Stock Movers to Watch: Big Names Make Headlines

Here's what happened with some big stock players today before the market opened. First up, The Cheesecake Factory saw its shares jump over 3% after an activist investor stepped in. This investor thinks the company should spin off three of its brands. On the other hand, General Motors' shares dipped slightly. Why? Even though their third-quarter results beat expectations, it wasn't enough to excite investors. They earned way more than expected, and even boosted their full-year outlook. Now, let's talk about SAP. The company that provides enterprise software had a good day. Their shares went up more than 3% after they did better than expected in their third-quarter earnings and revenue. They even increased their full-year cloud and software revenue guidance. But not all stocks had a good day. GE Aerospace, for example, took a hit. Their revenue didn't meet expectations, and their earnings per share only beat forecasts by a cent.

Deckers Outdoor, the company that makes footwear and apparel, lost some ground. Their stock dropped after a firm downgraded them, saying growth might be slowing down. First Solar, on the other hand, had a good day. Their shares went up after Citi upgraded them to buy. Why? Because no matter who wins the U. S. presidential election next month, First Solar should benefit. Speaking of ups and downs, 3M had a great day. Their shares rallied over 5% after they posted strong third-quarter earnings and revenue. Zions Bancorporation also had a good day. Their shares rose after they reported a stronger-than-expected quarter. But not everything was sunshine and rainbows. Nucor, a steel production firm, slipped. They expect their earnings per share to decline this quarter, even though they did well in their third-quarter earnings and revenue. Danaher, a life sciences and diagnostics company, had a good day. Their shares went up after they beat expectations in their third-quarter results. But Sherwin-Williams, the paint manufacturer, had a rough day. Their shares dipped after their third-quarter results disappointed investors.

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