General Motors Corp. (NYSE: GM) posted a fourth-quarter loss of $722 million, or $1.28 a share , after a year-earlier profit on rising costs in North America. Sales fell to $47 billion. For 2007, it posted a record net loss of $38.73 billion, or a loss of $68.45 per share. GM, eager to lower wages is offering a new round of buyouts to all 74,000 of its U.S. hourly workers who are represented by the United Auto Workers. GM shares are down 3.3% in premarket trading.Teva Pharmaceutical (NASDAQ: TEVA), reported fourth-quarter earnings rose 24% to $570 million, or 69 cents a share, beating estimates of 66 cents per share. Sales grew 13% to $2.58 billion from $2.28 billion. Still, TEVA shares are down nearly 1.7% in premarket trading.
Time Warner (NYSE: TWX) was upgraded at UBS from Neutral to Buy. Shares are up over 1.1% in premarket trading.
3M Co. (NYSE: MMM) on Monday announced it would increase its dividend by 4.2% and pay a quarterly dividend of 50 cents per share. The dividend is payable on March 12 to shareholders of record at Feb. 22.
Also reporting today are:
Applied Materials (NASDAQ: AMAT), which is projected to post earnings of 20 cents a share in the fiscal first quarter. Molson Coors Brewing Co. (NYSE: TAP), which is projected to post earnings of 65 cents a share in the fourth quarter.
According to Macrumors, Apple Inc. (NASDAQ: AAPL) will soon add Flash support to the iPhone, making an already easy browsing experience even easier.
As eBay Inc. (NASDAQ: EBAY) sellers prepare to "strike," the online auctioneer has bowed to pressure from some of its high-volume sellers, saying Monday it will further cut listing fees for books, music, movies and video games sold through the online auction site.
Closing Bell: Can't go up every day (BAC, HE, HPW, COMS, BRCD, WMT, AMD)
Wal-Mart grows profit and cash flow in Q3, but comps still ailing
Chasing Value: Ten stocks for 2010 -- Part 2
