WALL STREET STOCKS/POLAROID <PRD>
Rumors that New York investor Asher
Edelman has acquired a stake in Polaroid Corp and optimism
about tomorrow's status hearing on the patent infringement suit
pending with Eastman Kodak Co <EK> sent Polaroid's stock
higher, traders said.
    Polaroid rose 1-1/8 to 74-1/2.
    "Speculation that Edelman was going to take a stake in
Polaroid was kicking around a few months ago, and resurfaced
today," one trader said.
    Edelman had no comment on the rumors.
    A spokesman for Polaroid said the company had not been
contacted by Edelman and no filing had been made with the
Securities and Exchange Commission about a stake in the
company.
    "There is some hope among investors that there will some
progress in the status hearing tomorrow on the patent
infringement suit with Kodak," analyst Michael Ellmann of
Wertheim and Co said.
    Traders said it is conceivable that a trial date could be
set or some progress made on an out-of-court settlement.
    The suit, filed by Polaroid in April 1976, charges that
Kodak infringed upon Polaroid's instant camera patent. In
October 1985, the court barred Kodak from selling cameras or
film that infringe upon the patent, the Polaroid spokesman
said.
    Ellmann said he feels it is highly unlikely that any
progress will be made in tomorrow's hearing.
    Ellmann said the stock may have also gotten a boost today
from some optimism concerning new products the company is
currently working on.
    "Polaroid's announcement that a particularly senior company
executive had been chosen to work on a major unidentified new
product spurred some speculation about their products," he
said. "I am speculating that the new product could be an
electronic still camera," referring to a camera that records
its images on magnetic disks as opposed to conventional film.
    Ellmann said the stock may have also gotten a boost today
from some optimism concerning new products the company is
currently working on.
    "Polaroid's announcement that a particularly senior company
executive had been chosen to work on a major unidentified new
product spurred some speculation about their products," he
said. "I am speculating that the new product could be an
electronic still camera," referring to a camera that records
its images on magnetic disks as opposed to conventional film.
 Reuter
