Kodak shares jump after move to split business Announcing its restucturing, Kodak said it will create two business segments from the current three. The company said it will make changes to its financial reporting starting in the first quarter to reflect the new structure. It also said it expects the design to reduce costs and increase productivity. At least one analyst was skeptical about the move. Supposedly they believe that it will achieve some level of productivity and cost reductions that will be additive to profitability. But in the absence of any detail as to how much benefit these actions will eventually yield, it's tough to say if this is a meaningful announcement or not," said Amer Tiwana, a senior analyst and managing director at CRT Capital Group. The news comes as the company has been trying to raise cash either through new financing or an asset sale. The Wall Street Journal reported last week that Kodak was preparing a Chapter 11 bankruptcy protection filing in case it was unable to sell its digital patents to raise capital. A Kodak spokesman declined to comment on the possibility of bankruptcy. Kodak has been trying to get new financing to enable it to keep operating as it continues to lose money on its new businesses. In addition to trying to raise debt, the company hired investment bank Lazard in July to sell a patent portfolio, which it said would give it the cash it needs.