Morning Market Movers
Phoenix Companies (NYSE: PNX) shares advanced 1,925.50% to $30.18 at 9:45 am. Phoenix Companies reported that its 1-for-20 reverse stock split of its common stock became effective following market close on August 10, 2012.
Pervasive Software (NASDAQ: PVSW) surged 24.58% to $8.16. Actian offered $139 million to buy Pervasive Software.
Reading International (NASDAQ: RDIB) climbed 19.79% to $5.99. Reading's trailing-twelve-month revenue is $250.18 million.
Tranzyme (NASDAQ: TZYM) surged 16.98% to $4.96. Canaccord upgraded Tranzyme from “hold” to “buy.”
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