Active traders and day traders have several key stocks to watch.  We are tracking moves in Bank of Ireland (NYSE: IRE), Allied Irish Banks plc (NYSE: AIB), Brocade Communications Systems, Inc. (NASDAQ: BRCD), DryShips Inc. (NASDAQ: DRYS), O2Micro International Ltd. (NASDAQ: OIIM), Pacific Ethanol, Inc. (NASDAQ: PEIX), Sterling Financial Corporation (NASDAQ: STSA), and Walgreen Company (NYSE: WAG).

Bank of Ireland (NYSE: IRE) is trading down close to 5% at $3.04 in pre-market trading over fresh Irish bank concerns after S&P warned that Ireland could be cut yet again.  Allied Irish Banks plc (NYSE: AIB) is also down with it by 3.4% at $1.41 but on lighter trading volume.

Brocade Communications Systems, Inc. (NASDAQ: BRCD) is indicated a tad lower after yesterday’s IBM-Blade server news, mainly as one more possibility that Brocade does not have the wide line-up of suitors as many investors have hoped in the latest wave of tech consolidations.  Shares are down at $6.06 versus a $6.10 close on Monday, which might not seem like much until you look that it hit above $6.30 in two of the last five trading sessions.

DryShips Inc. (NASDAQ: DRYS) is trading higher this morning after one of its units has received a letter of award from an American exploration company; shares are up 7.6% at $4.81 on over 1 million shares in the pre-market.

O2Micro International Ltd. (NASDAQ: OIIM) just fell almost 10% to $5.19 in light volume after an earnings warning after an inventory adjustment.  The firm now sees Q3 revenues down 10% to 15% from Q2.  Its 52-week trading range is $4.01 to $7.90.

Pacific Ethanol, Inc. (NASDAQ: PEIX) is trading higher after it signed definitive agreements to Raise $53.5 million to purchase a 20% interest in plants and also to retire corporate debt.  Shares are up 14% at $1.23 on active trading and its 52-week range is $0.35 to $2.75.

Sterling Financial Corporation (NASDAQ: STSA) is surging on news that its regulators, the FDIC and Washington Department of Financial Institutions, have “terminated a cease and desist order put in place in October 2009 with Sterling Savings Bank.”  Shares are up 31% at $0.79 on about 30,000 shares; average volume is only 400,000 shares and the 52-week range is $0.43 to $2.15.

Walgreen Company (NYSE: WAG) is trading higher after posting an 8% rise in income that beat earnings estimates.  Shares are trading up 7% at $32.50 on over 350,000 shares versus a 52-week range of $26.26 to $40.69.

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JON C. OGG

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