Market Wrap: The $25B Mortgage Deal; Eastman Ends Its Legacy; LinkedIn Kickin' Butt; Ford Shuffles Top Brass

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Market wrap-up for February 9th

End of the Day: Dow Jones up 6.5 to 12,890.46; Nasdaq up 11.4 to 2,927.23; S&P 500 up 2.0 to 1,351.95

The following is a brief summary of events moving markets today:

It's at least something: According to releases out earlier, five large U.S. banks, federal regulators, and other parties have settled fraudulent foreclosure practices for $25 billion or so.

Data shows BofA's (NYSE: BAC) commitment in the deal sits at $11.8 billion, JPMorgan (NYSE: JPM) and Wells Fargo (NYSE: WFC) are at $5.3 billion each, Citi's (NYSE: C) commitment is $2.2 billion, and Ally Financial is said to have $310 million of the total. For more color, click here.
Eastman Kodak (OTC: EKDKQ) said it was going to shutter its camera-making business, including digital camera, pocket cameras, and digital picture frames. This is the end of a generation -- er, several generations -- since Eastman began making cameras in 1888...124 years ago!

Following its entry into bankruptcy, the move was needed. Eastman says it will save $100 million per year, which is music to investors' ears. The devices will most likely now be produced overseas for cheaper, allowing better profit margin for the venerable namesake.
LinkedIn (NYSE: LNKD) reported strong fourth-quarter numbers after the market closed. Revenue was $167.7 million and EPS came in at $0.12, versus expectations for revs of $159.7 million and EPS of 7 cents.

Looking ahead, LinkedIn sees first-quarter revs of $170 million to $175 million, versus the Street's expectations of $170.8 million. For fiscal 2012, the company sees revs of $840 million to $860 million, compared with views calling for $828 million.
PepsiCo (NYSE: PEP) reported revs of $20.16 billion and EPS of 1.15, beating views calling for $19.9 billion in revs and EPS of $1.13. Pepsi also issued a 2012 outlook, which can be found here.
Ford Motor (NYSE: F) made some official switches to its top brass Thursday. Lewis Booth, executive vice president and chief financial officer, and Derrick Kuzak, group vice president, Global Product Development, said they have elected to retire effective April 1st, 2012.

Succeeding Booth will be Bob Shanks, who is currently Controller and Vice President. Kuzak will be succeeded by Raj Nair, current Vice President of Engineering, Global Product Development.

Further, Stuart Rowley, currently chief financial officer, Ford of Europe, has been elected a company officer and will succeed Shanks as vice president and Controller, and Hau Thai-Tang currently executive director, Global Product Programs, has been elected a company officer and will succeed Nair as vice president, Engineering, Global Product Development.

Alan Mulally is still CEO.
Earlier, Oracle (Nasdaq: ORCL) entered into an agreement to acquire Taleo Corporation (Nasdaq: TLEO), a leading provider of cloud-based talent management for $46.00 per share or approximately $1.9 billion, net of Taleo's cash and debt.