GLW corning

[timurlang]

http://biz.yahoo.com/ap/070124/earns_corning.html?.v=4

ottimo quarto, con aspettative degli analisti battute di 28 cents per azione

il titolo ultimamente ha sofferto abbastanza sull'onda dei warnings per i techs

 

[timurlang]

grafichino di medio

 

[dumbsred]

Rally di Corning : +7.94% a $ 23,10

Migliorano le prospettive di GLW

http://biz.yahoo.com/ap/071113/apfn_corning_out_of_the_gate.html?.v=1

 

[dumbsred]

Rialzo tondo per GLW : +10% $23.54

Last Trade: 23.54
Trade Time: 4:00PM ET
Change: $ 2.14 (+10.00%)

http://www.thestreet.com/_yahoo/markets/marketstory/10389762_3.html

 

[dumbsred]

Corning prevede utili di 43 cents nel primo trimestre , mentre le previsioni precedenti parlavano di 35 cents
GLW non riesce a soddisfare tutta la domanda per i propri prodotti. Nessun segno di rallentamento in vista per l' attività di Corning.

http://www.businessweek.com/ap/financialnews/D8UEVPE80.htm

 

[averytrader]

Citigroup ha alzato oggi il suo rating su Corning da "Hold" a "Buy" ed il target sul prezzo da $11,25 a $16.
La banca d'affari si attende a partire dal secondo trimestre una ripresa della crescita delle vendite di pannelli LCD. In base a delle recenti indagini di mercato effettuate da Citigroup il mercato dei televisori LCD starebbe iniziando a riprendere vigore.

March 23, 2009 8:36 AM EDT

Citi upgrades Corning Incorporated (NYSE: GLW) from Hold to Buy and raises its price target from $11.25 to $16,
saying LCD glass production/sales have bottomed & should move sequentially higher.

Citi analyst says, "Our upgrade is based on three points: 1) LCD glass production/sales have bottomed & should move sequentially higher in 2Q; 2) Current glass demand now supported by restocking, but will see 2H09 hand-off to end market demand; 3) GLW should see production increase sequentially from 2Q09 through year-end, with strong positive impact on revenues, margins, EPS...We expect GLW shares will respond positively to the following catalysts/events: 1) Continued firm panel prices; 2) Follow-on strength in TW panel makers’ utilization rates; 3) Improving panel maker profitability (lower losses); 4) LCD TV penetration accelerates vs trend from add'l CRT capacity reductions & LCD price/value proposition resonates even more w/consumers; 5) GLW reports BMO on 29-Apr; we expect mgt to reiterate q/q LCD glass growth in Jun & continued LCD TV unit sales that we believe will be surprisingly healthy. Overall tone should be “cautiously optimistic”."


http://www.streetinsider.com/Upgrad...uy;+Finally+Time+to+Get+Positive/4504756.html

http://www.borsainside.com/mercati_usa/marzo_2009/20090323_gwl_citi.shtm

 

[averytrader]

Tue, 24 Mar 2009 12:08:06 GMT

Corning Incorporated (NYSE:GLW) announced today that it has sold more than 30 million kilometers of LEAF® optical fiber since introducing the product in 1998. As the backbone of many of the world’s most advanced long-haul networks, LEAF fiber is the most widely deployed non-zero dispersion-shifted fiber (NZ-DSF) in the world.

“LEAF fiber is a great example of Corning innovation and has been one of Corning’s most successful products, meeting customer needs over many years,” said Martin J. Curran, senior vice president and general manager, Corning Optical Fiber. “The performance of this fiber is proven by its operation in more than 100 carrier networks worldwide.”

Compared to other non-zero dispersion-shifted fibers, LEAF fiber, with its large effective area, allows higher levels of optical power to be transmitted while minimizing nonlinear impairments that can degrade transmission-system performance. This fiber has low chromatic dispersion, which simplifies dispersion compensation and lowers the cost of network installation and operation for long-haul carriers. In addition, this fiber has low-polarization-mode dispersion (PMD), which enables high-data-rate transmission. LEAF fiber continues to be the fiber of choice for new long-haul builds and upgrades to existing builds as it provides longer uncompensated reach, room for future upgrades, and optical specifications that can be leveraged to simplify and lower network costs.


http://www.earthtimes.org/articles/...ters-sold-to-worldwide-customers,759636.shtml

 

[averytrader]

March 25, 2009
09:00 EDT GLW theflyonthewall.com: Recommendations story about GLW from Collins Stewart
Collins Stewart raised their 2009 estimate for GLW to 62c from 51c and 2010 estimate to $1.00 from 92 to reflect improved demand trends for LCD glass. The firm maintains a Buy rating on the stock.
:theflyonthewall.com

 

[averytrader]

March 27, 2009 12:04 PM EDT

Buckingham Research maintains a 'Strong Buy' rating on Corning (NYSE: GLW). Price target increased from $15.50 to $18.

Buckingham analyst says, "Late last year the term “value trap” was common, as investors worried about cheap stocks like Corning getting cheaper. GLW stock has almost doubled from its low late last year, so many investors may feel they missed it and are now “trapped out”. We continue to believe this is an attractively valued long-term growth situation. Our valuation increase is justified by increased confidence in above consensus EPS, following two news items yesterday.

http://www.streetinsider.com/Analys...rning+(GLW);+Raises+Price+Target/4518126.html

 

[averytrader]

APRIL 6 (5), 2009

Corning, which supplies the glass for more than half of the LCD market, is riding the sharp run-up in the worldwide demand for flat-panel TVs.

...
That demand, coupled with sharply curtailed inventories of glass and glass panels used to make LCD TVs and monitors, is creating a nice reversal of fortune at the world's premier maker of specialty glass: Corning (ticker: GLW). The nearly 160-year-old company, which has a market value of about $24 billion, now expects to report a profit in the first quarter, excluding special items, compared with a previous break-even forecast for the quarter.

...
With business trends firmly on the upswing, expect a rapid acceleration in orders and profits at Corning in the second and third quarters, says Jeff Evenson, an analyst at Sanford C. Bernstein. Last week he raised his 2009 earnings estimate for Corning sharply higher, to 94 cents a share from 65 cents, versus $1.53 in 2008. His estimate for 2010 remains unchanged at $1.11 a share.

Longer term, and as economic recovery takes hold, Thornburg Investment Management portfolio manager Connor Browne sees Corning's earnings reaching a run rate of $1.50 a share annually. Attaching a normalized multiple of 15 to those earnings would value the stock at $22.50 a share, or 50% up from the current level of about $15.

At recent levels, Corning trades at a multiple of about 16 times Evenson's estimated earnings for 2009 and 13.7 times 2010 projections.

Be forewarned: Corning is up about 60% from the start of the year and has risen more than 100% from its Nov. 21 low of $7.36, so the shares likely will be susceptible to some profit-taking.

Bolstering the company's outlook are improving utilization trends at the set-assembly and panel-making companies in Asia. Taiwan's average factory utilization rates jumped to 40% in February, from a low of 20% in December. Rates in Korea came close to hitting 80% in February, from under 50% in December.

A report last week in Digitimes, which tracks developments in Taiwan's information-technology industry, noted that AU Optronics and Chi Mei Optoelectronics -- two important Corning customers -- are expanding their LCD panel capacity to meet demand driven by China's new subsidy program for consumer electronics in rural areas.

...
http://online.barrons.com/article/SB123880713385288961.html

 

[anto_ita777]

oiiiiiiiiiii

 

[maumal]

up

 

[Sal.Vi]

Glw.

$@!V€ A TUTTI e buon decennio.

Effettivamente la company necessiterebbe di attenzione.

GLW [ http://www.corning.com/ ] - One Riverfront Plaza, Corning NY 14831.
Corning Incorporated (Corning), incorporated in December 1936, is a global, technology-based company that operates in five business segments: Display Technologies, Telecommunications, Environmental Technologies, Specialty Materials and Life Sciences. Display Technologies segment manufactures glass substrates for use in liquid crystal flat panel displays. Telecommunications segment manufactures optical fiber and cable, and hardware and equipment components for the telecommunications industry. Environmental Technologies segment manufactures ceramic substrates and filters for automobile and diesel applications. Specialty Materials segment manufactures products that provide more than 150 material formulations for glass, glass ceramics and fluoride crystals to meet demand for customer needs. Life Sciences segment manufactures glass and plastic consumables for pharmaceutical and scientific applications. In August 2008, Corning completed the sale of its Steuben Glass Division to Steuben Glass LLC, an affiliate of Schottenstein Stores Corporation. In September 2009, the Company acquired all the interest in Axygen BioScience, Inc. and its subsidiaries from American Capital Ltd. In November 2009, Dow Corning, equally owned by The Dow Chemical Company and the Company, announced that it acquired 100% interest in Globe Metais Industria e Comercio S.A., a silicon metal manufacturer in Para, Brazil, and a 49% interest in Globe Metallurgical Inc.’s silicon manufacturing operation in Alloy, West Virginia (United States), WVA Manufacturing LLC.

Display Technologies

Corning’s Display Technologies segment manufactures glass substrates for active matrix liquid crystal displays (LCDs), that are used primarily in notebook computers, flat panel desktop monitors and LCD televisions. The Company’s facilities in Kentucky, Japan, Taiwan and China, and those of Samsung Corning Precision Glass Co., Ltd. (Samsung Corning Precision, which is 50% owned by Corning) in South Korea develop, manufacture and supply glass substrates using a fusion manufacturing process and technology. Samsung Electronics Co., Ltd. has a 43% interest in Samsung Corning Precision, which sells glass to LCD panel manufacturers in Korea. Panel manufacturers in the other LCD-producing areas of the world, Japan, Taiwan, Singapore and China, are supplied by Corning.

Corning markets large-generation sized glass substrates used by its customers in the production of larger LCDs for monitors and television. Glass substrates are available from Corning in sizes up to Generation 8 (2160 millimeter x 2460 millimeter). During the year ended December 31, 2008, approximately 92% of Corning and Samsung Corning Precision’s volume of LCD glass was Generation 5 (1100 millimeter x 1250 millimeter) and higher. In 2008, the Display Technologies segment represented 46% of Corning’s sales.

Telecommunications

The Telecommunications segment produces optical fiber and cable, and hardware and equipment products for the worldwide telecommunications industry. The Company offers a range of optical fiber technology products and enhancements for a variety of applications, including premises, fiber-to-the-premises access, metropolitan, long-haul and submarine networks. Corning makes and sells InfiniCor fibers for local area networks, data centers and central offices; NexCor fiber for converged services networks; SMF-28e single mode optical fiber that provides additional transmission wavelengths in metropolitan and access networks; MetroCor fiber products for metropolitan networks; LEAF optical fiber for long-haul, regional and metropolitan networks; ClearCurve fiber for use in multiple dwelling units, and Vascade submarine optical fibers for use in submarine networks. It has two optical fiber manufacturing facilities in North Carolina and another facility in China. A significant portion of Corning’s optical fiber is sold to subsidiaries, such as Corning Cable Systems LLC (Corning Cable Systems) and Corning Cable Systems Polska Sp. Z o.o.

The Company’s cabling operations include facilities in North Carolina, Poland and Germany, and smaller regional locations and equity affiliates. Its hardware and equipment products include cable assemblies, fiber optic hardware, fiber optic connectors, optical components and couplers, closures and pedestals, splice and test equipment and other accessories for optical connectivity. For copper connectivity, Corning’s products include subscriber demarcation, connection and protection devices, xDSL (different variations of digital subscriber lines (DSL)) passive solutions and outside plant enclosures. In addition, Corning offers products for the cable television industry, including coaxial connectors and associated tools. In 2008, the Telecommunications segment represented 30% of Corning’s sales.

Environmental Technologies

Corning’s environmental products include ceramic technologies and solutions for emissions and pollution control in mobile and stationary applications around the world, including gasoline and diesel substrate and filter products. Corning manufactures these products in New York, Virginia, China, Germany and South Africa. The Company sells its ceramic substrate and filter products worldwide to manufacturers of emission control systems who then sell to automotive and diesel engine manufacturers. In 2008, the Environmental Technologies segment represented 12% of Corning’s sales.

Specialty Materials

The Specialty Materials segment manufactures products that provide more than 150 material formulations for glass, glass ceramics and fluoride crystals to meet demand for customer needs. This segment operates in a variety of commercial and industrial markets that include display optics and components, semiconductor optics components, aerospace and defense, astronomy, ophthalmic products, telecommunications components and optical quality glass that are optimized for high-end portable devices and touch screens. Semiconductor optics manufactured by Corning includes high-performance optical material products, optical-based metrology instruments, and optical assemblies for applications in the global semiconductor industry. Corning’s semiconductor optics products are manufactured in New York. Other specialty glass products include glass lens and window components and assemblies and are made in New York, Virginia, and France or sourced from China. The Specialty Materials segment represented approximately 6% of Corning’s sales for 2008.

Life Sciences

Life Sciences laboratory products include microplate products, coated slides, filter plates for genomics sample preparation, plastic cell culture dishes, flasks, cryogenic vials, roller bottles, mass cell culture products, liquid handling instruments, Pyrex glass beakers, pipettors, serological pipettes, centrifuge tubes and laboratory filtration products. It sells products under three primary brands: Corning, Costar and Pyrex. The Company manufactures these products in Maine, New York, and Mexico and markets them worldwide, primarily through distributors, to government entities, pharmaceutical and biotechnology companies, hospitals, universities and other research facilities. Its Epic system, a high-throughput, label-free screening platform based on optical biosensor technology, offers drug developers the ability to evaluate new drug targets through both biochemical and cell-based drug discovery applications. In 2008, the Life Sciences segment represented approximately 6% of Corning’s sales.

The Company competes with Asahi Glass, Nippon Electric Glass, Avan Strate, Inc., Furukawa Electric/OFS, Fujikura Ltd., Sumitomo Electric, Prysmian Cables & Systems, Draka Comteq, NGK, Denso, Ibiden, Emitec, Schott, Shin-Etsu Quartz Products, Carl Zeiss, Nikon, Transitions Optical, Oerlikon, Hoya, Heraeus, Kimble, Greiner and Becton Dickinson.

http://finance.yahoo.com/q?s=glw






New FOL Order - http://www.finanzaonline.com/forum/showpost.php?p=24105781&postcount=38 - http://www.finanzaonline.com/forum/showpost.php?p=24105866&postcount=39

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Disclaimer manthra: http://www.finanzaonline.com/forum/showpost.php?p=23548136&postcount=66
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New F.o.L. Order: http://www.finanzaonline.com/forum/showpost.php?p=24105781&postcount=38 - http://www.finanzaonline.com/forum/showpost.php?p=24105866&postcount=39
.

up

 

[maumal]

CORNING, N.Y. -- A year after the company cut 3,500 jobs worldwide, Corning Incorporated officials say their earnings reflect a good 2009 for the company. Corning ended 2009 with its most profitable quarter of the year.

Although the year's sales were down from 2008, the company beat its expectations of $5 billion in sales with $5.4 billion.

The year started off slow and the company responded with job reductions, manufacturing slow downs and other cost cutting measures to improve throughout the remaining quarters.

Company officials say improvement in product sales in the second half of 2009 also helped them end the year strong.

"We expect all of our businesses with the exception of telecommunications business to actually grow in 2010. So we think 2010 will be, should show a modest improvement over 2009 which showed a significant improvement over the second half of 2008," said Daniel Collins.

Collins says the company doesn't know if business growth will mean more jobs this year. He says several hundred local workers were called back because of increased demand in the environmental technologies business in the second half of 2009.



Corning Incorporated, the maker of liquid-crystal-display glass reported fourth quarter sales rose 41.6% to $1.53 billion from $1.08 billion a year ago. Net income in the quarter rose 197% to $740 million or 47 cents per diluted share compared to net income of $249 million or 16 cents per share a year ago

 

[maumal]

Corning Incorporated (GLW)

Q4 2009 Earnings Call

January 26, 2010 8:30 am ET

Executives

Wendell Weeks – CEO

James Flaws – CFO

Ken Sofio – VP IR

Analysts

Mark Sue - RBC Capital Markets

Brian White – Ticonderoga

Simona Jankowski - Goldman Sachs

Steven Fox - CLSA

Jim Suva - Citigroup

CJ Muse – Barclays Capital

Jeff Evanson - Sanford Bernstein

Carter Shoop - Deutsche Bank

Nikos Theodosopoulos - UBS

Brendan Furlong - Miller Tabak

George Notter – Jefferies & Company

John Roberts - Buckingham Research

Yair Reiner - Oppenheimer

Paul Bonenfant – Morgan Keegan

Ajit Pai - Thomas Weisel Partners

Wamsi Mohan – B of A Merrill Lynch

Presentation

Operator

Welcome to the Corning Incorporated fourth quarter results conference call. (Operator Instructions) With that being said, I'll turn the conference over to the Division Vice President of Investor Relations, Mr. Ken Sofio. Please go ahead, sir.

Ken Sofio

Good morning. Welcome to Corning's fourth quarter conference call. James Flaws, Vice Chairman, and Chief Financial Officer will lead the discussion. Wendell Weeks, our Chairman and CEO, will join for the Q&A.

Today's remarks do contain forward-looking statements under the Private Securities Litigation Reform Act of 1995. These statements involve a number of risks, uncertainties and other factors that could cause our results to differ materially. These risks are detailed in our SEC reports.

James Flaws

Thanks Ken, good morning everyone. This morning we released our results for the fourth quarter which can be found on our Investor Relations website. We have posted accompanying slides on line as well.

In summary we’re very pleased with our fourth quarter results. Before I get into the details I want to walk you through the key points we’ll be covering this morning. First, our fourth quarter sales, gross margin, and profitability were all higher than the third quarter.

A stronger Yen helped but we also benefited from higher volumes in Display and Environmental. In fact, Q4 was our most profitable quarter all year. In addition equity earnings and free cash flow were both all time records for the company.

Second, based on our models we believe the LCD supply chain inventories at the end of the fourth quarter are in good shape heading into Q1. Third, retail sales of LCD televisions remained strong worldwide throughout the fourth quarter.

Based on the strength of Q4 glass demand we believe the 2009 glass market reached 2.4 billion square feet versus our most recent estimate of 2.3 billion square feet. Demand was driven was by LCD television sales which were also stronger than we had forecasted.

We now estimate the total number of LCD TVs sold in 2009 was 141 million versus our most recent estimate of 132 million. Lastly, looking ahead to the first quarter we expect glass volume at our wholly owned business to be up between 8% to 12% sequentially.

SCP glass volume will be flat to up slightly quarter to quarter. In total we expect the glass market to be up in Q1 versus our original expectations of slightly lower seasonal demand. We believe the supply chain will need to expand in the first quarter, backfill for the stronger Q1 demand and to support a much larger end market this year.

We’re still finalizing our end market and glass market forecasts for 2010 but they will both likely be higher than our previous estimates. We’ll discuss both and our thoughts about Q2 at the Investor Meeting next week.

So let’s turn to the details, fourth quarter sales were $1.53 billion, a 4% increase from the third quarter. Our Q4 sales benefited by changes in the exchange rates by about $33 million. Moving down the income statement gross margin was 42.4% in Q4 compared to 40.5% in Q3. We were very pleased with our gross margin performance in the quarter.

Part of the improvement was the result of better manufacturing and higher volumes in our Environmental business. Gross margin also benefited from the non-repeat of $22 million in one-time accelerated depreciation charges taken in the third quarter due to Shizouka’s earthquake. We did have one-time charges in Q4 from the Taichung power outage, but they were much less.

SG&A was $244 million or 16% of sales in Q4 as expected. R&D was $145 million in Q4 or about 9% of sales. Other income was $64 million in Q4 compared to $48 million in Q3. Equity earnings were $461 million in the fourth quarter compared to $418 million in Q3. Equity earnings included a special item totaling $29 million related primarily to a tax valuation gain at Dow Corning.

Our Q4 tax rate was 5% and consistent with the last quarter but higher than we had expected. The primary reason it was higher is actually a good thing, we made more money in the United States than we thought we would during the quarter.

Net income excluding special items was $696 million in Q4 compared to $654 million in Q3. About $40 million of the increase was due to favorable exchange rates. EPS excluding special items was $0.44 compared to $0.42 in Q3.

You should note that EPS and net income excluding special items are non-GAAP measures. The reconciliation to GAAP can be found on our website. Our GAAP net income includes $44 million of special items. Including these special items, our Q4 EPS was $0.47.

 

[asqueldaz]

Monday, 08 February 2010 12:21

Corning Incorporated (NYSE:GLW) was upgraded by Barclays Capital with a price target up to 23.
...


http://www.economy-news.co.uk/pepsico-inc-corning-inc-0802.html

 

[Marco*]

Corning (GLW) Gets A Positive 4 STARs Buy Rating From S&P
Posted: Tuesday, August 31, 2010 9:27 AM EDT

Corning (NYSE: GLW) closed yesterday at $15.95. So far the stock has hit a 52-week low of $14.14 and 52-week high of $21.10. Corning stock has been showing support around 15.74 and resistance in the 16.34 range. Technical indicators for the stock are Bearish and S&P gives GLW a positive 4 STAR (out of 5) buy rating. GLW appears on the Investors Observer Volume Leaders list. For a hedged play on this stock, look at a Jan '11 15 covered call for a net debit in the $13.88 area. That is also the break even stock price for this trade. This covered call has a 144 day duration, provides 12.98% downside protection and an 8.07% assigned return rate for a 20.45% annualized return rate (comparison purposes only). A lower cost hedged play for this stock would use a longer term call option in place of the covered call stock purchase. To use this strategy look at going long the GLW Jan '12 5 Call and selling the Jan '11 15 call for a $9.13 debit. The trade has a 144 day life and would provide 11.41% downside protection and a 9.53% assigned return rate for a 24.00% annualized return rate (for comparison purposes only). Corning has a current annual dividend yield of 1.26%. [ATU-Seven Summits Research]

 

[Sal.Vi]

Glw.

$@!V€ A TUTTI. Some charts

 

[asqueldaz]

November 1, 2010, 10:03 AM ET

Corning (GLW) this morning posted Q3 revenue of $1.60 billion and adjusted EPS of 51 cents a share, a bit below the Street consensus of $1.61 billion and 52 cents. But the stock nonetheless is trading higher this morning.

CEO Wendell Weeks said in a statement that “nearly all” of its businesses had a strong quarter, adding that “global retail demand for LCD products continued to show year-over-year growth in all markets other than televisions in the U.S.”

CFO James Flaws noted that in a statement that the company has seen a modest increase in utilization rates in October by Taiwanese panel makers. He adds that the company expects utilization rates will remain modestly higher the remainder of the fourth quarter compared with a “much weaker” September.

Corning expects worldwide glass market demand could be flat to down slightly quarter to quarter in Q4. The company expects combined volumes of both its wholly owned business and its Samsung Corning venture to be in line with the market. Flaws expects pricing to be down in the mid-single-digit range, reflecting “pricing pressure caused by the current imbalance of glass supply and demand.”

The company also reduced its 2010 capital spending forecast to $1 billion from $1.2 billion. Corning also said it expects to repatriate $1.1 billion in cash from non-U.S. locations in the fourth quarter.

Corning added that it has decided to discontinue development and commercialization of synthetic green lasers.

GLW is up
....

Corning Q3 Revs, EPS Slightly Light, But Shares Trading Higher - Tech Trader Daily - Barrons.com)

 

[asqueldaz]

November 08, 2010 11:12 AM

Sterne Agee has published its written report on Corning Incorporated (NYSE: GLW) this morning and reiterates its Buy rating and price target.

Sterne Agee states, "Reiterating our Buy and $24 PT on Corning, as we believe inventories on the Monitor-Notebook side are getting rationalized and with significant Black Friday promotions the TV Panel and hence glass shipment outlook will stabilize."

Some of the risks to the investment thesis and price target that Sterne Agee states are, "Corning faces pricing pressure in each of its leading businesses as a result of intense competition, emerging new technologies, or overcapacity. While the company plans to work toward reducing its costs to offset pricing pressures, it may not be able to achieve proportionate reductions in costs or to sustain its current rate of cost reduction."



Read more: Sterne Agee Reiterates Buy on Corning Incorporated | Benzinga.com

Sterne Agee Reiterates Buy on Corning Incorporated | Benzinga.com