NEW YORK (CNNfn) - A blitz of earnings warnings tanked several stocks Friday while a major cereal maker's buyout offer sent shares of a health food company soaring.
In the session's biggest advancer, shares of Worthington Foods (WFDS) catapulted 60 percent after Kellogg (K) said it will buy the health food concern for $307 million.
Stock in the Worthington, Ohio-based firm gained 8-5/8 to 23.
But shares of Sipex Corp. (SIPX) fell 20 percent after the circuit maker said it expects to earn between 7 and 9 cents a share for the third quarter, well below the 15-cent-a-share number analysts polled by First Call Corp. expected.
Shares of the Billerica, Mass.-based Sipex fell 2-7/8 to 11-7/16.
Similarly, shares of Service Corp. International (SRV), the world's largest funeral and cemetery company, dropped 27 percent after warning of lower-than-expected third-quarter earnings.
The Houston-based company cited a series of reasons for the shortfall, including "weakened death rates."
Service Corp. stock fell 2-7/8 to 7-11/16.
Shares of York International Corp. (YRK) plunged 38 percent after the maker of heating, ventilating, air conditioning and refrigeration systems warned of weaker-than expected third-quarter earnings.
Stock in the York, Pa.-based company fell 13-13/16 to 22-1/8.
Rounding out the financial disappointments, shares of Apex Inc. (APEX), a maker of network server products, dropped 28 percent after saying revenue and profits for its third quarter would fall below forecasts.
Shares of Redmond, Wash.-based Apex lost 5-5/16 to 13-3/8
In contrast, stock in NCS HealthCare Inc. (NCSS) soared 21 percent after the pharmacy services provider said it will meet forecasts of 40 cents per share earnings for its fiscal year ended June 30, 2000.
Shares of Cleveland-based NCS gained 9/16 to 3-3/16.
Turning to IPOs, shares of Williams Communications Group Inc. (WCG) rose modestly in its debut..
After being priced $23 per share, Williams stock gained 5-7/16, or 24 percent, to 28-7/16.
The Tulsa, Okla.-based provider of voice, data, Internet and video services has become a darling among analysts, who call the company a great play on the growth of the Internet's infrastructure.
But Williams' performance lagged some of the week's other IPOs.
In the highest flyer, computer networking firm Foundry Networks Inc. (FDRY) soared more than 500 percent in its debut Monday.
The gains continued Friday, with Foundry shares rising 1, or nearly 1 percent, to 127. 
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