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


Avon Products, Inc. (AVP) 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.


Keryx Biopharmaceuticals Inc. (KERX) is plunging 59 percent to $2.04. AEterna Zentaris Inc. (AEZS) 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) 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) 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) 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) and Medco Health Solutions (MHS) were halted. Express Scripts completed its previously announced $29.1 billion acquisition of Medco today.

Trading in shares of ChinaCast Education Corp. (CAST) 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.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
Shares of Orange SA (ORAN) were gaining around 5 percent in the morning trading in Paris after the French telecom major reported higher restated EBITDA, a key earnings metric, in its third quarter with slightly higher sales. This was despite weakness in its domestic market. Further, the company maintained its fiscal 2016 forecast of restated EBITDA to be greater than last year, on a comparable bas Swiss drug giant Novartis AG reported Tuesday higher net profit in its third quarter, while sales were weak due to generic competition and pricing. Core earnings per share topped analysts' estimates, but sales missed their view. For fiscal 2016, the company continues to expect Core operating income to be broadly in line or decline low-single digit, and net sales to be broadly in line.. Social media site Twitter Inc., which is facing an uncertain future, is planning to cut around 8 percent of its total workforce, Bloomberg reported Monday citing people familiar with the matter. The company, which is trying cost control amid slowing sales growth, may announce the job cut of about 300 people as soon as this week.
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