Shares of Checkpoint Systems ( CKP) were among the NYSE's losers Thursday, plunging 23% after the maker retail-surveillance systems posted second-quarter earnings that missed expectations by a wide margin. For the period ended June 25, the company reported earnings from continuing operations of $5.2 million, or 13 cents a share, on revenue of $165 million. Excluding items, the company earned $7.1 million, or 18 cents a share. Analysts polled by Thomson First Call expected earnings of 35 cents a share, before items. During the year-earlier period, Checkpoint earned $9.5 million, or 25 cents a share, on revenue of $185.6 million. Excluding items, year-earlier earnings were $12 million, or 31 cents a share. Checkpoint lowered its 2006 earnings forecast to 95 cents to $1.05 a share, before items, from an earlier projection of $1.40 to $1.50 a share. Analysts project earnings of $1.37 a share. The company now expects revenue to be down 7% to 9%, compared with an earlier forecast of flat to down 3%. Shares recently were trading down $4.58 to $17.51. Shares of K-Swiss ( KSWS) jumped 20% after athletic-footwear maker's second-quarter earnings and third-quarter guidance topped forecasts. The company posted a second-quarter profit of $20.3 million, or 58 cents a share, up from $16.8 million, or 47 cents a share, a year earlier. Revenue declined to $124.2 million from $126.5 million. Analysts expected earnings of 46 cents a share and revenue of $130.5 million. K-Swiss forecast third-quarter earnings of 40 cents to 50 cents a share, with revenue of $119 million to $129 million. Analysts project earnings of 39 cents a share and revenue of $121.2 million. Shares were trading up $4.61 to $28.55. Shares of FreightCar America ( RAIL) climbed 13% after the maker of railroad freight cars posted second-quarter results that blew past expectations. The company earned $36.6 million, or $2.86 a share, on revenue of $365.4 million. Analysts anticipated earnings of $1.69 a share and revenue of $300.8 million. During the year-earlier period, the company earned $9.1 million, or 76 cents a share, on revenue of $230.7 million. Excluding certain items, the company earned $11.3 million, or 90 cents a share, during the year-earlier quarter. Shares were trading up $6.26 to $54.86.