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Corning Inc. (GLW)

  • Apr. 24, 2012, 5:30 PM
    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. 24, 2012, 5:30 PM | Comment!
  • Apr. 10, 2012, 8:24 AM
    Corning (GLW) will acquire a majority of Becton Dickinson's (BDX) Discovery Labware unit for $730M in cash. Corning says the deal will enhance its portfolio of life sciences products and add to its effort to meet its $10B revenue target in the next few years. GLW +0.7%, BDX +0.7% premarket.
    | Apr. 10, 2012, 8:24 AM | 1 Comment
  • Apr. 3, 2012, 8:57 AM
    The surge in video streaming, demand for high-speed trading connections, and soaring mobile phone use have caused a boom in the fiber-optic sector. Around 19M miles of cables were installed in 2011, and Corning (GLW) sold record volumes. However, skeptics bring up the bust of the early 2000s and wonder if history is "repeating itself."
    | Apr. 3, 2012, 8:57 AM | 1 Comment
  • Mar. 28, 2012, 1:05 PM
    Corning (GLW -1.6%) is following the market lower in spite of analyst commentary (I, II) arguing Foxconn's (HNHAF.PK) investments in Sharp (SHCAY.PK) are a positive for the glassmaker, which handles over 60% of Sharp's display glass needs. In particular, Sharp's cutting-edge Sakai City LCD panel plant, which receives all of its glass from Corning, is expected to see higher utilization rates thanks to the deal.
    | Mar. 28, 2012, 1:05 PM | 2 Comments
  • Mar. 27, 2012, 5:45 PM
    As a greater chunk of consumer electronics spending goes to mobile devices, TVs are looking like a big casualty. Even with prices continuing to drop, IHS expects U.S. flat-panel TV shipments to fall 5% Y/Y in 2012 to 37.1M units - the first decline in the market's history. Moreover, sales are expected to keep falling over the next 3 years. The fact TV demand in developed nations may have peaked will have major implications for names such as GLW, AUO, LPL, and STM.
    | Mar. 27, 2012, 5:45 PM | 1 Comment
  • Mar. 13, 2012, 10:24 AM
    Himax Technologies (HIMX) and other LCD driver chip developers are seeing order visibility improve, thanks to rising demand ahead of new mobile device launches. Consider this another positive datapoint (previously) for LCD industry players such as AU Optronics (AUO), LG Display (LPL), and Corning (GLW), following a dismal 2011. Separately, AU says it will hire 2,500 engineers for its LCD and solar operations.
    | Mar. 13, 2012, 10:24 AM | 1 Comment
  • Mar. 8, 2012, 1:40 PM
    AU Optronics (AUO +2.1%) follows the tech sector higher after reporting February sales of $948M - up 29% M/M and 3% Y/Y, and further evidence of improving conditions for the LCD panel market. Strong shipment growth was seen for both large and small panels. Also rallying are rival LG Display (LPL +2.6%) and LCD glass supplier Corning (GLW +2.1% - previously).
    | Mar. 8, 2012, 1:40 PM | Comment!
  • Mar. 7, 2012, 4:48 PM
    Corning (GLW) edges higher AH after it's disclosed director Gordon Gund bought 150K shares on March 6 at $12.75. Gund last bought Corning shares in Nov. 2008.
    | Mar. 7, 2012, 4:48 PM | 5 Comments
  • Feb. 29, 2012, 2:37 PM
    Corning (GLW -2.2%) trades lower after Morgan Stanley reiterates an Underwight, noting downbeat remarks made by CFO James Flaws at a conference. Flaws mentioned his company's Samsung Corning JV (SCP) has chosen not to match a price cut from rival Nippon Electric, and has thus lost share at customer LG Display (LPL). As a result, SCP is now expected to see a "low-double-digit" shipment decline. (previously)
    | Feb. 29, 2012, 2:37 PM | 1 Comment
  • 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.
    | Feb. 27, 2012, 4:08 PM | Comment!
  • 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. 6, 2012, 10:13 AM | 2 Comments
  • 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.
    | Feb. 3, 2012, 9:35 AM | Comment!
  • 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.
    | Jan. 26, 2012, 9:55 AM | Comment!
  • 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.
    | Jan. 25, 2012, 6:05 PM | 1 Comment
  • 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, 10:26 AM | 14 Comments
  • 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%.
    | Jan. 25, 2012, 9:00 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.