The top after-market NASDAQ Stock Market gainers Friday are: Parlux Fragrances, Neurocrine Biosciences, Associated Banc-Corp, Sears Holdings, and James River Coal. The top after-market NASDAQ Stock Market losers are: Diodes, Broadcom, JDS Uniphase, Alexion Pharmaceuticals, and Hudson City Bancorp.

Gainers

Parlux Fragrances Inc. (PARL) stock jumped 94.52 percent to $6.75 in after-market trading. Perfumania Holdings, Inc. (PERF) said it agreed to buy all of the outstanding shares of Parlux Fragrances in a transaction valued at about $170 million based on Perfumania's closing stock price of $19.55 per share Thursday. The transaction has been unanimously approved by the independent committees of the Boards of Directors of both companies. The merger is expected to close in the first half of 2012. Based on Perfumania stock price of $19.55 and depending on the stockholder elections, the merger agreement values a share of Parlux stock at between $7.91 and $8.55.

Parlux's closing market price on December 22 was $3.40 per share, and there were about 20.77 million shares of Parlux common stock outstanding on that date. Parlux stockholders would be entitled to elect between mixed stock and cash consideration and principally stock consideration under the merger agreement. Parlux stockholders may elect to receive, for each share of Parlux common stock that they own, either (i) $4.00 in cash plus 0.20 shares of Perfumania common stock or (ii) 0.53333 shares of Perfumania common stock, both of which are subject to certain adjustments in the merger agreement. The maximum amount of cash that will be paid as merger consideration is $61.9 million and the maximum number of Perfumania shares issuable in the merger is 5,919,052 which amounts are subject to adjustments in certain circumstances.

Neurocrine Biosciences Inc. (NBIX) stock gained 2.81 percent to $8.42 in after-market trading. The shares closed Friday's regular trading down 0.12 percent at $8.19.

Associated Banc-Corp (ASBC) stock increased 1.86 percent to $11.50 in after-market trading. In a regulatory filing Wednesday, the company said the Compensation and Benefits Committee of its Board of Directors approved 2012 executive compensation, including the compensation of Philip Flynn, President and Chief Executive Officer of Associated, and the other Named Executive Officers of Associated as reflected in the Proxy Statement for the 2011 Annual Meeting of Shareholders. The committee believes that the CEO and the management team have achieved a number of significant milestones in their execution of Associated's Strategic Plan. By its approval of a performance-based incentive compensation structure, the Committee is encouraging and supporting management's ongoing execution and implementation of the Strategic Plan.

Sears Holdings Corp. (SHLD) stock gained 1.63 percent to $46.5993 in after-market trading. The shares closed Friday's regular trading up 0.07 percent at $45.85.

James River Coal Co. (JRCC) stock increased 1.47 percent to $6.90 in after-market trading. The shares closed Friday's regular trading down 4.23 percent at $6.80.

Losers

Diodes Inc. (DIOD) stock declined 3.36 percent to $21 in after-market trading. The shares closed Friday's regular trading down 0.64 percent at $21.73.

Broadcom Corp. (BRCM) stock decreased 1.08 percent to $29.4424 in after-market trading. The shares closed down 0.02 percent at $29.76 Friday.

JDS Uniphase Corp. (JDSU) stock declined 1.04 percent to $10.44 in after-market trading. The shares closed Friday's regular trading up 1.34 percent at $10.55.

Alexion Pharmaceuticals, Inc. (ALXN) stock decreased 1 percent to $68.387 in after-market trading. The shares closed up 2.55 percent at $69.08 Friday.

Hudson City Bancorp, Inc. (HCBK) stock moved down 0.95 percent to $6.23 in after-market trading. The shares closed Friday's regular trading down 0.08 percent at $6.29.