Updated from 11:57 a.m. EDT

Shares of Mueller Industries ( MLI) were among the NYSE's losers Thursday after the company posted third-quarter earnings and sales that were below expectations.

The maker of copper, brass and plastic construction parts earned 51 cents a share on sales of $322.5 million. Analysts polled by Thomson First Call were expecting earnings of 65 cents a share on sales of $361 million. The company said that volumes during the quarter were lower than second-quarter results and lower than a year ago. Mueller said first-half demand might have been influenced by availability and rising material costs, which led to customers adjusting their third-quarter inventory levels. Shares traded down $5.23, or 12.5%, to $36.70.

CEC Entertainment ( CEC) rose 2.7% after the company posted strong third-quarter earnings and said it expects fourth-quarter earnings to top expectations. The owner of Chuck E. Cheese's restaurants earned 58 cents a share during the third quarter on sales of $183.6 million. Analysts were expecting earnings of 53 cents a share on sales of $185.6 million. Looking ahead, the company expects fourth-quarter earnings of 44 cents to 45 cents a share. Analysts had been expecting earnings of 41 cents a share. Shares of CEC Entertainment traded up 99 cents to $37.50.

Shares of Linens 'n Things ( LIN) fell 7.7% after the company lowered its third-quarter earnings guidance and announced preliminary sales figures that fell short of Wall Street expectations. The housewares retailer now expects earnings of 37 cents to 38 cents a share, down from its previous guidance of 44 cents to 50 cents a share. Analysts were expecting earnings of 46 cents a share. Sales are expected to be about $654.2 million, which would be below expectations of $666.5 million. The company said the quarter was impacted by a decline in store traffic and by hurricanes that impacted stores in the southeastern part of the U.S. Shares traded down $1.80 to $21.70.

General Motors ( GM) fell 6% after the company missed third-quarter earnings targets and warned that full-year earnings results would fall short of expectations. The automaker earned 78 cents a share on sales of $44.86 billion. Analysts were expecting earnings of 96 cents a share. Incentive costs and lower vehicle production in North America, along with higher health care costs, led to the earnings shortfall.

Looking ahead, the company now expects full-year earnings of $6 to $6.50 a share, down from previous guidance of $7. Analysts had been expecting earnings of $7.05 a share. In an effort to cut costs, the company also announced that it is slashing about 12,000 jobs in Europe over the next two years. Shares traded down $2.46 to $38.84.

Shares of TCF Financial ( TCB) fell 4.4% after the company posted third-quarter earnings and sales that fell below expectations. The finance company earned 45 cents a share on sales of $244 million. Analysts were expecting earnings of 47 cents a share on sales of $248.9 million. Shares traded down $1.39 to $30.13.

NYSE volume leaders included American International Group ( AIG), down $6.99 to $60; Marsh & McLennan ( MMC), down $11.28 to $34.85; Lucent ( LU), up 6 cents to $3.48; Pfizer ( PFE), down 47 cents to $29.08; and Ford ( F), down 57 cents to $13.12.

Nasdaq volume leaders included Intel ( INTC), down 48 cents to $20.51; SanDisk ( SNDK), down $7.68 to $20.52; Apple Computer ( AAPL), up $5.23 to $44.98; Sirius Satellite ( SIRI), down 9 cents to $3.65; Microsoft ( MSFT), down 23 cents to $27.80; and Applied Materials ( AMAT), down 69 cents to $15.70.

More from Stocks

REPLAY: Jim Cramer on Fed Rate Hikes, Oil Prices and Starbucks Worries

REPLAY: Jim Cramer on Fed Rate Hikes, Oil Prices and Starbucks Worries

What Will GM Do With Cruise -- and Is Its Stock Worth $55?

What Will GM Do With Cruise -- and Is Its Stock Worth $55?

3 Must Reads on the Market From TheStreet's Top Columnists

3 Must Reads on the Market From TheStreet's Top Columnists

This Should Be Your Retirement Savings Plan When the Stock Market Crashes

This Should Be Your Retirement Savings Plan When the Stock Market Crashes

3 Warren Buffett Stock Picks That Could Be Perfect for Your Retirement Portfolio

3 Warren Buffett Stock Picks That Could Be Perfect for Your Retirement Portfolio