Updated from 10:53 a.m. EDT

Shares of

Jo-Ann Stores

( JAS) were among the

NYSE's

losers Wednesday after the company turned in flat September sales and warned that third-quarter and full-year earnings would fall below expectations.

The fabric retailer attributed flat same-store sales to lower ad spending and bad weather caused by hurricanes in the Southeast. As a result, the company now expects third-quarter earnings of 30 cents to 35 cents a share, down from its previous guidance of 47 cents to 52 cents a share. Analysts polled by Thomson First Call had been expecting earnings of 50 cents a share. Shares traded down $2.45, or 8.6%, to $26.10.

Wolverine World Wide

(WWW) - Get Report

rose 9.6% after the company posted third-quarter earnings that beat expectations. The shoemaker posted a profit of 55 cents a share on sales of $260.9 million. Analysts were expecting earnings of 47 cents a share on sales of $248.9 million. Shares of Wolverine traded up $2.53 to $28.90.

Shares of

Covenant Transport

(CVTI) - Get Report

fell 9.1% after the company warned that third-quarter earnings would fall short of Wall Street expectations. Excluding items, the trucking company now expects earnings of 32 cents to 36 cents a share, down from its previous guidance of 36 cents to 40 cents a share. Analysts had been expecting earnings of 38 cents a share. Covenant said that it experienced a "soft spot" in August and freight disruptions in August and September that were caused by hurricanes in the Southeast. Shares traded down $1.86 to $18.50.

Too

(TOO) - Get Report

rose 4.6% after the company said it would post third-quarter earnings above estimates. The clothing retailer expects third-quarter earnings of 26 cents to 28 cents a share. Analysts had been expecting earnings of 18 cents a share. Too said earnings would be helped by strong same-store sales. Shares traded up 85 cents to $19.20.

Shares of

Big Lots

( BLI) fell 4.6% after the company warned that third-quarter results would fall short of expectations and that fourth-quarter results could miss estimates as well. The retailer expects to post a third-quarter loss of 18 cents to 22 cents a share. Analysts had expected a loss of 7 cents a share. For the fourth quarter, Big Lots expects to post a profit of 67 cents to 74 cents a share. Analysts are expecting earnings of 74 cents a share. Shares of Big Lots traded down 59 cents to $12.15.

NYSE volume leaders included

Lucent

( LU), up 27 cents to $3.39;

Merck

(MRK) - Get Report

, down $1.76 to $31.67;

Blockbuster

( BBI), up 20 cents to $8.04;

Nortel Networks

( NT), up 5 cents to $3.61; and

EMC

(EMC)

, up 20 cents to $12.68.

Nasdaq

volume leaders included

Sirius Satellite Radio

(SIRI) - Get Report

, up 52 cents to $3.87;

Intel

(INTC) - Get Report

, down 19 cents to $21.13;

Microsoft

(MSFT) - Get Report

, up 15 cents to $28.53;

Cisco

(CSCO) - Get Report

, up 43 cents to $19.53; and

Oracle

(ORCL) - Get Report

, up 3 cents to $12.24.