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Eastman Kodak Co. (KODK)

  • Mar. 2, 2012, 8:17 AM
    Shutterfly (SFLY) +14.5% premarket after acquiring Kodak's (EKDKQ.PK) Gallery online photo business. Jefferies reiterates its Buy rating and $30 price target on SFLY, saying "the deal should solidify the company's position further as the leader in online print, and present a number of opportunities for revenue and cost synergies over time."
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  • Mar. 1, 2012, 6:32 PM
    Bankrupt Eastman Kodak (EKDKQ.PK) agrees to sell its online photo services to Shutterfly (SFLY) for $23.8M. Accounts of Kodak Gallery’s 75M users in the U.S. and Canada would be transferred to SFLY under the agreement, which is subject to competing bids at an auction. SFLY +17.6% AH.
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  • Feb. 16, 2012, 10:42 AM
    Eastman Kodak (EKDKQ.PK) has won court approval to borrow $950M to carry out its post-bankruptcy restructuring plan. In addition, a judge has ruled the company can end a sponsorship agreement for the theater that hosts the Academy Awards.  (yesterday)
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  • Feb. 15, 2012, 12:44 PM
    Apple (AAPL) pushes to move forward with patent infringement litigation Kodak's (EKDKQ.PK) Chapter 11 bankruptcy halted, fearing that a disputed patent may be put up for sale as part of Kodak's restructuring. Apple says Kodak "misappropriated Apple's technology" to get the patent, which concerns a digital camera that can preview images on an LCD screen.
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  • Feb. 9, 2012, 9:07 AM
    Eastman Kodak (EKDKQ.PK) says it will take a $30M charge to exit the digital camera, pocket video camera, and digital picture frame business in H1. The former Dow 30 company plans to refocus on licensing out its brand and scoring revenue from online and retail-based photo printing.
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  • Jan. 20, 2012, 10:28 AM
    Here’s one way of understanding Eastman Kodak’s (EK) problems: The company has twice as many retirees drawing benefits in the U.S. as it has active employees worldwide. The company said in its Chapter 11 filing that it is liable for $1.3B in U.S. retirement benefits such as health care, plus $1.2B in non-U.S. pensions. (also)
  • Jan. 20, 2012, 10:05 AM
    Bankrupt Eastman Kodak (EK) is cleared by a judge to start borrowing $650M of its $950M loan from Citigroup, and gets to keep paying 17K employees, despite noteholders' objection that EK's profit record means it will "burn an additional $700M in what may be further folly."
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  • Jan. 19, 2012, 1:23 PM
    Eastman Kodak's (EK) road to bankruptcy is at heart a story of missed opportunities, notes Brian Bernstein. In spite of inventing the digital camera in 1975, Kodak saw its sales and profits collapse over the last decade as sales of film rolls, film prints, and analog cameras cratered. Other companies weighed down by their dependence on legacy technologies might want to take notice.
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  • Jan. 19, 2012, 12:51 PM
    Having filed for bankruptcy protection today, Eastman Kodak (EK) voluntarily delists from the NYSE. Its shares had traded below $1 for over 30 consecutive days, falling short of the exchange's minimum standard. For obituaries, see here, here and here. For how Fujifilm (FUJIY.PK) has prospered while Kodak has failed, see here.
  • Jan. 19, 2012, 11:08 AM
    Shares in Kodak (EK),which filed for bankruptcy today, were suspended after they fell 35.1% following the opening bell.
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  • Jan. 19, 2012, 7:15 AM
    Shares of Eastman Kodak (EK) fall 29.7% to trade at $0.39 per share after word of the firm's bankruptcy hits. As a point of reference, EK was the 10th largest company in the U.S. by market cap in 1984.
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  • Jan. 19, 2012, 1:08 AM
    Eastman Kodak (EK) files for bankruptcy, and has obtained a $950M, 18-month credit facility from Citigroup to continue operating during chapter 11. (PR)
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  • Jan. 18, 2012, 5:02 PM
    Eastman Kodak (EK +4.4%), whose shares were volatile today on Einhorn-related rumors, is planning to appoint a chief restructuring officer to oversee bankruptcy proceedings, claims the WSJ. The company hopes such a move will make it easier for it to obtain the financing it needs to stay afloat.
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  • Jan. 18, 2012, 1:40 PM
    Shares of Eastman Kodak (EK +11.7%) have swayed all day with on-again, off-again rumors of a position taken out by David Einhorn's Greenlight Capital. While traders maintain Einhorn discussed EK at a corporate dinner last night, the firm's Q4 report held nary a word about the embattled tech firm.
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  • Jan. 17, 2012, 9:25 AM
    Premarket gainers: VQ +50%. CNVO +48%. DNN +17%. PVX +15%. TSLA +15%. ISTA +11%. EK +10%. ING +8%. AEG +8%. FRO +8%. AVL +7%. QCOR +7%. BRD +6%. NBG +6%. RBS +6%. NOK +6%. TTM +5%. JASO +5%. MTL +4%. BHP +4%. SINA +4%. RIO +4%. ASML +4%. HMA +4%. WFR +4%. GMCR +3%. TSL +3%. HL +3%. AVNR +3%. HMY +3%. NDCO +3%. CLWR +3%. BIDU +3%. TOT +3%. BSBR +3%. BUD +3%. FCX +3%. CS +3%.
    Losers: CUK -16%. CCL -15%. KGC -8%. RCL -7%. C -5%. MTG -5%.
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  • Jan. 13, 2012, 4:22 PM
    Fujuifilm (FUJIY.PK) joins the list (previous) of tech firms hearing from attorneys with Eastman Kodak (EK) after a complaint is filed in New York alleging the firm infringed on patents related to Kodak digital imaging technology. Shares of EK +2% AH to $0.52.
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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.