Stocks making the biggest moves premarket: Cheesecake Factory, Sherwin-Williams, 3M and more

Look at the firms making waves in the market before opening bell.

Cheesecake Factory’s stock increased over 3% due to JCP Investment Management increasing their shares. They also proposed a division of three brands into a new entity.

Despite beating expected third-quarter results, General Motors’ shares slightly decreased. Earnings were $2.96 per share on a $48.76 billion revenue, surpassing LSEG’s expectations. They have also improved their full-year forecast.

SAP’s shares on the U.S. market rose over 3% after exceeding third-quarter earnings and revenue expectations. They also increased their annual cloud and software revenue guidance.

GE Aerospace experienced a near 5% decrease in shares after their third quarter revenue missed expectations. However, their adjusted earnings exceeded consensus forecasts by 1 cent.

Deckers Outdoor’s stock dropped by 2.9% following a downgrade to neutral from buy by BTIG due to concerns of growth moderation.

First Solar’s shares went up by 1.8% after being upgraded from neutral to buy by Citi, who believes the company will benefit regardless of the upcoming U.S. presidential election result.

AppLovin saw a 1% increase in shares after Loop Capital started covering the stock with a buy rating. AppLovin was praised for being critical infrastructure for mobile gaming with potential for substantial data and AI exposure.

3M experienced a 5% increase in shares after posting better-than-expected third quarter earnings.

Zions Bancorporation’s shares increased by over 2% after a robust quarterly report. Their earnings per share and net interest margin has seen a year-on-year increase.

Shares of steel production company, Nucor, fell by nearly 3% after their anticipated GAAP earnings per share for the current period is predicted to decrease. However, they beat adjusted earnings and revenue expectations for the third quarter.

Danaher’s shares increased by 1.8% after exceeding third-quarter expectations, attributing this to bioprocessing business’s positive momentum.

Sherwin-Williams saw a 6.5% dip in shares after poor third-quarter results, falling short of Wall Street’s estimates.