Updated from 11:36 a.m. EDTShares of Eastman Chemical ( EMN) were among the NYSE's losers Tuesday, falling 8.9% after the company warned that its fourth-quarter earnings would fall below previous guidance and Wall Street expectations. Excluding items, the company now expects earnings to be near the low end of its previously announced earnings range of 42 cents to 63 cents a share. Analysts polled by Thomson First Call had been expecting earnings of 59 cents a share. Eastman blamed the shortfall on higher raw material and energy costs. The company said costs increased by more than $100 million in the fourth quarter compared with the third quarter. Looking ahead, Eastman said it plans to implement price increases during the first quarter in an effort to offset higher raw material and energy costs. Shares traded down $5.11 to $52.19. Sonic ( SONC) rose 6.1% after the restaurant operator posted first-quarter earnings that topped expectations. The company posted a profit of $16 million, or 26 cents a share, on sales of $142.2 million. Analysts were expecting earnings of 25 cents a share on sales of $136.7 million. A year ago Sonic earned $12.8 million, or 21 cents a share, on sales of $118.7 million. Same-store sales rose 8.1%, ahead of the company's long-term target range of 2% to 4%. Looking ahead, Sonic forecast second-quarter earnings of 19 cents a share on sales growth of 13% to 15%, which implies sales of $126.1 million to $128.3 million. Analysts are expecting earnings of 20 cents a share on sales of $127.3 million. Shares traded up $1.80 to $31.44. Shares of Steel Technologies ( STTX) rose modestly after the company said that first-quarter earnings would beat expectations. The flat-rolled steel processor expects earnings of about $1.10 a share on sales of $250 million. Analysts had been expecting earnings of 96 cents a share on sales of $221.3 million. The company expects to announce its earnings results on Jan. 24. Shares traded up 6 cents to $27.87.