We have many stocks on the move this morning, very few tied to earnings.  Tuesday’s top day trader and active trader alerts are in Ambac Financial Group, Inc. (NYSE: ABK), A123 Systems, Inc. (NASDAQ: AONE), BP plc (NYSE: BP), Charles River Laboratories International, Inc. (NYSE: CRL), WuXi PharmaTech (Cayman) Inc. (NYSE: WX), Depomed, Inc. (NASDAQ: DEPO), Dollar General Corp. (NYSE: DG), and ReneSola Ltd. (NYSE: SOL).  We have added in the news, the moves, and added in color and historic prices where applicable.

Ambac Financial Group, Inc. (NYSE: ABK) is soaring this morning on news that it has converted all of its remaining $16.4 billion of exposure to a group of CDOs of asset backed securities. Shares closed at $1.03 yesterday and the stock is indicated up at $1.23 for an almost 20% gain on about 500,000 shares in pre-market trading.

A123 Systems, Inc. (NASDAQ: AONE) is recovering about half of yesterday’s gains on a further pact announcement with Navistar.  Shares are up 4.4% at $8.36 on fairly thin volume this morning.

BP plc (NYSE: BP) is trying to have one day of back to business, but its shares are indicated lower.  The company and ConocoPhillips (NYSE: COP) announced that the FERC has approved the venture plan to solicit interest in a $35 billion proposed natural gas pipeline between Alaska and Alberta in Canada.  BP has also said that it will make an immediate payment of $60 million to Louisiana, which appears to be the first of six installments. ADRs are trading down 1.5% at $36.20 on close to 1 million shares in pre-market trading.

Charles River Laboratories International, Inc. (NYSE: CRL) and WuXi PharmaTech (Cayman) Inc. (NYSE: WX) have a challenge to the proposed merger.  Jana Partners has bought 4.7 million shares for about a 7% stake in Charles River and it said that it intends to vote against the Charles River planned $1.6 billion acquisition of WuXi.  Volume is thin on this, but WuXi shares are indicated down around $17.00 after a $17.75 close and Charles River shares are indicated up over $33.00 versus a $32.44 close.

Depomed, Inc. (NASDAQ: DEPO) is trading up after it announced that the FDA has accepted its New Drug Application for its investigational postherpetic neuralgia treatment DM-1796.  This also triggers a milestone payment.  Shares are up around $3.30 after a $3.03 close and we have seen almost 70,000 shares trade.  The 52-week range is $2.32 to $6.40 and the average volume is close to 350K shares per day.

Dollar General Corp. (NYSE: DG) is up after it beat earnings expectations and raised its guidance.  The stock closed at $28.23 Monday and shares are indicated up around $30.50 versus a post-IPO trading range of $21.30 to $31.41.

ReneSola Ltd. (NYSE: SOL) is trading down after filing to sell some $200 million in stock (ADS) from time to time.  The market cap here was only $463 million as of yesterday’s closing bell.  Shares are down 2% at $5.26 versus a 52-week range of $3.50 to $8.75.

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JON C. OGG

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