The top pre-market NASDAQ stock market gainers are: ValueClick, American Capital, Photronics, Fred's, Camtek, and Dell. The top pre-market NASDAQ stock market losers are: Warren Resources, Swisher Hygiene, Seahawk Drilling, PDL BioPharma, and LogMeIn.

Gainers

ValueClick, Inc. (VCLK) stock jumped 12.84 percent to $16.70 in the pre-market trading, as its first quarter guidance came in above Street view. The company projects first quarter adjusted earnings of 21 cents to 22 cents a share and revenue of $111 million to $113 million, while Street predicts profit of 17 cents a share on revenue of $107.89 million.

ValueClick reported fourth quarter adjusted earnings of $25.55 million or 31 cents a share, up from $21.62 million or 25 cents a share last year. Revenue rose 17 percent to $128.75 million. Analysts had expected profit of 23 cents a share on revenue of $125.06 million.

Shares of American Capital, Ltd. (ACAS) climbed 11.01 percent to $9.68 in the pre-market trading, as its fourth quarter earnings exceeded Street view. Operating earnings was $67 million or 19 cents a share, up from $19 million or 7 cents a share last year. Profit was $381 million or $1.08 a share, up from $107 million or $0.38 a share last year. Total operating income declined 15 percent to $143 million. Analysts had expected profit of 17 cents a share on revenue of $140.86 million.

Photronics Inc. (PLAB) stock soared 10.16 percent to $9 in the pre-market trading, as its first quarter earnings and revenue exceeded Street view. Adjusted profit was $12.2 million or 20 cents a share, up from $0.6 million or 1 cent a share last year. Sales rose 23 percent to $120.8 million. Analysts had expected profit of 13 cents a share on revenue of $111.71 million.

Fred's Inc. (FRED) stock gained 7.49 percent to $13.78 in the pre-market session.

Shares of Camtek Ltd. (CAMT) increased 6.98 percent to $4.29 in the pre-market trading, as it bagged an order for multiple wafer inspection systems from a manufacturer of CMOS Image Sensor. The order includes multiple Falcon systems for 2D inspection. The systems are expected to be installed during the first quarter of 2011. Camtek said its back-end inspection equipment would be used throughout the manufacturing process and would significantly contribute to improving the customer's yield.

Shares of Dell Inc. (DELL) rose 6.83 percent to $14.86 in the pre-market trading, as its fourth quarter earnings topped Street view. Adjusted profit was $1.02 billion or 53 cents a share, higher than $544 million or 28 cents a share last year. Revenue rose to $15.69 billion from $14.90 billion. Analysts had expected profit of 37 cents a share on revenue of $15.72 billion.

For the first quarter Dell expects normal seasonal declines in its consumer and public businesses and, as such, a slight sequential decline in revenue. Dell expects fiscal 2012 revenue to grow 5 percent to 9 percent, implying revenue of $64.56 billion to $67.02 billion, while Street predicts $64.46 billion.

Losers

Warren Resources Inc. (WRES) stock fell 7.05 percent to $4.88 in the pre-market trading. Brokerage firm KeyBanc Capital Markets downgraded its rating on the company to underweight from hold with a price target of $3.

Swisher Hygiene, Inc. (SWSH) stock slid 6.59 percent to $5.67 in the pre-market trading.

Shares of Seahawk Drilling, Inc. (HAWK) lost 6.38 percent to $4.55 in the pre-market session. The company received notice from NASDAQ Stock Market that the company's common stock will be delisted from NASDAQ after the company filed voluntary petition for relief under Chapter 11 of the United States Bankruptcy Code.

The notification advises the company that unless it requests an appeal of the delisting determination, trading of the Company's common stock will be suspended at the opening of business on February 24, 2011, and a Form 25-NSE will be filed with the Securities and Exchange Commission, which will remove the company's securities from listing and registration on NASDAQ.

In support of the delisting determination, NASDAQ identified the filing of the Bankruptcy Case, and the fact that following the sale of substantially all of the company's assets, as disclosed in the company's Report on Form 8-K filing filed with the SEC on February 14, 2011, the company may no longer have any operating business.

PDL BioPharma, Inc. (PDLI) stock declined 4.78 percent to $5.18 in the pre-market trading. The company paid MedImmune, LLC $65 million as per the definitive settlement agreement. The agreement resolves all legal disputes between PDL BioPharma and MedImmune, including those relating to MedImmune's product Synagis and PDL BioPharma's patents known as the Queen et al. Patents.

PDL BioPharma said it will pay $27.5 million by February 10, 2012 for a total settlement of $92.5 million. MedImmune has not paid royalties to PDL BioPharma on sales of Synagis that occurred after September 30, 2009. PDL BioPharma noted that no further payments will be owed by MedImmune to PDL BioPharma under its license to the Queen et al. patents as a result of past or future Synagis sales. As part of the settlement agreement, MedImmune consented not to challenge or assist other parties in challenging the Queen et al. Patents.

Shares of LogMeIn, Inc. (LOGM) declined 4.04 percent to $38.47 in the pre-market trading, as its first quarter guidance came in below Street view. The company projects first quarter adjusted earnings of 13 cents to 14 cents a share and revenue of $26.3 million to $26.6 million, while Street predicts profit of 15 cents a share on revenue of $26.90 million. The company expects fiscal 2011 adjusted profit of 68 cents to 73 cents a share and revenue of $116 million to $120 million, while Street predicts profit of 73 cents a share on revenue of $118.11 million.

LogMeIn posted fourth quarter adjusted earnings of $6.9 million or 28 cents a share, up from $3.5 million or 14 cents a share last year. Revenue grew 53 percent to $30.9 million. Analysts had expected profit of 24 cents a share on revenue of $29.67 million.

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