Active traders and day traders have many stocks to choose from this Monday morning.  We are tracking news and moves in shares of Ambac Financial Group, Inc. (NYSE: ABK), Angiotech Pharmaceuticals Inc. (NASDAQ: ANPI), Avanir Pharmaceuticals (NASDAQ: AVNR), Biodel Inc. (NASDAQ: BIOD), EXCO Resources Inc. (NYSE: XCO), Fortinet Inc. (NASDAQ: FTNT), SIRIUS XM Radio Inc. (NASDAQ: SIRI), VIVUS Inc. (NASDAQ: VVUS) and YRC Worldwide Inc. (NASDAQ: YRCW).

Ambac Financial Group, Inc. (NYSE: ABK) missed an interest payment and warned that bankruptcy filing is near; shares are getting crushed by 43% at $0.47 in very active trading.

Angiotech Pharmaceuticals Inc. (NASDAQ: ANPI) is down after word of a recapitalization.  Shares are down 27% at $0.37, a new 52-week low as the prior range was $0.40 to $1.45.

Avanir Pharmaceuticals (NASDAQ: AVNR) is soaring after its drug called Nuedexta won FDA approval for uncontrolled laughing and crying.  Shares are up a whopping 123% at $5.40 and that is above the old 52-week range of $1.31 to $3.73.

Biodel Inc. (NASDAQ: BIOD) is visiting bio-hell.  The FDA issued a Complete response letter over its Linjeta application for type-1 and type-2 diabetes.  Shares are down 52% at $1.75 and the 900,000+ shares traded in the pre-market is already above an average day’s volume of 872,000 shares. Mark a 52-week low here as the prior range was $3.22 to $6.25.

EXCO Resources Inc. (NYSE: XCO) is surging after its CEO made a $4.36 billion offer to take the independent oil and gas company private.  Shares are up 38% at $20.49 on more than 7 million shares.  The prior 52-week range was $13.25 to $22.52.

Fortinet Inc. (NASDAQ: FTNT) is surging on reports that IBM is making an acquisition offer for the company.  Shares are up 26% at $38.00 in thin volume trading; the 52-week range is $14.72 to $31.65.

SIRIUS XM Radio Inc. (NASDAQ: SIRI) was an options-watch stock for the week ahead of earnings, but shares are hitting new 52-week highs after Seeking Alpha wrote that it will join the NASDAQ 100 in December.  Shares are up 3.3% at $1.55 on over 1 million shares, while the prior 52-week range is $0.56 to $1.50.

VIVUS Inc. (NASDAQ: VVUS) is playing a bit of a give-back after Friday’s ‘bad news that was good news’ from the FDA denial.  Shares are down 4.5% at $7.40.

YRC Worldwide Inc. (NASDAQ: YRCW) is trading higher after the Teamsters approved a third round of concessions.  Shares are up 20% at $4.41 versus a split-adjusted 52-week range of $2.50 to $106.25.

Also, here is the unusual options activity from Friday that are trades which will carry over into this week and beyond.

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JON C. OGG

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