Wednesday's Winners & Losers: Chaparral Steel

Updated from 11:35 a.m. EDT

Chaparral Steel(CHAP Quote) was among the Nasdaq's winners Wednesday, as shares jumped 12.3% after the steel-beam maker said that it is exploring strategic alternatives, including the possible sale of the company.

The company, which has hired Goldman Sachs to help in the review process, said other alternatives include strategic partnerships, acquisitions, recapitalizations or mergers. "The company will only pursue transactions that reflect the full value of this great company," the company said. "To capture that value, all strategic alternatives will be considered." Shares closed up $7.90 to $71.87.

Arkansas Best(ABFS Quote) rose 5.9% after the transportation company posted better-than-expected first-quarter results. The company earned $4.8 million, or 19 cents a share, on revenue of $422.6 million. Analysts polled by Thomson Financial expected earnings of 15 cents a share on revenue of $414.8 million. During the year-earlier quarter, the company earned $5.8 million, or 23 cents a share, on revenue of $425 million. Shares closed up $2.32 to $41.52. ...