Kodak's announcement today is evidence that sentimentality is dead in 21st century business.

The film world has, after all, been moping since Polaroid stopped producing its iconic instant camera film in early 2008 (take heart, Polaroid fans, "The Impossible Project" is working to reinvent instant film in an old Polaroid factory in the Netherlands). But today Eastman Kodak (NYSE: EK) said it was halting production of the complex-yet-storied Kodachrome film, immediately. Not only does the product make up less than 1% of its worldwide still-picture film sales; it's extraordinarily expensive to produce.

Continue reading Kodak pulls Kodachrome in a blow to sentimentality

Kodak pulls Kodachrome in a blow to sentimentality originally appeared on BloggingStocks on Mon, 22 Jun 2009 17:20:00 EST. Please see our terms for use of feeds.

First off, both are great companies. No, not every move they make is perfect (example: Marvel still can't properly monetize its Incredible Hulk property with a decent film). But both stocks have held up relatively well, in my opinion, during the financial implosion. Both stocks are also below their respective 52-week high's and above their respective 52-week low's. That's not a bad position to be in (although I should point out that I generally would like to get these two around their 52-week low's). But which stock has the edge?

Well, Marvel's shares have been strong lately. According to the AOL quote at the time of this writing, Marvel is in the green in all time frames (year-to-date, one-month, one-year, etc.). DreamWorks Animation is in the red in a couple spots, but for the most part, it's been performing somewhat similarly to Marvel. I don't really see that much of a difference in terms of strength. Plus, both are arguably essentially equal in terms of valuation (at least in my opinion).

Continue reading DreamWorks Animation versus Marvel Entertainment: Which one is a buy?

DreamWorks Animation versus Marvel Entertainment: Which one is a buy? originally appeared on BloggingStocks on Wed, 07 Jan 2009 12:14:00 EST. Please see our terms for use of feeds.

Lions Gate Entertainment (NYSE: LGF), whose bigger colleagues include Disney (NYSE: DIS), General Electric's (NYSE: GE) Universal, Time Warner (NYSE: TWX), Viacom (NYSE: VIA), and Sony (NYSE: SNE), publicized its Q2 earnings after the bell on Monday. There was good news and bad news.

The good news was that the company narrowed its loss compared to last year's results. Lions Gate booked a net loss of $0.41 per share this year versus a net loss of $0.49 per share in the year-ago period. The bad news, however, is that the results did not meet expectations. I mean, they really didn't meet expectations, as the call was for a loss of $0.15 per share. That's just how the movie business goes sometimes.

However, let's look at the cash flow, because we can find some comfort there. Operational cash flow for the quarter was positive this year instead of being negative, and free cash flow, which is the ultimate goal of any business, increased over three times to nearly $74 million.

And I'll steer you to another positive statistic -- filmed entertainment backlog increased to what management is calling a record $456.5 million. I know, I also tend to dismiss terms like "record" when I see them in a press release, but at least in this case it refers to revenues that will ultimately be recognized down the line.

Continue reading Lions Gate misses in Q2, but is the stock a trade?

Lions Gate misses in Q2, but is the stock a trade? originally appeared on BloggingStocks on Tue, 11 Nov 2008 10:54:00 EST. Please see our terms for use of feeds.

Icahn doubles up on Lions Gate Entertainment originally appeared on BloggingStocks on Wed, 22 Oct 2008 11:25:00 EST. Please see our terms for use of feeds.

In this series, we take a look at the 25 stocks on the S&P 500 Index (SPX) that have turned in the worst performance during the past decade -- what went wrong, and what happens next.

Be honest -- when was the last time you dropped off a roll of film to be developed? If your response dates back to the 1990s, the unpleasant fate of Eastman Kodak Company (NYSE: EK) probably doesn't need too much explaining. The way we take pictures and use paper has shifted drastically in the past decade, and Eastman has struggled in its attempts to keep up (with more "struggling" than "keeping up" involved, nearly every step of the way).

What went wrong? At No. 11 on our list of SPX dawdlers, EK shed 80% of its value during from June 30, 1998 through June 30, 2008. The stock tapped an all-time high near $95 in early 1997; during the decade in question, the shares peaked at $88.94 in July 1998. It was to be the first in a long series of lower highs for EK as it cascaded down the charts.

Eastman Kodak entered 1998 with an aggressive turnaround plan. The elimination of 20% of EK's payroll was meant to help stem the tide of diminishing profits and market share for the one-time leviathan of photography; the company was floundering in the face of heightened competition from the likes of Fuji. EK also unloaded a chain of retail stores and non-core businesses, but a gradual increase in profits couldn't mask disappointing sales growth.

Continue reading Worst 10-year performers: Eastman Kodak battles the digital era

Worst 10-year performers: Eastman Kodak battles the digital era originally appeared on BloggingStocks on Tue, 29 Jul 2008 17:31:00 EST. Please see our terms for use of feeds.

Viacom Inc

Continue reading Will 'The Love Guru' and 'Get Smart' avoid box office disaster?

Will 'The Love Guru' and 'Get Smart' avoid box office disaster? originally appeared on BloggingStocks on Fri, 20 Jun 2008 16:12:00 EST. Please see our terms for use of feeds.

5/2 - Iron Man, Viacom (NYSE: VIA)'s Paramount Pictures

Continue reading 'Iron Man' vs. 'Indy': Preview of potential summer blockbusters

'Iron Man' vs. 'Indy': Preview of potential summer blockbusters originally appeared on BloggingStocks on Sat, 03 May 2008 19:30:00 EST. Please see our terms for use of feeds.

This post is part of our Battle of the Brands feature. Let us know which brand you prefer, and check out other Battle of the Brands posts.

Rochester, New York-based Eastman Kodak Co. (NYSE: EK) was founded in 1892, and is well known for its wide range of photographic film products; it remains to this day the largest supplier of photographic films in the world. The company played a vital role in the invention and development of the motion picture industry, setting the standard of 35 mm film.

But times change. In 1999, Kodak entered into the consumer inkjet photo printers market in a joint venture with manufacturer Lexmark (NYSE: LXK). In 2004, Kodak announced it would stop producing traditional film cameras, beginning a multiyear struggle to refocus on digital photography and printing. Some of the results of that effort include the Kodak Smart Picture Frame, into which digital files are downloadable via a network connection. The Kodak Gallery is a website where users can upload photos into albums, print them out, and create mouse pads, calendars, and the like. And in 2006 Kodak announced that Flextronics (NASDAQ: FLEX) would manufacture and help design its digital cameras. Kodak also has long-term plans to sell ink jet printers and flat-panel displays.

Continue reading Battle of the Brands: Canon vs. Kodak

Battle of the Brands: Canon vs. Kodak originally appeared on BloggingStocks on Tue, 29 Apr 2008 19:00:00 EST. Please see our terms for use of feeds.

Walt Disney Co

Oscar TV ratings hit record low originally appeared on BloggingStocks on Mon, 25 Feb 2008 15:33:00 EST. Please see our terms for use of feeds.

Continue reading Nicolas Cage helps give Disney a holiday present

Nicolas Cage helps give Disney a holiday present originally appeared on BloggingStocks on Mon, 24 Dec 2007 16:56:00 EST. Please see our terms for use of feeds.

Continue reading Time Warner (TWX) earnings meet expectations

Time Warner (TWX) earnings meet expectations originally appeared on BloggingStocks on Wed, 07 Nov 2007 08:53:00 EST. Please see our terms for use of feeds.

NBC Universal Chief Executive Jeff Zucker made it clear at a conference yesterday that GE (NYSE: GE) had no interest in selling the media business. Referring to GE CEO Jeff Immelt, Zucker said, "He has said numerous times that NBCU is not for sale. It is not for sale after the Olympics." Some press reports have indicated that GE would take the big money from the sports event and then dump the business on some sucker.

It is odd that the head of a GE division should have to make this kind of comment at all. The head of the locomotive division probably wouldn't make comments about the future of his business. Meanwhile, NBC Universal can go on operating as usual whether Wall Street thinks it is for sale or not.

The argument for selling NBC is that the unit does not fit with the conglomerate's industrial and financial operations. That is true, but owning a network does mean tickets to the Super Bowl and the Oscars.

NBC is a $15 billion business with operating income running about $2.5 billion, making it a modest part of GE's overall earnings. Still, the business is about the size of CBS (NYSE: CBS), which has a market cap of $21 billion and debt of $7 billion.

For the $28 billion enterprise value of CBS, GE would sell NBC tomorrow.

Douglas A. McIntyre is an editor of 247wallst.com.

NBC is probably not for sale originally appeared on BloggingStocks on Tue, 30 Oct 2007 10:48:00 EST. Please see our terms for use of feeds.

Are DVDs on their way out as a way to distribute films, specials, TV shows and other video content? Although the early-adopter crowd says yes, I have my doubts. The value added into DVDs these days far outweighs the relative complexity many consumers must confront to get downloadable video content onto their living room televisions.

Alternate audio tracks, digital surround and a plethora of extra features movie producers add to most DVDs are prized by almost every DVD fan I know. On the other hand, downloading a movie for free can be a bit of a process for the technically challenged as well as being a pain to get on that television. There are products like the Apple, Inc. (NASDAQ: AAPL) Apple TV that takes care of this, but at a high cost. DVD players? $30 at a local retailer and you are ready to go.

The price of DVDs has continued to come down slowly but surely, which has to cause concern for movie studios who fear margins are being eroded at the same time movie downloads threaten to lower the revenue bar even further. In an age where DVD releases are meant to make up theater revenue letdowns, the dropping of DVD prices could be seen as a threat. But movie downloads? It's hard to find one solution offered by any company that even comes close to threatening the physical DVD as distribution medium for video content.

Continue reading Hollywood freaking out over lower DVD prices, movie downloads?

Hollywood freaking out over lower DVD prices, movie downloads? originally appeared on BloggingStocks on Tue, 02 Oct 2007 11:30:00 EST. Please see our terms for use of feeds.

Continue reading 'Transformers' and 'Shrek' flex muscles: A review of the summer blockbusters

'Transformers' and 'Shrek' flex muscles: A review of the summer blockbusters originally appeared on BloggingStocks on Tue, 25 Sep 2007 17:46:00 EST. Please see our terms for use of feeds.

• Courtesy hello -- I really enjoyed awkwardly waving at you
• Graduation -- Congratulations on getting through the easiest part of your life
• Business - Just getting on your radar because I may need something from you soon

Funny Bidness -- e-cards that rock; robot spy blimp; Spiderpig hoax; a fishy spa treatment originally appeared on BloggingStocks on Sat, 25 Aug 2007 09:02:00 EST. Please see our terms for use of feeds.

Viacom Inc. (NYSE: VIA) today reported second quarter earnings that exceeded Wall Street's low expectations.

Net income was $434 million, or 63 cents per share, compared with $437 million, or 61 cents, the New York-based company said in a press release. Revenue rose 13% to $3.19 billion. Excluding gains and charges, profit was 54 cents. Analysts had expected earnings of 50 cents on revenue of $3.07 billion, according to Thomson Financial.

Advertising revenue rose 6% to $1.15 billion while affiliate fees jumped 15% to $577 million. Though profit was hurt by higher costs, revenue from its cable channels rose 10 percent to $1.92 billion, helped by a gain on the sale of MTV Networks' investment in Russia and an impairment charge from Amp'd Mobile.

Strong box office receipts from its Dreamworks SKG films "Shrek the Third" and "Over the Hedge" helped push up revenue in the Filmed Entertainment business by 20% to $1.31 billion. David Jones, an analyst with Miller Tabak & Co., told Bloomberg News that the unit outperformed his expectations by about $100 million.

Shares of Viacom are down more than 7% this year as investors continue to worry about who will succeed chairman Sumner Redstone who reportedly is feuding now with his daughter Shari.

"Revenue was better than expected because filmed entertainment outperformed by about $100 million or so,'' David Joyce, an analyst with Miller Tabak & Co. in New York, said in an interview. He has a "buy'' rating on the shares and doesn't own them.

Viacom earnings exceed low expectations originally appeared on BloggingStocks on Thu, 02 Aug 2007 08:45:00 EST. Please see our terms for use of feeds.

Disney looks to C.S. Lewis for continued box office boost originally appeared on BloggingStocks on Mon, 30 Jul 2007 15:56:00 EST. Please see our terms for use of feeds.

General Electric Co. (NYSE: GE) CFO Keith Sherin defended his company's continued holding of NBC Universal and gave the media conglomerate a surprisingly high valuation of between $40 billion and $45 billion.

GE has been getting plenty of flack about holding on to NBC since it is not #1 or #2 in its market, as previous CEO Jack Welch would have wanted it to be. Sherin pointed out during a lunch meeting with me, my fellow blogger Jon Ogg and a few other writers that NBC is "priceless waterfront property." Sherin argued that Welch had picked up NBC from RCA at a relatively low price -- increasing its value from $3 billion to $10 billion. And in 2004, after forming NBC Universal with Vivendi Universal, the new entity was worth $32 billion. Sherin now estimates that NBC Universal is worth between $40 billion and $45 billion, although I am not sure I understand how he arrived at this figure.

Continue reading BloggingStocks Interview: GE CFO talks up NBC Universal

BloggingStocks Interview: GE CFO talks up NBC Universal originally appeared on BloggingStocks on Wed, 25 Jul 2007 10:30:00 EST. Please see our terms for use of feeds.

Maybe at 39, I am too old and cynical to fall under the spell of Harry Potter. Maybe my nine-month-old son will one day become a fan of the teenage wizard. Until then, I shall avoid all Potter books and movies even though I am one of the few people on the planet to do so.

Harry Potter and the Order of the Phoenix, the latest chapter in the J.K. Rowling franchise, grossed $44.8 million yesterday, the biggest Wednesday ever, according to Reuters. That's good news, of course, for Time Warner Inc. (NYSE: TWX), the film's producer and distributor.

The movie even got a backhanded compliment from A.O. Scott of the New York Times who wrote; "Although Order of the Phoenix is not a great movie, it is a pretty good one, in part because it does not strain to overwhelm the audience with noise and sensation."

But investors shouldn't buy shares of the New York-based media company just because of one hit movie. Remember that blockbuster movies are extremely expensive to produce, though the power of Potter continues to amaze me.

Since 2001, the Potter saga movies have generated $3.5 billion in ticket sales. What they haven't done though, is reverse the decline in reading, the Times also notes.

There are some things beyond the powers of the greatest wizards.

Gallery: Everybody loves Harry Potter

Why I am not wasting a baby sitter on Harry Potter originally appeared on BloggingStocks on Thu, 12 Jul 2007 18:50:00 EST. Please see our terms for use of feeds.

The Simpsons Movie

Simpsons-mania! originally appeared on BloggingStocks on Thu, 12 Jul 2007 17:00:00 EST. Please see our terms for use of feeds.