Analysts Underestimate Kodak; Stock Soars
Eastman Kodak stock surged Thursday after the company hinted at a rosy 2010 scenario and presented fourth quarter earnings that far exceeded analysts’ expectations.
“We enter the new year with the most competitive digital portfolio ever, strong presence in key markets, and a significant amount of positive momentum,” Eastman Kodak’s chief executive Antonio Perez said in a statement. “All of this positions us well for improved performance in 2010.”
Eastman Kodak stock has surged 17.7% to $5.60. The three-month average daily volume for Eastman Kodak is about 6.2 million, according to Yahoo! Finance. About 40.3 million shares traded hands today.
Kodak says that it continues to gain strong traction in consumer inkjet, commercial inkjet, enterprise software and digital plates.