Morning Market Movers

Phoenix Companies 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 PVSW surged 24.58% to $8.16. Actian offered $139 million to buy Pervasive Software. Reading International RDIB climbed 19.79% to $5.99. Reading's trailing-twelve-month revenue is $250.18 million. Tranzyme TZYM surged 16.98% to $4.96. Canaccord upgraded Tranzyme from “hold” to “buy.”