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Stocks on the move: Snowflake falls after successful IPO, GE rises on positive free cash flow expectations

Yahoo Finance's Adam Shapiro breaks down the stocks to watch Thursday.

Video Transcript

ADAM SHAPIRO: Time for Stocks on the Move. We want to take a look at what's happening with one of the big movers from yesterday. That would be Snowflake. Now shares fell 12% at the opening bell. They had an impressive first day of trading, more than doubling the IPO price of $120. They raised $3.36 billion. When it ended yesterday, the company was valued at $61.25 billion, a lot better than the $12 billion they were valued at after their last fundraising round, which was just in February.

So the chief executive officer is actually going to be on the First Trade Friday morning. And right now you can see that shares of SNOW are trading down about 7.5%. So be sure to tune in, the First Trade tomorrow morning for the CEO.

Then there's General Electric. Remember them? Shares up 1% at the opening bell. One month, shares are up about 3%. Right now those shares are trading higher by about 4%. What's going on?

Well, CEO Larry Culp told Morgan Stanley's Laguna conference yesterday that the industrial group will actually be cash flow positive before the end of this year. Now previously, it was just in July they said it would likely turn cash positive by 2021.

So despite the earnings report we got from GE in July, where we saw, what, a loss of $2.2 billion, revenue had fallen to $17.7 billion, clearly they're taking a hit in the aviation sector with the engines for the 737 Max. Investors seem to be a little bit optimistic about GE as we head to break.