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Corning (GLW -0.2%) isn't getting a lift from an upgrade to Neutral from JPMorgan. The firm is...

Corning (GLW -0.2%) isn't getting a lift from an upgrade to Neutral from JPMorgan. The firm is encouraged by recent increases in LCD panel pricing, particularly for TV panels, and thinks customer inventories of LCD glass are likely to stabilize after recent reductions. Also, while admitting the demand environment for Corning's glass is bleak, JPMorgan notes shares are trading at a price/book multiple last seen during the '08 financial crisis.
Comments (6)
  • TwistTie
    , contributor
    Comments (2477) | Send Message
     
    Somebody tell Warren about this.
    22 Jun 2012, 11:56 AM Reply Like
  • kingoftheinternet
    , contributor
    Comments (40) | Send Message
     
    I don't get how demand is weak. Is the LCD business that big a part of their business? What about the fact that Gorilla Glass is currently all over the mobile phone market, was just announced as an ingredient brand of choice for all the new MSFT phones coming out, and THEY JUST INVENTED A TOTALLY NEW KIND OF GLASS, Willow Glass (flexible and bendable). Imagine the possibilities for that! Then again, the last time I wondered why a stock that looked good wasn't getting any love was a little stock called CHK. So what is it I'm missing this time?
    22 Jun 2012, 12:55 PM Reply Like
  • SA Editor Eric Jhonsa
    , contributor
    Comments (758) | Send Message
     
    LCD TV glass is a pretty big part of Corning's business. The surface area of a 40"+ TV panel is much bigger than the surface area of a 4.3" smartphone, and that makes a huge difference when it comes to selling price, even if the smartphone glass is more costly per square inch.
    22 Jun 2012, 04:42 PM Reply Like
  • kingoftheinternet
    , contributor
    Comments (40) | Send Message
     
    Thanks for replying. Of course the pure dimensions of the LCD products equals more glass sold, but it seems like drop in TV sales should not offset these two big pieces of news. Especially b/c it looks like the lost momentum is "already priced in." Either way, I think they are innovating to stay relevant in the technology sector, having such products for mobile computing and tablet computing, and whatever they can think of for Willow Glass. Maybe Gorilla Glass will be on the new (fabled) large Apple iTVs and it will be doubly good news for GLW. This is a stock i am going to keep scooping up at these prices. How many other stocks do you wish you had scooped up at '08 prices?
    23 Jun 2012, 02:29 PM Reply Like
  • sethmcs
    , contributor
    Comments (3095) | Send Message
     
    Bought a nice chunk GLW @ $12.50. I never thought that stink bid would get filled. Investors in volatile markets should always have cash and low ball GTC orders in place to scoop up bargains as the market makes them available. GLW management is excellent and will more than reward shareholders down the road. I can imagine the stock is worth double that price.
    23 Jun 2012, 02:11 AM Reply Like
  • Modernist
    , contributor
    Comments (2110) | Send Message
     
    can anyone suggest some intriguing shorts to pair
    23 Jun 2012, 07:54 PM Reply Like
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