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After-hours buzz: INSY, LGF, TIME & more

Pedestrians walk near a Christmas tree in front of the New York Stock Exchange (NYSE) in New York.
Michael Nagle | Bloomberg | Getty Images
Pedestrians walk near a Christmas tree in front of the New York Stock Exchange (NYSE) in New York.

Check out which companies are making headlines after the bell on Thursday:

Insys Therapeutics shares fell more than 2 percent in extended trade after several of its former executives and managers were arrested and charged Thursday in a racketeering scheme. The indictment alleged that they led a nationwide conspiracy to bribe medical practitioners to unnecessarily prescribe a fentanyl-based pain medication and defraud health insurance. The former president and CEO of the company, as well as two former vice presidents, the former national director of sales and several former regional sales directors were named in the indictment.

Shares of Lionsgate Entertainment saw choppy trade after the bell following the company's closed acquisition of Starz on Thursday. The $4.4 billion deal integrates Starz's premium pay network of nearly 25 million subscribers, as well as its 16,000-title film and television library, its film business and streaming services. Lionsgate shareholders overwhelmingly ratified the deal, as the company announced it will operate Starz as a wholly owned subsidiary,

Time, Inc. shares were down slightly in extended trade after reports surfaced that it had hired Morgan Stanley and Bank of America to help field takeover or partnership interest. The magazine publisher received overtures from a group of media investors, including Edgar Bronfan, Jr. Time told CNBC that as a matter of policy, it "does not comment on speculation about such matters."

Bristol-Myers Squibb shares were down slightly in extended trade after the company raised its quarterly dividend by 1 cent to 39 cents a share. The increase begins in the first quarter of 2017, and will be payable on February 1. The board of directors also announced a quarterly dividend of 50 cents per share on the $2 convertible preferred stock, payable March 1.