Tuesday, July 7, 2009

Positive comments (EK, AA)

AlphaNinja - Not putting an abundance of confidence in these comments, but thought I'd share...In the meantime, the US markets are about to close near 9-week lows in a few minutes.

WSJ passing along comments from Eastman Kodak (EK).

Eastman Kodak Co. Chief Executive Antonio Perez said retailers the company deals with "believe Christmas will be much better than last Christmas."

And then this little gem:

He said "if we think the fourth quarter will be lousy," that Kodak has "plenty of options." He is confident that Kodak would find investors eager to help it recapitalize and continue operations.

What the hell that means is anyone's guess. Hopefully he's not suggesting a Lear-type recapitalization, in which common stock is wiped out. And I'm not sure if these WSJ comments comply with Reg FD disclosure requirements.
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Alcoa (AA) is making some bold statements today, with CEO Kleinfeld saying he's "very optimistic" about sales recovering in China, as well as the US auto industry.

“China is clearly out of the woods,” Kleinfeld said in a Bloomberg Television interview in Moscow today. “Its economy has come back and is growing again.” China reverted to being a net importer of aluminum this year, buying 700,000 metric tons of the metal in the first six months, he said.

I hope he's right - we'll have more details and more to talk about when Alcoa kicks off earnings season (like it ever ends...) tomorrow.

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