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Corning Inc. (GLW)

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  • 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.
    | 1 Comment
  • 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)
    | 2 Comments
  • 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.
    | 7 Comments
  • 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.
    | 3 Comments
  • 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.
    | 1 Comment
  • 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.
    | 7 Comments
  • 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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  • Oct. 26, 2011, 9:00 AM
    Premarket gainers: LNG +65%. CLWR +23%. ONXX +16%. RTK +11%. BIIB +9%. FSLR +9%. VLO +8%. MF +6%. RFMD +5%. GLW 9+4 RCL +4%. BA +4%. FCX +3%. ARMH +3%. CPST +3%. NOK +3%. DB +3%.
    Losers: HGSI -12%. AMZN -11%. RSH -9%. CHRW -6%. YRCW -5%. MET -4%. BRCM -3%. FTNT -3%.
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  • Oct. 26, 2011, 7:13 AM
    Corning (GLW): Q3 EPS of $0.48 beats by $0.06. Revenue of $2.1B beats by $0.10B. Shares +1.3% premarket. (PR)
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  • Oct. 26, 2011, 12:05 AM
    Notable earnings before Wednesday's open: ADP, AEP, AGN, ARW, ATI, AVY, BA, BEAV, COP, CPX, DPS, EAT, EXC, F, GD, GLW, HBI, HCBK, HES, HSP, JBLU, JNY, LMT, MHS, MWV, MYL, NDAQ, NOC, OC, PLD, PX, RES, S, SAP, SEE, SO, TMO, UMC, WLP, WYN
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  • Oct. 20, 2011, 8:19 AM
    Sources tell DigiTimes iPhone component suppliers could see their sales decline in Q4 "due to a high base" in Q3, in spite of Apple's (AAPL) Q3 iPhone shortfall and strong early iPhone 4S sales. Supplier CRUS is down 13.6% premarket after providing soft guidance. Other suppliers of note: QCOM, BRCM, OVTI, GLW, TQNT, SWKS, AVGO.
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  • Oct. 18, 2011, 6:08 PM
    Several iPhone component suppliers are taking a hit following Apple's (AAPL) FQ4 report, in which iPhone shipments came in below Street forecasts. BRCM -1.7%. QCOM -1.9%. TQNT -4.1%. CRUS -4.2%. GLW -1.2%. OVTI -1.2%. Some other wireless industry players are also selling off: SNDK -1.2%. GOOG -0.8%. S -2.1%. (more)
    | 1 Comment
  • Oct. 11, 2011, 9:58 AM
    DisplaySearch now expects 2011 global TV shipments to be flat Y/Y, at 248M units, thanks to declining sales in developed nations. Perhaps more troubling, from the perspective of industry suppliers such as GLW, AUO, LPL, and NXPI, is its forecast of minimal growth in flat-panel shipments from 2011-2014, compared with 25%+ annual growth from 2004-2010. (Q2 data)
    | 1 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.