoft (NASDAQ:MSFT) and Apple (NASDAQ:AAPL) also continued higher in late trading. Don’t Miss: Oracle Corporation Earnings Cheat Sheet: Profit Rises by Double-Figures for Fifth Consecutive Quarter.
Adobe Systems (NASDAQ:ADBE) is surging more than 6% higher despite net income falling to $195.1 million (39 cents per share) vs. $230.1 million (44 cents per share) a year earlier. Although net income fell, the company estimates sales will be $1.08 billion to $1.13 billion in the fourth quarter. This beats the average $1.07 billion estimate of analysts. Don’t Miss: Adobe Systems Incorporated Earnings Cheat Sheet: Higher Expenses Shrink Margins, Profit Declines.
Shares of Orexigen Therapeutics (NASDAQ:OREX) jumped over 80% in late market trading as the company decided to pursue approval again of its diet-drug Contrave. The diet-drug program was put on hold in June, after the FDA did not approve the drug in January.