NEW YORK ( TheStreet) -- Boeing ( BA) said fourth-quarter net income fell 8% as aircraft deliveries fell below expectations and defense spending dropped.

The stock fell 3.2% to $69.95 in premarket trading.

Xerox ( XRX) said fourth-quarter net income fell 5% to $171 million, or 12 cents a share, from $180 million, or 20 cents a share, the year before.

Adjusted earnings were 29 cents a share.

Revenue for the quarter grew about 42% to $5.98 billion.

The Wall Street consensus called for earnings of 28 cents a share on revenue of $5.98 billion.

The stock fell 3.8% to $10.97 in premarket trading.

General Dynamics ( GD) reported an 18% increase in fourth-quarter earnings from continuing operations to $729 million, or $1.91 a share, from $618 million, or $1.58 a share, a year earlier.

Revenue rose about 8.9% to $8.6 billion in the fourth quarter from $7.9 billion.

On average, analysts were expecting earnings of $1.85 a share on revenue of $8.92 billion.

Premarket quotes weren't available for shares of General Dynamics. The stock ended Tuesday's trading session at $74.17, up 2%.

United Continental ( UAL) beat estimates as Pacific unit revenue rose by 26%.

Shares of the carrier rose 2% to $24.57 in early trading Wednesday.

Valero Energy ( VLO) swung to an adjusted profit in the fourth quarter on a surge in global demand for oil and refined products.

Shares of the company rose 1.2% to $24.60.

United Technologies ( UTX) said fourth-quarter net income rose about 12% to $1.2 billion, or $1.31 a share, from $1.07 billion, or $1.15 a share, a year earlier.

Earnings included net charges for restructuring and one-time items of 3 cents a share.

Consolidated sales for the quarter rose about 6% to $14.86 billion from $13.979 billion the year before.

Analysts, on average, were calling for earnings of $1.29 a share on revenue of 14.75 billion.

Shares of the company were flat at $81.74 in early trading Wednesday.

Toyota ( TM) is recalling about 245,000 Lexus vehicles sold in the U.S. to inspect problems with a fuel pressure sensor.

The automaker Wednesday announced it was recalling 1.7 million vehicles worldwide.

Shares of Toyota fell 1.7% to $82.41 in premarket trading Wednesday.

SAP ( SAP) said fourth-quarter profit fell 36% after recording litigation expenses of €933 million ($1.28 billion).

SAP shares rose 1% to $55.73 in early trading.

WellPoint ( WLP) earned $548.8 million, or $1.40 a share, in the fourth quarter including net investment gains of $24.1 million, or 7 cent a share. Adjusted earnings of $1.33 a share topped analysts' estimates.

WellPoint fell 1.4% to $60.85.

Yahoo!'s ( YHOO) fourth-quarter earnings beat analyst expectations, but revenue declined from last year.

Yahoo! fell 2% to $15.71 in premarket trading Wednesday.

MIPS Technologies' ( MIPS) revenue for its fiscal second quarter came in just shy of Wall Street's expectations.

The stock tumbled 9.2% to $13.74.

RF Micro Devices ( RFMD) fell short of Wall Street's revenue view in its latest quarter and forecast a sequential decline of 10-15% in revenue for the current period.

Shares of the company dropped by 8.6% to $7.

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-- Written by Andrea Tse in New York.

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