The top after-market NASDAQ stock market gainers are: Exide Technologies, Herley Industries, Conexant Systems, CSP, and WSB Holdings. The top after-market NASDAQ stock market losers are: Glu Mobile, SunPower, Breitburn Energy Partners, PennantPark Investment, and Kratos Defense & Security Solutions.

Gainers

Exide Technologies (XIDE) stock jumped 18.56 percent to $12.39 in the after-market trading, as its third quarter earnings and revenue topped Street view. Adjusted profit was $27.4 million or 33 cents a share, up from $18.2 million or 23 cents a share last year. Profit was $31.2 million or 38 cents a share, up from $9.8 million or 12 cents a share last year. Sales rose to $800.3 million from $746.5 million. Analysts had expected profit of 25 cents a share on revenue of $741.60 million. The company gave a positive outlook for the future with recent customer wins and an improving market.

Shares of Herley Industries Inc. (HRLY) climbed 15.69 percent to $18.80 in the after-hours trading, following its deal to be acquired by Kratos Defense & Security Solutions, Inc. (KTOS) for $19 a share in cash. The deal, through an all-cash tender offer and second-step merger, will have a total value of about $270 million.

Kratos will begin a cash tender offer for Herley stock no later than Feb. 25 for $19 a share, without interest. After completion of the offer, Kratos will buy the balance outstanding shares of Herley stock for the same price, through a second-step merger. The transaction is expected to close during the first quarter of 2011, and is not conditioned on Kratos being able to obtain financing.

Separately, Levi & Korsinsky, LLP and Howard G. Smith said they are investigating into possible breaches of fiduciary duty and other violations of law by the board of Herley Industries in connection with the sale.

Conexant Systems Inc. (CNXT) stock advanced 14.56 percent to $2.40 in the after-market session, as it got an unsolicited, written proposal to be acquired by a private equity firm Golden Gate Private Equity Inc. for a price range of $2.35 to $2.45 a share in cash. Conexant's board has determined that the new proposal from Golden Gate would reasonably be expected to result in or lead to a superior proposal, and has authorized the company to enter into discussions regarding the new proposal.

Conexant reported first quarter loss of $9.7 million or 12 cents a share, compared to profit of $8.3 million or 14 cents a share last year. Core loss was $1.4 million or 2 cents a share, compared to profit of $10 million or 17 cents a share last year. Revenue decreased to $46.1 million from $61.8 million.

Shares of CSP Inc. (CSPI) gained 7.50 percent to $4.30 in the after-hours session, following its first quarter earnings. Profit was $385,000 or 11 cents a share, compared to a loss of $737,000 or 21 cents a share last year. Sales rose to $22.1 million from $18.7 million.

Looking forward, CSP plans to continue to make progress at its Service and Systems Integration segment in attracting higher-margin consulting, as well as solutions and managed services business. CSP expects this effort to contribute positively to its margin performance for the remainder of fiscal 2011 and beyond.

At our Systems segment, we are well positioned with innovative new products to capitalize on the military’s network-centric warfare priorities, as well as supporting the next Low Rate Initial Production Phases of the E2D program. In addition to driving organic growth through investment in new technologies, we also are committed to accelerating revenues by executing on our acquisition strategy, CSP Chief Executive Alexander Lupinetti said.

WSB Holdings, Inc. (WSB) stock increased 4.43 percent to $3.55 in the after-market trading.

Losers

Shares of Glu Mobile, Inc. (GLUU) plunged 7.78 percent to $3.20 in the after-hours trading, on its weak first quarter guidance. The company guided first quarter loss of 11 cents per basic share, and adjusted loss of 7 cents per basic share. The company projects revenue of $13.7 million to $14.2 million and adjusted revenue of $14 million to $14.5 million. An analyst predicts loss of 4 cents a share on revenue fo $14.64 million.

Glu Mobile posted fourth quarter loss of $4.95 million or 11 cents a share, narrower than $6.91 million or 23 cents a share last year. Adjusted loss narrowed to $1.1 million or 2 cents a share from $3.9 million or 13 cents a share last year. Revenue declined to $15.6 million from $19.1 million, while adjusted revenue decreased to $15.5 million from $19.4 million. An analyst has expected a loss of 8 cents a share on revenue of $14.03 million.

SunPower Corp. (SPWRB) stock lost 4.53 percent to $14.74 in the after-market trading.

Shares of Breitburn Energy Partners LP (BBEP) fell 4.46 percent to $21.19 in the after-hours session, following its commencement of public offering of 4 million common units representing limited partner interests in the Partnership. The company plans to grant the underwriters a 30-day option to buy up to an additional 600,000 common units if the underwriters sell more than 4 million common units in the offering. The company plans to use the net proceeds to repay indebtedness outstanding under its existing revolving credit facility.

PennantPark Investment Corp. (PNNT) stock declined 4.21 percent to $12.50 in the after-market session, following its plan to make a public offering of 7.5 million shares of its common stock. The company expects to use the net proceeds for general corporate or strategic purposes, including repayment of outstanding indebtedness and funding investments in accordance with its investment objectives.

Shares of Kratos Defense & Security Solutions, Inc. (KTOS) decreased 3.28 percent to $13.55 in the after-hours trading, as it guided fourth quarter revenue below Street consensus. The company expects fourth quarter revenue of $120 million to $122 million, lower than analysts forecast of $124.13 million. Separately, the company said it plans to offer shares of its common stock in an underwritten public offering. All of the shares in the offering are to be sold by Kratos.

Kratos Defense & Security Solutions said it agreed to buy Herley Industries for $19 a share in cash. The deal, through an all-cash tender offer and second-step merger, will have a total value of about $270 million. Kratos will begin a cash tender offer for Herley stock no later than Feb. 25 for $19 a share, without interest.

After completion of the offer, Kratos will buy the balance outstanding shares of Herley stock for the same price, through a second-step merger. The transaction is expected to close during the first quarter of 2011, and is not conditioned on Kratos being able to obtain financing.

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