Eastman Kodak ein Vervielfachungskandidat ?

Was passiert mit den 150 Mio. $ ?
Ein Analyst sieht es als Kauf Chance !

http://www.thestreet.com/story/11259143/1/...lyst.html?cm_ven=RSSFeed

zum neuen Jahrestief. Phantasie schon wieder verbufft. Momentan drängt sich kein Kauf auf!

 

Statement abgibt, verunsichert schon.
Ich bin hier kniertief in der Aktie drinnen. Ich kann nur hoffen, dass dieses Kapitel doch noch ein positives Ende nimmt.  

http://www.faz.net/artikel/C31163/...schlecht-belichtet-30724760.html

 

zum Glück,habe nochmal kräftig aufgestockt eine Pleite wäre eine Katastrophe,
aber wenn der Patentverkauf kommt dann gehts hier rund und sie hat luft bis mind. 5$

...nachstehend eine kleine kodakstory, bevor es zur sache geht sozusagen:

In Kodak's troubles, a snapshot of an icon's fall
Eastman Kodak's troubles provide snapshot of the fall of an American icon

Ben Dobbin, AP Business Writer, On Wednesday October 5, 2011, 1:30 pm EDT

ROCHESTER, N.Y. (AP) -- Buffeted by foreign competition, then blindsided by a digital revolution, photography icon Eastman Kodak Co. is fighting for survival after a quarter-century of failed efforts to find its focus.

The 131-year-old company that turned picture-taking into a hobby for the masses and became singularly synonymous with capturing memories has tried to bat down sudden talk of bankruptcy. But concern about its grim prospects has hit fever pitch after it enlisted a legal adviser to explore ways to revive its sagging fortunes.

The collapse of such a legendary brand would not only reverberate through American business, but would also have a profound cultural effect on generations worldwide who took their first snapshots with film cameras bearing the unmistakable yellow-and-red K logo.

"You could look up and see that yellow sign all over the world -- no matter where you went, people depended on that for their memory-recording," said photography writer John Larish, who worked for Kodak in the 1980s as a senior market-intelligence analyst.

"With the advent of digital or even cell-phone cameras, Kodak wasn't in the game," he said. "I see the company now as something we will write about in history books."

Already jittery shareholders were rattled Friday when word leaked out that Kodak has hired Jones Day, a law firm that dispenses advice on bankruptcies and other restructuring options. Its stock, which topped $94 in 1997, skidded to an all-time low of 78 cents a share.

After markets closed, Kodak insisted in a statement that it had no intention of filing for bankruptcy protection and described Jones Day as one of several advisers helping its management close out a stumbling, decade-long drive to recast itself as a digital photography and printing powerhouse. Its stock rebounded this week to $1.12.

But investor alarm about whether it has the financial wherewithal to complete its turnaround is raising the seemingly inescapable specter of job cuts -- and the threat of extinction. Kodak has already sliced its global payroll to 18,800 from a peak of 145,300 in 1988, and its hometown rolls to 7,100 from 60,400 in 1982. Employees say they're even more scared than usual that the latest crisis could sink careers that somehow dodged decades of cutbacks.

Chemist Kenny Baptiste says something other than talent and hard work has kept him in his job for 19 years.

"I call it luck -- I'm not going to sugar-coat it at all," said Baptiste, 43, who joined Kodak's research division out of college and has two young children. "I always say, I don't believe I'm better than some of the people that have gone."

Along with a rich portfolio of 11,000 patents, "we have some very innovative product ideas in the pipeline," Baptiste said. "It's not fair to think of us as finished. I don't think we're down for the count, I really don't."

The transition to a world without film occurred at lightning speed, and Kodak is still playing catch-up in securing a firm foothold in the amorphous realm of electronic media.

"It's shocking how quickly Kodak has gone to no longer being a (familiar) name in nearly every household in Western culture," said Robert Burley, a photography professor at Ryerson University in Toronto.

"I've watched this train wreck happen over the last five years and I'm still surprised at it and still trying to understand how everyone's relationship to photography is changing."

While Kodak invented the world's first digital camera in 1975, a reluctance to ease its heavy reliance on high-profit film allowed Japanese rivals like Canon and Sony to rush largely unhindered into the fast-emerging digital arena in the late 1990s.

Finally launching a four-year digital makeover in 2004 -- the year it got ejected from the 30-stock Dow Jones club -- Kodak closed aged factories, chopped and changed businesses and eliminated tens of thousands of jobs. It closed 2007 on a high note with net income of $676 million, then ran smack into the recession.

Kodak's meteoric rise to blue-chip status in the 20th century was emblematic of what American business is capable of, but technological innovation doesn't "stand still," said Mark Zupan, dean of the University of Rochester's Simon Graduate School of Business Administration.

"Of the companies in the original Dow Jones index 100, only one survives -- General Electric," Zupan said. "With the challenges companies face, it's incredibly hard to sustain being at the top of the world. We've seen Hewlett-Packard go through this, IBM was on the point of death for a while, Goodyear was near Chapter 11 and turned around, but it doesn't always work out."

Rochester was a prosperous shoe, clothing and horticulture hub of 90,000 back in 1880 when George Eastman, engrossed in an arcane art called photography, quit his bank clerk job to perfect a set of home experiments that rapidly transformed a hobby into a mass commodity. In place of heavy glass plates, Eastman devised a flexible cellulose film that he sold preloaded in box cameras. He made up the name Kodak because he liked the letter K -- "strong and incisive." Framed in yellow, it became one of the most recognizable brand names on earth.

In 1900, Eastman came out with a $1 Brownie, turning point-and-shoot photography into an overnight craze. By 1927, Kodak held a virtual monopoly of the U.S. photographic industry. And in the 1960s, its easy-load Instamatic 126 became one of most popular cameras ever, practically replacing old box cameras.

Besides making it possible for countless millions to freeze-frame their world and their memories in hand-size prints, Kodak was a corporation extolled for taking care of its own. Going to work for Kodak, known as "taking the life sentence," became a rite of passage for generations.

Eastman's munificence was equally legendary. He pumped his riches into hospitals, universities and parks, creating thousands more jobs. His name pops up around every corner here: the Eastman School of Music, the Eastman Dental Center, Durand-Eastman Park.

Entering the 1980s, Kodak still cornered nearly two-thirds of color-film sales worldwide. But excessive caution in exploiting new markets, such as point-and-shoot 35mm and single-use cameras, was taking its toll. The innovative Japanese were plundering Kodak's fat profit margins. Fuji jumped from obscurity to within a whisker of edging out $16 billion Kodak as No. 1.

Mass layoffs came every few years, testing like never before a cozy relationship of company and community that was perhaps unequaled in the annals of American business.

Bill Hargreaves, a Kodak technician for 28 years, said his father spent his entire career as a machinist at Kodak after World War II, retiring in 1971. "He was there when Kodak was the best place in the world to work," he said.

But Hargreaves opted for early retirement in 1991 just as belt-tightening was making the workplace environment "rougher and rougher each year." He worries now that his continuously clawed-back retirement package might someday vanish.

After four years of red ink, Kodak has projected crossing back to profitability in 2012 on the strength of deep investments in digital inkjet printers. Its sales have fallen to $7.2 billion.

Mining its patent portfolio has raised nearly $2 billion in licensing fees since 2008, and it is pinning its hopes on a potential $3 billion sale of its 1,100 digital-imaging patents.

The question now is whether those measures will be enough to keep Kodak afloat. The company had $957 million in cash as of June 30, down from $1.6 billion in January.

One telling measure of its demise is "the Kodak trademark doesn't carry the weight it did," Larish said. "The last couple of generations know Sony, even LG and Samsung, but they don't know Kodak. Kodak is not the first name in imaging anymore."  

 

 

Eastman Kodak hat massive Verlustvorträge in der Bilanz.
Diese kann ein Käufer zum Teil aktivieren.

"As of December 31, 2010, the Company has net deferred tax assets before valuation allowances of approximately $3.1 billion and a valuation allowance related to those net deferred tax assets of approximately $2.3 billion, resulting in net deferred tax assets of approximately $0.8 billion."


Qulle: http://messages.finance.yahoo.com/Stocks_(A_to_Z)/...;tof=1&frt=2  

Kodak President and Chief Operating Officer Phil Faraci

http://blog.infotrends.com/?p=5433#more-5433  

It's Time To Buy Kodak On Capitulation

by: ChartProphet October 3, 2011 | about: EK

In late June I wrote that Eastman Kodak (EK) “may be one of the top contrarian value plays of the year.” The company that once dominated film and related businesses, and spent 74 years in the Dow Jones industrial average (top-tier companies only), may never return to profitability or stage a big enough comeback to compete with the much bigger Canon (CAJ), Sony (SNE), Xerox (XRX) and others. However, with the company now valued at only $200 million, Kodak’s increasing appeal as a takeover target makes it a very interesting speculative bet.

Kodak may have a very small chance of ever returning to profitability. But as I mentioned in June, there are plenty of reasons why Kodak could be a rewarding buy:

1) Extremely Low Expectations. “The stock price has dropped so much that expectations of failure may be already priced in…any good news for the company or improved financials could send the stock soaring as investors start paying attention to the company again.”

2) Company Components Worth More Than The Stock. Perhaps Kodak’s biggest catalyst, the patent portfolio the company owns could be worth one or two billion dollars! The company stock may be trading for only $200 million, but if Kodak has billions of dollars worth of very important patents (rights to 11,000 of them), it may well be worth much more than the sum of its parts. And with very large recent interest over patent disputes and patent sales for companies like Google (GOOG), Samsung (SSNLF.PK), and Apple (AAPL), Kodak could be a huge beneficiary of demand for its vital patents.

3) Lots of Cash. The company may have large debt as well, but its cash of nearly $1 billion adds value per share.

4) Brand Name Recognition. “Kodak has been a household name for over 100 years. Even as a failing company, the Kodak name still holds some considerable value. And with the stock at such depressed levels, a bet on the brand name may be best taken now.”

5) Buyout Candidate. “Kodak may be doomed to stage a comeback or even fail, but the combination of a desirable patent portfolio, recognized brand name, respectable cash levels, and dirt-cheap company make Kodak a potential buyout candidate as well. In other words, even if the company is failing, a larger company may come in and buy Kodak out for a premium over current prices.”

6) Huge Short Interest. Also a sign of extremely low expectations for the company, the large 33%+ short interest in Kodak stock adds tremendous value as a short-squeeze play. In other words, so many people are betting against the company right now, that if any decent news even comes out, the stock could soar.

Based on my June article, I bought call options to profit from a rise in Kodak (EK) shares. Though the stock is down big since that article, I was able to time the Kodak trade very well. While Kodak rose approximately 20 percent in June, my option bets were up over 135 percent.



Once the technicals began to weaken in late June, I decided it was time to sell out of my Kodak position and await a better entry point. At the same time, however, I have kept in mind that Kodak is a tremendously appealing takeover target and could see a huge price increase when larger companies begin to bid for it. Bankruptcy is not to be ignored, but with so much value in its patent portfolio, brand name, and individual parts of the company, Kodak could be bought out for $3/share or more (a 200% premium above current prices).

On Friday, September 30, Kodak fell over 50% “on a report the company is hiring restructuring lawyers. Two days ago, Fitch cut its rating on Kodak's debt to a level suggesting a default is probable (SeekingAlpha, Market Currents).” I liked the stock as a takeover target at $3, so seeing it at under 70 cents a share was a HUGE bargain for me. I understood that bankruptcy was a factor, but a well-placed options bet would help me limit risk and have big-time profit potential from a Kodak bounce or takeover.

I bought rights to over 10,000 shares of Kodak (EK) stock for approximately $1,500. Instead of placing a huge bet on the stock itself, and taking a big risk if Kodak collapses, I simply bought call options that would soar in value if any good news came out. If, for example, Kodak is bought out for $3 or $4/share, I own 10,000 shares – and I only paid $1,500 for that opportunity. If I’m wrong, I lose $1,500; but if I’m right, I can gain $10,000 or even $30,000. That’s a nice risk-reward ratio.

Making the trade profitable right away, Kodak announced quickly after the bell on Friday that:

It has no intention of filing for bankruptcy, refuting earlier reports: "It is not unusual for a company in transformation to explore all options and to engage a variety of outside advisers, including financial and legal advisers." EK +41% AH. (Seeking Alpha, Market Currents)

The stock is up nearly 70% today (Monday), but the good news may only be in its beginning stages. I think there is a huge possibility that Google (GOOG), Canon (CAJ), Sony (SNE), Apple (AAPL), Xerox (XRX), or another large player comes in and scoops up Kodak for the extreme value it presents. Paying $500 million or $1 billion for Kodak would be a steal!

Investors should therefore prepare for a takeover by buying Kodak with limited risk. To do so, I have bought call options

for what I have determined to be my “maximum loss.” I am risking only $1500, but have the rights to over 10,000 shares. If anything decent happens, I will more than double my money; if the company is bought out, I will see gains of over 1,000%.

Kodak offers tremendous upside potential, allows investors to limit their risk through call options, and provides an outstanding takeover candidate for the larger companies who see the huge value in Kodak’s brand name and patent portfolio. Buying the company is a steal for the larger players in the space; buying the stock may be a steal for investors.  

Statement from 6th. Oct. 11
Eastman Kodak Co. (EK, $1.45, +$0.23, +18.85%) shares are jumping because it is apparently getting tougher for investors to bet that the stock price will decline. Wednesday, the stock appeared on the New York Stock Exchange's "threshold" list, meaning there have been problems settling up the stock's trades, a sign to some that the shorts aren't able to "borrow" shares to drive the stock further down. "Shorts are out of ammo!" Kodak shareholder Ken Luskin of Intrinsic Value Asset Management proclaimed, adding that the shorts may now rush to cover their positions, further lifting shares.  

die Liste mit dem fehlgeschlagenen Short-Attacken wird länger

EK     Eastman Kodak Co                                          3 days


http://www.bloomberg.com/news/2011-10-10/...-7-table-.html?cmpid=yhoo  

krauty, die uhr tickt. zeit läuft den shorts davon. gut so!

auch interessant:
http://www.smallcapnetwork.com/...a/3420/article/view/p/mid/1/id/284/  

http://whattheythink.com/articles/...faraci-clarifies-kodak-position/

Lesenswert.  

 

 

bei einem shortanteil von 26% wird´s BBQ lange dauern
kohlen hätten wir ja genug dann :-)
mir bitte den bankerspieß reservieren  

 

Eastman Kodak Said to Face Pressure From Bondholders on Sale of Patents

http://www.bloomberg.com/news/2011-10-12/...f-patents.html?cmpid=yhoo  

 

For those that may think Kodak will never get anything out of those 2000 pending patents, here is an overview of those GRANTED in OCT 2011.

That is, ONLY those granted this month (4th and 11th OCT 2011). It gives a good idea of what field the others that are not published are in and about the diversity of those patents. The full texts of these patents can be found at USPTO using the patent number to look them up.

8,036,583 Preheating of substrates
8,036,481 Image processing apparatus and image restoration method and program
8,036,467 Method for creating and using affective information in a digital imaging system
8,036,417 Finding orientation and date of hardcopy medium
8,035,836 Fast job halt in a high speed press
8,035,771 Stereoscopic 3D liquid crystal display apparatus with structured light guide surface
8,035,747 Image digital processing based on edit status
8,035,702 Pixel defect correction device for line crawl
8,035,671 Dual-use sensor assembly for a thermal printer
8,035,657 Camera and method for creating annotated images
8,035,654 Tuning cell sizes in interpolated lookup tables
8,035,609 Imaging element
8,035,482 System for updating a content bearing medium
8,035,109 Display device including EL element
8,035,093 Movable media tray with position reference marks
8,034,784 Method of suppressing or reducing IL-TIF-induced inflammation, or treating associated conditions thereof, using Zcytor16
8,034,663 Low cost die release wafer
8,034,540 System and method employing secondary back exposure of flexographic plate
8,034,538 Negative-working imageable elements
8,034,422 Glossy inkjet recording medium and methods therefor
8,034,343 Methods of treating inflammatory disorders of the lungs
8,033,666 Beam alignment system using arrayed light sources
8,033,650 Paired drop ejector
8,033,647 Liquid drop dispenser with movable deflector
8,033,646 Liquid drop dispenser with movable deflector
8,033,643 Recyclable continuous ink jet print head and method
8,033,628 Signal processing of indicia for media identification
8,033,625 Apparatus and method of filling ink tank
8,033,545 Method and control arrangement for transporting printing material
8,032,824 Systems and methods for comparing documents containing graphic elements
8,031,938 Method and apparatus for providing improved human observer XYZ functions and calculations for CIELAB
8,031,911 Print proofing using mottling tile
8,031,775 Analyzing camera captured video for key frames
8,030,313 Controlled release sterile injectable aripiprazole formulation and method
8,030,275 Methods for treating obesity using fibroblast growth factor-like polypeptides
8,030,212 Process for selective area deposition of inorganic materials
8,030,094 Self-encoding sensor with microspheres
8,029,769 Protein formulation
8,029,686 Method of fabricating an ink jet nozzle with a heater element
8,029,286 Self-etching dental compositions and methods
8,029,139 2D/3D switchable color display apparatus with narrow band emitters
8,029,117 Selectable fill volume for ink reservoir
8,029,107 Printhead with double omega-shaped heater elements
8,029,105 Ambient plasma treatment of printer components
8,029,102 Printhead having relatively dimensioned ejection ports and arms
8,029,101 Ink ejection mechanism with thermal actuator coil  

krauty, kann nur empfehlen, nach dem bloomberg artikel nochmal das interview durchzulesen.

@popeye: abgesehen vom hohen short und -illegalen - naked short aufkommen es gibt noch zusatzmeinungen bzgl. käuferinteressen der patente im insolvenzfall (initiativen auch von firmen, die zueinander in konkurrenz stehen, da bei insolvenz patentrechtsvorvereinbarungen ihre gültigkeit verlieren. z.B. google hätte wieder anspruch auf patente, die sich apple bereits vorvertraglich gesichert hat, bzw. ein dritter mitbewerber kann wieder ins spiel gebracht werden, d.h. die karten müssen neu gemischt werden usw.)

zur info (kaufvolumen letzte handelsstunde):

http://ih.advfn.com/p.php?pid=trades&symbol=ek

 

mir nicht richtig.
Irgendwelche Auffälligkeiten?
Tja, was soll man aus dem Potpourri aus Medienmeldungen machen?
Ich bin langsam echt verwirrt.  

das potpourri aus meldungen unterschiedlichster art kann sich sehen lassen, hast recht krauty.

im allgemeinen siehts aus wie immer, es gibt einige die schmeißen - und viele, die jetzt nachkaufen. welchen zugang haben einige derer, die jetzt impo zukaufen:

MM´s benötigen frisches kapital und wollen alles und jeden wieder loswerden, die seit dem bounce da günstig drinne sind, weil EK kurs nach oben korrigiert gehört.

Dies einer der letzten großangriffe  des großkapitals war, um günstigst zu EK assets und u.a. zu den patentrechten zu kommen (wenn die spielen geht´s richtig in die vollen, mit PR, medienpartner wie z.b.  bloomberg, kampagnen, bezahlte MMs, rumour-agencies u.v.m.)

Die shortrates rückreguliert werden und naked-short seller bald aus dem verkehr gezogen werden.

Hinter EK auch viel power und macht steht!

...man wird sehen wer die battle gewinnt, das EK im pennyland landet, ist schwer vorstellbar. insolvenz bei diesen assets und jüngstem geschäftsverlauf ebenso. jedoch sind unternehmensentwicklungen ab und an nicht rational motiviert.

na schaunmamal, ich denke eine baldige korrektur ist nicht auszuschließen

(n.m.M.)