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Kodak Shares Surge; Patent Defeat to Be Reviewed

Shares of Eastman Kodak surged 20 percent in late trading on Friday after the International Trade Commission said that it would review the camera maker's loss in a patent battle with Research in Motionand Apple.

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Kodak filed an ITC complaint against Apple and RIM in January 2010, arguing that Apple's iPhone and RIM's camera-enabled Blackberry were an infringement on a Kodak patent related to a method for previewing images. Click here for late Kodak stock quotes.

The commission, which hears patent cases involving imported products, said that it would review a decision by ITC Administrative Law Judge Paul Luckern, who had ruled in January that Research in Motion and Apple did not infringe.

Kodak is asking the ITC to bar the importation of Apple and RIM mobile phones and other wireless devices with digital cameras.

A favorable decision would revive Kodak's hopes of negotiating royalties worth $1 billion or more.

Kodak has amassed more than 1,000 digital-imaging patents, and almost all digital cameras rely on that technology. Mining its rich array of inventions has become an indispensable tool in a long and painful turnaround.

Shares of Eastman Kodak rose 9 percent in the day in anticipation of the announcement.

Research in Motion shares fell 11 percent during day trading, and rose in late trading. Click here for after hours quotes.

Apple shares rose by 2 percent during day trading, but were higher in extended trade. Click here for after hours quotes.

The Associated Press and Reuters contributed to this report.