Updated from 2:02 p.m. EDTWorld Fuel Services ( INT) was among the NYSE's losers Friday, falling 10.2% after the fuel provider posted disappointing second-quarter earnings. The company earned $17 million, or 58 cents a share, on revenue of $3.27 billion. Analysts polled by Thomson Financial expected earnings of 63 cents a share. During the year-earlier quarter, the company earned $14.5 million, or 50 cents a share, on revenue of $2.86 billion. Shares closed down $4.44 to $39. Steak n Shake ( SNS) tumbled 8.7% after the restaurant chain posted disappointing third-quarter results and cut its full-year guidance. The company earned $124,000, or less than a penny a share, on revenue of $153.6 million. Results included one-time items that cut earnings by 13 cents a share. Analysts expected earnings of 18 cents a share on revenue of $156.9 million. During the year-earlier quarter, the company earned $7.3 million, or 26 cents a share, on revenue of $150.4 million. Looking ahead, Steak n Shake now sees full-year earnings of 40 cents to 48 cents a share, down from an earlier forecast of 53 cents to 67 cents a share. The company now sees same-store growth falling 4% to 5%. Previously, the company said that sales would fall 2% to 4%. Shares closed down $1.47 to $15.42. Shares of Family Dollar Stores ( FDO) slid 2% after Oppenheimer downgraded shares to neutral from buy. The downgrade comes a day after Family Dollar cut its fourth-quarter earnings guidance and warned that results would be below analysts' expectations. Shares closed down 53 cents to $26.11.
Buckeye Technologies ( BKI) soared 38.9% after Citigroup lifted its rating on the maker of specialty fibers to buy from sell. The firm also boosted its price target to $14 from $12. Shares closed up $4.06 to $14.49. Shares of Innospec ( IOSP) jumped 10.8% after the specialty chemicals company authorized an accelerated stock repurchase plan of up to 250,000 shares as part of the company's $20 million stock buyback plan, which was announced in December 2006. Since the beginning of the year, the company has bought some 300,000 shares for about $8.5 million. "This accelerated repurchase reflects our ongoing commitment to building shareholder value. It comes soon after the announcement of our excellent second-quarter results, and is made possible in view of Innospec's strong financial position," the company said. "It further reflects the confidence we have in our ongoing business and its future prospects." Shares closed up $2.03 to $20.75.