The stock was last quoted at $4.80, down 8.1%, on volume of roughly 150,000, according to Nasdaq.com. Based on a regular session close at $5.22, the shares are up almost 16% in the past 52 weeks. "The ALJ's recommendation represents a preliminary step in a process that we are extremely confident will conclude in Kodak's favor," said Laura Quatela, Kodak's general counsel, said in a press release, adding later: "We fully expect the ITC Commission will ultimately rule that the patent claim at issue is valid and infringed by Apple and RIM." Kodak filed its claim against Apple and Research in Motion a little more than a year ago, and the company notes it has licensed the patent at issue to numerous technology companies, including Motorola, Nokia and Samsung.
CSX Corp.Revenue growth of more than 20% carried CSX Corp. ( CSX) to a better than expected profit in the fourth quarter, sending the stock up more than 2% to $69.15 on volume of more than 400,000 in after-hours action. The Jacksonville, Fla.-based railroad operator said it earned $430 million, or $1.14 a share, on revenue of $2.82 billion for the three months ended Dec. 31, 4 cents ahead of the average estimate of analysts polled by Thomson Reuters for a profit of $1.10 a share on revenue of $2.67 billion. CSX shares have jumped 53.3% in the past 52 weeks, and Wall Street remains mostly bullish with 23 of the 32 analysts covering the company at either strong buy (10) or buy (13). The median 12-month price target of $75 implies potential upside of almost 11% from Monday's regular session close at $67.71.
Texas InstrumentsShares of Texas Instruments ( TXN) were down almost 3% to $33.75 on volume of around 570,000 after the chip maker reported its fourth-quarter results. The company came in a penny ahead of Wall Street's profit view for the December period but its outlook offered some downside to current analyst expectations and orders fell on a sequential basis for a second straight quarter.
Texas Instruments reported earnings of $942 million, or 78 cents a share, for the three months ended Dec. 31. Those results included a gain of 14 cents a share related to an asset sale and a tax benefit. Backing out the gain, the company earned 64 cents a share in the latest quarter, edging the average analysts' view. Revenue came in at $3.53 billion for the December period, up 17% from the year-ago equivalent total of $3.01 billion, and incrementally ahead of the consensus estimate. On Dec. 7, the company tightened its outlook for the fourth quarter, forecasting earnings of 61 to 65 cents a share on revenue of $3.43 billion to $3.57 billion. Orders stood at $3.13 billion at quarter's end, down 4% from last year and off 9% on a sequential basis.