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The Daily Dow LEXINGTON, Ky. (May 1): Eastman Kodak CEO George Fisher gave Wall Street a picture, if you'll pardon the pun, of Kodak's future today. Kodak held an analyst meeting in New York, outlining new products the company will be marketing this year as well as announcing plans to boost capital spending in order to meet the demand for the company's new Advantix cameras and to help Kodak enter emerging markets in India and China. According to Morgan Stanley analyst Brenda Lee Landry, Kodak plans to increase it s capital spending for increased manufacturing capacity by half in 1996, to roughly $750 million. This represents just a portion of Kodak's overall capital spending, of course, which totaled over $1 billion in 1995. Fisher also gave a positive view of Kodak's future as a film-maker in an increasingly digital environment: "Despite fears that digital will cannibalize film, we haven't seen it," Fisher said. "In a good number of venues, like with digital print stations, we see digital supplementing traditional imaging and providing us with new profit streams for media." Fisher also noted that during 1996, Kodak will begin marketing several new products, including a picture disk that enables photo-finishers to put up to 28 pictures from a developed roll of film on a floppy disk, a low-cost print scanner that will handle 4- by 6-inch prints, and a low-end digital camera that will approach the $350 barrier. Kodak also announced that it has formed a special alliance with Hewlett-Packard <% if gsSubBrand = "aolsnapshot" then Response.Write("(NYSE:HWP)") else Response.Write("(NYSE:HWP)") end if %>, Microsoft <% if gsSubBrand = "aolsnapshot" then Response.Write("(NASDAQ:MSFT)") else Response.Write("(NASDAQ:MSFT)") end if %>, and Live Picture to develop a new image file format for sending photos over the Internet. The new format will make it faster and easier to work with high-resolution images on computers and across the Internet without the use of extra memory, larger hard drives or faster processors, the company said. Apparently the Wall Street crowd liked the portrait Fisher painted today. Kodak stock picked up roughly 2% on the day, placing it firmly in the top spot as the Foolish Four all-star stock so far this year. Transmitted: 5/1/96 5:42 PM
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THE FOOLISH FOUR MODEL (5/1/96) |
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