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), Amylin Pharmaceuticals, Inc. (NASDAQ: AMLN), Eli Lilly & Co. (NYSE: LLY), Alkermes, Inc. (NASDAQ: ALKS), Bank of America Corporation (NYSE: BAC), Cell Therapeutics, Inc. (NASDAQ: CTIC), Cree Inc. (NASDAQ: CREE), Dearborn Bancorp Inc. (NASDAQ: DEAR), FSI International Inc. (NASDAQ: FSII), and Intuitive Surgical, Inc. (NASDAQ: ISRG).

Ambac Financial Group, Inc. (NYSE: ABK) is seeing a bit of a pop this morning after yesterday’s late-afternoon stock surge after BofA is being sued for mortgage put-backs.  Shares went from about $0.90 to $1.14 yesterday and the stock is up almost 3% this morning at $1.17.  Be advised that yesterday’s $1.15 was the highest level seen yet since the mortgage and foreclosure scandals hit last week.

Amylin Pharmaceuticals, Inc. (NASDAQ: AMLN) is down by almost half; partners Eli Lilly & Co. (NYSE: LLY) is down 4% at $35.88 and Alkermes, Inc. (NASDAQ: ALKS) is down 25% at $10.75.  FULL NEWS at BioHealthInvestor.com.

Bank of America Corporation (NYSE: BAC) is down on further mortgage loss concerns via put-back clauses and after an analyst downgrade this morning.  Shares are down 1.7% at $11.60, and that will mark a 52-week low versus the prior year range of $11.71 to $19.86.

Cell Therapeutics, Inc. (NASDAQ: CTIC) is down 7.7% at $0.41 after it raised $21 million via the sale of preferred stock and warrants.

Cree Inc. (NASDAQ: CREE) managed impressive growth year over year but that is slowing rapidly and the guidance was soft again.  Shares are down 9.5% at $47.99 and the 52-week trading range is $40.50 to $83.38.

Dearborn Bancorp Inc. (NASDAQ: DEAR) is yet again proving to be extremely volatile after earnings.  The Michigan-based regional bank is trading up 40% at $2.45 on relatively thin volume.

FSI International Inc. (NASDAQ: FSII) is down after forecasting a revenue shortfall for the quarter.  Shares are down 12% at $2.70 versus a 52-week trading range of $1.00 to $5.17.

Intuitive Surgical, Inc. (NASDAQ: ISRG) reported a 34% profit gain but shares are down on revenue and guidance.  The stock is down 5% at $265.00 on over 13,000 shares.

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JON C. OGG