Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.

What: Eastman Kodak (NYSE: EK) popped 20% in intraday trading today after announcing that it won the latest round in a patent dispute with Apple (Nasdaq: AAPL) and Research In Motion (Nasdaq: RIMM).

So what: Kodak has a patent on a method to preview digital images that makes efficient use of precious processing power and storage. It claims that Apple's iPhone and RIM's BlackBerry violate that patent.

Now what: Settlements with Samsung and LG Electronics over the same patent were worth a combined $964 million to Kodak. The company's CEO predicted that settlements with Apple and RIM could be worth an additional $1 billion, though it's possible that would be spread over multiple years. An additional $1 billion would do wonders for this unprofitable company's bottom line in the near term, but it wouldn't resolve the business challenges behind its declining revenue.

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