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Tuesday's Late Winners & Losers

Cypress Bioscience surges on strong results for a proposed fibromyalgia treatment.

The most heavily traded stocks were mixed after the closing bell Tuesday, and leading the winners by a wide margin was San Diego-based biotech

Cypress Bioscience

(CYPB)

.

Shares rocketed 87.1% to $15.81 in extremely heavy trading after it and

Forest Laboratories

(FRX)

announced positive results from a late-phase trial.

The companies said that milnacipran, which is already approved to treat depression, showed statistically significant results in treating fibromyalgia syndrome -- a chronic and painful condition that causes stiffness, severe fatigue and insomnia. Forest shares jumped 8.2% to $56.15.

Aluminum-products makers

Alcan

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and

Alcoa

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were up more than 2.5% each after Alcan's board

unanimously rejected

the latter's recent hostile takeout bid, worth roughly $27 billion in cash and stock.

Shanda Interactive Entertainment

TheStreet Recommends

(SNDA)

, a China-based online-games developer, rose 3.4% to $29.60 after earning 36 cents per American depositary share (non-GAAP) in the first quarter. This is 7 cents higher than the average Wall Street estimate, according to Thomson Financial.

Minneapolis medical-equipment maker

Medtronic

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climbed 3.3% to $52.47 after coming in 4 cents above the mean target with non-GAAP earnings of 66 cents a share, or $767 million, in the quarter ended April 27.

Semiconductor maker

Advanced Analogic Technologies

(AATI)

of Sunnyvale, Calif., was also on the rise after announcing it had "prevailed" in a patent-infringement case brought by

Linear Technology

(LLTC)

. AnalogicTech said all of Linear's claims were found "either non-infringed or invalid" in an "initial determination" by the International Trade Commission. The final determination should issue by Sept. 22. Linear, for its part, traded down 1% to $36.77 in recent extended trading.

Among others on the postclose downswing,

Analog Devices

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fell after predicting fiscal third-quarter income of 37 cents to 41 cents a share (excluding items) on sales ranging between $655 million and $685 million, which

leans to the lower end

of consensus. The Norwood, Mass., semiconductor company bested targets for the quarter ended May 5, but shares still slid 6% to $38.