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Pre-market Movers For Apr 2 (AVP, THRX, KERX, AEZS, AVII, GRPN, SINA, ESRX, MHS)

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Gainers:

Avon Products, Inc. (AVP: Quote) is gaining 19 percent to $23.08. Coty Inc. has submitted a non-binding proposal to acquire the company for $23.25 per share in cash. In response, Avon rejected Coty's offer.

Decliners:

Keryx Biopharmaceuticals Inc. (KERX: Quote) is plunging 59 percent to $2.04. AEterna Zentaris Inc. (AEZS: Quote) is plunging 55 percent to $0.95. The companies announced that the Phase 3 X-PECT clinical trial evaluating perifosine (KRX-0401) + capecitabine (Xeloda) in patients with refractory advanced colorectal cancer did not meet the primary endpoint of improving overall survival versus capecitabine + placebo. The trial involving 468 patients in 65 sites in the U.S was conducted by AEterna Zentaris' North American licensee partner, Keryx.

AVI BioPharma, Inc. (AVII: Quote) is falling 34 percent to $1.02. The company announed that treatment with its eteplirsen met the primary efficacy endpoint in a randomized, double-blind, placebo-controlled Phase IIb study in boys with Duchenne muscular dystrophy.

Groupon, Inc. (GRPN: Quote) is falling 11 percent to $16.31. The company announced a revision to its reported results for its fourth quarter and year ended December 31, 2011, primarily related to an increase to its refund reserve accrual to reflect a shift in fourth quarter deal mix and higher price point offers, which have higher refund rates.

SINA Corp. (SINA: Quote) is falling 6 percent to $61.00 amidst the news that China has launched censorship move in an effort to beat back the rumors following the ouster of Bo Xilai.

Trading halt:

Trading in shares of Express Scripts (ESRX: Quote) and Medco Health Solutions (MHS: Quote) were halted. Express Scripts completed its previously announced $29.1 billion acquisition of Medco today.

Trading in shares of ChinaCast Education Corp. (CAST: Quote) was halted. Ron Chan, ex Chairman and CEO of the company has resigned from the board. Ron Chan attributed his decision to serious disagreements he had with the group of directors who recently has come to control the board and the company. Additionally, the company said it received NASDAQ notification letter regarding delayed Form 10-K filing.

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by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
With traders taking a breather following the recent upward move by the markets, stocks are turning in a lackluster performance during trading on Wednesday. After moving lower at the open, the major averages have moved back to the upside, but buying interest remains subdued. Setting the stage for a highly competitive general election campaign, former state Attorney General Dan Sullivan emerged victorious in Alaska's Republican Senate primary on Tuesday. Sullivan will face off against Democratic Sen. Mark Begich, D-Ak., in November in a potentially important race to Republican efforts to retake control of the Senate. At least 11 people were killed in overnight Israeli air strikes on Gaza. The wife and child of Mohammed Deif, who is on top of Israel's most wanted list, were reportedly killed in the attack. Deif, who lost an eye and limbs in earlier assassination attempts, is the head of Hamas' armed wing - the Qassam Brigades. Hamas leader Mousa Abu Marzouk told media on Wednesday that Israel had targeted Deif
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