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CNN Live At Daybreak
Kodak to Stop Making Traditional Cameras
Aired January 14, 2004 - 06:47 ET
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
CAROL COSTELLO, CNN ANCHOR: Time for a little 'Business Buzz' right now. Soon your Kodak moment may not be captured on film.
Carrie Lee reports live from the Nasdaq market site.
This story makes me feel old.
CARRIE LEE, CNN FINANCIAL NEWS CORRESPONDENT: Well different times, different measures, things progress, Carol. Eastman Kodak yesterday saying it will stop selling traditional film cameras in the United States, Canada and Western Europe. This is another move by the troubled photography company to take advantage of the fast growing digital market.
Now Kodak is going to stop making cameras that use the advanced photo system format and reloadable cameras that use 35mm film by the end of 2004. They are still going to make the film for these cameras, and that's really where the bulk of profit margins are. They are still going to make disposable cameras for sale in the west. And they are still going to make reloadable cameras, but only for emerging markets, places like China, India, Eastern Europe and Latin America.
Kodak shares yesterday rose on this news. So investors are seeing this as a good thing. Looks like different times really calling for different measures here. And if they can get in more in that digital space, Carol, well maybe that's where the growth will come from.
COSTELLO: I think so.
Quick look at the futures.
LEE: Things looking pretty positive right now. We could see a reversal from the fractional losses yesterday. The Dow, the S&P 500, the Nasdaq all losing a little bit of ground yesterday.
Today it's all going to be about profits. We have names like Yahoo!, Apple, Intel all reporting for the recent quarter after the close of trading. The question is will these numbers be good enough to continue these stocks moving higher, because we have seen very nice gains over the past couple of months.
Back to you.
COSTELLO: We sure have. Thank you. Carrie Lee live from the Nasdaq market site.
TO ORDER A VIDEO OF THIS TRANSCRIPT, PLEASE CALL 800-CNN-NEWS OR USE OUR SECURE ONLINE ORDER FORM LOCATED AT www.fdch.com
Aired January 14, 2004 - 06:47 ET
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
CAROL COSTELLO, CNN ANCHOR: Time for a little 'Business Buzz' right now. Soon your Kodak moment may not be captured on film.
Carrie Lee reports live from the Nasdaq market site.
This story makes me feel old.
CARRIE LEE, CNN FINANCIAL NEWS CORRESPONDENT: Well different times, different measures, things progress, Carol. Eastman Kodak yesterday saying it will stop selling traditional film cameras in the United States, Canada and Western Europe. This is another move by the troubled photography company to take advantage of the fast growing digital market.
Now Kodak is going to stop making cameras that use the advanced photo system format and reloadable cameras that use 35mm film by the end of 2004. They are still going to make the film for these cameras, and that's really where the bulk of profit margins are. They are still going to make disposable cameras for sale in the west. And they are still going to make reloadable cameras, but only for emerging markets, places like China, India, Eastern Europe and Latin America.
Kodak shares yesterday rose on this news. So investors are seeing this as a good thing. Looks like different times really calling for different measures here. And if they can get in more in that digital space, Carol, well maybe that's where the growth will come from.
COSTELLO: I think so.
Quick look at the futures.
LEE: Things looking pretty positive right now. We could see a reversal from the fractional losses yesterday. The Dow, the S&P 500, the Nasdaq all losing a little bit of ground yesterday.
Today it's all going to be about profits. We have names like Yahoo!, Apple, Intel all reporting for the recent quarter after the close of trading. The question is will these numbers be good enough to continue these stocks moving higher, because we have seen very nice gains over the past couple of months.
Back to you.
COSTELLO: We sure have. Thank you. Carrie Lee live from the Nasdaq market site.
TO ORDER A VIDEO OF THIS TRANSCRIPT, PLEASE CALL 800-CNN-NEWS OR USE OUR SECURE ONLINE ORDER FORM LOCATED AT www.fdch.com
