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Corning Inc. (GLW)

  • Feb. 27, 2012, 4:08 PM
    Corning (GLW -0.9%) says it has qualified Gorilla Glass 2 - a thinner, more touch-sensitive successor to traditional Gorilla Glass - with over half of its current customers, and has begun shipping the product to customers. With Corning admitting its glass business faces "structural" long-term challenges, the company badly needs the price/margin boost a new Gorilla Glass offering can provide.
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  • Feb. 6, 2012, 10:13 AM
    Piper Jaffray upgrades Corning (GLW +1.4%) shares to Overweight from Neutral with a raised price target to $16 from $13, asserting that GLW will resume earnings growth next year and perhaps see 19% growth to $1.60 per share, vs. ~$1.35 this year. GLW likely will be more aggressive in its stock buyback, it has $3.4B in net cash and is generating "substantial" free cash flow.
  • Feb. 3, 2012, 9:35 AM
    Corning (GLW +2.4%), which badly needs new growth opportunities for its display glass business, is forming a JV with Samsung (SSNLF.PK) that will produce substrates based on Corning's Lotus Glass for Samsung's OLED mobile displays. The news is a positive for OLED technology and materials supplier Universal Display (PANL +2.8%), which counts Samsung as its largest customer.
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  • Jan. 26, 2012, 9:55 AM
    In response to the soft forecast attached to Corning's (GLW) Q4 report, Goldman (Neutral) is lowering its PT to a mere $11. Of particular importance to Goldman is management's earnings call admission that the problems in its display glass business are "structural," with price declines offsetting any long-term volume growth. DisplaySearch recently noted that even Corning's Gorilla Glass growth is slowing.
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  • Jan. 25, 2012, 6:05 PM
    Long-term investors might want to look past the headline decline and consider a buy-and-hold stake in Corning (GLW -10.7%), which Jeff Reeves believes has the prospect for a "significant rebound." Corning is a well-run company with a history of good numbers, and its new Gorilla Glass 2.0 could begin boosting results just in time to stabilize the stock and help it bounce back.
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  • Jan. 25, 2012, 10:26 AM
    Corning (GLW -10%) shares continue their post-earnings slide, as investors focus on dismal conditions in the LCD glass industry. Prices will continue to fall rapidly, GLW warns, with no growth in the core display glass business over the next few years. "We believe Corning is approaching a new floor in terms of profitability, [and] our plan is to grow profits from this new level," CEO James Flaws says.
  • Jan. 25, 2012, 9:00 AM
    Premarket gainers: ILMN +39%. PACB +21%. CA +16%. NBG +10%. TXT +9%. AAPL +9%. TPX +9%. LCC +7%. LIFE +7%. TQNT +6%. CRUS +6%. DAL +6%. RDN +5%. ZNGA +4%. WLT +4%. BRCM +4%.
    Losers: FBC -24%. REDF -16%. ERIC -15%. FIO -12%. GLW -10%. ALU -9%. WLP -5%. AMD -4%. NVS -4%. WPZ -4%. NVDA -4%. MT -3%. ING -3%.
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  • Jan. 25, 2012, 7:39 AM
    More on Corning's (GLW) Q4: Sales off 9% Q/Q, impacted by decrease in glass prices. Segment sales results include a 13% Q/Q decline in Telecommunications and a 4% drop off in Display Technologies. Says its working with financially-distressed clients by reducing glass prices. Shares -4.2% premarket. (PR)
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  • Jan. 25, 2012, 7:23 AM
    Corning (GLW): Q4 EPS of $0.33 in-line. Revenue of $1.89B (+7% Y/Y) beats by $0.05B. Company expects significant double-digit price declines over the cumulative two-quarter period of Q4 and Q1. Shares -4.4% premarket. (PR)
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  • Jan. 25, 2012, 12:05 AM
    Notable earnings before Wednesday's open: ABT, ADP, ATI, BA, BPOP, COP, DAL, DOV, ERIC, EXC, GD, GLW, GWW, HCBK, HES, IGTE, LCC, MSI, MWV, NVS, NYB, OXY, PII, PX, RES, ROK, SAP, SO, STJ, TEL, TXT, UTX, WLP, XRX
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  • Jan. 24, 2012, 5:30 PM
    Notable earnings before Wednesday's open: ABT, ADP, ATI, BA, BPOP, COP, DAL, DOV, ERIC, EXC, GD, GLW, GWW, HCBK, HES, IGTE, LCC, MSI, MWV, NVS, NYB, OXY, PII, PX, RES, ROK, SAP, SO, STJ, TEL, TXT, UTX, WLP, XRX
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  • Jan. 17, 2012, 1:13 PM
    InvestorPlace wraps up its coverage of the tech industry's CES show by calling it a bit "lackluster" compared to previous years' editions. Despite the lack of new product buzz and a no-show by Apple, five companies did manage to make a positive splash that offer up a "tradeable" trend. CES winners: MSFT, DELL, GLW, INTC, SIRI.
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  • Jan. 6, 2012, 3:48 PM
    Corning (GLW +2.2%) gets a lift on positive comments out of KeyBanc today. The firm initiates coverage with a Hold on short-term concerns over valuation, but note the company's attractive long-term potential.
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  • Jan. 6, 2012, 9:37 AM
    Corning (GLW) says it will introduce Gorilla Glass 2, the next-gen version of its hit specialty glass product, at CES next week. The company claims Gorilla Glass is currently used in more than 575 products, and has said in the past it's working on Gorilla Glass products that can be molded into 3D shapes.(previously)
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  • Dec. 27, 2011, 9:55 AM
    TV sales have been strong this holiday season, but as Best Buy's (BBY) FQ3 report demonstrated, that isn't necessarily translating into higher profits for either TV makers or retailers, given the huge promotions needed to spur demand. Though the average size of a TV set sold in North America has risen to 38 inches, the average selling price is only $460 - less than the price of Apple's cheapest iPad.
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  • Dec. 20, 2011, 9:18 AM
    Barclays lines up an Overweight rating on the tech sector for 2012 as part of its equity outlook for the coming year. The firm takes a shotgun approach to find growth stories across the hardware, software, clean tech, and semi sectors. Favorite picks: AAPL, CTXS, GLW, QCOM, TER, TSLA, ALTR.
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Company Description
Corning Inc is engaged in manufacturing of specialty glass and ceramics. The Company's segments are Display Technologies, Optical Communications, Environmental Technologies, Specialty Materials and Life Sciences.