GM posts $3 billion loss - yet their stock jumps nearly 10%

It was up ~13% at one point after the annoucement.

GM posts $3 billion loss: Financial News - Yahoo! Finance

"The No. 1 U.S. automaker fell to a net loss of $3.25 billion, or $5.74 per share, from a year-earlier profit, reflecting the impact of a costly supplier strike and waning demand in North America for GM's most profitable vehicles.

But excluding $2.2 billion in charges for struggling former subsidiaries, the results were better than forecast and investors applauded GM's ability to avoid a worse result at a time of mounting pressure in its home market
...
GM, which has lost a combined $51 billion over the past three years"