Eastman Kodak’s New Business: Suing for Dollars

Eastman Kodak Co. (NYSE:EK) said it is suing Apple Inc. (NASDAQ:AAPL) and HTC Corp. According to EK infringement of certain patents related to digital imaging technology was made. Kodak claims Apple’s iPhones, iPads, and iPods, and some of HTC’s smartphones and tablets use Kodak patents for transmitting images, and therefore EK is seeking to prevent further patent infringement from Apple and HTC. It will seek compensation as well.

The news comes after Eastman explained restructuring plans earlier. The new plan involves cutting the number of segments at the firm from 3 to 2 and create a Chief Operating Officer to help accelerate it into a digital company.

Here’s how these stocks closed the trading session:

Eastman Kodak Co. (NYSE:EK): EK shares recently traded at $0.60, up $0.2, or 50%. They have traded in a 52-week range of $0.36 to $5.70. Volume today was 67,622,698 shares versus a 3-month average volume of 9,269,030 shares. The company’s trailing earnings are $-4.62 per share.

Apple Inc. (NASDAQ:AAPL): AAPL shares recently traded at $423.24, up $1.51, or 0.36%. They have traded in a 52-week range of $310.50 to $427.75. Volume today was 9,155,851 shares versus a 3-month average volume of 14,694,300 shares. The company’s trailing P/E is 15.29, while trailing earnings are $27.68 per share.

To contact the reporter on this story: Tanya Harding at staff.writers@wallstcheatsheet.com

To contact the editor responsible for this story: Damien Hoffman at editors@wallstcheatsheet.com