Eastman Kodak (EK) may sell Kodak Gallery, its online photo-sharing business, in a continued effort to avert a cash shortfall and potential bankruptcy. The Wall Street Journal reported that private-equity firms and retailers are looking to buy the Kodak business, which currently stores digital photos that can be printed into memorabilia like cards and calendars using Kodak's printing technologies for a fee. The sale could net "hundreds of millions of dollars," anonymous sources told the newspaper. Shares were jumping 5.9% to $1.26.
UBS (UBS), the Swiss bank, said it will downsize several businesses, slash up to 2,000 jobs and focus on wealth management as part of an overhaul of its investment banking strategy. UBS said Thursday it will attempt to transform itself into an organization that is focused, less complex and less capital-intensive. Shares were gaining 3.8% to $11.63.
Computer maker Hewlett-Packard (HPQ - Get Report) appointed activist shareholder Ralph Whitworth, co-founder of the Relational Investors fund, to its board after he acquired an almost 1% stake in the company. Shares were adding 3% to $28.10.
Boeing (BA - Get Report) has won a $21.7 billion commercial-jet order from Indonesia's Lion Air -- its biggest-ever commercial-jet order. Shares were gaining 2.9% to $68.
Heinz (HNZ), the ketchup maker, reported second-quarter sales of $2.83 billion, below the average analyst estimate of $2.91 billion. Adjusted earnings came in at 81 cents a share, beating the average analyst estimate by a penny. Shares were down 0.6% to $52.50.
Nike (NKE - Get Report), the athletic shoe and apparel maker, raised its dividend to 36 cents a share from 31 cents. The dividend is payable Jan. 3 to shareholders of record on Dec. 5. Shares were flat at $91.90.
Gap's (GPS - Get Report) third-quarter profit fell 36% as revenue fell 1.8% to $3.58 billion. Gap earned $193 million, or 38 cents a share, down from $303 million, or 48 cents, a year earlier. Analysts were expecting earnings of 36 cents a share on revenue of $3.59 billion.
Internet security firm Blue Coat Systems (BCSI) provided third-quarter guidance of 19 cents a share to 26 cents a share, compared with the average analyst estimate of 15 cents.
Wireless networks company Aruba Networks (ARUN) reported first-quarter revenue of $119.4 million, beating the average analyst estimate of $117.5 million. Earnings of 14 cents a share were in line with estimates. The company also said it has agreed to buy privately held network security solutions company Avenda Systems. -- Written by Joseph Woelfel and Andrea Tse >To contact the writer of this article, click here: Joseph Woelfel >To submit a news tip, send an email to: firstname.lastname@example.org.