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Corning Inc. (GLW)

- NYSE
  • Oct. 23, 2012, 5:30 PM
    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
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  • Oct. 3, 2012, 12:51 PM
    Corning (GLW) declares $0.09/share quarterly dividend, 20% increase from prior dividend of $0.075. Forward yield 2.72%. For shareholders of record Nov 16. Payable Dec 14. Ex-div date Nov 14. (PR)
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  • Sep. 19, 2012, 9:32 AM
    Corning (GLW +2.9%) opens higher on an upgrade to Buy from Goldman. The firm sees Corning, which trades below book value, delivering positive EPS growth (on a Y/Y basis) for the first time in two years in Q4 thanks to stabilizing LCD glass fundamentals (the result of supply controls). It also expects the LCD business' share of net income to fall to 74% in 2013 from 96% in '09, and Corning''s FCF yield to grow to 6%. The demand environment for LCD TVs has been anything but pretty. (previous)
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  • Sep. 11, 2012, 2:27 PM
    As consumer electronics spending shifts to mobile devices, the TV market is looking just as ugly as the PC market. DisplaySearch estimates global Q2 unit shipments fell 8% Y/Y in Q2, the same as Q1. Top vendor Samsung's (SSNLF.PK) TV revenues rose 18% Y/Y, boosting its share to 28.5%. But #3 Sony's (SNE) fell 33%, hurt by the Japanese market's brutal 77% shipment drop. Some companies with TV industry exposure: GLW, STM, NXPI, SIGM, AUO, LPL.
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  • Sep. 10, 2012, 2:38 PM
    Positive comments from Piper Jaffray are helping GT Advanced Technologies (GTAT +8.5%) shoot higher today. Piper thinks sapphire panels manufactured using GT's equipment could carry a price premium relative to Corning's (GLW) Gorilla Glass in mobile device applications. GT has been struggling to cope with weak demand from its core LED and solar equipment markets.
    | 4 Comments
  • Aug. 31, 2012, 8:16 AM
    Corning (GLW) is upgraded to Outperform with a $16 price target by Oppenheimer's Andrew Uerkwitz, who says a day spent at company HQ has "(given) us confidence in our new found view." Catalysts: Moderating display glass prices as volumes rebound, favorable dynamics in other segments, and a potential dividend increase. Shares +3.3% premarket.
    | 1 Comment
  • Aug. 30, 2012, 1:47 PM
    IFA 2012 is producing a deluge of Windows 8/RT (MSFT) tablets. Notables include Dell's (DELL) XPS 10 tablet and XPS 12  onvertible; new tablet and ultrabook models for H-P's (HPQ) high-end ENVY line; and Toshiba's U925t ultrabook, which sports a slide-out display and Corning (GLW) Gorilla Glass. Between these products and Microsoft Surface, Windows 8 won't lack for quality hardware - its success will come down to the consumer/business response to its much-debated software. (Samsung) (Lenovo)
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  • Aug. 6, 2012, 1:57 PM
    It's not just Sharp (SHCAY.PK) that's feeling the pain caused by a weak TV market: Sony (SNE), Samsung (SSNLF.PK), Panasonic (PC), and LG have all significantly lowered their 2012 sales targets. Sony's target has dropped by 4M to 15.5M, and Samsung's by 10M to 40M. The ripple effects are already being felt by everyone from panel makers (AUO, LPL) to component suppliers (GLW, NXPI, STM) to retailers (HGG, BBY, CONN).
    | 4 Comments
  • Jul. 25, 2012, 6:21 PM
    Corning (GLW -7.7%) opened down just slightly after reporting this morning, but ended up plunging to 3-year lows. Q2's 16% Y/Y drop in display glass sales more than offset modest increases elsewhere, and stoked fears that there's no bottom in sight for the market, given weak LCD TV demand. During its earnings call, Corning noted macro issues are affecting multiple businesses, and that it's seeing "mixed performance" in China, where it's about to build a new plant. AUO -7.6%. LPL -4.1%.
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  • Jul. 25, 2012, 7:54 AM
    More on Corning (GLW +0.25%) Q2: net profit dives 39% to $462M, hurt by a fall in prices for its LCD screens - albeit more moderate declines - and the unsettled global economy. CEO Wendell Weeks says Europe and China are concerns. For Q3, expects LCD glass volume to grow in "the low double digits" Q/Q. Glass price declines should remain moderate. (PR)
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  • Jul. 25, 2012, 7:15 AM
    Corning (GLW): Q2 EPS of $0.31 in-line. Revenue of $1.91B (-5% Y/Y) misses by $0.11B. (PR)
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  • Jul. 25, 2012, 12:05 AM
    Notable earnings before Wednesday’s open: ALXN, AOL, ARMH, ATI, BA, BMY, CAT, CBE, COP, CP, CVE, DAL, DLR, DRH, ECA, ELN, F, GD, GLW, HCBK, HES, JBLU, LCC, LLY, LO, LVLT, MSI, MT, NDAQ, NLSN, NOC, NYB, OCR, PDS, PEP, PX, REGN, ROK, SO, SWI, TEL, TMO, TROW, UMC, USG, WLP, WYN
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  • Jul. 24, 2012, 5:30 PM
    Notable earnings before Wednesday’s open: ALXN, AOL, ARMH, ATI, BA, BMY, CAT, CBE, COP, CP, CVE, DAL, DLR, DRH, ECA, ELN, F, GD, GLW, HCBK, HES, JBLU, LCC, LLY, LO, LVLT, MSI, MT, NDAQ, NLSN, NOC, NYB, OCR, PDS, PEP, PX, REGN, ROK, SO, SWI, TEL, TMO, TROW, UMC, USG, WLP, WYN
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  • 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)
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  • 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)
    | 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.
    | 3 Comments
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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.