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What: Shares of photography veteran Eastman Kodak
So what: Last night, both Moody's and Fitch cut the company's debt ratings, citing limited cash flows and an alarming decision to actually use $140 million of its emergency credit lines. Piling on for good measure, both CNBC and CNN aired and published negative takes on the former camera giant's miserable situation today, and the worst of the downside action followed the CNBC clip.
Now what: It's a shame to see this once-proud company reduced to penny-stock status, looking for some salvage value in an increasingly outdated patent portfolio. It didn't have to be this way. Fellow old-tech titan Xerox
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