Updated from 12:02 p.m. EDT

Shares of

Fred's

(FRED)

were among the

Nasdaq's

losers Thursday after the company posted second-quarter financial results that were weaker than expected.

The discount-store operator posted a second-quarter profit of 8 cents a share on sales of $340.9 million. Analysts surveyed by Thomson First Call were expecting earnings of 9 cents a share on sales of $341.1 million. The company's results were affected by weaker-than-expected results in its apparel and home-furnishing categories as well as by higher diesel fuel costs. Shares of Fred's traded down $1.85, or 10.9%, to $15.07.

Coldwater Creek

(CWTR)

rose after it swung to a second-quarter profit on better-than-expected sales. The retailer of women's apparel, jewelry, and other accessories posted a second-quarter profit of 8 cents a share on sales of $111.2 million. Analysts were expecting break-even earnings on sales of $107.3 million. A year ago, the company posted a loss of 4 cents a share on sales of $96.7 million. Shares traded up $2.06, or 10.8%, to $21.15.

Shares of

Kirkland's

(KIRK) - Get Report

fell after the company posted second-quarter results that were in line but warned that third-quarter earnings and sales would fall well short of expectations. The specialty retailer of home decor posted a second-quarter loss of 14 cents a share on sales of $84.7 million. Looking ahead, the company warned that it would post a third-quarter loss of 10 cents to 15 cents a share on sales of $82 million to $86 million. Analysts had been expecting a profit of 6 cents a share on sales of $92.2 million. Shares of Kirkland's traded down $1.92, or 19.8%, to $7.78.

Boston Beer

(SAM) - Get Report

fell after the company said its earnings for the full-year would fall short of expectations because of its plans to boost advertising spending for its Samuel Adams Boston Lager and Sam Adams Light beers. The beer maker expects advertising, promotional and selling costs to increase by $2.5 million to $3.5 million vs. a year ago. As a result, the company now expects to post full-year earnings of 82 cents to 90 cents a share. Analysts had been expecting earnings of $1. Shares of Boston Beer traded down $3.97, or 14.5%, to $23.43.

Shares of

Krispy Kreme

(KKD)

fell after the company posted

weak second-quarter financial results. Excluding items, the doughnut maker posted second-quarter earnings of 12 cents a share on sales of $177.4 million. Analysts were expecting earnings of 22 cents a share on sales of $188.5 million. Looking ahead, the company said that it expects full-year sales growth of 15%, down from previous guidance of 20% to 25%. Krispy Kreme also revised its development plans, saying that it now expects to open just 75 stores, instead of the 100 it previously forecast.

Saying that it wanted to focus on the long term, Krispy Kreme said it would not provide earnings guidance for the third quarter or full year. Previously, the company forecast full-year earnings of $1.04 to $1.06 a share. Analysts are looking for earnings of 97 cents a share. Shares of Krispy Kreme traded down $1.59, or 10.4%, to $13.77.

NYSE

volume leaders included

Lucent

(LU)

, up 3 cents to $3.20;

Corning

(GLW) - Get Report

, down 38 cents to $9.88;

Pfizer

(PFE) - Get Report

, up 40 cents to $32.31;

Nortel Networks

(NT)

, down 10 cents to $3.91; and

Nokia

(NOK) - Get Report

, up 9 cents to $11.91.

Nasdaq volume leaders included

Intel

(INTC) - Get Report

, down 18 cents to $21.77;

ADC Telecommunications

(ADCT) - Get Report

, down 4 cents to $2.21;

Microsoft

(MSFT) - Get Report

, down 11 cents to $27.44;

Cisco

(CSCO) - Get Report

, down 15 cents to $19.17; and

Applied Materials

(AMAT) - Get Report

, down 28 cents to $15.98.