Seeking Alpha

Corning (GLW -3.5%) heads south following a downgrade to Neutral from Goldman. The firm argues...

Corning (GLW -3.5%) heads south following a downgrade to Neutral from Goldman. The firm argues the catalysts that drove its September upgrade - improving LCD industry fundamentals and capital allocation moves - are mostly played out in the wake of Corning's Q3 beat and Q4 pre-announcement. Moreover, it sees forex and a Q1 LCD inventory correction producing downside to estimates. Corning closed yesterday right around where it was when Goldman made its upgrade.
Comments (7)
  • I do think forex risk is more substantial than what most people think: http://seekingalpha.co...
    11 Jan 2013, 11:17 AM Reply Like
  • what a dog glw turned out to be....i remember when it was 28 bucks.
    its hard to understand with such a big market share why this
    stock has gone south and has lingered for years
    11 Jan 2013, 11:28 AM Reply Like
  • Well, i bought this stock at 12.8 before the ces 2013. As soon as i saw their performance, i begin to understand that this firm has no interest in generating more benefits with their market.

     

    I do agree with Goldman, so i sold this share at 12.62 yesterday. In my opinion, 8-9 dollar level is more suitable for the company's stocks price
    11 Jan 2013, 11:32 AM Reply Like
  • Whenever Goldman speaks, do the opposite unless your own analysis supports their recommendation. I think GLW is good to go back to 15 by the middle of 2013 based on economic recovery and technology move to touch based devices.
    11 Jan 2013, 02:31 PM Reply Like
  • Interesting, my judgement is based on another comment. That person told me that he invesgate cornings over the last two years, and he got only divende but nothing i just left. Bought Nokia at 3.8; and now i got 4.7 in my bag. almost 30% gains in two days. Btw, Goldman hold 116M shares of Nokia. I was saying maybe it's a good company, but i don't really got confiance on it.
    11 Jan 2013, 03:26 PM Reply Like
  • down 3.5% on a downgrade to Neutral. What has the market turned into. One big farce. seriously, they said, the target is now 14.00 instead of 14.50 and the stock drops [over 4%] during the course of the day. Absolutely ridiculous. No logic left in this market. IMO the stock did not deserve to be sold down as much as it did, however makes you wonder, how far it will drop if the market doesn't like the Q4 numbers. Nothing surprises me anymore.
    12 Jan 2013, 12:31 AM Reply Like
  • I sold in October at $13.25. Will think about buying back in at $9. Hard to fight the Market trend until Gorilla Glass proves its profit growth for Corning
    12 Jan 2013, 10:12 AM Reply Like
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