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This is very Imus in the morning.
On the part of the.
Good morning everyone the company that invented the hand held camera is making history once again.
Eastman Kodak has filed for bankruptcy protection the move comes after the 130 year old company failed to raise fresh capital to finance its turnaround efforts.
Despite trying to sell 11100 digital patents even with those patents Kodak struggle to keep up with competitors who were quicker to adapt to the digital age.
In its Chapter Eleven filing the company says it's facing one point six billion dollars in debt.
The move will give Kodak time to reorganize itself without facing creditors the company also has obtained -- 950 million dollar credit line from Citigroup to keep itself going.
Checking the markets now here in the US futures have been in the Green but not by much of searching for direction a little bit Dow futures right now are up by twelve BS and -- up about one.
And the NASDAQ is up roughly six points over in Europe.
Spain sold six point six billion euros of bonds that's more than expected the average yield of the ten year option was five point 4% down from six point 97% any previous auction.
France also sold almost eight billion euros worth of bonds with yields falling compared to previous auctions.
And markets there are up across the board as well London's up by seventeen parents of the by 28 and Frankfurt's up by eleven.
Now with more on what's moving those European markets joining me now is ETX capital senior trader may not -- -- not.
Isn't banks reporting earnings this morning Morgan Stanley Bank of America -- -- you expect those results to factor into the European market.
Well innocent have knock on effects tenets of the European banking markets as well.
Where which is doing relatively well where we're seeing at the -- coming in -- on the back of Commerzbank.
That's stating that it's it does have adequate capital that to bolster -- found -- that's.
But what's in the US banks -- -- very closely as well because as an indication of how.
Global globally banks banks are like these are reports that we could see that investment banking -- certainly for lots of Bank of America.
This is pretty much to be expected has been Fay will fight city into in in scholarship prices.
Alright thanks -- -- -- speaking of those bank earnings reports Bank of America and Morgan Stanley had just reported a fourth quarter results.
Let's go to fox business's Liz MacDonald for breakdown of those numbers island.
But we're also seeing is that Bank of America wants to -- of big pay attention this one line liquidity is up about 43 billion dollars of 378 billion.
This is a bank that has suffered a lot about public relations disasters.
-- the five months you know five dollar -- monthly debit cards the what we're going to be watching for -- Bank of America's expenses because that was a big hit that they took in that -- preceding quarters.
Then they basically analysts have been increasingly bullish on Bank of America the revenues.
Have been coming in basically in line right now but the earnings per share estimates have been moving up.
Over the past record is Mike Mayo had the bank coming in at ten cents a share some -- his estimates basically Bank of America beating Mike -- Mike -- -- have a that.
Quarterly revenue is coming in strong -- so Bank of America reporting.
A start coming in line with their earnings per share estimate of fifteen cents a share and a slight lead on the top line back to you Diane.
All right thanks -- And shares of eBay -- -- in early two and a half percent an extended trading after the company beat the street with its fourth quarter results.
EBay sites continued growth in PayPal accounts and market share along with the sale of its remaining stake in Skype.
EBay reported an adjusted profit sixty cents a share which topped estimates by three cents revenue of 3.4 billion dollars also beat expectations of 3.3 two billion.
The company also said it's eBay mobile saw a record five billion dollars in transactions through mobile devices last year.
BP could be looking to settle all civil and criminal charges stemming from the 2010 oil spill in the Gulf of Mexico.
-- says the latest note by Morgan Stanley's head of European oil research predicts the oil giant will reach a twenty to 25 billion dollar deal.
With the Department of Justice to settle all charges the -- says the agreement will likely take place between BP's every seventh release of full year results.
And is scheduled February 27 start of legal hearings on the spill BP sources have told Reuters that talks with the DOJ about a possible settlement.
Our ongoing and the company's board is now holding weekly meetings to discuss their progress.
Some AT&T customers will soon have to pay more to surf the web.
The company -- announced it will raise prices as much as 33% on data plans for Smartphones and tablets beginning Sunday.
The -- only affects new customers existing clients will be able to keep their current plans.
But while they are more expensive the new plans will give users more data for their money and AT&T spokesman says that -- usage is increasing by an estimated 40%.
Here's a look at commodities now.
Oil and gold are both up oil up about a dollar right now hovering around 101 dollars a barrel gold up about four dollars at 1664.
And a Imus in the morning continues right now on Fox Business.
Giving you the -- across.
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