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twitterFilmmaker’s stock falls as stock buybacks end
Friday, March 2, 2001 | 11:21 a.m.
THE ASSOCIATED PRESS
ROCHESTER, N.Y. -- Eastman Kodak Co., the world's largest photography company, said it stopped repurchasing stock to pay off debt and to make acquisitions. Kodak shares fell as much as 5.5 percent.
Kodak said it had been spending about $1 million a day to buy back shares since Dec. 12, when it lowered profit estimates because of slowing film sales. In the fourth quarter, Kodak bought back $445 million in stock, or about 10 million shares.
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