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Kodak shares rise after execs buy stock

Rochester Business Journal
May 18, 2011

Shares of Eastman Kodak Co. jumped more than 17 percent on news that CEO Antonio Perez and other top executives had purchased stock.

Kodak shares (NYSE: EK) were trading midday Wednesday up 55 cents to $3.67.

A Tuesday filing with the Securities and Exchange Commission shows that on May 13, Perez bought 26,667 shares of common stock priced at $3 a share. It is worth $203,000.

Richard Braddock, presiding director of Kodak's board, bought 69,000 shares at $2.87, for a value of $200,000.

Chief Financial Officer Antoinette McCorvey bought 9,865 shares worth nearly $36,000.

Shares of Kodak climbed last week after a judge ruled in the company’s favor in patent lawsuit brought by Apple Inc. The case was a countersuit brought by Apple.

That came after stocks plunged in late April when Kodak posted a net loss of $249 million, or 92 cents a share, in the first quarter, missing analysts’ earnings expectations.

(c) 2011 Rochester Business Journal. To obtain permission to reprint this article, call 585-546-8303 or e-mail service@rbj.net.


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