NEW YORK ( TheStreet) -- Shares of Eastman Kodak ( EK) leapt in late trades on Thursday after the company agreed to divest its Eastman Gelatine business and named Laura Quatela president.

Eastman Kodak is selling the business, which has roughly 95 employees and makes gelatin used in photographic movie film and paper emulsions, to Rousselot, which is part of the Vion Food Group. Financial terms weren't disclosed.

Kodak said Quatela, who most recently served as general counsel, will serve as president alongside current president Philip Faraci, and that both will report to CEO Antonio Perez.

The stock was last quoted at 77 cents, up 22%, on volume of more than 400,000, according to Nasdaq.com.

Momenta Pharmaceuticals

Shares of Momenta Pharmaceuticals ( MNTA) surged in the extended session after the company inked a deal to collaborate with Baxter International ( BAX) on the development of follow-on biologics.

The deal calls for Baxter to make an upfront cash payment of $33 million to Momenta covering the initial collaboration on up to six follow-on biologic compounds. Momenta could receive additional payments based upon the development of the compounds and milestones reached. The parties expect to close the deal in the first quarter.

Momenta shares were last quoted at $18.10, up 6.4%, on volume of nearly 50,000, according to Nasdaq.com. Based on Thursday's regular-session close at $17.02, the stock was up more than 9% in the past year.

Rambus

A patent licensing agreement with Broadcom ( BRCM) sent shares of Rambus ( RMBS) higher in the after-hours session.

The five-year deal covers the use of Rambus-patented technology in Broadcom chips, and resolves litigation between the two parties. Financial terms weren't disclosed.

Rambus shares leapt nearly 8% to $7.89 in late trades on volume of 65,000, while Broadcom's stock was unchanged at $29.77.

-- Written by Michael Baron in New York.

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