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February 04, 2009|FROM TIMES WIRE REPORTS

Motorola Inc. posted a fourth-quarter loss of $3.6 billion after consumers curbed spending on new devices. The loss of $1.57 a share compared with a profit of $100 million, or 4 cents, a year earlier, the Schaumburg, Ill.-based company said. Sales fell 26% to $7.1 billion, missing the $7.2 billion average of estimates compiled by Bloomberg.

Yum Brands Inc., the owner of the Pizza Hut, Taco Bell and KFC restaurant chains, said fourth-quarter profit fell 12% as sales slowed in China. Net income declined to $204 million, or 43 cents a share, from $231 million, or 44 cents, a year earlier. Sales rose 3.7% to $3.38 billion, the Louisville, Ky.-based company said.

PNC Financial Services Group Inc. said it would eliminate 5,800 jobs after its acquisition of National City Corp. last year as the bank swung to a loss during the fourth quarter. Pittsburgh-based PNC said it posted a loss of $248 million, or 77 cents a share, because of increased credit provisions and costs associated with its purchase of Cleveland-based National City in December. A year earlier, PNC earned $178 million, or 52 cents a share. Revenue for the quarter fell 3% to $1.68 billion.

United Parcel Service Inc. reported fourth-quarter profit of $254 million, or 25 cents a share, compared with a net loss of $2.64 billion, or $2.52, a year earlier. Atlanta-based UPS said revenue dropped 5.2% to $12.7 billion.

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