The top pre-market NASDAQ stock market gainers are: EXFO, Kandi Technologies, Strategic Diagnostics, Micron Technology, and NeurogesX. The top pre-market NASDAQ stock market losers are: SemiLEDs, DragonWave, Infosys Technologies, Veeco Instruments, and Aixtron.

Gainers

EXFO Inc. (EXFO) stock advanced 18.89 percent to $9 in the pre-market trading, following its higher first quarter earnings driven by a huge gain from the sale of Life Sciences and Industrial Division. Profit was $14.1 million or 23 cents a share, up from $0.3 million or 1 cent a share last year. Sales rose 48.5 percent to $67.6 million. Analysts had expected profit of 5 cents a share on revenue of $63.97 million.

EXFO expects second quarter earnings of 3 cents to 7 cents a share and sales of $70 million to $75 million. Street expects profit of 8 cents a share on revenue of $63.64 million for second quarter.

Shares of Kandi Technologies Corp. (KNDI) soared 6.34 percent to $5.03 in the pre-market session.

Shares Micron Technology Inc. (MU) increased 5.03 percent to $9.81 in the pre-market session.

Strategic Diagnostics Inc. (SDIX) stock gained 4.56 percent to $2.75 in the pre-market trading.

NeurogesX Inc. (NGSX) stock rose 4.43 percent to $5.89 in the pre-market trading.

Losers

SemiLEDs Corp. (LEDS) stock plunged 32.94 percent to $19.20 in the pre-market session, following its first quarter earnings results. Profit was $3.8 million or 11 cents a share, up from $0.4 million or breakeven a share last year. Excluding foreign exchange losses, profit for the latest quarter would have been $3.9 million or 12 cents a share. Revenue rose 94.1 percent to $13 million. The company expects fourth quarter profit of 6 cents to 9 cents a share and revenue of $10.5 million to $12.5 million.

Shares of DragonWave Inc. (DRWI) plummeted 15.59 percent to $7.31 in the pre-market trading, following its loss in third quarter. The company's loss was $0.05 million or breakeven a share, compared to profit of $1.2 million or 34 cents a share last year. Revenue declined to $27 million from $51.6 million. Analysts had expected a loss of 1 cent a share on revenue of $27.39 million. The company expects fourth quarter revenue of about $15 million, while analysts project $26.65 million.

Shares of Infosys Technologies Ltd. (INFY) declined 5.44 percent to $72.51 in the pre-market trading, following its third quarter earnings release. Profit was $397 million or 69 cents per American Depositary Share (ADS), up from $334 million or 59 cents per ADS last year. Revenue rose to $1.6 billion from $1.2 billion. Analysts had expected profit of 67 cents per ADS on revenue of $1.55 billion.

Infosys expects fourth quarter earnings of 69 cents to 70 cents per ADS and revenue of $1.601 billion to $1.617 billion, while analysts project profit of 68 cents per ADS on revenue of $1.60 billion.

For fiscal 2011, Infosys raised its earnings guidance to range of $2.60 to $2.61 per ADS from previous forecast of $2.54 to $2.58 per ADS. The company also increased 2011 revenue outlook to range of $6.04 billion to $6.06 billion from previous range of $5.95 billion to $6.00 billion. Street expects profit of $2.57 a share on revenue of $6 billion.

Veeco Instruments Inc. (VECO) stock decreased 4.47 percent to $47.45 in the pre-market session.

Shares of Aixtron AG (AIXG) moved down 4.17 percent to $42.09 in the pre-market trading.

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