Getty Rejects a $4 Billion Takeover Offer
Getty has rejected Trillium Capital's nearly $4 billion takeover offer as not "sufficiently credible." Trillium claims the offer is credible, but declined to provide the details to prove it.
Is Nikon Caught in a Perfect Storm?
It's no secret that Nikon has been having a tough time financially -- a result of an over-reliance on its Imaging Division -- and has been implementing a medium-term strategy to help balance the books and foster long-term growth. Results from its Imaging Division suggest it is struggling and possibly caught in a perfect storm.
Kodak Stock Rockets Over 2,000% in 48 Hours on Drug Pivot News
If you were an investor in Kodak prior to this week, you're probably grinning from ear to ear right now. After news emerged yesterday that Kodak is doing a major pivot into drug manufacturing with a $765M loan from the US government, mom-and-pop investors are now piling into KODK, sending the stock soaring over 2,000%.
Activist Investor Building Bigger Stake in Sony, Wants to Spin Off Sensor Business
Activist investor Daniel Loeb is reportedly using the current low stock prices to build a bigger stake in Sony and "push for changes," including spinning off the brand's image sensor business into a separate entity called Sony Technologies.
Leica Invests in Light as Part of Massive $121M Funding Round
Light, the startup behind the groundbreaking 16-camera camera L16, has a new investor with a much longer history in photography. Leica is now a shareholder in the computational photography company.
Canon Profits Down 21% as Mirrorless Cameras Cut Into DSLR Sales
Canon announced its quarterly earnings today, revealing that its operating profit for the quarter (~$665 million) has fallen 21% compared to last year and that total revenue fell by 4.5%. At the same time, Canon increased its full-year earnings estimate due to a drop in the value of the Japanese yen.
Kodak Lost $1.38 Billion in 2012, Hopes to Leave Bankruptcy in Mid-2013
Kodak burned historic amounts of money in 2012, but is apparently still on track to leave bankruptcy sometime this year. The company released an annual report with performance figures and messages to investors. One of the glaring numbers in the statement was the fact that company lost $1.38 billion in 2012, almost double the amount it lost in 2011.