The top pre-market NASDAQ Stock Market gainers are: Polycom, OmniVision Technologies, Changyou.com, Sohu.com, and Avanir Pharmaceuticals. The top pre-market NASDAQ Stock Market losers are: Orexigen Therapeutics, SanDisk, Micron Technology, and Huntington Bancshares.

Gainers

Polycom, Inc. (PLCM) stock jumped 9.85 percent to $57.01 in the pre-market trading, as its first quarter earnings and revenue exceeded Street view. Adjusted profit was $43 million or 48 cents a share, up from $25 million or 29 cents a share last year. Revenue grew to $344 million from $276 million. Analysts had expected profit of 42 cents a share on revenue of $337.80 million. Polycom attributed the growth to good demand for its video and voice services in main markets such as U.S. and Europe, and robust improvement in emerging markets such as India and China, which rank among the fastest growing economies.

OmniVision Technologies Inc. (OVTI) stock grew 7.53 percent to $35 in the pre-market trading.

Changyou.com Ltd. (CYOU) stock gained 6.84 percent to $42.50 in the pre-market trading, as its first quarter earnings and revenue exceeded Street view. Profit was $52.9 million or $0.99 per American Depository Shares (ADS), up from $39.7 million or $0.75 per ADS last year. Adjusted profit was $54.6 million or $1.02 per ADS, up from $42.7 million or $0.80 per ADS last year. Revenue grew 35 percent to $97.1 million. Analysts had expected profit of $0.92 per ADS on revenue of $94.36 million.

Changyou.com expects second quarter adjusted earnings of $0.92 to $0.95 per ADS and revenue of $97 million to $100 million, including online games revenues of $95.0 million to $97.0 million. The company said the above guidance excludes the acquisition of 7Road. Street analysts predict profit of $0.90 per ADS on revenue of $97.25 million.

Separately, Changyou.com said it recently has agreed to buy 68.258 percent of the equity of Shenzhen 7Road Technology for about $68.26 million in cash. The consideration would also include additional variable cash consideration of up to a maximum of $32.76 million, subject to certain performance milestones through December 31, 2012. The deal is expected to be completed by June 30. Changyou.com is the online-games subsidiary of Sohu.com.

Sohu.com Inc. (SOHU) stock increased 5.03 percent to $100.50 in the pre-market trading, as its first quarter earnings and revenue exceeded Street view. Profit was $44.8 million or $1.01 a share, up from $30.2 million or $0.73 a share last year. Adjusted profit was $49.7 million or $1.13 a share, up from $33.8 million or $0.86 a share last year. Revenue rose to $174.4 million from $129.5 million. Analysts had expected profit of $0.96 a share on revenue of $168.8 million.

Sohu.com expects second quarter adjusted earnings of $1.13 to $1.18 a share and revenue of $188 million to $193 million, while Street predicts profit of $1.10 a share on revenue of $183.36 million.

Avanir Pharmaceuticals (AVNR) stock rose 4.02 percent to $4.40 in the pre-market trading.

Losers

Orexigen Therapeutics, Inc. (OREX) stock slid 2.84 percent to $3.08 in the pre-market trading.

SanDisk Corp. (SNDK) stock moved down 0.49 percent to $48.75 in the pre-market trading. Profit for the first quarter was $224 million or $0.92 a share, down from $235 million or $0.99 a share last year. Adjusted profit was $251 million or $1.03 a share, up from $225 million or $0.95 a share last year. Revenue rose to $1.29 billion from $1.08 billion. Analysts had expected profit of $0.99 a share on revenue of $1.26 billion.

Micron Technology Inc. (MU) stock moved down 0.26 percent to $11.49 in the pre-market trading.

Huntington Bancshares Inc. (HBAN) stock moved down 0.15 percent to $6.67 in the pre-market trading.

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