Shares of Eastman Kodak Co. (NYSE: EK) soared more than 12% Wednesday, a day after CEO Antonio Perez disclosed the purchase of 26,667 shareson 5/13 at $3.00. In addition, SVP Antoinette McCorvey bought 9,865 shares on the same day, at the same price.
Clearwire Corp (NASDAQ: CLWR) surged more than 5% after company announced that it has chosen Ericsson to take over management of its high-speed wireless network to help it cut costs. The seven-year agreement is similar to an arrangement which Clearwire's majority owner Sprint Nextel (S.N) has with Ericsson, causing some analysts to suggest that it might lead to a closer tie between Sprint and Clearwire.Under the deal, Clearwire said it will transfer 700 of its 3,600 employees to Ericsson, but will continue to own the network.
Research In Motion (NASDAQ: RIMM) rallied more than 3% after Bernstein Research upgraded the company to market-perform from underperform. Bernstein analyst Pierre Ferragu said he himself is very skeptical on the demand and sustainability of BlackBerry, but noted, with smartphone demand increasing daily, a collapse in BlackBerry shipments is very unlikely.
MGM Resorts International (NYSE: MGM) jumped more than 3% after the company announced the reopening of Gold Strike Casino Resort Tunica- just two weeks after rising Mississippi River floodwaters forced a mandatory closure of all Tunica County's nine casinos.
Shares of CBS Corp. (NYSE: CBS) rose more than 3% after the company announced its primetime schedule for the 2011-2012 season. CBS will add three dramas and two sitcoms to its prime-time schedule in the fall, and will move several of its established franchises to new time slots.
Full Disclosure: None.
