The Cheesecake Factory is trading at $103.51, down 4.55% in pre-market on October 12, with no clear company-specific catalyst identified. - The company’s third-quarter results are scheduled for October 27, not October 12. - Recent Oppenheimer coverage was positive, citing potentially sustainable same-store-sales momentum, and does not explain the decline. - Major indices were mixed with modest moves, and broader-market context does not clearly account for the drop. Pre-market volume or trading activity data was unavailable.