BMC Maintains Hold on Eastman Kodak (EK)

BMC is out with its report today on Eastman Kodak EK, maintaining Hold. In a note to clients, BMC writes, "Both Mar Q revenue and EPS of $1.32B and ($1.13) were below Street estimates of $1.38 and ($0.58). Kodak didn't generate any IP income in the Mar Q and GM of 10.5% missed by a wide margin which highlights the weakness of EK''s underlying businesses. Management continues to focus on the strategy to drive revenue from the four digital growth initiatives (consumer, commercial inkjet, workflow software and packaging). Furthermore, Kodak provided its strategy to shift away its camera business from less profitable regions and markets." Shares of EK closed Thursday at $2.85, down 10.09% from Wednesday's close.