Tuesday's Late Winners & Losers

Stocks lifted somewhat after the market's astonishingly low finish Tuesday, and one of the biggest winners was Semtech (SMTC), which jumped 8.2% on better-than-expected results.

The Camarillo, Calif., semiconductor company posted a fiscal second-quarter profit of $12.5 million, or 18 cents a share, (non-GAAP) on revenue of $67 million. On average, analysts polled by Thomson Financial were looking for just 14 cents a share on $63 million in revenue. Shares climbed $1.30 to $17.15.

Fellow tech stock Seagate Technology (STX), a hard-disc-drive maker based in Scotts Valley, Calif., vaulted its fiscal first-quarter earnings guidance range by 22 cents to between 62 cents and 66 cents a share. That's at least 19 cents above the mean Wall Street target. Shares climbed 5.5% to $25.80.

And San Diego's Accredited Home Lenders (LEND) gained on word Lone Star again extended its buyout offer for the subprime-mortgage lender, as required under the relevant merger agreement. Lone Star once again reiterated Accredited's continued "failure to satisfy" all of the conditions of the agreement, even though it has now received tendered shares representing some 74.2% of the company. At the time of the last extension, that ratio was at around 43%. Accredited shares leapt 8.9% at $6.36.

But PDL BioPharma (PDLI) was among Tuesday's postbell losers, plunging 17% after saying it plans to end its pivotal trial program for its proposed ulcerative colitis treatment, Nuvion. The Fremont, Calif., biopharma said this will be part of a larger refocus on cancer and select immunological diseases. Shares lost $4.01 to $19.59.