The top after-market NASDAQ Stock Market gainers are: Openwave Systems, GTX, Skullcandy, EV Energy Partners, and Arris Group. The top after-market NASDAQ Stock Market losers are: Optimer Pharmaceuticals, Keynote Systems, Entropic Communications, Glu Mobile, and Skyworks Solutions.

Gainers

Openwave Systems Inc. (OPWV) stock jumped 36.31 percent to $2.14 in the after-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.

GTX Inc. (GTXI) stock climbed 10.24 percent to $4.20 in the after-market trading. The shares regained after a 6.39 percent fall during Thursday's regular trading. Meanwhile, the company is scheduled to report its third quarter earnings results on Friday before the market opens. Street analysts are expecting GTX to report a loss of $0.18 per share on revenue fo $1.36 million for the third quarter, compared to last year's loss of $0.24 and revenue of $1.30 million.

Skullcandy, Inc. (SKUL) stock grew 9.22 percent to $16.70 in the after-market trading. Adjusted profit for the third quarter was $4.55 million or $0.17 per share, up from $2.58 million or $0.13 per share last year. Sales grew to $60.64 million from $38.49 million. Analysts had expected profit of $0.14 per share on revenue of $50.62 million. Looking ahead into the fiscal 2011, the company raised its earnings guidance to about $0.78 per share from previous forecast of about $0.65 per share. The company also increased its 2011 revenue outlook to about $231 million from previous range of $208 million to $218 million. Street analysts predict profit of $0.90 per share on revenue of $217.33 million for the fiscal 2011.

EV Energy Partners LP (EVEP) stock gained 8.98 percent to $79.25 in the after-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 acquisition 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.

Arris Group Inc. (ARRS) stock increased 8.84 percent to $11.70 in the after-market trading.

Losers

Optimer Pharmaceuticals, Inc. (OPTR) stock plunged 11.20 percent to $13 in the after-market trading. Loss for the third quarter widened to $26.4 million or $0.57 per share from $11.8 million or $0.30 per share last year. Revenue rose to $11.1 million from $669,137. Analysts had expected a loss of $0.52 per share on revenue of $5.44 million.

Keynote Systems Inc. (KEYN) stock fell 10.40 percent to $22.40 in the after-market trading. Adjusted profit for the fourth quarter was $4.9 million or $0.27 per share, up from $2.4 million or $0.16 per share last year. Revenue rose to $27.5 million from $20.51 million. Analysts had expected profit of $0.29 per share on revenue of $26.48 million. The company's board approved a quarterly cash dividend of $0.06 per common share, payable Dec. 15 to common stockholders of record Dec. 1. Looking ahead into the first quarter, the company expects adjusted earnings of $0.22 to $0.28 per share and revenue of $30.5 million to $32 million, including about $4.5 million from Keynote-DeviceAnywhere, while Street predicts profit of $0.27 per share on revenue of $28.99 million.

Entropic Communications, Inc. (ENTR) stock tumbled 8.09 percent to $5.45 in the after-market trading. Adjusted profit for the third quarter was $10.4 million or $0.12 per share, down from $14.5 million or $0.18 per share last year. Revenue fell 16 percent to $51.5 million. Analysts had expected profit of $0.11 per share on revenue of $51 million.

As we look forward, we believe we will benefit from continued HDTV, DVR and multi-room DVR penetration worldwide, as well as the paradigm shift toward streaming IP-based video and multimedia content and services into and throughout the home. In addition, our recent strategic investment and joint development agreement with Zenverge positions us to capitalize on the rising consumer demand to have video content delivered to portable devices, such as tablets, smartphones and laptops - in the home or on the go, said Patrick Henry, chief executive officer of Entropic Communications.

Glu Mobile, Inc. (GLUU) stock slid 6.56 percent to $3.42 in the after-market trading. Loss for the third quarter widened to $6.16 million or $0.10 per share from $1.60 million or $0.04 per share last year. Adjusted loss widened to $1.28 million or $0.02 per share from $411,000 or $0.01 per share last year. Revenue rose to $16.91 million from $15.47 million, while adjusted revenue grew to $17.79 million from $15.35 million. Analysts had expected a loss of $0.12 per share on revenue of $15.74 million. Looking ahead into the fourth quarter, Glu Mobile expects adjusted loss of $0.10 to $0.12 per share and adjusted revenue of $16 million to $17 million, while Street predicts a loss of $0.12 per share on revenue of $16.80 million.

Skyworks Solutions Inc. (SWKS) stock declined 6.10 percent to $19.25 in the after-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.

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