EK has rescinded its second-half and full-year 2008 revenue growth, earnings and cash flow estimates, and will not give any other projections until the company reports its earnings in the end of January 2009.
Kodak's stock price declined during the week of July 23rd to 27th due to a general fall in stock prices across the board. Concerns about the housing market and its impact on the larger economy put downward pressure on stocks throughout the U.S. and abroad.
On May 23, Kodak announced that it was going to license its OLED technology (full-color small display screens) to be used on mobile displays. This moves stock price from $25.41 USD to $29.19 about three weeks later.
Kodak released 1st Quarter losses which dropped stock price from $24.72 USD to $24.06 USD.
In an effort to cut costs, Kodak announced increased job cuts to a total of 28,000 - 30,000. This sent stock share from $26.00 USD to $22.60 about five weeks later.