Eastman Kodak Leaps on Patent Decision

Eastman Kodak (NSYE:EK) climbed 13% Monday morning as shareholders cheered the company’s partial victory late last week in a key patent dispute against Apple (NASDAQ:AAPL) and Research in Motion (NASDAQ:RIMM) that could generate $1 billion in new revenue.

The rush to buy shares of Kodak comes after the International Trade Commission said Friday evening it will review a judge’s ruling in January that Apple’s iPhone and RIM’s BlackBerry did not violate a Kodak patent on an image-preview feature in camera phones.

Ahead of that ITC announcement, Kodak surged 8.63% on Friday -- its biggest one-day gain in three months -- after CEO Antonio Perez told Bloomberg News a favorable ruling could add more than $1 billion in new licensing revenue for the company.

Rochester, NY-based Kodak is asking the government for a limited exclusion order preventing importation of infringing devices, including iPhones and camera-enabled BlackBerry devices.

Kodak won a similar patent dispute against electronics companies Samsung and LG, bringing in some $964 million.

The ITC is expected to make a final decision on the matter by May 23.

Shares of Kodak leaped 13.2% to $3.85 Monday, eating into the stock’s still-sizable 36% 2011 plunge. Apple and RIM's stock gained slightly.