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Pre-market Movers For April 10 (ERT, XRIT, SNE, VVUS, VPHM)

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Gainers:

eResearch Technology, Inc. (ERT: Quote) is rising more than 2 percent to $8.05 as it agreed to be acquired by affiliates of Genstar Capital LLC for $8.00 per share in cash in a transaction valued at around $400 million.

X-Rite, Inc (XRIT: Quote) is jumping 38 percent to $5.54. The company has signed a definitive merger agreement to be acquired by Danaher (DHR) for $5.55 per share in cash, or a total of approximately $625 million including the assumption of debt, net of cash.

Decliners:

Sony Corp. (SNE: Quote) is falling 8 percent to $18.45. The company has widened its 2012 net loss forecast, citing a tax charge. However, the company said it expects to return to positive operating results next year on foreign exchange impact.

VIVUS, Inc. (VVUS: Quote) is falling 1 percent to $22.69 based on the news that the FDA had extended Prescription Drug User Fee Act (PDUFA) date for review of the Qnexa New Drug Application from April 17 to July 17, 2012.

ViroPharma Inc. (VPHM: Quote) is falling 19 percent to $23. Watson Pharmaceuticals, Inc. (WPI) announced that it has received FDA approval for its Abbreviated New Drug Application for Vancomycin Hydrochloride Capsules, USP, 125 mg and 250 mg, generic versions of ViroPharma's VANCOCIN HCl capsules. In response, ViroPharma said it intends to file a complaint in the District Court seeking an injunction to set aside the FDA's approval of Vancocin generic versions.

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by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
After failing to sustain an initial upward move, stocks have shown a lack of direction in early trading on Thursday. The major averages are now lingering near the unchanged line after ending the previous session mixed. After reporting a modest drop in first-time claims for U.S. unemployment benefits in the previous week, the Labor Department released a report on Thursday showing that initial jobless claims unexpectedly fell to their lowest level in over eight years in the week ended July 19th. U.K. retail sales increased only marginally in June on weak clothing sales as stores delayed summer clearances due to good weather, data from the Office for National Statistics showed Thursday. However, retail sales during the second quarter hit a 10-year high, signaling strong support from consumer demand to overall economic growth.
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