Orlando, FL 5/14/12 (StreetBeat) -- The following stocks were on the move in the U.S. premarket:
Avon Products Inc. (NYSE: AVP +5.10%) shares rose 6% on Monday. The company said its board will consider Coty Inc.’s revised acquisition bid. The board, working in conjunction with management and financial and legal advisers, expects to render a decision “within a week,” Avon said Sunday.
Chesapeake Energy Corp. (NYSE: CHK +5.67%) shares rallied more than 9% as the most actively traded stock ahead of Wall Street’s opening bell. The Wall Street Journal reported that activist investor Carl Icahn is looking to buy a significant stake in the embattled company, citing people familiar with the matter.
Ventrus Biosciences Inc. (Nasdaq: VTUS +18.98%) shares jumped nearly 10%. The company said Phase III trials of its Diltiazem drug showed significant improvements over placebos.
Shares of Simon Property Group Inc. (NYSE: SPG -0.46%) fell 6%.
InterOil Corp. shares (NYSE: IOC -17.74%) fell 5% in preopen trading. Dow Jones Newswires reported on Monday that a Papua New Guinea joint venture it is heading will be cancelled by the government after delays and design changes.
Baytex Energy Corp. (NYSE: BTE -3.46%) shares fell 6.3%. The pullback came in the wake of a company announcement that Tony Marino was leaving as chief executive. Analysts at TD Bank said the news came as a surprise and was unexpected.
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