STOCKS TELEGRAPH

Tag: NYSE: KODK

  • What Took Kodak (KODK) Stock As High As 88%

    What Took Kodak (KODK) Stock As High As 88%

    In the main trading session, Eastman Kodak Corporation (KODK) shares rose 59.89 percent on Monday, and then added another 9.3 percent in the post market. This was due to the news that no irregularities were found by the Supervisory Authority in securing a loan for the creation of a pharmaceutical industry business.

    Kodak is an American company that manufactures photographic products for different forms of printing, as well as machinery and materials.

    The company concentrated on the launch of a new pharmaceuticals market. Kodak has already planned to manufacture certain drugs, including hydroxychloroquine, an anti-malarial drug, which is thought to have some promise in the battle against COVID-19. In the United States, the firm is projected to manufacture 25 percent of all non-branded drug components.

    Kodak had to get a government loan earlier this summer to expand its operations. Around a week in advance, the company heard about its receipt. Immediately before the news of the loan was released, the executives issued options on Kodak shares. An internal investigation found that in these acts there were no violations.

    Stocks received a boost on Monday after a government watchdog said that by giving the organization a $765 million government loan to assist with the transition, the U.S. International Development Finance Corporation (DFC) did nothing wrong.

    The DFC Inspector General exempts himself from breaches in the study, as no proof of conflict of interest involving employees of the Department has been identified. The inquiry was narrow: as the focus of the Agency was on matters relating to the DFC’s competence and authority.

    When the loan was initially revealed, Kodak shares soared, but plummeted after it was suspended because of concerns about suspected violations. The market reacted to the report of the Inspector General as if Kodak was going to get a loan again which influenced the growth of stocks yesterday. While Kodak has justified its actions, the Securities and Exchange Commission (SEC) and Congress continue to investigate the issue.

    Kodak shares have risen by 158.9 percent since the beginning of the year.

  • Early Morning Vibes: 4 Hot Stocks for Tuesday Trading

    Early Morning Vibes: 4 Hot Stocks for Tuesday Trading

    On December 7, the American stock exchanges closed in different directions. The S&P 500 index fell 0.19% to 3692 points, the Dow Jones fell 0.49%, the NASDAQ added 0.45%. The correction was driven by partial profit taking after hitting new all-time highs at the end of last week. Communications and IT outperformed the market, adding 0.26% and 0.61%, respectively, on the back of Apple, Facebook and Netflix. The most pronounced was the profit-taking in cyclical sectors, with energy companies losing 2.44%.

    Company news
    Software developer Palantir Technologies (PLTR: + 21%) has received a contract from the Food and Drug Administration (FDA) for $44.4 million.
    Cisco (CSCO: + 0.1%) acquires UK communications software developer IMImobile for $730 million, complementing the Webex Contact Center platform.
    Today, global stock markets show mostly sideways dynamics, as there are no new drivers of movement. On the one hand, the investment community is still worried about the continued difficult epidemiological situation in the United States and the threat of renewed quarantine restrictions. After their introduction in California, the mayor of New York announced that restaurants in the city could completely suspend operations if the hospitalization situation did not improve within five days.
    On the other hand, the expected approval of the first covid-19 vaccine in the States this Thursday, as well as the prospects for a new economic aid program in the next two months, remain supportive factors. In general, negative and positive balance each other, but their balance cannot be called stable. The Brexit factor is relatively neutral for the American stock market, as well as the instability of relations between the US and China. Despite the introduction of new personal sanctions by the Trump administration, Chinese officials expressed optimism about the prospects for discussing a second phase of the trade deal with Joe Biden next year.

    Today Top Movers

    Eastman Kodak Co (KODK) share price reporting an increase of 9.22% in premarket today following the clearance from the U.S. government.

    Xpeng Inc (XPEV) adding 3.95% in Tuesday’s premarket session after reporting proposed follow-on public offering of American depositary shares.

    Stitch Fix (SFIX) is up 33.63% in early morning today after releasing its financial results for the first quarter of fiscal year 2021 ended October 31, 2020.

    Foley Trasimene Acquisition II Corp (BFT) share price soaring 18.58% in premarket session on Tuesday following the announcement of its merger agreement with Paysafe Group Holdings Limited.

    Top Upgrades & Downgrades

    JP Morgan turned bullish on QEP Resources Inc. (QEP), upgrading the stock to “Overweight”.

    ON Semiconductor Corporation (ON) has won the favor of KeyBanc’s equity research team. The firm upgraded the shares from Sector Weight to Overweight and moved their price target to $37.0.

    Equifax Inc. (EFX) received an upgrade from analysts at Barclays, who also set their one-year price target on the stock to $210.0. They changed their rating on EFX to Overweight from Equal-Weight.

    Earlier Tuesday JP Morgan reduced its rating on EQT Corporation (EQT) stock to Neutral from Overweight.

    Latest Insider Activity

    Zynga Inc. (ZNGA) President of Publishing Kim Bernard Jin announced the sale of shares taking place on Dec 04 at $8.50 for some 11,985 shares. The total came to more than $0.1 million.

    Lemonade Inc. (LMND) Director Eisenberg Michael A sold on Dec 04 a total 53,313 shares at $81.58 on average. The insider’s sale generated proceeds of almost $0.53 million.

    MultiPlan Corporation (MPLN) Director AUGUST GLENN R declared the purchase of shares taking place on Dec 04 at $7.00 for some 100,000 shares. The transaction amount was around $0.7 million.

    Gogo Inc. (GOGO) Director CRANDALL ROBERT L bought on Dec 02 a total 20,000 shares at $10.32 on average. The purchase cost the insider an estimated $206,360.

    Earnings To Watch Today

    Top US earnings releases scheduled for today include GameStop Corp. (NYSE:GME). It will announce its Oct 2020 financial results. The company is expected to report earnings of -$0.85 per share from revenues of $1.09B in the three-month period.

    Analysts expect Phreesia Inc. (NYSE:PHR) to report a net income (adjusted) of -$0.09 per share, when the bank releases its quarterly results shortly. Revenue for the fiscal quarter ended Oct 2020 is predicted to come in at $35.56M.

    Guidewire Software Inc. (GWRE), due to announce earnings after the market closes today, is expected to report earnings of -$0.05 per share from revenues of $164.62M recently concluded three-month period.

    Chewy (CHWY), a major online pet products retailer, will be released today. The company’s revenue is expected to grow 40% to $ 1.72 billion, and negative EPS will decrease to $ 0.14 from $ 0.20 a year earlier. During self-isolation, Americans began to actively have pets and spend money on products for caring for them. Over the past three quarters, Chewy shares have reacted negatively to the release of the financials, although the company’s results exceeded expectations. Then the quotes resumed a steady upward trend. A similar pattern could repeat itself.

  • Here’s Why Eastman Kodak Company (NYSE: KODK) Stock Dropping On Monday

    Here’s Why Eastman Kodak Company (NYSE: KODK) Stock Dropping On Monday

    Shares of Eastman Kodak Company (NYSE: KODK) went down 4.30% on Monday after an investor right firm has reminded KODAK investors of the important Tuesday deadline in Securities class action. The lawsuit has demanded the damages for KODAK investors under the federal securities law.

    As per the lawsuit, the defendants had made a series of false statements and failed to reveal material information regarding the business and operations of Eastman Kodak Company, which were known to the defendants or carelessly ignored by them.

    The lawsuit stated that the defendants have awarded the several insiders millions of dollars’ worth of stock options before the company has disclosed that it had got a $765 million loan from the U.S. International Development Finance Corporation to make drugs to treat COVID-19. This action of the defendant will obviously excite the stocks of Kodak once the deal would be announced.

    The lawsuit also claimed that the insiders who already have information regarding the loan from the U.S. International Development Finance Corporation have immediately bought tens of thousands of Kodak shares before the announcement at a price they knew would increase after the announcement of the loan will be public. Because of this, the defendant has made various false statements regarding the company’s business, and operations.

    Defendants artificially excited the stock price of the company throughout the Class Period and made investment decisions based on material, nonpublic information derived from their positions at Kodak. When the true details were revealed in the market, the lawsuit states that investors suffered huge damages.

    Shares of Eastman Kodak Company (NYSE: KODK) traded down 4.30% as it lost -0.43 on the trading session of Monday. It has a 52-weeks low range of $1.50 and a 52-weeks high range of 60.00. This company has traded up 538.67% from its 52-weeks low and moved down -84.03% from its 52-weeks high. Looking at its profitability its has a return on assets of -15.605%, return on equity of -377.70%, and return on investment of -63.30%. This company has a total market capitalization of $640.14 million at the time of writing.

  • Stocks to Watch as Markets Look Set for a Calm, Boring Day

    Stocks to Watch as Markets Look Set for a Calm, Boring Day

    The markets are calm this morning, but they are largely positive. Investors are awaiting news from the ongoing Federal Reserve policy meeting. Part of the calm stems from the fact that the markets are not expecting much of a change from the Fed’s earlier stance on its inflation policy. Earlier, the Federal Reserve chairman Jerome Powell had stated that the Fed was implementing a new policy that it’s calling Average Inflation Targeting. Through this policy, the Federal Reserve is ready to allow prices to rise above the 2% target for some time, and use this to compensate for when inflation has to run below the targeted levels for extended periods. Since there are no expectations of a change from this stance from the current meeting, it has not created any kind of volatility in the markets. Nonetheless, the momentum is largely positive at the moment. The markets are still riding on the increased possibility of a COVID -19 vaccine coming out before the end of the year.  This would help drive up the economy to match the momentum that has been experienced in the equity markets over the last 5 months during the pandemic. Despite the relative calmness in the markets, there are stocks that are gaining faster than the overall market. Some of the best-performing stocks today ahead of markets opening are as below:

    Tiziana Life Sciences PLC [TLSA]

    Tiziana Life Sciences PLC is a top gainer this morning and is up by over 10% and gaining. This follows the company’s announcement that following a strategic review, it was demerging its StemPrintER and SPARE genomics business into a different listed company, called Accustem. The company stated the move would allow Accustem to commercialize the StemPrintER technology with cash of about a million pounds. It’s a move that unlocks value for the company’s shareholders.

    Eastman Kodak [NYSE: KODK]

    Eastman Kodak is another top gainer this morning and is up by over 50%. This follows the company’s announcement that it was actively addressing allegations that it had mishandled the stock option grants for its CEO just before it announced the loan awarded by the U.S government. The company has stated that it had agreed to act on a report on this process, and that includes a reorganization of the board.

    Myomo Inc [NYSE: MYO]

    Myomo Inc is a top performer this morning and is up by over 40%. This follows the company’s announcement that it had been certified as a Medicare provider. This will enable the company to bill Medicare directly when delivering its services in Washington DC, and in 39 States.

     

  • Eastman Kodak [KODK] Leads the List of Stock Biggest Gainers Even as Market Sentiment Remains Sluggish

    Eastman Kodak [KODK] Leads the List of Stock Biggest Gainers Even as Market Sentiment Remains Sluggish

    The key stock indices are down this afternoon, continuing a trend that started earlier in the day. At the moment, the Dow is down by 0.23%, NASDAQ by 0.15, while the S&P is hovering between positive and negative territory. The lack of momentum is due to market uncertainty with regards to the second bailout that senate republican leader Mitch McConnell tabled.

    The bill would offer a major lifeline for an economy that has been battered by the COVID-19 pandemic. Mixed earnings from major corporations have also dampened the mood in the market. For context, Mcdonald’s missed earnings expectations while Pfizer recorded an increase in sales.  Other companies that have reported earnings today include Harley-Davidson, which became a loss-maker for the first time in a decade.

    Nonetheless, the market has some support from positive news with regards to progress on the COVID-19 vaccine.  Yesterday, Moderna announced that it was now in the late-stage testing for its COVID-19 vaccine candidate. Despite the mixed market sentiment, there are winners that have gained exponentially for the past few hours. Some of the day’s biggest winners are as below:

    Eastman Kodak Company [NYSE:KODK]

    Eastman Kodak Company is one of the top gainers this afternoon and is currently up by 224%. This follows news that the company has been given a $765 million loan to make drug ingredients, with the goal of helping reduce the country’s dependence on foreign supply chains. The U.S International Development Finance Corp said that it would sign a letter of intent with the company.  Commenting on the deal, White House trade advisor stated that this was the first in the U.S move towards establishing independence from international supply chains for pharmaceuticals. With the loan, Kodak will launch Kodak Pharmaceuticals, a company that will make key pharmaceutical components.

    Vocera Commmunications Inc [NYSE:VCRA]

    Vocera Communications Inc is another top gainer this afternoon and is up by 39%. The stock’s rally follows the release of strong Q2 results.  The company has reported that Q2 revenues stood at $47.3 million, beating analyst expectations of $40 million.  This represents an EPS of $0.10, higher than the net loss of an EPS of $0.06. The company noted that the strong results were due to a number of large strategic deals. The company also announced that it had deferred revenues of $127.5 million and had a full slate of software deployments.

    Mercurity Fintech Holding Inc [NASDAQ:MFH]

    Mercurity Fintech Holding Inc is another top gainer this afternoon and is currently up by 33%. The company’s strong performance is purely driven by speculative price action. The last time the company had major news was on July 10th when it announced that it was bolstering its board.