Amylin, Check Point, SunTrust, Walmex: 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.
Achillion Pharmaceuticals Inc. (ACHN) decreased 19 percent, the most since May 2009, to $6.75. The drug developer was cut to market perform from market outperform at JMP Securities LLC, citing a release of data on the company’s ACH- 1625 treatment for chronic hepatitis C virus.
Amylin Pharmaceuticals Inc. (AMLN) climbed 14 percent to $26.06, the highest price since August 2008. The maker of diabetes drugs Bydureon and Byetta is seeking a buyer after rejecting an unsolicited bid from Bristol-Myers Squibb Co. (BMY) , two people with knowledge of the matter said.
Ardea Biosciences Inc. (RDEA) surged 52 percent, the most in the Russell 2000 Index, to $31.62. The company will be bought by AstraZeneca Plc (AZN) for $1.26 billion, or $32 a share, to add experimental gout and cancer treatment in an effort to replenish AstraZeneca’s drug pipeline.
Barnes & Noble Inc. (BKS) advanced 18 percent, the most since May 20 to $13.41. Jana Partners LLC, a hedge fund that has pushed for companies to sell off assets, disclosed a 12 percent stake in the largest U.S. bookstore chain.
Brinker International Inc. (EAT) climbed 11 percent to $30.88, the highest price since June 2007. The operator of the Chili’s restaurant chain reported fiscal third-quarter sales and profit that beat analysts’ estimates.
Central European Distribution Corp. (CEDC) jumped 14 percent, the most since Feb. 2, to $4.85. Russian Standard Corp. agreed to invest in the Polish vodka producer’s debt and shares.
Check Point Software Technologies Ltd. (CHKP) dropped 5.1 percent, the most since Sept. 22, to $60.76. The world’s second-largest maker of equipment designed to keep companies’ networks secure projected second-quarter sales of $324 million to $336 million. The midpoint of the forecast range missed the average analyst estimate of $334 million in a Bloomberg survey.
First Solar Inc. (FSLR) fell the most in the Standard & Poor’s 500 Index, sliding 6.8 percent to $19.25. The largest thin-film panel maker was cut to sell from hold by Maxim Group LLC.
Groupon Inc. (GRPN) rallied 6.5 percent to $11.85 for the third-biggest advance in the Russell 1000 Index. The largest provider of daily deals online was raised to overweight from equal-weight at Evercore Partners Inc., meaning the stock is expected to beat the average total return of companies the analyst covers over the next 12 months.
Hasbro Inc. (HAS) dropped 5.2 percent, the most since Nov. 9, to $34.04. The world’s second-biggest toymaker reported first-quarter earnings excluding some items of 4 cents a share, missing the average analyst estimate of 7 cents.
Kellogg Co. (K) fell 6.1 percent, the most since Nov. 3, to $50.70. The maker of Corn Flakes cereal and Keebler cookies reduced its full-year earnings forecast, citing weaker-than- expected results in the first quarter.
Keryx Biopharmaceuticals Inc. (KERX) surged 29 percent, the most since March 5, to $1.75. The developer of treatments for cancer and renal disease said its Japanese partners, Japan Tobacco Inc. and Torii Pharmaceutical Co., announced “positive” results from a Phase 3 study of ferric citrate for the treatment of hyperphosphatemia in end-stage renal disease patients on hemodialysis.
Lennar Corp. (LEN) fell 3.9 percent, the most since April 10, to $24.72. The third-largest U.S. homebuilder by revenue was cut to fairly valued from buy at CRT Capital Group LLC.
Nabi Biopharmaceuticals (NABI) fell 11 percent, the most since July 18, to $1.65. The Rockville, Maryland-based company will issue new stock to acquire all of Biota Holdings Ltd.’s (BTA AU) shares, with investors in the Melbourne-based company to own 74 percent of the combined business.
Otelco Inc. (OTT) plunged 45 percent, the most since its initial public offering in December 2004, to $6.66. Time Warner Cable Inc. (TWC US) said it won’t renew a wholesale network connections contract that accounted for 12 percent of the provider of wireless telephone services to rural communities’ 2011 revenue.
Sonic Automotive Inc. (SAH) slumped 5.4 percent, the most since Feb 15, to $16.97. The U.S. auto retailer posted first-quarter sales and earnings that trailed analysts’ estimates.
SunTrust Banks Inc. (STI) had the second-biggest gain in the S&P 500, climbing 2.8 percent to $23.23. The eighth-largest U.S. lender by deposits said first-quarter net income rose 39 percent, beating analysts’ estimates, as mortgage income rebounded.
Tennant Co. (TNC) fell 12 percent, the most since December 2008, to $42.04. The maker of floor coatings had first- quarter earnings of 28 cents a share, missing the average analyst projection, according to data compiled by Bloomberg.
Wal-Mart Stores Inc. (WMT) slid 4.7 percent to $59.54, the biggest retreat in the Dow Jones Industrial Average. Mexican Finance Minister Jose Antonio Meade said authorities don’t have enough information to open an investigation into alleged bribery at the retailer’s local subsidiary. The New York Times reported that the company curtailed an internal investigation into allegations of bribery by executives in Mexico.
Wal-Mart de Mexico SAB (WMMVY US) tumbled 13 percent to $28.66.
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