The top after-market NASDAQ stock market gainers are: Terremark Worldwide, Oplink Communications, TeleNav, Coherent, SAVVIS, Lattice Semiconductor, Internap Network Services, ScanSource, Varian Semiconductor Equipment Associates, and Equinix.

Terremark Worldwide Inc. (TMRK) stock jumped 35.30 percent to $19.01 in the after-market trading, following its deal to be acquired by Verizon Communications Inc. (VZ) for $19 a share in cash or a total equity value of $1.4 billion. Verizon expects it would begin a tender offer between Feb. 10 and Feb. 17 for all common shares of Terremark.

Verizon has also agreed with three stockholders of Terremark to tender their shares into the offer, representing about 27.6 percent of the outstanding voting shares of Terremark. Verizon expects to close the tender offer late in the first quarter of 2011. Further, Verizon said it intends to operate the new unit as a subsidiary retaining the Terremark name and with Terremark's current management team continuing to manage the company.

Shares of Oplink Communications Inc. (OPLK) climbed 30.28 percent to $25.17 in the after-hours trading, following its better-than-expected second quarter earnings. Adjusted profit was $10.7 million or 52 cents a share, up 89 percent from $5.7 million or 26 cents a share last year. Revenue grew to $52.02 million from $32.74 million. Analysts had expected profit of 41 cents a share on revenue of $49.89 million. Oplink expects third quarter adjusted earnings of 49 cents to 55 cents a share and revenue of $52 million to $56 million, while Street predicts profit of 38 cents a share on revenue of $47.67 million.

TeleNav, Inc. (TNAV) stock advanced 12.21 percent to $8.27 in the after-market session, following its better-than-expected second quarter earnings and revenue. Profit was $10.04 million or 22 cents a share, up from $5.47 million or 19 cents a share last year. Adjusted earnings were 24 cents, down from 28 cents a share. Revenue rose 19 percent to $48.02 million. Analysts had expected profit of 17 cents a share on revenue of $46.21 million.

TeleNav expects third quarter adjusted earnings of 16 cents to 18 cents a share and revenue of $48 million to $50 million, while Street predicts 16 cents a share on revenue of $46.25 million. For fiscal 2011, the company raised adjusted earnings guidance to range of 84 cents to 88 cents a share from previous forecast of 70 cents to 78 cents a share. The company also increased revenue outlook to range of $195 million to $200 million from previous range of $187 million to $192 million. Analysts predict 2011 profit of 75 cents a share on revenue of $190 million.

Shares of Coherent Inc. (COHR) surged 11.22 percent to $52.75 in the after-hours session, following its higher-than-expected first quarter earnings. Adjusted profit was $21.4 million or 85 cents a share, up from $5.1 million or 21 cents a share last year. Sales rose to $183.11 million from $122.81 million. Analysts had expected profit of 69 cents a share on revenue of $176.78 million. The company expects fiscal 2011 revenue of $760 million to $780 million, higher than analysts forecast of $715.96 million.

SAVVIS Inc. (SVVS) stock soared 8.96 percent to $28.95 in the after-market trading.

Shares of Lattice Semiconductor Corp. (LSCC) improved 8.46 percent to $6.44 in the after-hours trading, following its higher-than-expected fourth quarter earnings. Profit was $13.9 million or 11 cents a share, up from $5.6 million or 5 cents a share last year. Revenue rose 33 percent to $73.08 million. Analysts had expected profit of 8 cents a share on revenue of $73.59 million. The company expects first quarter revenue growth of 2 percent to 7 percent on sequential basis.

Internap Network Services Corp. (INAP) stock grew 7.46 percent to $7.49 in the after-market session.

Shares of ScanSource, Inc. (SCSC) increased 7.22 percent to $36.40 in the after-hours session, following its higher-than-expected second quarter earnings. Profit was $21.6 million or 80 cents a share, up from $12.0 million or 44 cents a share last year. Sales rose 25 percent to $684 million. Analysts had expected profit of 59 cents a share on revenue of $681.96 million. The company expects third quarter revenue of $630 million to $650 million, higher than analysts forecast of $590.35 million.

Varian Semiconductor Equipment Associates Inc. (VSEA) stock rose 6.11 percent to $46.20 in the after-market trading, following its second quarter guidance that came in above Street view. The company expects second quarter earnings of $1.02 to $1.07 a share and revenue of $315 million to $325 million, while Street analysts predict profit of $0.80 a share on revenue of $273.82 million.

Varian Semiconductor reported first quarter earnings of $71.9 million or 95 cents a share, up from $16.6 million or 22 cents a share last year. Revenue rose to $282.58 million from $141.27 million. Analysts had expected profit of 87 cents a share on revenue of $276.81 million.

Shares of Equinix, Inc. (EQIX) gained 5.53 percent to $92.53 in the after-hours trading.

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