The top pre-market NASDAQ stock market gainers are: Arena Pharmaceuticals, Tibco Software, ARM Holdings, Nova Measuring Instruments, Ariad Pharmaceuticals, YRC Worldwide,, Activision Blizzard, Popular, and Huntington Bancshares.

Arena Pharmaceuticals, Inc. (ARNA) surged 10.29 percent to $2.25 in the pre-market trading. The company and Eisai Inc. announced the completion of an end-of-review meeting with the FDA for the lorcaserin new drug application. The company is executing several activities and expects to resubmit the lorcaserin new drug application by the end of 2011. As the company continues discussions with the FDA to refine elements of its plan, it may identify ways to shorten the timeline.

Tibco Software, Inc. (TIBX) advanced 5.05 percent to $22.25 in the pre-market session. The company's fourth quarter adjusted profit was $53.8 million or 31 cents a share, up from $39.2 million or 23 cents a share last year. Revenue rose to $241.2 million from $195.6 million. Analysts had expected profit of 28 cents a share on revenue of $228.44 million.

Tibco Software said its board of directors has authorized a new share repurchase program pursuant to which the company may repurchase up to $300 million of its outstanding common stock. The program replaces the company's previous $300 million share repurchase program, under which about $159 million was still remaining.

ARM Holdings plc (ARMH) jumped 3.44 percent to $20.46 in the pre-market trading. Microsoft Corp. (MSFT) plans to unveil a version of its operating software that runs for the first time on processors designed by UK-based ARM Holdings, the Wall Street Journal and Bloomberg reported. ARM's processors dominate the tablet and handheld device market.

Nova Measuring Instruments Ltd. (NVMI) soared 3.29 percent to $8.16 in the pre-market trading. The company said a major foundry recently placed $10 million orders for its integrated and standalone metrology tools to support manufacturing and development for both the 4x and 3x technology nodes. The company expects to ship these orders in the first and second quarters of 2011.

Ariad Pharmaceuticals Inc. (ARIA) climbed 3.27 percent to $5.37 in the pre-market session. The stock reached a new 52-week high of $5.35 during Tuesday's regular session.

YRC Worldwide Inc. (YRCW) improved 3.23 percent to $3.83 in the pre-market session. The company said it amended its credit agreement and asset-backed securitization facility to extend extend the deferral of credit agreement interest and fees through mid-May 2011 and interest and fees under the ABS facility through May 31, 2011.

YRC Worldwide said the amendment requires the company to reach an agreement in principal to recapitalize its balance sheet by Feb. 28, complete final documentation by Mar. 15 and close by May 13. Inc. (PCLN) grew 1.84 percent to $414.50 in the pre-market session. Brokerage firm ThinkEquity upgraded its rating on shares of the company to 'buy' from hold' and increased its price target to $530 from $450.

The brokerage sees continued strength in the travel industry, and expects to continue international share gains. The brokerage also sees strong fourth quarter travel demand, especially in Europe. The company remains well-positioned for continued international market share gains on its supplier-friendly hotel models and attractive consumer offerings.

Activision Blizzard, Inc. (ATVI) increased 1.39 percent to $12.40 in the pre-market session. The company is seeking $400 million damages from Electronic Arts Inc. (ERTS) in a lawsuit related to its 'Call of Duty' video game franchise, according to a court filing. Activision sought to add Electronic Arts as a defendant in a case against two former executives who developed the video game franchise.

Separately, Activision Blizzard said 'Call of Duty: Black Ops' has crossed the $1 billion mark in worldwide sales since its launch last month. For full story please click here.

Popular Inc. (BPOP) gained 1.36 percent to $2.98 in the pre-market trading. The company's board of directors declared monthly cash dividends of $0.1328125 a share of 6.375 percent Non-cumulative Monthly Income Preferred Stock 2003, Series A, and of $0.171875 per share of 8.25 percent Non-cumulative Monthly Income Preferred Stock, Series B, to be paid on Dec. 31 to holders of record as of Dec. 28.

Huntington Bancshares Inc. (HBAN) rose 1.19 percent to $6.78 in the pre-market session.