The top pre-market NASDAQ Stock Market gainers are: Focus Media Holding, BSD Medical, Brocade Communications Systems, NVIDIA, and E*TRADE Financial. The top pre-market NASDAQ Stock Market losers are: Netflix, Randgold Resources, ASML Holding, Amazon.com, and Shire.

Gainers

Focus Media Holding Ltd. (FMCN) stock jumped 13.48 percent to $17.51 in the pre-market trading. The company said it will host a conference call, in order to respond to allegations made in the Muddy Waters report, at 8:00 a.m. Eastern Time on Tuesday. Muddy Waters accused Focus Media Holding of significant overstatement of the number of screens in its LCD network, among other charges, according to Reuters. Muddy Waters said Focus Media has been fraudulently overstating the number of screens in its LCD advertising display network by about 50 percent, and put a strong sell recommendation on the company's stock. Muddy Waters said Focus Media reported in regulatory filings that it has 178,382 screens, while according to its media kit the company has fewer than 120,000. The firm also said the company has significantly and deliberately overpaid for deals and has written down $1.1 billion out of $1.6 billion in acquisitions since 2005, exceeding the company's enterprise value by a third.

BSD Medical Corp. (BSDM) stock climbed 12.09 percent to $3.43 in the pre-market trading.

Brocade Communications Systems, Inc. (BRCD) stock gained 6.92 percent to $4.79 in the pre-market trading. Adjusted earnings for the fourth quarter was $78.7 million or $0.16 per share, up from $64.7 million or $0.13 per share last year. Revenue rose to $550.5 million from $548.6 million. Analysts had expected profit of $0.10 per share on revenue of $527.38 million. Looking ahead into the first quarter, the company expects adjusted earnings of $0.12 to $0.14 per share and revenue of $530 million to $550 million, while Street predicts profit of $0.11 per share on revenue of $535.29 million. The company expects to see the full EPS benefit of the $200 million share repurchase in its first quarter results and anticipates using more of its available cash for debt reduction.

Brocade achieved outstanding results in Q4 that were led by record revenues for our Ethernet business, fast adoption of our 16 Gbps Fibre Channel products, improvements in profitability, and a record cash flow quarter from operations, said Michael Klayko, Chief Executive Officer of Brocade. These strong performances demonstrate that we are executing well on our long-term strategy. Looking at fiscal 2012, we plan to leverage this momentum along with our highly differentiated innovation strategy, expanding product portfolio, and our strong routes to market.

NVIDIA Corp. (NVDA) stock increased 2.39 percent to $14.98 in the pre-market trading.

E*TRADE Financial Corp. (ETFC) stock rose 2.14 percent to $8.58 in the pre-market trading.

Losers

Netflix, Inc. (NFLX) stock fell 4.55 percent to $71.08 in the pre-market trading. The company announced the pricing of concurrent common equity and convertible notes financings totaling $400 million. Both the offerings are scheduled to close on or about Nov. 28. Netflix has agreed to sell about 2.86 million shares of common stock pursuant to an effective registration statement at $70.00 per share, for $200 million gross proceeds. Concurrently, Technology Crossover Ventures or TCV has agreed to purchase $200 million of Zero Coupon Convertible Senior Notes due 2018 in a private placement. The Notes will be convertible into shares of Netflix at an initial conversion rate of 11.6553 shares per $1,000 principal amount of the notes. Netflix estimates net proceeds from the concurrent offerings will be about $397 million, after deducting offering expenses.

Randgold Resources Ltd. (GOLD) stock moved down 0.50 percent to $106.50 in the pre-market trading.

ASML Holding NV (ASML) stock moved down 0.50 percent to $37.85 in the pre-market trading.

Amazon.com Inc. (AMZN) stock moved down 0.41 percent to $188.48 in the pre-market trading.

Shire plc (SHPGY) stock moved down 0.37 percent to $94.3629 in the pre-market trading.