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Kodak Shares Soar on ITC Patent Ruling

Shares of Eastman Kodak Company (NYSE EK) finished trading today up 10 percent after the U.S. International Trade Commission (ITC) agreed to re-examine a previous decision that iPhone and BlackBerry don’t violate patents relating to imaging technology awarded to Kodak. In the past two weeks, shares in Kodak have increased 30% in anticipation that royalties could be worth as much as $1 billion. Kodak has settled cases with LG Electronics and Samsung. The ITC’s final ruling is expected May 23.