Active traders and day traders have many stocks to choose from this Wednesday morning.  We are tracking news and moves in shares of Some of the most active stocks or largest moves seen in shares Ambac Financial Group, Inc. (NYSE: ABK), Apple Inc. (NASDAQ: AAPL), ARM Holdings, plc (NASDAQ: ARMH), Cardiac Science Corporation (NASDAQ: CSCX), Cell Therapeutics, Inc. (NASDAQ: CTIC), Coldwater Creek, Inc. (NASDAQ: CWTR), Infinera Corporation (NASDAQ: INFN), Microsoft Corporation (NASDAQ: MSFT), and OncoGenex Pharmaceuticals, Inc. (NASDAQ: OGXI).

Ambac Financial Group, Inc. (NYSE: ABK) is down again playing gain ‘give-back’ after last week’s huge run-up on hopes that the foreclosure moratorium and foreclosure sale moratoriums might mean that Ambac and insurers will have lower losses or be able to recoup funds.  Shares are down 3% at $0.89.

Apple Inc. (NASDAQ: AAPL) is down after beating earnings but having far less margins; the stock is down 3.6% around $306.60 on over a million shares.  Keep in mind that the initial reaction after the halt was lifted was a drop of 7%.

ARM Holdings, plc (NASDAQ: ARMH) is down marginally with Apple as a related play.  Shares are down about 3.25% at $18.49.

Cardiac Science Corporation (NASDAQ: CSCX) is being acquired by Opto Circuit for $2.30 per share.  Shares are up 8.1% at $2.27 this morning.  Keep in mind that the 52-week range is $0.90 to $4.02.

Cell Therapeutics, Inc. (NASDAQ: CTIC), a penny stock, is up almost 10% at $0.45 after a positive opinion from the Pediatric Committee of the European Medicines Agency paves the way to submit for marketing approval.

Coldwater Creek, Inc. (NASDAQ: CWTR) is getting dunked in the cold water after it warned about lower sales.  Shares are down a sharp 32% at $3.64 on over 400,000 shares.

Infinera Corporation (NASDAQ: INFN) is tanking this morning after beating earnings but giving a soft Q4 outlook.  Shares are down about 28% around $8.88 on more than 400,000 shares.

Microsoft Corporation (NASDAQ: MSFT) is down in general with tech but chief architect Ray Ozzie is now out of the company.  Shares are down 2.4% at $25.82 in pre-market trading.

OncoGenex Pharmaceuticals, Inc. (NASDAQ: OGXI) is down 16% at $15.75 (versus 52-week range of $11.83 to $35.33).  The company has proposed a common stock and warrant sale to raise capital.

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JON C. OGG

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