Take a look at the companies making headlines in midday trading: The Real Parts – Shares fell nearly 20% due to the company’s weaker-than-expected third-quarter earnings. Meanwhile, True Parts earned $1.88 per share, excluding items, below the $2.42 per share that analysts polled by FactSet were expecting. It also lowered its full-year forecast. The stock was headed for its worst day in history. General Motors – The stock jumped more than 9% after the automaker posted better-than-expected third-quarter results and raised its full-year forecast. During that period, GM earned $2.96 per share on revenue of $48.76 billion. Analysts had expected $2.43 in earnings per share on $44.59 billion in revenue, per LSEG. Shares are heading for their biggest one-day gain in nearly a year. Verizon Communications – The telecommunications giant fell 4% after posting third-quarter revenue of $33.33 billion, which came in below the $33.43 billion analysts polled by LSEG were expecting. However, Verizon’s earnings per share of $1.19 came in 1 cent above estimates of $1.18. The company reaffirmed its full-year outlook. GE Aerospace – The defense company fell more than 9% after posting mixed third-quarter results. GE Aerospace reported adjusted revenue of $8.94 billion, while analysts polled by LSEG estimated $9.02 billion. Meanwhile, adjusted earnings per share of $1.15 beat consensus forecasts by just one cent. Philip Morris International – The tobacco company fell nearly 9% after reporting third-quarter results that beat expectations. Philip Morris also raised its guidance for 2024 and showed strength in its non-smoking business. Lockheed Martin – Shares fell more than 5% after third-quarter earnings missed expectations. Lockheed Martin posted $17.1 billion in revenue for the quarter, below the $17.35 billion expected by analysts polled by LSEG. However, earnings exceeded expectations at the time, and the company also raised its full-year outlook. Deckers Outdoor – Shares fell nearly 3% following BTIG’s downgrade of the footwear and apparel maker to neutral from buy. The company believes signs of moderation in growth put the stock at “risk.” First Solar – Shares are off 3.4% after Citi upgraded to buy from neutral. Citi said First Solar must be able to profit regardless of who wins the US presidential election in November. Zions Bancorporation – Shares rose more than 7% after the regional bank posted better-than-expected quarterly results. Zions earned $1.37 per share on revenue of $792 million, while analysts had expected $1.17 in earnings per share on revenue of $779 million, according to LSEG. The bank’s profits also increased year after year. Nucor – The stock fell nearly 8% after the steel producer said it saw GAAP earnings per share decline compared to the previous quarter. That said, the company reported an adjusted earnings and revenue beat for the third quarter. Sherwin-Williams — Shares fell nearly 4% after the paint maker’s third-quarter results missed estimates. Sherwin-Williams posted adjusted earnings of $3.37 per share, excluding items, on revenue of $6.16 billion. That’s less than the $3.55 in earnings per share on revenue of $6.20 billion that analysts were looking for, per FactSet. Paccar – Shares lost more than 5% after the company reported a drop in deliveries. Worldwide deliveries of new trucks in the third quarter came in at 44,900 units, down from the 50,100 units the company saw a year ago. Quest Diagnostics – The stock rose nearly 7% after third-quarter results that beat analysts’ expectations. Quest earned $2.30 per share on revenue of $2.49 billion. Analysts polled by FactSet expected earnings of $2.26 per share on revenue of $2.43 billion. Norfolk Southern — Shares rose 4% after the freight train operator reported earnings and revenue that beat analysts’ expectations. The move put Norfolk Southern on pace for its best day since July 26, when it jumped 10.9%. – CNBC’s Alex Harring, Samantha Subin, Lisa Kailai Han and Hakyung Kim contributed reporting.
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