Shares of Regis ( RGS) were among the NYSE's losers Wednesday, sliding 10% after the hair services company cut its third-quarter and full-year guidance, noting a challenging salon retail and service environment. The company now sees earnings of 45 cents to 48 cents a share for the third quarter ending March 31, down from an earlier view of 56 cents to 60 cents a share. Analysts polled by Thomson First Call project earnings of 58 cents a share. The company expects sales of about $607 million, below analysts' projection of $612.6 million. For the fourth quarter, Regis expects earnings of 58 cents to 62 cents a share and sales of $640 million to $645 million. Analysts project earnings of 70 cents a share, with sales of $645.5 million. Regis shares were trading down $3.88 to $33.54. Shares of Alberto-Culver ( ACV), which is involved in a merger with Regis, fell $1.85, or 4%, to $44.10. Chaparral Steel ( CHAP) vaulted 14% after the steel-beam maker reported a big jump in third-quarter earnings. The company earned $49.2 million, or $2.06 a share, on sales of $374.6 million. During the year-earlier period, Chaparral earned $14.2 million, or 62 cents a share, on sales of $259.1 million. "Improved global demand, industry consolidation and low cost production are the primary factors contributing to strong industry results," the company said. Looking ahead, Chaparral said fourth-quarter results should be strong, as demand for the company's products remains high. Shares were trading up $6.97 to $56.31. Shares of Transmontaigne ( TMG) surged 23% after Morgan Stanley ( MS) disclosed a proposal to buy the company for $8.50 a share. The bid represents a 15% premium over Transmontaigne's closing price of $7.42 Tuesday. In a letter to Transmontaingne's CEO, disclosed in an SEC filing, Morgan Stanley said the proposal is a non-binding indication of interest that comes after ongoing discussions about the companies' strategic relationship. Transmontaigne shares jumped $1.76 to $9.18.