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Corning Inc. (GLW)

  • 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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  • Dec. 13, 2011, 10:49 AM
    Though DisplaySearch forecasts a major growth slowdown in 2012 for "cover glass" products such as Corning's (GLW) Gorilla Glass, DigiTimes' sources see new touchscreen applications such as advertising windows and vending machines giving demand a lift. It's added that LCD panel makers are already upgrading their plants to support such applications.
  • Dec. 2, 2011, 11:52 AM
    Corning's (GLW) Q4 warning was partly attributed to weak Gorilla Glass shipments, and some DisplaySearch data helps explain the industry trends likely playing a role. Though the firm estimates shipments of "cover glass," of which Gorilla Glass is the most popular kind, will rise 178% Y/Y in 2011, it sees growth falling to just ~25% in 2012, as the pace of its adoption in the mobile device market slows down.
  • Nov. 30, 2011, 12:28 PM
    Corning (GLW +0.2%) shares continue to lag following yesterday's cut in the company's Q4 glass production outlook. CLSA Avi Silver cuts its rating on the stock, asserting that even after Corning cuts production and supplies of glass are drawn down, the glass pricing environment will continue to deteriorate and supply chain issues will persist.
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  • Nov. 29, 2011, 2:02 PM
    Davenport’s Drake Johnstone, with egg on his face after raising his rating on Corning (GLW -13%) shares a day before the company’s warning of lower-than-expected glass sales, scrambles to its defense, reiterating his Buy call and asserting that "panel maker demand for Corning’s glass substrates should improve in the first half of 2012." (also)
  • Nov. 29, 2011, 11:19 AM
    Corning's (GLW -10.9%) Q4 warning, which it partly attributes to lower demand for its high-margin Gorilla Glass from the tablet market, may reveal it to be the latest casualty of the iPad's (AAPL) high-end tablet dominance. Corning's list of Gorilla Glass tablets includes models from Samsung, Motorola, Acer, and others. NVDA and ATML are two other key suppliers for high-end iPad challengers.
  • Nov. 29, 2011, 9:32 AM
    Corning (GLW) -9.1% after issuing downward guidance on Q4 LCD glass volume, now expected to rise only slightly sequentially vs. previous guidance of 10%-plus growth. Also, LCD glass price declines are expected to be more significant in Q4. As a result, consolidated equity earnings are expected to decline 30% vs. original guidance of down 5%.
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  • Nov. 28, 2011, 3:03 PM
    Corning (GLW +5.9%) is upped to Buy from Neutral at Davenport, writing that the company’s glass sales could rise on double-digit growth in global LCD TV units. While LCD TVs apparently were flying off U.S. shelves this past weekend, the big story is in China, where LCD sales may grow 15% this year, and in emerging Latin American and Asian countries who may collectively see a 42% Y/Y gain.
  • Nov. 14, 2011, 9:00 AM
    Premarket gainers: GCVRZ +18%. CPST +6%. BA +3%. VVUS +3%. GLW +3%.
    Losers: CTRP -12%. AEG -3%. NOK -3%. ARMH -3%. GGB -3%.
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  • Nov. 13, 2011, 8:35 PM
    Barron's gives a plug for Corning (GLW) over the weekend, noting the LCD glassmaker trades for little more than book value, and insiders are buying shares. It's also declaring Vodafone (VOD) a buy on account of its emerging-markets exposure, high dividend yield (6.7%), and 45% stake in Verizon Wireless (VZ), among other factors.
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  • Nov. 12, 2011, 4:23 PM
    Barron's Sandra Ward takes a shine to Corning (GLW), noting its "stunningly low" multiple of 7.9x, and a share price that barely eclipses its book value. TV inventories are at historic lows, so a successful holiday season could result in some hefty orders.
  • Nov. 10, 2011, 3:53 PM
    After stabilizing a little from April to July, prices for large-sized LCD panels (primarily used in TV sets) fell sharply again in August and September, according to IHS iSuppli. Weak TV demand in the West is once again the culprit, and it's leading panel suppliers such as AUO and LPL to offer "very aggressive prices" for the holiday season. (also)
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  • Oct. 26, 2011, 9:12 AM
    Corning (GLW) is now up 4.3% premarket after beating Q3 estimates. Though the company is guiding for Q4 EPS to be down ~5% Q/Q, the Street appears to have discounted a larger drop. Investors also seem to like the company's forecast that retail demand for LCD glass will be up 13% in 2011, in spite of broad concerns about weak LCD TV demand.
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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.