The top after-market NASDAQ Stock Market gainers are: Cray, Yongye International, Orthovita, Integrated Device Technology, and Sino Clean Energy. The top after-market NASDAQ Stock Market losers are: Nanosphere, MannKind, Wilshire Bancorp, Sequenom, and American Science & Engineering.

Gainers

Cray Inc. (CRAY) stock jumped 8.60 percent to $7.07 in the after-market trading. Loss for the first quarter narrowed to $1.49 million or $0.04 per share from $11.60 million or $0.34 per share last year. Revenue rose to $39.87 million from $28.39 million. Analysts had expected a loss of $0.47 per share on revenue of $36.73 million. Looking ahead into the full year 2011, the company said a wide range of results remains possible for the year and its quarterly and annual results are highly dependent on completing a handful of large transactions already contracted as well as securing additional opportunities.

Assuming all necessary acceptances are achieved within the year, the company expects revenue of $300 million to $340 million. Quarterly revenue is expected to fluctuate for 2011 with second quarter revenue of $65 million to $70 million and fourth quarter revenue representing more than 50 percent of the annual total. Street predicts revenue of $55.17 million for the second quarter and $332.05 million for the full year 2011.

Yongye International, Inc. (YONG) stock grew 4.69 percent to $5.13 in the after-market trading. Profit for the first quarter was $8.37 million or $0.16 per share, up from $4.37 million or $0.10 per share last year. Adjusted earnings were $13.11 million or $0.27 per share, up from $4.36 million or $0.10 per share last year. Sales grew to $50.22 million from $24.93 million. Analysts had expected a profit of $0.18 per share on revenue of $38.95 million.

For the fiscal 2011, the company still expects revenue of $315 million to $325 million, while Street predicts $279.65 million. The company expects 2011 adjusted earnings of $80 million to $82 million, representing 47.9 percent to 51.6 percent growth over last year. The company expects to expand its independently-owned branded store network to at least 30,000 by the end of 2011, which represents a 24.8 percent increase over the 2010.

Orthovita Inc. (VITA) stock gained 4.62 percent to $2.72 in the after-market trading.

Integrated Device Technology, Inc. (IDTI) stock increased 4.01 percent to $8.55 in the after-market trading. Profit for the fourth quarter rose to $31.4 million or $0.21 per share from $1.0 million or $0.01 per share last year. Adjusted profit was $20.2 million or $0.13 per share, up from $14.9 million or $0.09 per share last year. Revenue rose to $147.3 million from $138.0 million. Analysts had expected profit of $0.11 per share on revenue of $144.96 million.

As we enter fiscal year 2012, we believe that continued growth in our new and core businesses, driven by cloud computing and the ongoing deployment of 4G/LTE wireless infrastructure, will drive continuing top line improvement. By focusing on higher margin solutions and maintaining disciplined operating expense controls, we believe we can continue to demonstrate significant leverage in our model and deliver improved value for our shareholders, said Ted Tewksbury, Chief Executive Officer of Integrated Device Technology.

Sino Clean Energy Inc. (SCEI) stock rose 4 percent to $2.60 in the after-market trading. The company said it has commenced legal action against Geinvesting LLC, an individual calling himself Alfred Little, the owners of the web site called Seeking Alpha, and unidentified persons acting with, for or through them. The suit seeks $55 million in compensatory damages and $10 million in punitive damages resulting from the defendants' fraud, defamation, and tortious interference with Sino Clean Energy's business relationships.

The malicious and fraudulent attacks on the Company by short sellers seeking only to enrich themselves at the expense of our Company and its stockholders must stop. Trying to correct their false and defamatory statements one by one apparently serves no purpose since these short sellers clearly do not care about the truth. We warned the short sellers that we would not tolerate their continued fraudulent attacks and if they do not stop we would pursue civil remedies and make appropriate complaints to law enforcement. We intend to do both, said Baowen Ren, Chairman of Sino Clean Energy.

Losers

Nanosphere, Inc. (NSPH) stock plunged 20.48 percent to $2.33 in the after-market trading. The company said it plans to offer shares of its common stock in a public offering. The offering will be made pursuant to a prospectus supplement to the company's prospectus, dated September 15, 2009, filed as part of the company's effective $100 million shelf registration statement.

Piper Jaffray & Co. is acting as the sole book-running manager and Roth Capital Partners, LLC is acting as co-manager for the offering. The company said it intends to use the net proceeds from the offering for general corporate purposes and working capital.

MannKind Corp. (MNKD) stock plummeted 14.32 percent to $3.77 in the after-market trading. Loss for the first quarter narrowed to $41.53 million or $0.34 per share from $44.70 million or $0.40 per share last year, while Street analysts predict a loss of $0.29 per share. The company generated revenues of $50,000 in the quarter, compared to no revenues in the same quarter last year.

We recently held a productive End-of-Review meeting with the FDA regarding the path forward for AFREZZA. In this meeting, we were able to clarify many details about the FDA's requirements for approval of AFREZZA, and the agency indicated that its minutes of the meeting would contain additional advice regarding aspects of our planned studies, said Alfred Mann, Chairman and Chief Executive Officer of MannKind.

Once the protocols are finalized, we are ready to initiate the required clinical studies at sites in the United States, Europe and Latin America. As always, we remain committed to our goal of providing a novel treatment to the millions of patients with diabetes, said Mann.

Wilshire Bancorp Inc. (WIBC) stock fell 8.47 percent to $3.35 in the after-market trading. Wilshire Bancorp, the parent company of Wilshire State Bank, said it has commenced an underwritten public offering of about $100 million of its common stock. The company expects to grant the underwriters a 30-day option to purchase up to $15 million of additional common stock, solely to cover over-allotments, if any. A substantial portion of the net proceeds from the offering will be contributed to Wilshire State Bank as additional capital and the remaining net proceeds will be used to satisfy cash needs of Wilshire Bancorp and for other general corporate purposes.

Sequenom Inc. (SQNM) stock tumbled 5.01 percent to $7.78 in the after-market trading.

American Science & Engineering Inc. (ASEI) stock slid 4.32 percent to $84 in the after-market trading. Profit for the fourth quarter was $9.5 million or $1.03 per share, down from $12.3 million or $1.34 per share last year. Revenue fell to $67.7 million from $71.2 million. Analysts had expected earnings of $1.30 per share on revenue of $74.28 million. Further, the company declared quarterly cash dividend of $0.30 per share, payable on June 2 to the holders of record at the close of business on May 23.