The top after-market NASDAQ Stock Market gainers are: Fushi Copperweld, MIPS Technologies, Career Education, Sykes Enterprises, and Stewart Enterprises. The top after-market NASDAQ Stock Market losers are: Exar, Metabolix, Xyratex, Alexion Pharmaceuticals, and Apollo Investment.

Gainers

Fushi Copperweld, Inc. (FSIN) stock grew 9.65 percent to $8.18 in after-market trading. The company said the special committee of its board of directors has received a revised takeover offer from its chairman and co-chief executive officer Li Fu and private equity firm Abax Global Capital Hong Kong Ltd. Another private equity firm TPG Growth Asia Inc., an affiliate of TPG Capital L.P., has joined the chairman-led group in the buyout offer. The revised proposal to acquire the company in a going private transaction for $9.50 per share in cash is higher than the $9.25 per share offer submitted by Fu and Abax in mid-November, but is lower than the $11.50 per share offer initially submitted by Fu and Abax in early November 2010. Further, the company said the latest offer does not contain customary financing commitments and is still highly conditional. Fushi's special committee will carefully review the revised proposal and notify shareholders of its position regarding the revised proposal in due course.

MIPS Technologies Inc. (MIPS) stock gained 4.52 percent to $4.39 in after-market trading.

Career Education Corp. (CECO) stock increased 4.38 percent to $7.86 in after-market trading.

Sykes Enterprises, Inc. (SYKE) stock gained 4.20 percent to $15.86 in after-market trading.

Stewart Enterprises Inc. (STEI) stock increased 3.78 percent to $5.76 in after-market trading.

Losers

Exar Corp. (EXAR) stock slid 3.75 percent to $6.42 in after-market trading. The company said it lowered its third quarter revenue outlook to range of $28 million to $30 million from previous forecast of $32 million to $34 million, while Street analysts predict $33.09 million. The company now anticipates adjusted gross margin of 48 percent to 50 percent. The company said revenue outlook across all product lines has fallen below the original expectation due to weaker economic conditions in Asia and Europe and continued inventory corrections.

Metabolix, Inc. (MBLX) stock declined 2 percent to $4.42 in after-market trading.

Xyratex Ltd. (XRTX) stock decreased 1.51 percent to $13.74 in after-market trading.

Alexion Pharmaceuticals, Inc. (ALXN) stock declined 1.30 percent to $70 in after-market trading. The company said it agreed to buy in an all-cash transaction 100 percent of the capital stock of Enobia Pharma Corp., a private biopharmaceutical company based in Montreal, Canada and Cambridge, Massachusetts. Alexion said it would acquire full worldwide development and commercial rights to Enobia's lead product candidate ENB-0040 (asfotase alfa). Alexion has agreed to pay $610 million in cash upon consummation of the transaction, and up to $470 million in cash to be paid upon achievement of various regulatory and sales milestones. Alexion intends to finance the acquisition through cash on hand and $300 million of committed bank debt. The companies currently anticipate that the transaction will be completed in the first quarter of 2012.

Alexion reiterated all areas of 2011 guidance provided in its third quarter 2011 earnings announcement in October. Alexion said it would provide 2012 financial guidance in February, including one-time expenses related to the Enobia acquisition. The company expects 2012 adjusted research and development expenses to transiently rise to about 20 percent to 21 percent of sales, due to activities associated with Enobia's programs, and then to return to the company's target of about 17 percent to 18 percent of sales in 2013. Adjusted selling, general and administrative expenses associated with the proposed acquisition are expected to have limited impact in 2012.

Apollo Investment Corp. (AINV) stock decreased 1.24 percent to $6.37 in after-market trading.