GM Shares Gain on Pledge to Stem Europe Losses

DETROIT (TheStreet) -- GM(GM) shares were rising Thursday as the automaker hinted at strong action in Europe, where it lost $582 million in the fourth quarter.

"We will do what's required to fix this business," says CFO Dan Ammann on the company's earnings call. The full-year loss in Europe totaled $747 million in adjusted earnings before interest and taxes, despite improving by $1.3 billion over 2010. The improvement "did not go far enough," Amman says.

GM shares were rising Thursday as the automaker hinted at strong action in Europe, where it lost $582 million in the fourth quarter.

"This is simply unacceptable on a go-forward basis," he says. General Motors Europe "has to become profitable even in a challenged economic environment. We are not relying on this to get better on its own."