Any Kodak News?

[Ted Striker]

Has anyone heard big news about Kodak? I ask because the stock has absolutely rocketed up this week, up +20%! That is a massive move to the upside and for the life of me I can't find any news at all to justify such. The long term trend has been down for several years and the last quarterly report was more of the same, less and less revenue as the business continues to shrink. To pop 20% on no news is VERY strange.

I wonder if a Kodak take over is in the works. Just speculation on my part, but it just defies common sense that the stock would pop 20% on no news. Volume is also very heavy with nearly 1 million shares trading hands compared to a normal day of just 100,000.

I'd love to trade this stock but I don't have the stones to have more than a few shares at any one time.

 

[css9450]

We were just talking (yesterday I think?) about the return of Ektachrome on 120 and 4x5, but I can't imagine that alone could carry them to higher stock prices. Is HHPhoto/Skiff online? He might know some scoop.

 

[Ted Striker]

We were just talking (yesterday I think?) about the return of Ektachrome on 120 and 4x5, but I can't imagine that alone could carry them to higher stock prices. Is HHPhoto/Skiff online? He might know some scoop.

Yeah I heard that too, but agree, there's no way something like that would move the stock to such an amazing amount. It would be great if sales of Ektachrome were high enough to do that, but that's not realistic at all.

 

[ptpdprinter]

So Kodak is up 20% and still trading under $3 a share. I'd say nothing is happening.

 

[fiddle]

Kodak's Karfunkel acquires over 4.4M common shares
In a regulatory filing, Eastman Kodak director George Karfunkel disclosed the acquisition of 4,437,605 common shares of the company at a price of $2.50 per share on December 3.

 

[benlees]

Seems like a buyback. This could be good or bad. Good: increases share value and could indicate confidence in the future via consolidated control. Or it could mean an attempt to create a short term last hurrah (hopefully attracting investment) to boost stock price with further declines expected (but wanting to be avoided) long term.

 

[Ted Striker]

Kodak's Karfunkel acquires over 4.4M common shares
In a regulatory filing, Eastman Kodak director George Karfunkel disclosed the acquisition of 4,437,605 common shares of the company at a price of $2.50 per share on December 3.

Interesting. Thank you very much.

 

[Ted Striker]

So Kodak is up 20% and still trading under $3 a share. I'd say nothing is happening.

Kodak has popped an additional 8% today bringing the gain to nearly 30% in the past 2 days.

 

[fiddle]

Sorry, have to agree with ptdprinter.
They are selling off devisions to gain capital. Earnings report for the quarter includes a going concern from within.

Alaris won a patent dispute though! Some liscesing cash flow..

2Q revenue $372m, down $9m y/y
2Q operational Ebitda $9m, down $3m y/y
KODK now sees 2018 operational Ebitda of $55m-$60m
vs its prior forecast of $60m-$70m; the firm cited

 

[RObert Budding]

Kodak has popped an additional 8% today bringing the gain to nearly 30% in the past 2 days.

Yes, you are right that 20% or 30% are huge movements. It's silly to bring the share price up because you still get the pop on total $$$'s invested.

 

[markjwyatt]

Kodak is doing pretty well, but I suspect it has little to do with film sales (though that did not hurt). One thing recently is they sold off a division and got a nice chunk of cash.

If you read the recent earning's transcript, they barely mentioned film. Most of the discussion was around their printing technologies. Here is the only mention of film I could find,

"We’re going to leverage our Advanced Materials technology in our Core Print and Film business. We will continue to innovate in both areas. "

https://seekingalpha.com/article/43...-results-earnings-call-transcript?part=single

 

[DanskDynamit]

Kodak is doing pretty well,

Kodak didn't make a profit over the last 12 months.

 

[Ted Striker]

DAMN!!! Kodak popped for another 10% yesterday. That makes 40% increase in the last few weeks. Again on NO NEWS aside from an insider buying some shares.

That does not explain such a massive move to the upside as Kodak's revenue has severely contracted in the past few years and especially the last quarter.

I suspect a takeover is in the works. Insiders are getting in so that they can get huge profits from a takeover.

 

[Ted Striker]

The stampede to the upside continued yesterday with yet another near 10% gain for Kodak shares. That's a 47% in just the past week or so. An astonishing move that really needs an explanation.


What is going on????

 

[RObert Budding]

The stampede to the upside continued yesterday with yet another near 10% gain for Kodak shares. That's a 47% in just the past week or so. An astonishing move that really needs an explanation.


What is going on????

Are there any Kodak pension funds left to raid? Or substantial numbers of US jobs to outsource?

 

[sepiareverb]

Where are they making film?

 

[Ted Striker]

Are there any Kodak pension funds left to raid? Or substantial numbers of US jobs to outsource?

No and no. Kodak is a pretty small company these days. Just a shell of its former self. Hard to believe but at one time Kodak was in the Dow. Today it almost was de-listed from the NYSE. That's how small they are today.

 

[Ted Striker]

Where are they making film?

Same place they always have been, Rochester NY.

 

[RObert Budding]

No and no. Kodak is a pretty small company these days. Just a shell of its former self. Hard to believe but at one time Kodak was in the Dow. Today it almost was de-listed from the NYSE. That's how small they are today.

Wow. Their market cap is only around $150 MM. They could be an acquisition target, but premiums above market are usually far less than 50%.

 

[Ted Striker]

Wow. Their market cap is only around $150 MM. They could be an acquisition target, but premiums above market are usually far less than 50%.

Yes, that is the only logical reason the stock could be popping so high these past few weeks. I wonder who would want to buy Kodak. Such news won't stay hidden for long.