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Eastman Kodak Co. (KODK)

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  • Mar. 22, 2013, 3:55 PM
    Shutterfly (SFLY +0.1%) is suing bankrupt Eastman Kodak (EKDKQ.PK -3.3%) to get it to shut down its My Kodak Moments Facebook app, arguing it violates a non-compete agreement that was part of last year's $23.8M deal to purchase Kodak Gallery. Separately, Kodak announces it has closed its $848M financing deal with creditors. The company says it's on track to file a reorganization plan by April 30.
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  • Jan. 23, 2013, 1:53 PM
    Two weeks after signing off on Eastman Kodak's (EKDKQ.PK) patent sale, a bankruptcy judge has approved $830M in financing that was contingent on the deal. The approval takes Kodak a step closer to coming out of Chap. 11, though the company still has to consummate a reorganization plan by Sep. 30, resolve its U.K. pension obligations, and sell all or part of its Document Imaging (scanners) and Personalized Imaging (photo kiosks, film, and paper) businesses.
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  • Jan. 11, 2013, 2:44 PM
    To little surprise, a bankruptcy judge has signed off on the $525M sale of Eastman Kodak's (EKDKQ.PK -2.4%) patent portfolio to a consortium managed by RPX (RPXC) and Intellectual Ventures, and featuring a who's who of tech giants. The approval clears the way for Kodak to obtain $830M in financing and come out of Chapter 11 in 1H13. Earlier this week, Kodak, which plans to focus on business solutions going forward, announced a deal with private JK Imaging in which JK will sell cameras under the Kodak brand.
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  • Dec. 19, 2012, 10:26 AM
    More on Kodak: The Next Web claims the consortium organized by RPX and Intellectual Ventures includes Apple and Google, as well as Samsung, Facebook, HTC, Fuji, Microsoft, Amazon, RIM, Adobe, Huawei, and Shutterfly. It looks as if the companies decided to join forces so as to keep Kodak's IP from further enriching patent lawyers. Apple, RIM, and HTC have been involved in legal disputes with Kodak over the patents.
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  • Dec. 19, 2012, 9:23 AM
    Eastman Kodak (EKDKQ.PK) is selling its imaging patent portfolio for $525M to a consortium led by RPX (RPXC) and patent troll Intellectual Ventures. Kodak adds the deal settles existing IP litigation between the parties. The sale figure exceeds the $500M threshold needed for a $793M financing deal to clear. Apple (AAPL) and Google (GOOG) were previously reported to have teamed up for a bid. (PR)
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  • Dec. 8, 2012, 12:14 AM
    Apple (AAPL) and Google (GOOG) have teamed up for the reported $500M-plus bid for bankrupt Kodak's (EKDKQ.PK) patents, Bloomberg reports. The two companies - part of rival consortia this summer in an auction for the patents - are likely working together with a goal of neutralizing infringement lawsuits.
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  • Dec. 5, 2012, 6:32 PM
    Eastman Kodak (EKDKQ.PK) has finally received a $500M+ bid for its patent portfolio, sources tell the WSJ, while adding a deal hasn't yet been inked. A $500M+ patent sale is necessary by early next year for a $793M financing deal to go through.
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  • Nov. 19, 2012, 1:49 PM
    Eastman Kodak (EKDKQ.PK) strikes a deal with CVS Caremark (CVS +0.6%) to keep as many as 15K photo kiosks at CVS stores through 2016. The deal is important because it ensures the company's biggest customer will still be in tact for a potential buyer of the Kodak imaging service business.
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  • Nov. 14, 2012, 6:23 PM
    Two days after securing $793M in financing, Eastman Kodak (EKDKQ.PK) received court approval to maintain control of its bankruptcy proceedings through Feb. 28. Also, Kodak says it's still in talks with Apple (AAPL) and Google (GOOG) regarding its delayed patent sale, and is confident the sale with produce the $500M+ in proceeds needed for its financing deal to go through. Kodak chose to delay its patent sale after initial bids during an August auction came in well below $500M.
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  • Nov. 12, 2012, 10:47 AM
    Eastman Kodak (EKDKQ.PK) struck a deal with bondholders over $793M in loans that could lift the company out of bankruptcy, according to a WSJ report. If the report pans out, it most likely means a buyer for the company's interesting group of patents has been found.
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  • Nov. 8, 2012, 5:49 AM
    Eastman Kodak (EKDKQ.PK), AMR (AAMRQ.PK) and 27 other large companies out of 90 that entered bankruptcy protection in 2007-2012 didn't tell investors that they were preparing for Chapter 11 before they filed, a WSJ investigation finds. Securities law doesn't require such disclosure even though it could be thought to be material to investors.
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  • Oct. 12, 2012, 10:02 AM
    Kodak (EKDKQ.PK) reveals its financial projections in an 8-K filed with the SEC. Cash flow is pegged at $1M for September before turning negative for two months. After another positive month in December of $9M, the next six are forecast to be negative again.
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  • Oct. 10, 2012, 6:44 PM
    Eastman Kodak (EKDKQ.PK) has reached a deal with a retirees committee to resolve the bankrupt company's retiree health care and survivor benefits liabilities, which surpass $1.2B and cost Kodak $10M/month. Kodak will provide the committee with a $7.5M cash payment, a $635M unsecured claim, and a $15M administrative claim to make payments to retirees. The deal has the support of Kodak's creditors committee.
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  • Sep. 28, 2012, 12:40 PM
    Eastman Kodak (EKDKQ.PK) will stop selling consumer inkjet printers in 2013 as part of its efforts to focus on commercial solutions. Kodak's move comes shortly after Lexmark announced plans to abandon the inkjet market, which has been hit hard by the adoption of online/mobile photo viewing. H-P (HPQ), whose printing division is posting revenue declines, stands to benefit from Kodak and Lexmark's moves. Separately, Kodak is asking a bankruptcy court to give it until Feb. 28 to file a restructuring plan.
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  • Sep. 28, 2012, 10:56 AM
    Kodak (EKDKQ.PK) says it will stop selling inkjet printers to focus selling on ink as it continues to rework its bankruptcy plans. The company sees the move helping it to boost cash flow in the first half of 2013.
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  • Aug. 24, 2012, 10:03 AM
    Shares of Kodak (EKDKQ.PK) roar to a 12.2% gain on word that the company plans to sell its document imaging business and iconic print film business to raise cash. The company sees completing the sales during the first half of 2013.
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Company Description
Eastman Kodak Co is a technology company providing imaging for business. It provides commercial products and services in technologies including materials science; digital imaging science and software; and deposition processes.