Shares of Eastman Kodak Co. jumped more than 8 percent Wednesday, a day after the maker of photography equipment reached an income tax-refund settlement with the Internal Revenue Service that will boost fourth-quarter earnings.

Kodak’s shares, which had hit a two-year low last month as it battles through a digital transformation, rose $1.87, or 8.4 percent, to close Wednesday at $24.02. The stock climbed as much as 13 percent at one point on more than double its average daily volume.