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Marshall Hargrave's  Instablog

Marshall Hargrave
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Former registered investment adviser rep and current entrepreneur. Now running an equity research company. Affinity for activist campaigns and targeted stocks.
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  • Breaking Down This Glass Company: Corning (GLW) And More 0 comments
    Apr 18, 2013 9:12 PM | about stocks: GLW

    Be sure to check out our detailed stock analysis (click here). Glass company Corning (NYSE: GLW) is heavily exposed to the display market, but is this a negative or a positive? Quite possibly both. The developer of advanced glass substrates could benefit nicely from any slight turnaround in the TV industry.

    In just looking at Corning's financial statements, its reliance on display income is underrated. By adding in Corning's joint ventures with Samsung and Dow

    …a pro forma calculation that includes the JVs shows that Corning's reliance on the display market is more robust than expected. The LCD glass business (which includes Display and Samsung JV) is 35.4% of revenue and a whopping 78.5% of net income.

    The display segment has been growing, with revenues up 2.6% last quarter year over year, which was better than the company's guidance of low to mid single digit decline.

    READ THE REST AT STOCKPUCKER...

    Stocks: GLW
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