American Express (NYSE: AXP) reported results Monday after the close, posting a 79% drop in fourth-quarter profit. On an adjusted basis, excluding discontinued operations, the company earned $238 million, or 21 cents per share. Analysts polled by Thomson Reuters were expecting earnings of 22 cents per share. Still, its seems that despite the slight miss Wall Street was bracing for much worse and shares actually traded about 5% higher in premarket trading.

Texas Instruments (NYSE: TXN) said it would cut 3,400 jobs when it reported results Monday after the close. It said its profit dropped to $107 million, or 8 cents a share, compared with a net income of $756 million, or 54 cents a share, for the year-earlier period. Revenue was $2.49 billion, down from $3.56 billion last year. Excluding a restructuring charges of 13 cents a share, TI beat analysts estimates of 12 cents a share on revenue of $2.37 billion. But TI said it expects a prolonged period of economic weakness. TXN shares traded 4.3% higher in premarket trading.

International Business Machines (NYSE: IBM) cut 2,800 jobs in sales and software units last week, according to a labor group. Shares were nearly 5% lower in premarket trading.

Apple Inc. (NASDAQ: AAPL) -- in two Apple related news, one has the company being awarded a patent that covers multi-touch and all associated gestures such as pinch, swipe and rotation, and the other has CEO Steve Jobs scheduled for surgery Monday morning.

Siemens (NYSE: SI) posted an 81% drop in profit, but held onto its earnings outlook for the year. SI shares were about 5% in premarket trading.

Citigroup Inc (NYSE: C), despite all its problems and $45 billion bailout money it received, may be going through with plans to buy a $50 million corporate jet, according to published reports. Perhaps investors are taking this as a good sign as Citi shares traded over 4% higher in premarket action.

Earnings in brief:
Travelers 4Q profit falls 25 pct on investments - - TRV
EMC's profit falls in fourth quarter - EMC shares traded some 3% higher in premarket
Bristol-Myers Squibb swings to profit - BMY shares traded over 2% higher in premarket action
Delta reports $1.4B 4Q loss - DAL shares declined nearly 3.5% in premarket trading
Corning cuts 3,500 jobs as 4Q profit slumps - GLW shares declined over 5.5% in premarket trading
Netflix profit up surprising 45 pct, shares rise - NFLX shares gained over 8.7% in premarket trading
Amgen's Net Profit Increases 15% - AMGN shares declined 2.2% in premarket trading
VMware sees 1st-qtr revenue below Wall St view - VMW shares declined 2.7% in premarket trading
Nomura posts record $3.8 billion loss - NMR declined 3.7% in premarket trading