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

Gainers:

eResearch Technology, Inc. (ERT) 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) 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) 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) 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) 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.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
French car maker Renault SA reported Friday higher profit in its fiscal 2015, with strong growth in automotive profit and revenues. The company announced higher dividend. Looking ahead, for fiscal 2016, Renault expects to increase group revenues at constant exchange rates and improve group operating margin. Shares of Rolls-Royce Holdings Plc were gaining around 13 percent in the morning trading in London after the engine maker reported more-than doubled profit in its fiscal year 2015, with lower one-time items. Underlying earnings were hurt by weakness in Marine markets. Further, the company halved its dividends, and still expects lower revenues next year. German steel giant ThyssenKrupp AG reported a loss in its first quarter, compared to last year's profit as sales and orders were hurt by sharp deterioration in materials businesses. The company said its overall performance in the first quarter was within its full-year forecast corridor. Looking ahead, the company continues to expect higher net income and flat sales for fiscal 2016.
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