The top after-market NASDAQ Stock Market gainers are: Questcor Pharmaceuticals, Cubist Pharmaceuticals, Intersil, Expedia, and ON Semiconductor. The top after-market NASDAQ Stock Market losers are: Team, Meru Networks, Prospect Capital, Royal Gold, and Sify Technologies.

Gainers

Questcor Pharmaceuticals, Inc. (QCOR) stock jumped 17.96 percent to $17.60 in the after-market trading, as it guided first quarter revenue above Street view, led by a 115 percent surge in sales of its main drug H.P. Acthar Gel, which is used to treat certain disorders with an inflammatory component. The company expects first quarter sales of $48.6 million, higher than Street view of $33.6 million.

Questcor said new paid prescriptions of Acthar Gel exceeded 500, a surge of 115 percent compared with last year. The company shipped 2,010 vials of Acthar during the quarter. The company expects operating expenses for the first quarter of $16 million to $18 million.

The solid growth seen in the fourth quarter was emulated in the first quarter, thanks to strong sales of Acthar. In March alone, the drug's prescriptions for multiple sclerosis improved 50 percent over February. Prior spikes in sequential quarterly Achtar prescriptions have usually been succeeded by modest sequential growth, said Don Bailey, chief executive officer of Questcor.

Cubist Pharmaceuticals Inc. (CBST) stock climbed 14.61 percent to $28.94 in the after-market trading, after it granted Teva Pharmaceutical Industries Ltd. (TEVA) the license to launch the generic version of its antibiotic Cubicin, thus ending the patent dispute between the two. Teva may launch its generic daptomycin product in the U.S. on June 24, 2018, if Cubist gets a 6-month extension of marketing exclusivity for Cubicin. But, without the extension Teva will be able to launch its generic version on December 24, 2017.

Cubist currently has Orange Book patents that are due to expire on September 24, 2019. Pediatric exclusivity, if granted, would add 6 months to that expiration date. The agreement also provides that, for the period the license from Cubist to Teva is in effect, Teva will purchase its U.S. requirements of daptomycin exclusively from Cubist. The payments to be made for such supply will be based on the cost-of-goods-sold plus a margin, and on a specified percentage of gross margin from the sale of Teva's generic daptomycin.

Cubicin is approved in the U.S. and many non-US markets as therapy for bloodstream infections, including right-sided endocarditis, and complicated skin infections caused by certain Gram-positive bacteria.

Intersil Corp. (ISIL) stock grew 8.09 percent to $13.10 in the after-market trading.

Expedia Inc. (EXPE) stock gained 6.20 percent to $23.82 in the after-market trading, as American Airlines restores distribution deal with Expedia. American Airlines, a unit of AMR Corp. (AMR), and Expedia announced a memorandum of understanding (MOU) that will allow the companies to resume doing business together, effective immediately. Access to fares and schedule information of American Airlines and its subsidiary American Eagle has been restored for search and ticketing on Expedia and Hotwire sites worldwide initially via global distribution system (GDS) technology.

Expedia said it plans to access American's fares, schedules, travel products and services via American's Direct Connect link by using aggregation technology provided by a GDS. Expedia website stopped displaying and selling American Airlines' tickets on its website from the beginning of this year after the escalation of a commercial dispute between the airline and travel websites.

ON Semiconductor Corp. (ONNN) stock increased 5.48 percent to $10.20 in the after-market trading.

Losers

Team Inc. (TISI) stock plunged 8.08 percent to $24.02 in the after-market trading. Profit for the third quarter was $3.9 million or 19 cents a share, compared to a loss of $427,000 or 2 cents a share last year. Adjusted profit was $1.7 million or 8 cents a share, up from $1.2 million or 6 cents a share last year. Revenue rose to $108.82 million from $104.11 million. Analysts had expected profit of 18 cents a share on revenue of $116.83 million. The company affirmed its fiscal 2011 adjusted earnings guidance of $1.10 to $1.25 a share, while Street predicts $1.25 a share.

Meru Networks, Inc. (MERU) stock fell 6.20 percent to $17.70 in the after-market trading, following a cut to its first quarter revenue guidance. The company lowered its first quarter revenue outlook to range of $20 million to $20.5 million from previous forecast of $21.5 million to $22.5 million, while Street predicts $22.2 million. The company now expects adjusted operating expenses of $14.7 million to $14.8 million, compared to previous forecast of about $14.8 million.

In the first quarter we saw a number of transactions, primarily in the United States, that we anticipated would close but with the quarter concluded, it is now apparent that these transactions are experiencing longer than expected approval processes, said Ihab Abu-Hakima, Chief Executive Officer of Meru Networks.

Prospect Capital Corp. (PSEC) stock slid 4.12 percent to $11.65 in the after-market trading. The company said it priced the public offering of 9 million common shares. Prospect has granted the underwriter a 30-day option to buy up to an additional 1.35 million common shares. The offering is expected to close on April 7.

The company expects to use the proceeds from the offering initially to maintain balance sheet liquidity, involving repayment of debt under its credit facility, investments in high quality short-term debt instruments or a combination thereof, and thereafter to make long-term investments in accordance with its investment objective.

Separately, Prospect Capital said it narrowed its third quarter net investment income guidance to range of 25 cents to 27 cents a share from previous forecast of 24 cents to 30 cents a share.

Royal Gold, Inc. (RGLD) stock declined 4.03 percent to $50 in the after-market trading.

Sify Technologies Ltd. (SIFY) stock decreased 2.31 percent to $3.80 in the after-market trading.