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Federal agency finds no wrongdoing in Kodak loanFederal agency finds no wrongdoing in Kodak loan The inspector general for the U.S. International Development Finance Corp (DFC), which was administering the loan, told Democratic lawmakers he found no evidence that agency officials had any conflicts of interest in the plans, the report said. It is unclear whether the agency will now move forward with the loan. Shares of the once iconic photography company surged in September when an earlier review by law firm Akin Gump, also cleared company executives of wrongdoing. finance.yahoo.com
NYSE:KODK
by AlenCiken
KODK LONG "company finds no laws broken with loan announcement"Kodak's stock rockets on heavy volume after committee hired by company finds no laws broken with loan announcement Shares of Eastman Kodak Co. KODK, 51.36% rocketed 51.9% on very heavy volume in premarket trading Wednesday, after a special committee hired by the digital imaging and printing systems company to investigate how it disclosed a U.S. government loan found that no laws were broken. Trading volume topped 16.9 million shares, making the stock the most actively traded ahead of the open, and compared with the full-day average of 21.4 million shares. The committee found several governance concerns at Kodak surrounding how the news of the $765 million government loan was announced, but nothing illegal. The Wall Street Journal reported. The stock had soared 1,481% in three days after news broke that it received a $765 million government loan to help make drugs at U.S. factories, but the WSJ reported that the Securities and Exchange Commission launched an investigation as the stock started rallying before Kodak announced the news. Kodak's stock has climbed 34.0% year to date through Tuesday, while the S&P 500 SPX, 0.12% has gained 5.3%. TITLE/(DATE)- KODK stock ASSET- STOCK PLATFORM-Robinhood ORDER TYPE- BUY Time Frame-1hr ENTRY PRICE 1- $9.00 (market) ENTRY 2- $5.00 (pending) STOP LOSS- $2.00 TAKE PROFIT 1-$14.00 TAKE PROFIT 2- $18.00 TAKE PROFIT 3- $24.00 TAKE PROFIT 4- $30.00 TAKE PROFIT 5- $34.00 TAKE PROFIT 6- $40.00 STATUS: Active BRIEF-DFC To Provide $765 Mln Loan To Eastman Kodak Co To Support Launch Of Kodak Pharmaceuticals July 28 (Reuters) - U.S. International Development Finance Corporation: * U.S. INTERNATIONAL DEVELOPMENT FINANCE CORPORATION - TO PROVIDE $765 MILLION LOAN TO EASTMAN KODAK CO TO SUPPORT LAUNCH OF KODAK PHARMACEUTICALS * DFC - KODAK PHARMA TO MAKE CRITICAL PHARMACEUTICAL COMPONENTS IDENTIFIED AS ESSENTIAL BUT HAVE LAPSED INTO CHRONIC NATIONAL SHORTAGE, AS DEFINED BY FDA * DFC - DFC’S LOAN TO ACCELERATE KODAK’S TIME TO MARKET BY SUPPORTING COSTS NEEDED TO REPURPOSE & EXPAND EXISTING FACILITIES IN NEW YORK & MINNESOTA Sector: Electronic Technology Industry: Electronic Equipment/Instruments Employees: 4922 Eastman Kodak Co . engages in the provision of analog and digital innovations. It operates through the following segments: Print Systems; Enterprise Inkjet Systems; Kodak Software; Brand, Film and Imaging; Advanced Materials and 3D Printing Technology; Eastman Business Park, and All Other. The Print Systems segment comprises of prepress and electrophotographic printing Solutions. The Enterprise Inkjet Systems segment includes prosper and Versamark business. The Brand, Film and Imaging segment involves includes industrial film and chemicals, motion picture, and consumer products. The Advanced Materials and 3D Printing Technology segment offers kodak research laboratories and associated business opportunities and intellectual property licensing. The Eastman Business Park segment includes the operations of the Eastman Business Park, an acre technology center and industrial complex. The All other segment composes RED utilities variable interest entity. The company was founded by George Eastman in 1880 and is headquartered in Rochester, NY.
NYSE:KODKLong
by MavRich_Trading