Posts Tagged ‘EK’

Eastman Kodak (EK) surges after bigwigs boost share holdings

Wednesday, May 18th, 2011

Eastman Kodak Co. (NYSE: EK) shares rose 17% to $3.65 after a regulatory filings available late Tuesday showed the photography icon’s CEO and chief financial officer purchased 36,532 shares on May 13.

Kodak’s Chief Executive Officer Antonio Perez told employees that recent Kodak stock purchases reflect management’s faith in the photography pioneer’s future.

Some analysts suspect, however, that the stock price surge reflects Kodak’s recent preliminary triumphs over smartphone giant Apple Inc. (Nasdaq: AAPL) in their patent-litigation battle before the U.S. International Trade Commission, a federal agency that oversees trade disputes.

Regulatory filings late Tuesday revealed that Perez and Richard Braddock, the presiding director of Kodak’s board, each purchased shares valued at around $200,000. Chief Financial Officer Antoinette McCorvey bought shares worth about $36,000.

Perez told employees on an internal website that the purchases “reflect our confidence in the company’s future and our belief in the potential of the Kodak transformation” into a digital photography and printing powerhouse.

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EK in picture, C rumbles, CBEH wobbles

Monday, March 28th, 2011

Eastman Kodak Co. (NYSE: EK) shares rallied 10.9% to $3.77. Volume of nearly 39 million shares during the morning proved nearly quadruple its full-day average. The U.S. International Trade Commission said Friday it will review a patent decision that went against Kodak in January.

Citigroup Inc. (NYSE: C) dealt in nearly 78 million shares early Monday, rapidly gaining on a full-day average of 487.2 million. Share prices for C, however, stumbled 0.8% to $4.43, amid word of a drop in short interest for Citi and Bank of America.

China Integrated Energy Inc. (Nasdaq: CBEH) share prices trailed Friday’s close by 24.6% to $2.83, on volume of 3.8 million shares, dwarfing its all-day average of 853,489.

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BIOF busy, BAC in trouble, EK out of focus

Wednesday, January 26th, 2011

BioFuel Energy Corp. (Nasdaq: BIOF) shares improved 18.1 percent to $1.24, on volume of 384,014 shares, just outdistancing its daily average.

Bank of America Corp. (NYSE: BAC) exchanged 65.7 million shares Wednesday, compared to a daily average of 204.5 million. Share prices improved 0.3 percent to $13.67, after the bank was sued by mortgage investors over what they called “massive fraud”.

Eastman Kodak Company (NYSE: EK) shares tumbled 16.6 percent to $3.77, on volume of 35.5 million – four times its daily average — after EK reported its quarterly profit plunged 95 percent and revenue tumbled 25 percent on steep declines in its digital business as well as a drop in intellectual-property licensing revenue.

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EK in the picture, WFC opens vault, GAGA goes down

Thursday, December 9th, 2010

Eastman Kodak Company (NYSE: EK) jumped 11.64 percent to $5.32. Volume in the stock was 34,437,094 shares, or greater than six times normal share volume.

Wells Fargo & Company (NYSE: WFC) proved one of the main stocks for volume Thursday, trading in 38,037,913 shares, fairly consistent with its daily average. WFC prices gained a healthy 2.38 percent to $30.07. WFC, based in San Francisco, announced Thursday it has introduced an ATM Cash Tracker service to help customers manage their finances.

Le Gaga Holdings Limited (NasdaqGS: GAGA) was one of the biggest losers on the markets Thursday, dropping 18.53 percent to close at $7.30. Volume ahead of the bell was 510,739 shares, shy of its average of 711,511. The Hong Kong-based GAGA is one of the largest greenhouse vegetable producers in China as measured by the area of greenhouse coverage and one of the fastest growing major vegetable producers in China.

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Eastman Kodak, Co. (EK) – Buzz Stock of the Day

Tuesday, October 12th, 2010

Eastman Kodak Company Common StEastman Kodak Co. (NYSE: EK), the 130-year-old camera maker, announced Tuesday Antoinette McCorvey will replace Frank S. Sklarsky as Chief Financial Officer and Senior Vice President effective November 5, 2010.

Currently Director of Investor Relations, McCorvey was promoted to CFO following the resignation of Frank Sklarsky, who is moving to Tyco International (NYSE: TYC). News of Kodak’s internal restructuring boosted shares as much as $0.08, or 1.9%, from Monday’s closing price of $4.22. Before Monday, Kodak shares were unchanged this year.

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Eastman Kodak Co. has experienced decreasing sales over the last four years as the company transitions from traditional film business segments to focus on consumer and commercial printing. Sales have slipped from $14.3 billion in 2005 to $7.6 billion in 2009, with Bloomberg data analysis estimating sales will fall an additional 5 percent this fiscal year.

Additionally, Fitch Ratings announced on Tuesday that it had cut Eastman Kodak Co.’s rating outlook to negative from stable and affirmed its issuer default rating at B-. In a statement regarding the move, Fitch said, “The negative outlook reflects Kodak’s continued struggles to gain traction in its digital business segments as secular declines accelerate in the traditional film business.” About $1.6 billion in debt will be affected by the move.

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