Eastman Kodak Company (PINK:EKDKQ) shares more than doubled in the past week and closed at $0.555. Late Friday, the company announced second-quarter earnings which was another bad quarter for the company as it has been struggling to survive in the business changing environment due to change in consumer preferences. The company posted net loss of $299 million, or $1.10 per share, more than a year ago loss of $179 million, or 67 cents a share as the company’s revenue slid and reorganization continued to weigh. Quarterly revenue came in at $1.08 billion, down 27% year over year. Earlier this year in January, the company filed for Chapter 11 protection from creditors. Coming weeks are going to be critical for the company’s investors as Kodak is all set to auction its patents on August 8, which is expected to end by August 13.
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ON Semiconductor Corp.(NASDAQ:ONNN) had another bas week as the stock continued to tumble with a weekly loss stood at over 10%. On Thursday, the company announced the resignation of Chief Financial Officer Donald Colvin, due after 90 days. In the meantime the company will work on hiring new CFO. Shares of the company have lost over 17% so far this year and made a new 52-week low of $6.20 in mid July.
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ARMOUR Residential REIT, Inc.(NYSE:ARR) fell about 3% on Friday after the company announced today that it has priced an underwritten public offering of 55,000,000 shares of common stock. ARMOUR has granted the underwriters a 30-day option to purchase up to 8,250,000 additional shares of common stock. Shares of the company have jumped over 6% so far this year.
Advanced Cell Technology, Inc.(OTC:ACTC) had an interesting week as the company closed higher by 9% for the week on heavy volume throughout the week. The stock has been showing solid strength since early July and has gained over 44% in the past one month. The company is scheduled to report its second quarter financial results on August 8th, after the market closes.
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