Kodak noninfringement of Apple patents upheld at ITC

Reuters notes: The International Trade Commission on 18 July 2011 upheld a decision by an administrative law judge that Eastman Kodak did not infringe Apple patents for digital cameras.

BUT, on Kodak from online wsj:

Shareholders are bailing out as well. Bill Miller, the Legg Mason Inc. fund manager who buys beaten-down stocks he thinks will rebound, sold off his holdings in Kodak in the six months ended April 30 after more than a decade of betting on a rebound.

The company's shares fell 8% to $2.52 in 4 p.m. composite trading Monday on the New York Stock Exchange, their lowest level in more than two years.

"The core business model didn't improve off of a cyclical bottom, and now the environment is even more challenging, and they have debt coming in 2013," said Ananda Baruah, an analyst with Brean Murray, Carret & Co. The market, he said, is asking, "Where's the cash going to come from?"

Kodak was a pioneer in amateur photography but got caught on the wrong side of the revolution in digital technology, which put high-quality cameras into virtually every advanced cellphone and replaced film with electronic memory.