Sign in Subscribe
Telecommunications systems

Stocks Rise and Fall as Kodak Names New CFO and Unisys Shares Plummet

Strategic Insights

— 2 min read

Robert Brust, who helped Unisys achieve rising profit and a nearly fivefold increase in its stock price, was named the chief financial officer of Eastman Kodak, leading to a significant spike in Kodak's stock price. Meanwhile, Unisys shares dropped significantly after the announcement. Other notable stock movements included Lucent Technologies losing value due to investors overreacting to backlog numbers and 3Com's stock falling as the company announced profit would miss forecasts due to Year 2000 concerns.

Key Takeaways:

  • Eastman Kodak's stock price jumped $4.68 3/4 to $62.06 1/4 after naming Robert Brust as its new CFO.
  • Unisys shares dropped $1.43 3/4 to $30.93 3/4 after the announcement of Brust's departure to Kodak.
  • Lucent Technologies lost $3.62 1/2 to $76.37 1/2 as investors reacted too strongly to backlog numbers.
  • Oracle's stock price gained $7.37 1/2 to $105.06 1/4 as the company negotiated with Boeing to create an online parts supply network.
  • Boeing added 68 3/4 cents to $39.37 1/2 as a result of the potential partnership with Oracle.
  • Microsoft reached a 52-week high, closing at $117.56 1/4, up $1.68 3/4.
  • 3Com dropped $4.68 3/4 to $48.43 3/4 as the company announced its profit would miss forecasts due to Year 2000 concerns.
  • Corel tumbled $5.37 1/2 to $13.18 3/4 after warning of a fourth-quarter earnings and revenue shortfall.
  • Cablevision Systems rose $1.68 3/4 to $77.25 after confirming the creation of a tracking stock for its programming and entertainment assets.

Statistics:

  • Eastman Kodak's stock price increased by 4.68 3/4 to $62.06 1/4.
  • Unisys shares dropped by $1.43 3/4 to $30.93 3/4.
  • Lucent Technologies lost $3.62 1/2 to $76.37 1/2.
  • Oracle's stock price gained $7.37 1/2 to $105.06 1/4.
  • Boeing added 68 3/4 cents to $39.37 1/2.
  • Microsoft reached a 52-week high, closing at $117.56 1/4, up $1.68 3/4.
  • 3Com dropped $4.68 3/4 to $48.43 3/4.
  • Corel tumbled $5.37 1/2 to $13.18 3/4.
  • Cablevision Systems rose $1.68 3/4 to $77.25.

Sources:

  • "Shares of Eastman Kodak (ticker symbol EK) jumped $4.68 3/4 to $62.06 1/4 Wednesday after the world's biggest photography company named Robert Brust chief financial officer."
  • "Unisys shares dropped $1.43 3/4 to $30.93 3/4."
  • "Lucent Technologies (LU) lost $3.62 1/2 to $76.37 1/2."
  • "Oracle (ORCL) gained $7.37 1/2 to $105.06 1/4."
  • "Boeing (BA) tacked on 68 3/4 cents to $39.37 1/2."
  • "Microsoft (MSFT) hit yet another 52-week high, touching $118 before closing at $117.56 1/4, up $1.68 3/4."
  • "3Com (COMS) dropped $4.68 3/4 to $48.43 3/4."
  • "Corel (CORL) tumbled $5.37 1/2 to $13.18 3/4."
  • "Cablevision Systems (CVC) rose $1.68 3/4 to $77.25."

Read more