Yahoo! Trips: Morning Tech Bytes

NEW YORK ( TheStreet) - Yahoo! ( YHOO) fell 1.7% in pre-market trading Wednesday, after announcing that revenue in the fourth quarter fell year-over-year.

The Sunnyvale, Calif.-based company generated revenue of $1.21 billion, excluding traffic acquisition costs, down 4% from the same period last year. Analysts had expected revenue of $1.19 billion.

Yahoo! posted earnings of 24 cents per share, above analyst estimates of 22 cents per share and ahead of last year's earnings of 11 cents per share.

Google ( GOOG) was up 0.22% in pre-market trading, after announcing that it expects to hire 6,000 new workers this year. 2011 will be Google's largest hiring year in its history, the company said.

3M ( MMM) rose 0.24% to $88.71, as earnings topped expectations.

Earnings in the quarter were $928 million, or $1.28 a share, down slightly from $935 million, or $1.30 a share, last year.

Sales rose almost 10% to $6.7 billion.

Nielsen priced its IPO at $23 per share, above its expected range. The measurement firm raised $1.6 billion on Tuesday.

Online content publisher Demand Media upped the size of its initial public offering, and said shares were priced at $17 a piece. The company is expected to start trading Wednesday on the New York Stock Exchange under the ticker DMD.

--Written by Olivia Oran in New York.

>To follow the writer on Twitter, go to http://twitter.com/Ozoran.

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