The top after-market NASDAQ stock market gainers are: Rambus, Zoll Medical, Sequenom, Hot Topic and Activision Blizzard. The top after-market NASDAQ stock market losers are: NetApp, Horsehead Holding, Echelon Corp, Conn's and GT Advanced Technologies.

Gainers

Shares of Rambus, Inc. (NASDAQ:RMBS) soared 82.50 percent, or $3.30, to $7.30 despite losing a $4 billion lawsuit against Micron Technology and Hynix Semiconductor. A California jury said that Micron and Hynix did not conspire to fix prices and keep Rambus out of the market, as Rambus had alleged.  Rambus stock tanked $10.93 or 60.59 percent to close Wednesday's regular trading session at $7.16, the lowest level in the past three years.

Zoll Medical Corp. (NASDAQ:ZOLL) shares advanced 9.37 percent, or $3.34 to $39 after reporting better-than-expected quarterly profit and gave an upbeat revenue outlook. The company also announced a $50 million share repurchase program.

Sequenom, Inc. (NASDAQ:SQNM) shares rose 6.73 percent, or 28 cents, to $4.44 on a volume of 42,287 shares.

Shares of Hot Topic, Inc. (NASDAQ:HOTT) increased 6.44 percent, or 42 cents, to $6.94 after it reported higher profit for its third quarter. The company reported net income of $3.1 million, or 7 cents a share, compared to $400,000, or a penny a share, a year earlier.

Shares of Activision Blizzard, Inc. (NASDAQ:ATVI) gained 3.43 percent, or 42 cents, to $12.70 on a volume of 147,313 shares.

Losers

Shares of NetApp, Inc. (NASDAQ:NTAP) fell 7 percent, or $2.85, to $37.89 on a volume of 2.2 million shares after it gave a weak outlook for its third quarter. For the third quarter, NetApp expects earnings of 36 to 40 cents per share, and adjusted earnings of 56 to 60 cents per share. Revenues for the third quarter are forecast in the range of $1.520 billion to $1.610 billion. Wall Street currently expect the company to earn 63 cents per share on revenues of $1.64 billion, according to analysts polled by Thomson Reuters.

Horsehead Holding Corp. (NASDAQ:ZINC)  shares slipped 6.40 percent, or 55 cents, to $8.04.

Echelon Corp. (NASDAQ: ELON) shares fell 5.74 percent, or 34 cents, to $5.58.

Shares of Conn's, Inc. (NASDAQ:CONN) dropped 5.38 percent, or 61 cents, to $10.64.

GT Advanced Technologies, Inc. (NASDAQ:GTAT) shares fell 4.63 percent, or 39 cents, to $8.14. The company said it would repurchase up to $100 million of its stock.