• General Motors (NYSE:GM) announced plans to hike production levels in the second half, adding it is also looking to rehire 1,350 employees as the successful “cash-for-clunkers” program heightens demand

• Sony (NYSE:SNE) unveiled its slimmer, lighter and less expensive Playstation 3 console for September launch

• Hewlett-Packard (NYSE:HPQ) reported third quarter earnings one cent above Zacks estimates at 91 cents, as revenues dropped 2.1% from a year earlier to $27.45 billion, inline with Zacks estimates.  The firm reiterated mid-point guidance of its previous fiscal 2009 range of $3.76 to $3.88 a share, with revenues expected to decline 4-5%

• Analog Devices (NYSE:ADI) reported third quarter earnings of 22 cents ex-items, 2 cents above Zacks estimates, on revenues of $492 million, off 25.3% YoY.  The company said it expects fourth quarter earnings of 24-26 cents a share

• Deere (NYSE:DE) reported third quarter earnings of 99 cents a share, sharply ahead of Zacks estimates of 57 cents a share, on revenues of $5.89 billion, off 24% from a year ago

• BJ’s Wholesale Club (NYSE:BJ) second quarter results of 64 cents topped projections by two cents on in-line revenues of $2.6 billion, down 5% from a year ago. The firm raised its guidance range two cents to $2.46 to $2.56 a share

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