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Corning Inc. (GLW)

  • Jul. 24, 2012, 3:58 PM
    Corning (GLW) and Samsung (SSNLF.PK) are forming a new LCD glass JV, this time in China. The companies will spend up to $600M to build a new Gen. 8 glass plant in the city of Wuxi, with production expected to start a the end of 2013. The Chinese LCD TV market has been a pocket of strength in the face of weak global demand, and now accounts for over 20% of industry sales. Demand for 3D TVs has been especially strong. (previous)
    | Jul. 24, 2012, 3:58 PM | Comment!
  • Jul. 18, 2012, 10:31 AM
    Corning (GLW) declares $0.075/share quarterly dividend, in line with previous. Forward yield 2.4%. For shareholders of record Aug 31. Payable Sep 28. ex-div date Aug 29. (PR)
    | Jul. 18, 2012, 10:31 AM | 2 Comments
  • Jul. 11, 2012, 2:30 PM
    UBS says its checks indicate Corning's (GLW -1.6%). glass shipments are holding up well heading into the company's July 25 Q2 report. That leads the firm to reiterate a Buy and $18.50 PT. However, Corning is following the tech sector lower in the wake of hhgregg's warning, which arguably has negative implications for Corning's TV glass business.
    | Jul. 11, 2012, 2:30 PM | 3 Comments
  • Jun. 26, 2012, 5:19 PM
    UBS, which has been airing bearish comments about the telecom equipment space for a while (I, II), thinks RVBD, FFIV, JNPR, and ARUN are at risk of missing Q2 estimates or lowering guidance due to a weakening demand from Europe (previous) and the U.S. government. ARRS, GLW, and ADTN are viewed as relatively immune. Separately, Caris is joining a growing list of firms (I, II, III) to slash estimates for F5.
    | Jun. 26, 2012, 5:19 PM | 2 Comments
  • Jun. 26, 2012, 2:34 PM
    LCD panel makers are shifting capacity from monitor production to tablet and TV production, sources tell Digitimes. The report notes panel makers are both optimistic about a 2H pickup in TV demand (sales were weak in Q1), and pessimistic about the monitor market's growth potential. It could be further evidence (I, II) global PC demand is slumping.
    | Jun. 26, 2012, 2:34 PM | 1 Comment
  • Jun. 22, 2012, 11:39 AM
    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.
    | Jun. 22, 2012, 11:39 AM | 6 Comments
  • Jun. 21, 2012, 7:23 PM
    Global TV shipments fell nearly 8% Y/Y in Q1, estimates DisplaySearch, as firmer pricing hurt volumes, and consumers directed a greater chunk of their electronics spending at mobile devices. LCD shipments fell 3%, while plasma shipments tumbled 18%. Samsung (SSNLF.PK) claimed a 26% share of the market, and was followed by LG (14.6%) and Sony (SNE - 9.4%). Some key TV industry suppliers: GLW, AUO, LPL, STM, NXPI.
    | Jun. 21, 2012, 7:23 PM | Comment!
  • Jun. 18, 2012, 7:39 PM
    More on Microsoft Surface: The tablet features a 10.6" display, uses Corning's (GLW) Gorilla Glass, and comes with Office built-in. Microsoft has also developed a cover that doubles as a keyboard with touchpad, thereby allowing Surface to shift into PC mode. One version will be sold with an ARM-based (ARMH) processor, while a somewhat thicker/heavier version will feature an Intel (INTC) Core i5 processor and support existing Windows apps. (live blog)
    | Jun. 18, 2012, 7:39 PM | 66 Comments
  • Jun. 4, 2012, 9:50 AM
    Corning (GLW) introduces Willow Glass, a thin, bendable glass product that the company boasts could eventually enable displays that are "wrapped around a device or structure." If Willow Glass is widely adopted, it could provide a pricing and margin boost for Corning's display glass business, which is expected to see minimal growth going forward. Samsung, LG, and others are working on flexible LCD and OLED displays that could conceivably leverage Willow Glass.
    | Jun. 4, 2012, 9:50 AM | 5 Comments
  • May 8, 2012, 4:02 PM
    U.S. flat-panel TV prices continued their year-long surge in April, reports iSuppli: the price of the average set reached $1248, up 11.4% from December. Adoption of LED TVs and 3D TVs is contributing to the increase, but so are stabilizing LCD panel and glass prices, and an end to the brutal price war TV manufacturers such as Sony (SNE), Panasonic (PC), and Samsung (SSNLF.PK) were engaged in last year.
    | May 8, 2012, 4:02 PM | 2 Comments
  • May 8, 2012, 11:39 AM
    LCD panel vendor AU Optronics (AUO -4.5%) underperforms after reporting April sales fell 3.4% M/M and 8.5% Y/Y. Shipments of 10"+ panels fell 3.9% M/M, while shipments of sub-10" panels fell 17.4% - the latter is likely more evidence of weak orders from mobile device vendors other than Apple and Samsung. The report is arguably a modest negative for fellow panel vendor LG Display (LPL), and for LCD glassmaker Corning (GLW).
    | May 8, 2012, 11:39 AM | Comment!
  • May 3, 2012, 1:46 PM
    The next iPhone (AAPL) will feature a 4" display, and will be longer and thinner (but not wider) than the 4S, claims iLounge. In addition, the device, due this fall, is expected to feature Corning's (GLW) Gorilla Glass 2, and sport a smaller dock connector. (previous)
    | May 3, 2012, 1:46 PM | 30 Comments
  • Apr. 25, 2012, 11:08 AM
    Corning (GLW +5.8%) rallies after beating Q1 estimates and offering a relatively upbeat outlook for its pressured LCD glass business. Corning predicts glass price declines "will be much more moderate" in Q2 than in prior quarters, with volumes flat for Corning's internal glass ops and up slightly for Samsung Corning, which recently lost a major deal. In addition, the Specialty Materials business is expected to grow 10%-15% thanks to strong Gorilla Glass sales.
    | Apr. 25, 2012, 11:08 AM | 2 Comments
  • Apr. 25, 2012, 9:06 AM
    Premarket gainers: GEOI +21%. KND +17%. CDXS +9%. AAPL +9%. S +8%. TQNT +8%. JNY +6%. DAN +6%. RFMD +6%. GLW +5%. MOS +5%. ARMH +5%. MT +5%. BRCM +5%. NBR +4%. CLWR +4%. ALU +4%. FTNT +4%. STM +4%. POT +4%. HOG +4%. BBVA +4%. TS +3%. NOK +3%. STD +3%. TEF +3%. VMED +3%. IGT +3%.
    Losers: ICON -14%. BIDU -6%. GSK -3%.
    | Apr. 25, 2012, 9:06 AM | Comment!
  • Apr. 25, 2012, 7:32 AM
    Corning (GLW): Q1 EPS of $0.30 beats by $0.02. Revenue of $1.92B (+flat% Y/Y) beats by $50M. Shares +1.5% premarket. (PR)
    | Apr. 25, 2012, 7:32 AM | Comment!
  • Apr. 25, 2012, 12:05 AM
    Notable earnings before Wednesday's open: ABB, AN, ATI, BA, CAT, CNH, CS, CVE, DAL, DAN, DPS, ECA, ERIC, GD, GLW, GNC, GSK, HCBK, HES, HOG, HST, JNY, LCC, LLY, LO, MSI, MWV, NDAQ, NEE, NLSN, NOC, NOV, OC, PX, RES, ROK, S, SAP, SO, TEL, TMO, UMC, VMED, WLP, WYN
    | Apr. 25, 2012, 12:05 AM | Comment!
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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.