The top after-market NASDAQ Stock Market gainers are: Westell Technologies, PetSmart, Ross Stores, Exelixis, and Sify Technologies. The top after-market NASDAQ Stock Market losers are: Smart Technologies, Ariad Pharmaceuticals, Alkermes, Orbotech, and Brightpoint.

Gainers

Westell Technologies Inc. (WSTL) stock jumped 8.33 percent to $3.90 in the after-market trading. Profit for the fourth quarter was $55.6 million or $0.79 per share, higher than $2.7 million or $0.04 per share last year. Adjusted earnings were $3.4 million or $0.05 per share, up from $2.7 million or $0.04 per share last year. Revenue grew 31 percent to $49.6 million.

PetSmart, Inc. (PETM) stock grew 5.44 percent to $44.80 in the after-market trading. Profit for the first quarter was $71 million or $0.61 per share, up from $56 million or $0.46 per share last year. Sales rose 6.8 percent to $1.5 billion. Analysts had expected earnings of $0.55 per share on revenue of $1.48 billion. Comparable store sales, or sales in stores open at least a year, grew 5.0 percent. The company expects second quarter earnings of $0.47 to $0.51 per share, and comparable store sales growth in the mid-single digit range, while Street predicts profit of $0.49 per share.

For the full year 2011, PetSmart increased its earnings guidance to range of $2.32 to $2.42 per share from previous forecast of $2.23 to $2.35 per share, while Street predicts $2.36 per share. The company still expects 2011 sales growth in the mid-single digit range, while Street predicts revenue growth of 6 percent. The company now expects 2011 comparable store sales growth in the low- to mid-single digit range, while previously the company had expected comparable-store sales growth in the 3 percent to 4 percent range.

Ross Stores Inc. (ROST) stock gained 3.84 percent to $85 in the after-market trading. The company said its board of directors has declared a regular quarterly cash dividend of $0.22 per common share, payable on June 30 to stockholders of record as of June 7.

Exelixis, Inc. (EXEL) stock increased 3.60 percent to $12.08 in the after-market trading. The company's experimental cancer drug cabozantinib was shown in a mid-stage trial to help control advanced prostate, ovarian and liver cancers, according to research study presented on Wednesday. The drug was also found to fully or partly eliminate cancer that had spread to the bone in patients with breast cancer, prostate cancer and melanoma, according to the American Society of Clinical Oncology.

Cabozantinib, also known as XL184, is the lead product for Exelixis. It is an oral drug designed to block the pathway that tumors need to form new blood vessels. In the data released, for 398 evaluated patients with all types of cancer, 9 percent experienced partial tumor shrinkage. But the rates of cancer stabilization were much higher -- 76 percent of liver cancer patients, 71 percent of prostate cancer patients and 58 percent of ovarian cancer patients saw their tumors either shrink or remain unchanged. Also, 59 of 68 patients with cancer that had spread to the bone (mostly from prostate cancer, but also from breast cancer and melanoma) had either partial or complete disappearance of the cancer on bone scans.

Sify Technologies Ltd. (SIFY) stock rose 3.46 percent to $4.78 in the after-market trading.

Losers

Smart Technologies Inc. (SMT) stock plunged 13.79 percent to $8.38 in the after-market trading. Profit for the fourth quarter was $7.6 million, down from $10.5 million last year. Earnings per share for the quarter were $0.06, flat with last year on a lower share count for the recent quarter. Adjusted earnings declined to $0.8 million or $0.01 per share from $5.7 million or $0.03 per share last year. Revenue grew 7.5 percent to $167.3 million. Analysts had expected earnings of $0.08 per share on revenues of $162.95 million.

Smart Technologies expects fiscal 2012 adjusted earnings to be consistent with last year, and revenue to be flat to 5 percent down compared to fiscal 2011. This represents adjusted profit of $0.65 per share and revenue of $750.6 million to $790.1 million, while Street predicts profit of $0.83 per share on revenue of $844.8 million.

Ariad Pharmaceuticals Inc. (ARIA) stock fell 5.86 percent to $8.67 in the after-market trading. The company said new data on ponatinib, its investigational pan-BCR-ABL inhibitor, and ridaforolimus, an investigational mTOR inhibitor discovered by Ariad and now being developed by Merck, will be presented at the American Society of Clinical Oncology (ASCO) Annual Meeting in Chicago, June 3 to 7.

Ariad said comprehensive data from the global Phase 3 SUCCEED trial of oral ridaforolimus in patients with metastatic soft-tissue and bone sarcomas who have had a favorable response to cytotoxic chemotherapy will be presented in an oral session on June 6. The presentation will include data on the trial’s primary and secondary endpoints and analyses from predefined patient sub-groups. In addition, clinical data on ponatinib in patients with FLT3-positive acute myeloid leukemia will be presented in a poster session on June 3.

Alkermes, Inc. (ALKS) stock tumbled 5.29 percent to $17 in the after-market trading. Loss for the fourth quarter narrowed to $13.08 million or $0.14 per share from $13.94 million or $0.15 per share last year. Revenue rose to $51.14 million from $38.48 million. Analysts had expected a loss of $0.14 per share on revenue of $45.73 million. For the fiscal 2012, Alkermes expects loss of $36 million to $45 million or $0.38 to $0.47 per share. and revenue of $205 million to $229 million, while Street predicts a loss of $0.30 per share on revenue of $213.65 million.

Orbotech Ltd. (ORBK) stock slid 4.82 percent to $13.02 in the after-market trading. The company said it intends to sell 6.70 million of its ordinary shares to the public through an offering. Orbotech has also granted the underwriters a 30-day option to buy up to 1.01 million additional ordinary shares to cover over-allotments, if any. The company said it intends to use the net proceeds of the offering for general corporate purposes.

Orbotech said J.P. Morgan Securities LLC and Barclays Capital Inc. are acting as joint book-running managers; RBC Capital Markets, LLC is acting as senior co-manager; and Needham & Company, LLC and Oppenheimer & Co. are acting as co-managers of the Offering, which will be made under an effective shelf registration statement.

Brightpoint Inc. (CELL) stock declined 3.87 percent to $8.69 in the after-market trading.