Adolor, Banner, Fannie Mae, Kaman, Lincare, Walgreen: U.S. Equity Movers

Shares of the following companies had unusual moves in U.S. trading. Stock symbols are in parentheses, and prices are as of 4 p.m. in New York.

Adolor Corp. (ADLR US) fell 8.7 percent to $1.37, the lowest price since Dec. 16. The biopharmaceutical company said two drugs it’s developing with Pfizer Inc. (PFE US) were no more effective than a placebo at controlling pain from osteoarthritis.

Amylin Pharmaceuticals Inc. (AMLN US) jumped the most in the Russell 1000 Index, rallying 20 percent to $19.80. Roche Holding AG (ROG VX) delayed development of the experimental diabetes drug taspoglutide, which competes with Amylin’s Byetta. JPMorgan Chase & Co. upgraded Amylin to “overweight” from “neutral.”

Alkermes Inc. (ALKS US), which is developing a once-weekly version of the Type 2 diabetes drug Byetta with Amylin, climbed 9.4 percent to $12.65.

Banner Corp. (BANR US) dropped 24 percent, the most since Jan. 29, to $2.70. The Walla Walla, Washington-based bank holding company is offering $150 million of shares, according to a regulatory filing.

Covanta Holding Corp. (CVA US) jumped 11 percent, the most since November 2008, to $18.62. The developer of waste-to-energy plants declared a special cash dividend of $1.50 per share and said its board authorized a buyback of as much as $150 million of stock.

Freddie Mac (FRE US) fell 22 percent to 40 cents and Fannie Mae (FNM US) dropped 18 percent to 35 cents. Federal Deposit Insurance Corp. Chairman Sheila Bair said an overhaul of the mortgage firms 80 percent owned by the federal government “should rise to the top of the agenda” as soon as Congress finishes its rewrite of financial-industry rules.

General Maritime Corp. (GMR US) fell 4.4 percent to $6.76, the lowest price since June 8. The oil tanker owner said yesterday it would price its offering of 30.6 million shares at $6.75 a share.

HCP Inc. (HCP US) fell the most in the Standard & Poor’s 500 Index, dropping 4.8 percent to $32.72. The health-care real estate investment trust said it priced 13.5 million shares at $33 each, boosting the offering from previously announced 12 million shares.

Kaman Corp. (KAMN US) lost 5 percent, the most since May 20, to $23.53. The Connecticut-based aerospace company cut its forecast because of shipping delays. Second-quarter profit will be 20 cents a share at most, Kaman said. That trailed the 39- cent average estimate from analysts in a Bloomberg survey.

Lincare Holdings Inc. (LNCR US) decreased 5.5 percent, the most since May 5, to $30.50. The provider of oxygen services for patients at home was cut to “hold” from “buy” at Jefferies & Co. Inc.

Motricity Inc. (MOTR US) fell 7.4 percent to $9.26 on its first day of trading. The company, which sells software to mobile-phone companies that lets users access the Internet, sold 5 million shares at $10 each in an initial public offering.

Smart Modular Technologies Inc. (SMOD US) gained 3.5 percent to $6.73, the lower price since May 13. The storage chipmaker forecast fourth-quarter sales of at least $200 million, beating the average analyst estimate of $186.4 million.

Walgreen Co. (WAG US) rose 2.8 percent, the most since Dec. 9, to $30.09. The company and CVS Caremark Corp. (CVS US), the largest U.S. drugstore chains, agreed to allow pharmacy-benefits customers to keep filling prescriptions at Walgreen’s locations, ending an 11-day dispute. CVS advanced 1.9 percent to $32.43.

Their rivals declined. Express Scripts Inc. (ESRX US) fell 1.4 percent to $52.02. Medco Health Solutions Inc. (MHS US) slipped 2.4 percent to $60.05.

Wimm-Bill-Dann Foods (WBD US) slumped 9.1 percent, the most since May 26, to $19.61. Russia’s largest dairy producer would be prepared to buy back Danone SA’s (BN FP) stake in the company if it became available, board member David Yakobashvili said.

To contact the reporter on this story: Kelly Bit in New York at kbit@bloomberg.net

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