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Corning Inc. (GLW)

- NYSE
  • Jan. 29, 2013, 7:19 AM
    Corning (GLW): Q4 EPS of $0.34 beats by $0.01. Revenue of $2.15B beats by $0.08B.
    | 1 Comment
  • Jan. 29, 2013, 12:05 AM
    Notable earnings before Tuesday’s open: AKS, ARLP, ASH, BSX, BTU, CIT, CP, DHI, EDU, EMC, F, GLW, GNTX, HOG, HRS, HW, IP, ITW, JBLU, KLIC, LLY, LXK, NEE, NUE, PFE, PHG, PII, PNR, TROW, TUP, TYC, VLO, WRB, X
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  • Jan. 28, 2013, 5:30 PM
    Notable earnings before Tuesday’s open: AKS, ARLP, ASH, BSX, BTU, CIT, CP, DHI, EDU, EMC, F, GLW, GNTX, HOG, HRS, HW, IP, ITW, JBLU, KLIC, LLY, LXK, NEE, NUE, PFE, PHG, PII, PNR, TROW, TUP, TYC, VLO, WRB, X
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  • Jan. 11, 2013, 11:01 AM
    Corning (GLW -3.5%) heads south following a downgrade to Neutral from Goldman. The firm argues the catalysts that drove its September upgrade - improving LCD industry fundamentals and capital allocation moves - are mostly played out in the wake of Corning's Q3 beat and Q4 pre-announcement. Moreover, it sees forex and a Q1 LCD inventory correction producing downside to estimates. Corning closed yesterday right around where it was when Goldman made its upgrade.
    | 7 Comments
  • Jan. 8, 2013, 6:15 PM
    Goldman Sachs' 23 best stocks for fat dividends and big buybacks: AIZ, UFS, VR, CCE, WYN, HFC, LOW, AMP, MPC, NSC, AXS, FITB, AMAT, PFE, JPM, DELL, RSG, PRU, BLK, CSX, GLW, TRV, CMCSA.
    | 17 Comments
  • Jan. 3, 2013, 5:45 PM
    Less than a year after commencing shipments of Gorilla Glass 2, Corning (GLW) is set to unveil its successor at CES. The company boasts Gorilla Glass 3 will offer a 3x improvement in scratch resistance and a 40% decrease in visible scratches relative to its predecessor, as well as 50% more retained strength once the glass becomes flawed. Corning needs ongoing glass innovations to both stay ahead of rivals such as Dragontrail glass vendor Asahi, and to bolster its margins and ASPs at a time when industry volume growth is soft.
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  • Dec. 13, 2012, 1:42 PM
    AU Optronics (AUO +7.9%) is posting huge gains, apparently thanks to favorable comments from rival LCD supplier Chimei Innolux. Chimei says it expects 2013 sales to rise 10%, welcome news for an industry hit hard in 2012 by slumping TV demand. AU's gains come in spite of a Digitimes report claiming the company's capacity will drop 7% this month due to a "high voltage circuit drop" at a Taiwanese facility. LCD glassmaker Corning (GLW +0.7%) is outperforming, but LG Display (LPL -1.6%) isn't.
    | 3 Comments
  • Dec. 4, 2012, 12:20 PM
    Windows (MSFT) notebook unit sales fell 10% Y/Y on Black Friday, claims NPD, which recently estimated a 24% Y/Y drop for the first month of Windows 8 sales. Windows 8 gear made up 89% of notebook sales and sported an ASP of just $368; touchscreen devices made up only 3% of sales. Mac (AAPL) sales were flat Y/Y while Android (GOOG) tablets saw a 177% increase, though their ASP plunged to $151 from $219 (no doubt thanks to the Kindle Fire/Nexus 7). TV units rose 4%, but revenue fell 6% thanks to falling ASPs. Total consumer electronics sales fell 5.6%.
    | 16 Comments
  • Nov. 27, 2012, 9:10 AM
    Premarket gainers: ACAD +190%. RAH +27%. CDTI +25%. GLW +8%. VICL +7%. CROX +7%. CAG +5%. GNRC +5%.
    Losers: NBG -13%. MMR -11%. FRO -6%.
    | 1 Comment
  • Nov. 27, 2012, 8:23 AM
    Corning (GLW) +8% after raising its guidance ahead of a conference presentation. Thanks to better-than-expected demand for LCD TVs and other electronics, Corning now expects its Q4 LCD glass volume to be "up in the mid-single digits" Q/Q, after previously guiding for volume to be flat to down slightly. Corning's Q4 pricing guidance is reaffirmed, but it thinks price declines will moderate in Q1. Also, Q4 Specialty Materials sales are now expected to rise 5% Q/Q (prior guidance was for flat growth) thanks to strong Gorilla Glass sales.
    | 3 Comments
  • Nov. 14, 2012, 1:44 PM
    Samsung (SSNLF.PK) promises its flexible OLED displays, which can enable bendable gadgets, will enter production in 1H13. However, there's no still no date set for when the first products featuring flexible OLEDs will arrive. They can't come soon enough for OLED tech provider Universal Display (PANL), clobbered last week due to Samsung's decision to hold off on ramping the use of green host materials. Corning (GLW), whose Willow Glass supports flexible displays, could also benefit.
    | 3 Comments
  • Oct. 26, 2012, 5:10 PM
    Corning (GLW -2.2%) has joined the corporate debt refinancing party. Using a $250M offering of 1.45% senior notes due Nov. '17, the glassmaker has made a tender offer to buy back $75M in 6.75% and 8.875% notes, and plans to spend $174M to redeem 5.9% and 6.2% notes. Corning had $3.4B in debt as of Sep. 30.
    | 4 Comments
  • Oct. 24, 2012, 10:55 AM
    Corning (GLW -8.4%) plummets after guiding in its Q3 report for Q4 glass volumes to be flat to down by "a low-single digit percentage" Q/Q, with accelerating price declines taking place along the way. During its earnings call, Corning also noted its gross margin will decline in Q4, and that its telecom glass business (hurt by a weak capex environment) won't meet its 2012 growth target. The company says it has "no plans" to boost LCD glass capacity.
    | 20 Comments
  • Oct. 24, 2012, 7:38 AM
    More on Corning (GLW) Q3 earnings: "The weakening economy is affecting sales in many of our businesses ... We believe these economic headwinds will persist to next year ... We are likely to implement selected cost reductions." Price declines in the display business in Q4 are expected to outpace those in the previous 2 Qs. Shares -1.5% premarket. Earnings call is at 8:30 ET. (PR)
    | 3 Comments
  • Oct. 24, 2012, 7:18 AM
    Corning (GLW): Q3 EPS of $0.34 beats by $0.02. Revenue of $2.04B (-2% Y/Y) in-line. (PR)
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  • Oct. 24, 2012, 12:05 AM
    Notable earnings before Wednesday’s open: AEP, ALXN, ATI, BA, BMY, CP, DAL, DPS, DTE, EAT, ECA, ELN, EMC, GD, GLW, HCBK, IACI, KMB, LCC, LL, LLY, LMT, LO, LVLT, MSI, NDAQ, NEE, NOC, NYB, OC, PVR, PX, RCI, REGN, RES, SAP, T, TMO, TROW, WYN
    | 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.