EARNINGS

GM Hughes Electronics Corp. Reports Improved Earnings: The company said fourth-quarter profit rose 17.6% on cost cutting and rising sales. The General Motors Corp. subsidiary said it earned $276.3 million, or 69 cents a share, before purchase accounting adjustments for GM’s acquisition of Hughes Aircraft Co. It earned $234.8 million, or 59 cents, a year earlier. Revenue rose 6.8% to $3.70 billion, from $3.46 billion. GM Hughes said results include a charge of $32.0 million, or 8 cents a share, for the December sale of Hughes Rediffusion Simulation Ltd. and a $52.2-million gain on the sale of its 30% stake in Japan Communications Satellite Co.