Stocks in the news: GM, AAUK, BAC, F, KO, NYT, JCP, LOW, INTU, MYL, CROX

U.S. futures were sharply lower Friday morning, indicating stock markets could have a rough day on Wall Street ... once again: Before the bell: Stock futures point to more losses on Wall Street today

General Motors Corp. (GM)'s Saab, the Swedish-based subsidiary, filed for bankruptcy protection Friday so it can be spun off or sold by its struggling U.S. parent. The Swedish government has turned down GM's request for help for Saab, resulting in this filing. Meanwhile, it seems Chrysler LLC may try to convince the U.S. auto task force it should be merged with GM. GM shares declined 12% by 11:20 am.

Anglo American PLC (AAUK) announced Friday it will cut 19,000 jobs, or 10% of its workforce, this year and suspend dividend payments. The mining company reported a 29% drop in 2008 profits. The CEO said the deep global recession is severely affecting sectors and economies the company operates in. To understand, AAUK made 82% of its (already lower) 2008 revenue in the first half of the year. AAUK shares are declining 3.7% in pre-market trade. AAUK shares declined over 17% by 11:20 am.