Tuesday, June 24, 2008

Kodak (NYSE EK) again making news on product, financial fronts

Wall Street is being buoyed today by Eastman Kodak Company's stock buy-back announcement, with shares of EK up about 15% in mid-day trading. (See "Eastman Kodak rallies on buyback plans".) With Kodak's share price at historic lows recently ($12.34 close on Monday), management no doubt feels like they're bargain hunting with the $1 billion earmarked for share re-purchase. (Also see Kodak's official press release for further details.)

On the product front, Motorola (NYSE MOT) and Kodak have teamed up on the new Motozine ZN5 camera phone. (See "Can a cell phone replace your digital camera?") Interesting that Kodak had a release yesterday entitled "KODAK Imaging Technology Takes Aim at the Mobile Imaging Market" that doesn't mention the Motozine or Motorola.

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