Beacon Equity Research announces the release of Trade Alerts covering market movers: Blockbuster Inc. (NYSE: BBI), Savient Pharmaceuticals Inc. (Nasdaq: SVNT), Siemens AG (NYSE: SI), Gilead Sciences Inc. (Nasdaq: GILD), Charming Shoppes Inc. (Nasdaq: CHRS) and Research In Motion Ltd. (Nasdaq: RIMM).
In the Trade Alert, the author highlights Blockbuster’s announced amendment of revolving and term loan facilities:
“Blockbuster Inc. (BBI) shares gained 6.02% midday today, trading at 88 cents. Blockbuster, together with its subsidiaries, operates and franchises entertainment-related stores. Easing liquidity concerns amid tough credit climate, Blockbuster recently announced it has completed the amendment of the company's revolving and term loan facility. … According to the press release, the amendment includes commitments from lenders for a $250 million revolving loan refinancing with a maturity date on September 30, 2010. … The company said lenders including JPMorgan have also agreed to waive any default that could result if auditors attached a going concern classification to their report on the company's books for the recently completed fiscal year.”
The Trade Alert author also featured Savient Pharmaceuticals’ definitive agreements with select existing and new institutional investors:
“Savient Pharmaceuticals Inc. (SVNT) shares dropped 6.83% to $4.94 by noon today. Savient Pharmaceuticals, a specialty biopharmaceutical company, focuses on developing, manufacturing and marketing pharmaceutical products that target unmet medical needs. … In a move to raise $31 million, the company recently announced it has entered into definitive agreements with select existing and new institutional investors to sell 5.93 million units. … The company investors agreed to purchase the units at $5.23 per unit, each of which consists of one share of common stock and one warrant to buy 85 cents shares.”
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Source: BeaconEquity.com
Beacon Equity Research
Jeff Bishop, (469)-252-3505
press@beaconequity.com
