The top pre-market NASDAQ Stock Market gainers are: Openwave Systems, EV Energy Partners, AMAG Pharmaceuticals, ARM Holdings, and VIVUS. The top pre-market NASDAQ Stock Market losers are: Central European Distribution, Seattle Genetics, A123 Systems, Skyworks Solutions, and Fushi Copperweld.

Gainers

Openwave Systems Inc. (OPWV) stock jumped 29.94 percent to $2.04 in the pre-market trading. The company said Microsoft Corp. (MSFT) agreed to license Openwave's patent portfolio. Microsoft becomes the first company to license Openwave's portfolio of about 200 patents, including several foundational patents covering smart device and cloud technologies, among others.

This agreement demonstrates the importance of Openwave’s patent portfolio, as well as Openwave’s ability to execute on its previously announced patent licensing strategy, said Mike Mulica, chief executive officer of Openwave Systems. Moving forward, we intend to continue to invest in developing our industry leading technology, to collaborate with others, to bring new innovations to market, and to protect our intellectual property.

Separately, Openwave Systems reported first quarter earnings of $2.64 million or $0.03 per share, up from $71,000 or break-even per share last year. Adjusted earnings were $9.33 million or $0.11 per share, compared to a loss of $419,000 or break-even per share last year. Revenue grew 26 percent to $52.40 million. Analysts had expected a loss of $0.07 per share on revenue of $34.3 million.

EV Energy Partners LP (EVEP) stock grew 8.98 percent to $79.25 in the pre-market trading. The shares regained after a 4.24 percent fall during Thursday's regular trading due to its and certain institutional partnerships managed by EnerVest Ltd.'s agreement with two unrelated companies to buy over $1.2 billion of oil and natural gas properties located in the Barnett Shale. The first acquisition is for $975 million from Encana Oil & Gas (USA) Inc., a subsidiary of Encana Corp., and the second is a $233 million acquisition from an undisclosed private seller. EV Energy will acquire an approximate 31 percent interest in both acquisitions for a combined $372.3 million.

AMAG Pharmaceuticals, Inc. (AMAG) stock gained 5.45 percent to $14.50 in the pre-market trading. Loss for the third quarter narrowed to $16.63 million or $0.78 per share from $17.0 million or $0.81 per share last year. Revenue rose to $17.56 million from $16.89 million. Analysts had expected a loss of $1.00 per share on revenue of $16.22 million.

Separately, the company said its board of directors is committed to the evaluation of all strategic options to enhance stockholder value, while management focuses on strategies to increase Feraheme revenues. The company implemented a broad restructuring plan to align operating expenses with near-term revenue projections for Feraheme Injection for Intravenous (IV) use. The plan, including an approximate 25 percent reduction in positions, is expected to decrease the company’s operating expenses, excluding cost of goods sold, by $20 - $25 million in 2012 as compared to 2011. In addition, the planned completion of the company’s phase 3 clinical program for a broad iron deficiency anemia (IDA) indication is expected to further reduce operating expenses by about $20 million in 2012.

As a result of these two actions, AMAG’s estimated operating expenses, excluding cost of goods sold, in 2012 are expected to be $90 million to $100 million, of which $50 million to $55 million are expected to be selling, general and administrative expenses. The company expects to end 2012 with $215 million to $225 million in cash, cash equivalents and investments, including $33 million in milestone payments related to the expected approval and launch of Feraheme in the EU and Canada. AMAG expects to incur about $3.2 million in charges associated with the restructuring, the majority of which is expected to be recognized during the fourth quarter.

Additionally, AMAG said Brian Pereira has resigned from his position as president, chief executive officer and a director of the company, effective immediately. Pereira will remain a key strategic advisor to the company on certain matters, including the ongoing development and regulatory work related to its broad phase 3 program for patients with IDA. AMAG also announced the departure of Gary Zieziula, the company’s chief commercial officer, effective immediately. AMAG promoted Frank Thomas, its chief financial officer, to the position of chief operating officer and appointed him as the interim president and chief executive officer. The company has concurrently launched a search for a permanent chief executive officer.

ARM Holdings plc (ARMH) stock gained 4.28 percent to $30.72 in the pre-market trading.

VIVUS Inc. (VVUS) stock increased 3.79 percent to $9.85 in the pre-market trading. The company said that results from the 56-week EQUIP study were published in Obesity, the peer-reviewed journal of The Obesity Society. The EQUIP study evaluated the efficacy and safety of the investigational drug Qnexa in 1,267 severely obese (BMI >/= 35 kg/m2) patients across 91 sites in the US. In addition to average weight loss of 14.4 percent of initial body weight among those who completed the study at the top dose of Qnexa, severely obese patients had improvements in blood pressure, glucose, triglycerides and cholesterol. The results with Qnexa suggest the potential to effectively treat severely obese patients without surgery. Patients in the study had a baseline body mass index of >/= 35 kg/m2, and an average initial weight of 256 pounds. Treatment was well tolerated, with no evidence of serious adverse events induced by treatment.

Losers

Central European Distribution Corp. (CEDC) stock plunged 25 percent to $3.78 in the pre-market trading. Comparable earnings from continuing operations for the third quarter were $4.21 million or $0.06 per share, down from $8.47 million or $0.12 per share last year. Sales rose to $228.85 million from $157.76 million. Analysts had expected profit of $0.20 per share on revenue of $230.82 million. Looking ahead into the full year 2011, the company lowered its comparable earnings guidance to range of $0.25 to $0.45 per share from previous forecast of $0.80 to $1.00 per share. The company also reduced its 2011 revenue outlook to range of $850 million to $950 million from previous range of $900 million to $1.05 billion. Street analysts predict profit of $0.60 per share on revenue of $950.07 million.

Seattle Genetics Inc. (SGEN) stock fell 12.57 percent to $19.20 in the pre-market trading. Loss for the third quarter widened to $40.7 million or $0.35 per share from $34.9 million or $0.34 per share last year. Revenue rose to $20.7 million from $16 million. The latest quarter revenue included Adcetris net product sales of $10.0 million. Analysts had expected a loss of $0.46 per share on revenue of $13.6 million.

A123 Systems, Inc. (AONE) stock tumbled 12.18 percent to $3.10 in the pre-market trading. The company lowered its full year 2011 revenue outlook to range of $165 million to $180 million from previous forecast of $210 million to $225 million, while Street predicts $202.21 million. The company reduced its full year revenue guidance due to unanticipated developments that will impact fourth quarter revenue. This reduction in full-year revenue guidance would be reflected principally in the fourth quarter.

Our relationship with Fisker remains strong, and we expect that this reduction in volume is temporary as we understand the Karma plug-in hybrid electric vehicle has received EPA certification as well as an all-electric range rating of 51.6 miles from the European regulatory body Technischer Ueberwachungs Verein (TUV), clearing the way for vehicles sales. We are executing a plan that we believe will manage costs in the near term while allowing us to maintain the manufacturing and operational capabilities required to quickly ramp up production, said David Vieau, CEO of A123 Systems.

Skyworks Solutions Inc. (SWKS) stock slid 6.34 percent to $19.20 in the pre-market trading. Adjusted earnings for the fourth quarter were $103.82 million or $0.54 per share, up from $78.78 million or $0.43 per share last year. Revenue rose to $402.32 million from $313.28 million. Analysts had expected profit of $0.53 per share on revenue of $400.80 million. Looking ahead into the first quarter, the company expects adjusted earnings of $0.50 per share and revenue of $390 million, while Street predicts profit of $0.53 per share on revenue of $415.49 million.

Fushi Copperweld, Inc. (FSIN) stock declined 5.45 percent to $6.77 in the pre-market trading.