1. Kodak said on Friday that no bankruptcy filing was imminent, but it did say that it had hired the law firm Jones Day, which has a prominent restructuring practice, to provide advice.
2. The news of the hiring, just a week after Kodak unexpectedly tapped its credit line, heightened worries about the viability of the company’s turnaround plan. With investors again rattled, Kodak’s stock price plunged 54 percent on Friday. (article for : Eastman Kodak News )
3. The chief hope for Kodak, which has reported only one full year of profit since 2004, has been its planned sale of 1,100 digital imaging patents, which the company said accounted for about 10 percent of its total patent portfolio.
Eastman Kodak News
4. Kodak became famous for its yellow packages, and its film at one time dominated the market. But the company has struggled to reinvent itself for decades, as digital technology has replaced film.
5. As recently as July, Mr. Perez predicted that Kodak would be a profitable and sustainable digital company by 2012. But the surprise announcement last week that Kodak had tapped its credit line for $160 million shook investor confidence in Mr. Perez’s turnaround effort. ( Eastman Kodak News )
So it's all about fundamental of the Company, It's not Technical correction... for who still keep the share what should they do? dont be panic , then ....
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