The top after-market NASDAQ Stock Market gainers are: Cepheid, Pharmaceutical Product Development, athenahealth, Skyworks Solutions, and Acacia Research. The top after-market NASDAQ Stock Market losers are: Avid Technology, Cymer, Hittite Microwave, Coinstar, and Sify Technologies.

Gainers

Cepheid (CPHD) stock jumped 10.65 percent to $35 in the after-market trading. Profit for the second quarter was $1.8 million or $0.03 per share, compared to a loss of $1.8 million or $0.03 per share last year. Adjusted profit was $7.2 million or $0.11 per share, up from $2.9 million or $0.05 per share last year. Revenue rose to $67 million from $49.6 million. Analysts had expected profit of $0.02 per share on revenue of $60.96 million.

Looking ahead into the fiscal 2011, Cepheid lifted its earnings guidance to range of $0.08 to $0.11 per share from previous range between loss $0.01 and profit $0.04 per share. The company also raised its adjusted earnings guidance to range of $0.41 to $0.44 per share from previous forecast of $0.31 to $0.36 per share. The company increased its 2011 revenue outlook to range of $265 million to $270 million from previous range of $245 million to $255 million. Street analysts predict profit of $0.05 per share on revenue of $255.25 million for the fiscal 2011.

Pharmaceutical Product Development Inc. (PPDI) stock climbed 10.24 percent to $34.01 in the after-market trading.

athenahealth, Inc. (ATHN) stock grew 9.14 percent to $53.02 in the after-market trading. Adjusted profit for the second quarter was $7.89 million or $0.22 per share, up from $4.10 million or $0.12 per share last year. Revenue grew 33 percent to $77.89 million. Analysts had expected profit of $0.18 per share on revenue of $75.08 million. For the fiscal 2011, the company increased its adjusted earnings guidance to range of $0.70 to $0.83 per share from previous forecast of $0.68 to $0.78 per share. The company also raised its 2011 revenue outlook to range of $315 million to $325 million from previous range of $300 million to $315 million. Street analysts predict profit of $0.81 per share on revenue of $312.37 million.

Separately, Athenahealth said it agreed to acquire Proxsys, LLC, a leading provider of cloud-based care coordination services between physicians and hospitals, for about $28 million plus milestone benefits, in order to accelerates the development of athenahealth's emerging care coordination service, now known as athenaCoordinator. The deal is expected to close in the third quarter of 2011.

Skyworks Solutions Inc. (SWKS) stock grew 9.13 percent to $24.75 in the after-market trading. Adjusted profit for the third quarter was $93.0 million or $0.49 per share, up from $58.7 million or $0.32 per share last year. Revenue rose to $356.1 million from $275.4 million. Analysts had expected profit of $0.46 per share on revenue of $345.24 million. For the fourth quarter, the company expects adjusted earnings of $0.53 per share and revenue of $400 million, while Street predicts profit of $0.50 per share on revenue of $369.18 million.

Acacia Research Corp. (ACTG) stock increased 5.34 percent to $43.80 in the after-market trading. Profit for the second quarter was $2.14 million or $0.05 per share, compared to a loss of $3.87 million or $0.12 per share last year. Adjusted earnings were $8.16 million or $0.19 per share, up from $74,000 or break-even per share last year. Revenue rose to $39.75 million from $15.01 million. Analysts had expected profit of $0.01 per share on revenue of $26.03 million.

Losers

Avid Technology Inc. (AVID) stock plunged 12.81 percent to $16 in the after-market trading. Adjusted loss for the second quarter widened to $3.9 million or $0.10 per share from $2.0 million or $0.05 per share last year. Revenue declined to $161.3 million from $162.2 million. Analysts had expected profit of $0.09 per share on revenue of $170.38 million.

Cymer Inc. (CYMI) stock fell 12.07 percent to $41.02 in the after-market trading. The company expects third quarter revenue of about $130 million, while Street predicts $157.87 million. The lower level of second quarter DUV light source orders is reflective of chipmakers recently assessing their capital investments. As a result, we expect to ship a significantly reduced number of DUV light sources in the third quarter, CEO Bob Akins said in a statement. The company reported second quarter profit of $27.7 million or $0.89 per share, up from $21.2 million or $0.70 per share last year. Revenue increased to $158.2 million from $131.9 million. Analysts had expected profit of $0.71 per share on revenue of $157.47 million for the second quarter.

Hittite Microwave Corp. (HITT) stock tumbled 9.58 percent to $55.04 in the after-market trading. The company expects third quarter earnings of $0.65 to $0.68 per share and revenue of $68 million to $70 million, while Street predicts profit of $0.68 per share on revenue of $70.60 million. The company reported second quarter earnings of $20.8 million or $0.68 per share, up from $19.2 million or $0.64 per share last year. Sales rose 13.6 percent to $68.5 million. Analysts had expected profit of $0.66 per share on revenue of $68.52 million.

Coinstar Inc. (CSTR) stock slid 9.41 percent to $53.11 in the after-market trading. The company narrowed its second quarter revenue guidance to range of $434 million to $436 million from previous range of $430 million to $450 million, while Street predicts $445.94 million. The company raised its second quarter earnings from continuing operations outlook to range of $0.96 to $1.00 per share from previous forecast of $0.76 to $0.86 per share, while Street predicts $0.81 per share. Further for the third quarter, Coinstar said earnings from continuing operations is currently seen to exceed that of the fourth quarter, citing greater percentage of new lower margin titles scheduled for release in the fourth quarter. Street analysts currently expect profit of $0.89 per share for the third quarter.

Meanwhile, the company anticipates revenues for the fourth quarter 2011 to be greater than any of the previous three quarters, based on the release schedule and rollout of video game rentals in the second half. For fiscal 2011, the company raised its earnings from continuing operations guidance to range of $2.90 to $3.15 per share from previous forecast of $2.75 to $3.10 per share. The company now expects its 2011 revenue of $1.76 billion to $1.85 billion, compared to previous forecast of $1.73 billion to $1.85 billion. Street analysts predict earnings of $3.02 per share on revenues of $1.81 billion for the fiscal 2011.

In addition, Coinstar said the president of redbox business, Mitch Lowe, has resigned, but will remain until a successor is named. The company has begun an external search to identify a new president. Lowe, who joined redbox in 2003, resigned to pursue entrepreneurial and other interests. On behalf of Coinstar and the redbox organization, I want to thank Mitch for his many contributions over the last eight years, particularly in establishing redbox as a leader in the home entertainment business, Coinstar CEO Paul Davis said in a statement. Coinstar also said its board has authorized repurchase of an additional $250 million and that it has entered into a new credit facility agreement.

Sify Technologies Ltd. (SIFY) stock fell 8.82 percent to $4.24 in the after-market trading.