Eastman Kodak, Sony Ericsson: Hot Trends
The 131-year-old photo film maker filed for Chapter 11 bankruptcy protection Thursday, saying it had more than 100,000 creditors, with debt reaching $6.75 billion.
Kodak said it has enough liquidity to continue to operate during the bankruptcy process. It received a $950 million, 18-month credit facility from Citigroup to stay in business.
While it is under bankruptcy protection, the company will look to sell patents and business lines, as well as seeking litigation for intellectual property infringement claims in effort to raise capital.
Sony Ericsson is also trending as the company posted a fourth-quarter loss that missed all forecasts due to lower sales and restructuring costs. The company posted a loss of €207 million ($265 million), compared to a profit of €8 million in the same period a year ago. The company attributed the results to intense competition, unfavorable macroeconomic conditions and the impacts from a natural disaster in Thailand. Sony Ericsson shipped 9 million units in the fourth quarter, a 20% drop from a year before. In October, Sony (SNE) and Ericsson (ERIC) announced that Sony is taking control of the company. Ericsson is to sell its 50% stake in the company to Sony for €1.05 billion. The deal is expected to close in the first quarter.
Facebook is another popular search as it is expanding its feature that enables users to share their online activity on the social network. Users may be familiar with seeing friends post what songs they're listening to on Spotify or what article they just read, but now Facebook is adding more than 60 partners to expand what users can tell their friends they're up to. The company is working with Ticketmaster, Rotten Tomatoes, Pinterest and other applications to let Facebook users who are visiting those sites share the details on the social network. Users' activities can be seen on Facebook's Ticker, News Feed and Timeline.
The chatter on Main Street (a.k.a. Google, Yahoo! and other search sites) is always of interest to investors on Wall Street. Thus, each day, TheStreet compiles the stories that are trending on the Web, and highlights the news that could make stocks move. -- Written by Brittany Umar.
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