Opportunities in global industrial stocks trading at Covid-level valuations, says Pella Funds CIO
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Yahoo
2 hours ago
- Yahoo
Kodak denies it's shutting down amid media reports of financial struggles
Eastman Kodak is denying reports that it's shutting down. On Wednesday, media outlets like CNN and CNBC detailed the company's ongoing financial challenges, including statements made in its earnings report that warned investors it didn't have 'committed financing or available liquidity' to meet debt obligations coming due within 12 months. Shop Top Mortgage Rates A quicker path to financial freedom Personalized rates in minutes Your Path to Homeownership However, Kodak quickly published a press release to counter these claims, noting it has 'no plans to cease operations' or file for bankruptcy protection. Rather, it claims to have plans to 'repay, extend, or refinance' its debt before the due date and expects to have a stronger balance sheet by early next year. The company also offered an explanation of its financials, noting it will use $300 million in cash it's receiving in December 2025 from its pension plan termination to address a large portion of its $477 million in term debt. It will then address the remaining $177 million in debt and another $100 million in preferred stock outstanding. Despite these clarifications on recent issues, the 133-year-old company has regularly struggled with finances as digital technology eclipsed film sales. Kodak previously filed for bankruptcy in 2012. In recent years, however, some Gen Z users have embraced older tech, like compact cameras and dumb phones, as a way to tap into nostalgia for a time they never got to experience. We're always looking to evolve, and by providing some insight into your perspective and feedback into TechCrunch and our coverage and events, you can help us! Fill out this survey to let us know how we're doing and get the chance to win a prize in return! Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
CNBC
3 hours ago
- CNBC
OpenAI in talks to sell around $6 billion in stock at roughly $500 billion valuation
OpenAI is preparing to sell around $6 billion in stock as part of a secondary sale that would value the company at roughly $500 billion, CNBC confirmed Friday. The shares would be sold by current and former employees to investors including SoftBank, Dragoneer Investment Group and Thrive Capital, according to a person familiar with the negotiations who asked not to be named due to the confidential nature of the discussions. The talks are still in early stages and the details could change. Bloomberg was first to report the discussions. All three firms are existing investors in OpenAI, but Thrive Capital could lead the round, as CNBC previously reported. SoftBank, Dragoneer and Thrive Capital did not immediately respond to CNBC's request for comment. OpenAI's valuation has grown exponentially since the artificial intelligence startup launched its generative AI chatbot ChatGPT in late 2022. The company announced a $40 billion funding round in March at a $300 billion, by far the largest amount ever raised by a private tech company. Earlier this month, OpenAI announced its most recent $8.3 billion in fresh capital tied to that funding round. Last week, OpenAI announced GPT-5, its latest and most advanced large-scale AI model. OpenAI said the model is smarter, faster and "a lot more useful," particularly across domains like writing, coding and health care. But it's been a rocky roll out, as some users complained about losing access to OpenAI's prior models. "We for sure underestimated how much some of the things that people like in GPT-4o matter to them, even if GPT-5 performs better in most ways," OpenAI CEO Sam Altman wrote in a post on X.
CNBC
3 hours ago
- CNBC
CNBC Markets Now: August 15, 2025
CNBC Markets Now provides a look at the day's market moves with commentary and analysis from Michael Santoli, CNBC Senior Markets Commentator.
