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Most Active Buzz: Investors Bancorp Inc. (NASDAQ:ISBC), Arris Group, Inc. (NASDAQ:ARRS), Live Nation Entertainment, Inc. (NYSE:LYV)

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Investors Bancorp Inc. (NASDAQ:ISBC)’s shares increased 0.45% to $11.05. Investors Bancorp, Inc. (ISBC), an existing Delaware corporation, and New Investors Bancorp, Inc. (“New Investors Bancorp”), the proposed holding company for Investors Bank, on May 7 announced the completion of its conversion from the mutual holding company structure and related public offering.  Investors Bank is now 100% owned by New Investors Bancorp and New Investors Bancorp is 100% owned by public stockholders. New Investors Bancorp sold a total of 219,580,695 shares of common stock at a purchase price of $10.00 per share in the offering.  In connection with the completion of the conversion and stock offering, New Investors Bancorp changed its corporate name to Investors Bancorp, Inc.

There Is One Better Stock Than ISBC? Let’s Find Out Here

Arris Group, Inc. (NASDAQ:ARRS)’s shares jumped 0.24% to $33.50. The company on June 2 announced that on May 29, 2014, it completed an optional principal prepayment of its senior secured credit facilities in the amount of $150 million. As a result of the prepayment, the Company’s total outstanding indebtedness at face value as of May 31, 2014 was $1,589 million, comprised of $1,045 million under the Term Loan A and $544 million under the Term Loan B. Since acquiring the Motorola Home business from Google on April 17, 2013, ARRIS has successfully deleveraged its balance sheet through the redemption of convertible notes and through mandatory and optional payments of its senior secured credit facilities totaling $568 million.

Why Should Investors Switch Over To ARRS From BNBI? Grab A Free Report Here

Live Nation Entertainment, Inc. (NYSE:LYV)’s shares dropped 1.55% and closed at $23.57. Live Nation’s House of Blues Entertainment division (HOBE) and District N9NE on June 9 announced an exclusive, long-term booking agreement for District N9NE, a 600-1,400 capacity venue located in the Callowhill neighborhood of Philadelphia, PA.  The booking agreement is scheduled to kick off this month with TicketWeb as the exclusive ticket provider for the venue.

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Business

Top 3 Gainers: Zynga (NASDAQ:ZNGA), Eros International (NYSE:EROS), Borqs Technologies’ (BRQS)

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Zynga (NASDAQ:ZNGA) is up 2.5% after Benchmark reiterated its Buy rating in a look-ahead at Q2 earnings. The firm’s expecting a beat and solid guidance for Q3, and it’s raising its guidance for the fiscal year.

Tailwinds from the pandemic won’t dissipate easily, Benchmark suggests, and the videogame maker’s acquisition of Peak (and with it new “forever franchises” in Toon Blast and Toy Blast) will drive audience, bookings, margins and free cash flow, it says. The firm has an $11 price target, now implying 14% upside.

Eros International (NYSE:EROS) is up 5.8% today, making up the last week’s lost ground, after news that its streaming service Eros Now is partnering with Sony India (SNE +2.3%).

That will mean Eros Now’s app is pre-installed on selected Sony smart televisions in India, along with availability on a large base of existing models (Bravia E series and newer).

The country over the past year has seen a 25% growth in demand for smart TVs, fueled by overall industry growth of 15%, to a record 15M units/year.

Borqs Technologies’ (BRQS) personal safety tracker sees strong market with increased orders from the electronics retail chain in the US.

The boost in product demand comes ahead coronavirus pandemic that provides company to expect delivery of 250K units this year. It reflects over 3x the volume delivered in 2019, the year of its launch.

Borqs’ mobile personal safety devices designed particularly for senior citizens come with panic button, location tracking, and fall detection.

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Biotech

Biotech movers: Pfizer Inc. (PFE), Celgene Corporation (CELG)

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Pfizer Inc. (PFE) said on Thursday it received a request for documents as part of a U.S. investigation related to quality issues involving the manufacture of auto-injectors at its Meridian Medical Technologies site.

Pfizer, in a regulatory filing, said it would be producing records in response to the civil investigative demand from the U.S. Attorney’s office for the Southern District of New York.

Why ASDN Could Massively Outperform PFE in 2019

Meridian, a unit of Pfizer that manufactures EpiPen injectors used to deliver an emergency allergy antidote, has been hit by a series of manufacturing problems in recent years. Mylan NV, which markets EpiPens, has recalled tens of thousands of the devices after complaints that some had failed to activate.

Bristol-Myers Squibb has been meeting with shareholders in Boston and New York over the last two weeks to try to salvage its $74 billion purchase of cancer drugmaker Celgene Corporation (CELG), the biggest acquisition announced so far this year.

Why Investors Are Calling ASDN the CELG of the Sky!

The deal, announced in January, was hard sell to Bristol shareholders from the start. The acquisition adds about $32 billion in fresh debt to Bristol’s balance sheet while assuming $20 billion in Celgene’s debt, the companies said at the time. After factoring in debt, the acquisition was the largest health-care deal on record, according to data compiled by Refinitiv.

Now, hedge funds Wellington Management and Starboard Value say the deal doesn’t sit well with them. Bristol has sent executives to New York to meet with institutional investors several times over the last two weeks and met with investors in Boston on Wednesday and Thursday, according to a person who briefed on the meetings.

Bristol-Myers declined to comment.

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Biotech

Big Losers: Corbus Pharmaceuticals Holdings, Inc. (CRBP), Petróleo Brasileiro S.A. – Petrobras (PBR)

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Corbus Pharmaceuticals Holdings, Inc. (CRBP)’s shares slumped as much as 16% to $6.94 on huge volume. The stock has been showing intense sell off suddenly after a bearish article on seekingalph.com by Alpha Exposure.

The article stated that Corbus has ties to investors convicted of or alleged to have committed securities fraud. We believe lenabasum has failed its major trials in SSc and CF. Lenabasum was also denied Breakthrough Therapy Designation in SSc. We believe lenabasum will fail in its pivotal SSc and Phase 2b CF trials. We are short Corbus with a price target of $0.50.

Wow the future of Autonomous flight is finally here with the launch of ASDN passenger drone Elroy

Petróleo Brasileiro S.A. – Petrobras (PBR) is expanding its ambitious divestment program and has “bold” plans for sales, the Brazilian state-run oil company’s chief executive said after the firm posted its first annual profit in five years.

On a conference call with analysts to discuss fourth-quarter results, CEO Roberto Castello Branco said selling non-core assets will be key to deleveraging.

Petrobras, as the company is known, can reduce its ratio of net debt to earnings before interest, taxes, depreciation and amortization, or EBITDA, to 1.5 or even to 1, he added.

The University of Chicago-educated CEO, who took the reins in early January, has long been vocal about the need to slim down the sprawling firm and focus on core activities such as exploration and production. Thursday’s comments were some of his most assertive on the matter.

Why Investors Are Calling ASDN the TPC of the Sky!

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