Motorola Mobility ( MMI) said Friday after the close of trading that it sees fourth-quarter revenue of about $3.4 billion, unchanged from revenue in the same period last year and less than the $3.88 billion analysts polled by Thomson Reuters expected. The company, in the process of being acquired by Google ( GOOG), said the cost of patent lawsuits and a more competitive market weighed on results. Motorola will issue its full financial report on Jan. 26. The shares were falling 2.3% to $37.58 in premarket trading.
Teck Resources ( TCK) announced a deal to buy Canada's SilverBirch Energy for C$8.50 a share and 1 share of the new company, SilverWillow Energy. SilverBirch shareholders voted to approve the deal, with 39% in favor. With Tech's 9.4% ownership of SilverBirch, the proposal was accepted.
Ford's ( F) sales in China rose 7% in 2011, while sales for General Motors ( GM) during the year in China increased 8.3%. Shares of Ford were up 0.5%.
Schnitzer Steel ( SCHN) is expected by analysts to post fiscal first-quarter earnings of 23 cents a share on Monday.
-- Written by Joseph Woelfel and Kaitlyn Kiernan >To contact the writers of this article, click here: Joseph Woelfel or Kaitlyn Kiernan >To submit a news tip, send an email to: firstname.lastname@example.org.