(EK) Eastman Kodak Plans Sale of Health-Imaging Business
From the article:
Created a year after the discovery of X-ray film in 1895, the unit accounts for nearly one-fifth of Kodak's overall sales but its operating profit plunged 21 percent last year as margins tightened. A sale would wipe out most or all of Kodak's $2.6 billion in debt, analysts noted."
"...Shannon Cross of Cross Research in Short Hills, N.J, the business might fetch $1.5 billion to $2 billion"
"...Buckman, Buckman & Reid in New York who thinks the unit "can bring at least $4 billion.""
"...Kodak lost the equivalent of $1.04 a share in the January-March quarter"
Not a pretty picture, but it could be an opportunity. Legendary Bill Miller is banking on the stock making a recovery. For those who don't know, Bill Miller he has beaten the S&P 500 for 15 years straight. His picks include Dell and AOL (back when it was going up).
Some general background on the Eastman Kodak situation.
Created a year after the discovery of X-ray film in 1895, the unit accounts for nearly one-fifth of Kodak's overall sales but its operating profit plunged 21 percent last year as margins tightened. A sale would wipe out most or all of Kodak's $2.6 billion in debt, analysts noted."
"...Shannon Cross of Cross Research in Short Hills, N.J, the business might fetch $1.5 billion to $2 billion"
"...Buckman, Buckman & Reid in New York who thinks the unit "can bring at least $4 billion.""
"...Kodak lost the equivalent of $1.04 a share in the January-March quarter"
Not a pretty picture, but it could be an opportunity. Legendary Bill Miller is banking on the stock making a recovery. For those who don't know, Bill Miller he has beaten the S&P 500 for 15 years straight. His picks include Dell and AOL (back when it was going up).
Some general background on the Eastman Kodak situation.
posted by spinoff at
4:48 PM
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