Eastman-Kodak shares plunging on another bad quarter

By Palash Ghosh | January 26 2011 1:26 PM

Shares of Eastman Kodak (NYSE: EK) are plunging after the imaging company’s fourth quarter earnings fell below analysts’ estimates.

Reuters

Shares of Eastman Kodak Co. have jumped in value amidst speculation that following its acquisition of Motorola Mobility Google may be eying-up the camera maker's patent portfolio as its next target.

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As of 12:20 p.m., Kodak shares are down 17.04 percent.

Kodak posted an adjusted loss of 37 cents per share, versus consensus analyst expectations of 5 cents of profit.

Having posted two consecutive quarters of losses, Kodak stock is down about 30 percent year-to-date.

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