We have many stocks moving this Wednesday morning despite an exodus of traders during the shortened holiday week.  The top stocks to watch for active traders and day traders are Allied Irish Banks plc (NYSE: AIB), ARM Holdings plc (NASDAQ: ARMH), Corcept Therapeutics Inc. (NASDAQ: CORT), Cumberland Pharmaceuticals, Inc. (NASDAQ: CPIX), Nike Inc. (NYSE: NKE), Walgreen Co. (NYSE: WAG), Xilinx, Inc. (NASDAQ: XLNX), YRC Worldwide Inc. (NASDAQ: YRCW), and ZOOM Technologies, Inc. (NASDAQ: ZOOM).  We have tallied up basic details on each with the corresponding news and color where applicable.

Allied Irish Banks plc (NYSE: AIB) is lower after E.U. representatives warned that Allied Irish’s creditors may get more pain; ADRs are down 1.7% at $1.13 on almost 200,000 pre-market shares.

ARM Holdings plc (NASDAQ: ARMH) is up yet again on continued talk of the Window-based O/S heading its way that will support its architecture.  ADRs are up 3.3% at $20.43 on over 115,000 shares; consider this a new high as the 52-week range is $8.21 to $19.96.

Corcept Therapeutics Inc. (NASDAQ: CORT) is surging on news that it announced positive phase 3 study results for its CORLUX as a treatment of Cushing’s Syndrome; shares are up 9.3% at $4.58 on nearly 800,000 shares versus a 52-week range of $2.43 to $4.70.

Cumberland Pharmaceuticals, Inc. (NASDAQ: CPIX) is getting crushed on news that the FDA rejected its liver drug’s new indication.  Shares are down 13% at $6.00 on almost 20,000 shares and versus a 52-week range of $4.70 to $14.78.

Nike Inc. (NYSE: NKE) is lower after earnings were fine but future orders disappointed.  Shares were already sitting on huge gains too.  The stock is lower by 5.4% at $87.35 on over 100,00 pre-market shares and versus a 52-week range of $60.89 to 92.49.

Walgreen Co. (NYSE: WAG) is running higher after profit rose almost 20% and beating earnings estimates; shares are up 7.9% at $39.75 on over 400,000 shares.  Call it a 52-week high as the prior range was $26.26 to $37.95.

Xilinx, Inc. (NASDAQ: XLNX) is lower after its earnings warning we detailed the fallout from last night; shares are down 4.5% at $27.10 on about 70,000 shares pre-market and versus a 52-week range of $22.75 to $29.40.

YRC Worldwide Inc. (NASDAQ: YRCW) is trading higher after an amended credit facility announced last night; Credit Suisse remains ‘underperform’ on it.  Shares are up 3.2% at $3.83 in fairly active pre-market trading.

ZOOM Technologies, Inc. (NASDAQ: ZOOM) is zooming after record guidance for 2011 of $320 to $340 million in revenue versus $326+ million from Thomson Reuters). Shares are up almost 18% at $4.51 on over 160,000 shares versus a 52-week range of $3.34 to $8.95.

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JON C. OGG

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