Tuesday's Late Winners & Losers

Footwear maker

Nike

(NKE) - Get Report

was among the biggest earnings-fueled winners in somewhat mixed after-hours trading Tuesday.

Shares of the Beaverton, Ore., company jumped 4.4% to $56.20 after reporting a 34.4%

year-over-year earnings surge

to 86 cents a share in the fiscal fourth quarter. Revenue climbed 9.4% to $4.38 billion, coming in ahead of Thomson Financial's $4.36 billion average estimate.

Spectrum Control

(SPEC)

jumped 7.3% after the small-cap company, which makes systems for electronic-performance control, made 20 cents a share in the quarter ended May 31 -- 7 cents higher than last year and 2 cents better than the only analyst's estimate. Shares of the Fairview, Pa., company were up $1.01 at $14.88.

California's

Oracle

(ORCL) - Get Report

was also ticking up recently on the heels of

better-than-expected financials

in the fiscal fourth quarter. The database- and application-software developer said non-GAAP per-share income shot up 28% to 37 cents from last year, besting Street estimates by 2 cents. Sales for the quarter likewise edged out the mean target. Shares slid immediately after the close but were lately up 28 cents, or 1.5%, to $19.44.

Starkly on the postbell downswing, however, was biopharma

Nuvelo

(NUVO)

. Shares of the San Carlos, Calif., company plummeted some 20% after the termination of its year-and-a-half-long collaboration with a

Bayer

(BAY)

subsidiary for development of alfimeprase, a potential treatment for stroke and other blood-clot-related disorders. Bayer will pay Nuvelo $15 million in order to waive its obligation to give 12 months' notice prior to contract termination.

Alfimeprase, which is Nuvelo's lead investigational-product candidate, yielded

disappointing late-phase results

late last year, but the company intends to conduct further testing on the drug and related delivery systems in the second half of the year. Bayer has a one-time option, on initiation of a pivotal stroke trial, to reacquire rights to the drug for $15 million.

Nuvelo shares were trading at $2.67. Bayer was unchanged after ending the regular session at $74.11.

GSI Commerce

(GSIC)

, of King of Prussia, Pa., was also sliding after the e-commerce business-services company said it will offer $100 million in unsecured convertible senior bonds, with an initial purchaser's option for up to another $15 million worth to cover overallotments. The funds will go to general corporate purposes, including possible acquisitions. Shares were losing 5.6% to $23.