The top pre-market NASDAQ Stock Market gainers are: Cephalon, Netlist, Achillion Pharmaceuticals, ClickSoftware Technologies, and Glu Mobile. The top pre-market NASDAQ Stock Market losers are: China Information Technology, Golar LNG, Tibco Software, EDAP TMS, Vodafone Group, and Dell.

Gainers

Cephalon Inc. (CEPH) stock jumped 29.36 percent to $76 in the pre-market trading, as Valeant Pharmaceuticals International, Inc. (VRX) seeks to take over Cephalon for about $5.7 billion or $73 per share in cash, after Valeant's earlier proposals were rejected. Cephalon confirmed Tuesday the receipt of three unsolicited acquisition offers from Valeant to acquire whole of it or only its non-oncology related assets.

After confirming receipt of the offers, Cephalon said it is working with its financial advisers to review and consider each proposal, and that its board will consider the offers with a plan to respond next week. Cephalon advises shareholders that they need not take any action at this time in response to Valeant's proposal and that they should wait for the response of the Cephalon Board of Directors.

Netlist Inc. (NLST) stock climbed 12.40 percent to $2.72 in the pre-market trading, as it received additional patents for HyperCloud Memory Innovations. The company said the United States Patent and Trademark Office has recently issued to Netlist U.S. Patent No. 7,864,627 entitled Memory Module Decoder, U.S. Patent No 7,881,150 entitled Circuit Providing Load Isolation and Memory Domain Translation for Memory Module, and U.S. Patent No 7,916,574, a continuation of the '150.

Netlist said these patents add to company's growing intellectual property portfolio protecting the company's HyperCloud innovations that utilize rank multiplication and load reduction technologies.

Achillion Pharmaceuticals, Inc. (ACHN) stock advanced 7.80 percent to $7.60 in the pre-market trading, as its drug to treat patients with chronic hepatitis C infection showed strong antiviral activity in a mid-stage trial. The company revealed top-line results from its on-going Phase 2a clinical trial of ACH-1625 dosed once daily in combination with Pegasys and Copegus, a current standard of care in patients with chronic hepatitis C infection. ACH-1625 is an inhibitor of HCV NS3 protease that was discovered by and is being developed by Achillion.

The analysis showed that 75 percent to 81 percent of patients receiving ACH-1625 achieved rapid virologic response (RVR) with a promising safety and tolerability profile. Moreover, the preliminary safety profile of ACH-1625 continues to support future plans to combine this protease inhibitor with other directly acting antiviral agents. Achillion expects to initiate during 2012 a clinical trial evaluating ACH-1625 in combination with ACH-2928, an internally discovered and developed NS5A inhibitor.

ClickSoftware Technologies Ltd. (CKSW) stock gained 5.88 percent to $8.46 in the pre-market trading.

Glu Mobile, Inc. (GLUU) stock grew 4.68 percent to $4.25 in the pre-market trading. The company announced today the implementation of In-app purchases (IAPs) into several of Glu's leading games on the Android platform. As one of the first freemium game publishers to launch IAPs for Android games, Glu continues to provide a superior gaming experience while driving new revenue and customer acquisition.

Losers

China Information Technology, Inc. (CNIT) stock plunged 5.17 percent to $2.75 in the pre-market trading.

Golar LNG Ltd. (GLNG) stock fell 4.14 percent to $23.30 in the pre-market trading.

Tibco Software, Inc. (TIBX) stock fell 1.75 percent to $25.81 in the pre-market trading, as its second quarter revenue outlook implied a slowing growth. The company expects second quarter revenue of $195 million to $200 million and adjusted earnings of 17 cents to 18 cents a share, while Street predicts profit of 18 cents a share on revenue of $194.85 million. Second quarter revenue guidance implied a growth rate of 12.5 percent to 15.4 percent, but last year's revenue grew 21 percent and in the two subsequent quarters it grew 23 percent.

Tibco posted first quarter adjusted earnings of $27.3 million or 16 cents a share, up from $20 million or 12 cents a share last year. Revenue grew 20 percent to $185.3 million. Analysts had expected profit of 15 cents a share on revenue of $182.68 million.

EDAP TMS SA (EDAP) stock moved down 0.83 percent to $3.60 in the pre-market trading.

Vodafone Group plc (VOD) stock moved down 0.55 percent to $29.06 in the pre-market trading.

Dell Inc. (DELL) stock moved down 0.47 percent to $14.70 in the pre-market trading. Dell, Equinix, Inc. (EQIX) and Rackspace Hosting, Inc. (RAX) announced that they have collaborated to develop an OpenStack cloud demonstration and test environment. The demo environment will be available in three data centers: the Equinix International Business Exchange (IBX) in Silicon Valley, California, and Ashburn, Virginia, and the Rackspace data center in Chicago, Illnois. The companies also plan to collaborate on additional demo environments in Equinix data centers in Europe and Asia in the second quarter of 2011.

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