Morning Market Movers

Orexigen Therapeutics Inc OREX shares advanced 19.43% to $3.38 at 9:49 am. OREX is scheduled to announce a regulatory update on Contrave NDA on June 3, 2011 before the opening bell. Telvent GIT SA TLVT climbed 15.36% to $39.74. TLVT agreed to be bought for $2 billion by Schneider Electric SA SBGSY. Lizhan Environmental Corporation LZEN shares surged 15.00% to $2.00. LZEN reported a 48% y/y decline in its Q2 net sales. Pacific Mercantile Bancorp PMBC jumped 9.92% to $3.99. PMBC's trailing-twelve-month revenue is $32.69 million. Read more from Benzinga's Markets.