eastman kodak

Eastman Kodak, the 131-year-old film pioneer that has been struggling for years to adapt to an increasingly digital world, ran short of cash before a turnaround effort could succeed.

Metabolix (Nasdaq: MBLX) 55.6% LOWER; announces termination of Telles JV. Click here to see the full report.

Georgia Gulf (NYSE: GGC) 34.8% HIGHER; Westlake (NYSE: WLK) offers to acquire Georgia Gulf for $30/share.

Best Penny Stocks to Watch.

Many of you have written to us wondering what our take is on Eastman Kodak , which has now become a penny stock .

Some of you pointed out that management bought thousands of shares at $0.65 not long ago and that the company might be successful in selling patents from its portfolio which might save it.

Hey! And the stock is cheap. What if EK was to come roaring back and make everyone loads of money? Talk about hot penny stocks.

Eastman Kodak Company (NYSE: EK) 17.6% HIGHER; has agreed to sell its Eastman Gelatine Corporation business to Rousselot, part of the Vion Food Group.

Financial details were not disclosed. Subject to customary closing conditions, the transaction is expected to close within 30 days.

China Direct Industries, Inc. (Nasdaq: CDII) 17% HIGHER; reports FY11 EPS of $0.26, versus ($0.11) reported for the same period a year ago.

Revenue for the quarter was $187.8 million, compared to $112.7 million in FY10. Rambus Inc.

Eastman Kodak Co. has reportedly shuffled its restructuring advisers in its battle to shore up its finances and steer clear of bankruptcy.

Eastman Kodak appears to be staying clear of bankruptcy proceedings for now, but time is clearly running out for the 130-year old industrial icon to reinvent itself for a digital century.

Below are stocks making meaningful moves in pre-open trading Monday: HIGHER: Eastman Kodak Co. (NYSE: EK) 36% HIGHER; bounces after denying bankruptcy speculation PPD (Nasdaq: PPDI) 30% HIGHER; Acquired by Carlye XOMA (Nasdaq: XOMA) 5% HIGHER; $28M contract ClickSoftware (Nasdaq: CKSW) 4% HIGHER; ups guidance Wolverine World Wide Inc.

(NYSE: WWW) 4% HIGHER; upgraded Yahoo! Inc. (Nasdaq: YHOO) 4% HIGHER; Alibaba's CEO Jack Ma CEO said he's looking at a possible acquisition S1 Corporation (Nasdaq: SONE) 2% HIGHER; acquired for $9.55/sh Netflix, Inc.

MELA Sciences (Nasdaq: MELA) 56.3% HIGHER; reports the U.S. Food and Drug Administration (FDA) has issued an Approvable Letter for the MelaFind Pre-Market Approval (PMA) application.

Eastman Kodak Co.

Below are stocks making major moves in pre-open trading Tuesday: HIGHER: SunPower Corp. (Nasdaq: SPWRB) 5% HIGHER; to reclassify under a single class of stock Walter Energy, Inc.

(NYSE: WLT) 3% HIGHER; continued takeover speculation after new CEO Intersil Corporation (Nasdaq: ISIL) 2% HIGHER; up despite lower guidance Eastman Kodak (NYSE: EK) 2% HIGHER; continue run-up after surging into the close Monday Best Buy (NYSE: BBY) 2% HIGHER; Q2 results, guidance SodaStream International Ltd.

Gentium (Nasdaq: GENT) 26% LOWER; withdraws NDA for defibrotide. The FDA has requested added reviews of the drug.

NetApp, Inc. (NASDAQ: NTAP) 11.5% LOWER; reported Q1 EPS of $0.55, in-line with the analyst estimate of $0.55.

Revenue for the quarter came in at $1.46 million versus the consensus estimate of $1.51 billion. Sees Q2 2012 EPS of $0.58-$0.62, versus the consensus of $0.60.

Sees Q2 2012 revenue of $1.5-$1.6 billion, versus the consensus of $1.62 billion.