3. Bad grades for GM and Stellantis
Legacy automakers are talking big about their plans to go electric and transition away from fossil-fuel-burning engines. General Motors, in particular, has said it expects its EV profits to be comparable with its gas vehicles' earnings by 2025. For now, though, the Detroit icon's fleet has one of the worst fuel economy readings in the auto industry, according to the Environmental Protection Agency. Only Stellantis, formerly known as Fiat Chrysler, was worse. Overall, though, fuel economy for vehicles hit an all-time high of 25.4 miles per gallon in 2021, bolstered by electric car maker Tesla and a strong showing by hybrids.
Read more: Electric Ford F-150 Lightning named MotorTrend's truck of the year
4. Oracle boosted by cloud biz
Oracle came in with a solid earnings report Monday. The tech giant beat Wall Street's expectations on adjust profit per share, while revenue grew 18% year over year to $12.28 billion, higher than estimates of $12.05 billion. Its margins also expanded. Oracle's cloud businesses provided a big boost, too. Revenue from cloud services and license support rose 14% , while cloud infrastructure revenue surged 53%. It wasn't all rosy, though. Oracle offered earnings guidance for the current quarter that came in below analysts' estimates.
5. Ukraine reports new Russian drone launches
Russia started launching a new round of Iranian drones, according to Ukrainian authorities, an indication that the Kremlin's air assault would continue unabated. Russian forces have used the drones to target Ukraine's infrastructure, which has led to power outages and other difficulties as the nation confronts brutally cold weather. Elsewhere, Ukraine's president, Volodymyr Zelenskyy, called on Russian forces to leave his country in time for Christmas. That isn't likely, however. Read live war updates here.
— CNBC's Samantha Subin, Patti Domm, MacKenzie Sigalos, Rohan Goswami, Michael Wayland, Emma Newburger and Holly Ellyatt contributed to this report
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