Shares of

CBRL

(CBRL) - Get Report

were among the

Nasdaq's

top performers Wednesday, soaring 18% after the operator of Cracker Barrel restaurants said it is exploring changes to its capital structure.

CBRL is interviewing firms to serve as a financial adviser in its review. The company said it is disclosing the evaluation because it was recently approached by a significant shareholder who, unaware of the review, suggested the company make moves similar to the ones it is investigating.

"Typically, we do not comment on our strategic planning initiatives before they are implemented," said Chairman, President and CEO Michael Woodhouse in a statement, "but we have seen other companies being distracted by opportunistic or impatient investors who publicly pressure those companies to change their strategic direction. Rather than be subjected to the distraction of second-guessing in a public forum, we elected to disclose our process, which was already underway." As a result of the review, CBRL withdrew its guidance. Shares were up $6.32 to $41.84.

SCS Transportation

(SCST)

also announced it is reviewing strategic alternatives and reported sharply higher earnings, sending shares up about 10%. The trucking company hired Morgan Keegan to help in its review, and said it wouldn't comment further until a specific plan has been approved. For the fourth quarter, SCS reported a profit of $10.7 million, or 73 cents a share, up from $4.6 million, or 30 cents a share, a year earlier. Excluding a gain from a property sale, earnings were 44 cents a share, beating Thomson First Call's average analyst estimate by 3 cents. Revenue rose to $288.3 million from $251.9 million a year earlier. SCS shares were up $2.60 to $27.83.

Shares of another transportation company,

CNF

( CNF), didn't fare as well as Wednesday after the company's fourth-quarter earnings missed forecasts. CNF's earnings from continuing operations rose to $53.9 million, or 97 cents a share, from $41.1 million, or 74 cents a share, a year earlier. Analysts had expected earnings of $1 a share. Revenue grew to $1.09 billion from $967.5 million. For the fiscal first quarter, CNF forecast earnings of 71 cents to 77 cents a share, below Wall Street's projection of 79 cents a share. Shares were down $7.49, or 13%, to $48.43.

Regis

(RGS) - Get Report

shares fell 4% after the hair salon operator posted lower-than-expected earnings and offered a tepid outlook. For the second quarter ended Dec. 31, Regis earned $27.3 million, or 59 cents a share, on revenue of $606.6 million. Analysts, on average, were looking for earnings of 63 cents a share and revenue of $606.2 million. The company, which earlier this month announced a complicated merger with

Alberto Culver

(ACV) - Get Report

, said its results were hurt by the recent hurricanes and increased promotional activity.

For the full fiscal year, Regis lowered its earnings forecast to $2.31 to $2.37 a share from an October projection of $2.39. The company expects revenue of $2.4 billion, with a same-store sales rise of 0.75% to 1.25%. Analysts target earnings of $2.40 a share and revenue of $2.44 billion for the year ending in June. Regis shares fell $1.71 to $39.28.

Shares of Minneapolis-based investment firm

Piper Jaffray

(PJC) - Get Report

rose 5% after the company reported a 39% higher profit amid robust investment banking activity. The company's earnings rose to $16.4 million, or 87 cents a share, from $11.8 million, or 61 cents a share, a year earlier. Two analysts polled by First Call had an average estimate for earnings of 52 cents a share. Piper Jaffray's net revenue rose to $207 million from $194.6 million. Shares were up $2.06 to $43.89.

The

NYSE's

volume leaders Wednesday were

GE

(GE) - Get Report

, down 13 cents to $32.83;

(GLW) - Get Report

, up 34 cents to $24.59;

Lucent

( LU), up 1 cent to $2.54;

Disney

(DIS) - Get Report

, down 37 cents to $25.62;

Texas Instruments

(TXN) - Get Report

, down 77 cents to $29.92;

EMC

(EMC)

, up 12 cents to $13.77;

Johnson & Johnson

(JNJ) - Get Report

, down 40 cents to $58.96;

McDonald's

(MCD) - Get Report

, down 39 cents to $35.46;

Boston Scientific

(BSX) - Get Report

; down 52 cents to $23.48; and

Exxon Mobil

(XOM) - Get Report

, down 70 cents to $60.26.

Nasdaq's most actively traded stocks included

Oracle

(ORCL) - Get Report

, up 31 cents to $12.51;

Intel

(INTC) - Get Report

, down 3 cents to $21.25;

Sun Microsystems

(SIRI) - Get Report

, up 2 cents to $4.39;

Microsoft

(MSFT) - Get Report

, up 16 cents to $26.44;

Sirius Satellite Radio

(SUNW) - Get Report

, unchanged at $5.89;

Apple

(AAPL) - Get Report

, down $1.23 to $74.81;

Cisco

(CSCO) - Get Report

, up 23 cents to $18.56; and

JDSU

(JDSU)

, down 4 cents to $3.03.