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Stock Market & Financial Investment News

News Breaks
November 27, 2012
08:04 EDTGLWCorning sees Q4 Specialty Materials sales up about 5% over Q3
Specialty Materials segment year-over-year sales, driven by the strength of Gorilla Glass, are expected to be up approximately 60% this quarter. Tripeny will point out that the company does not foresee any changes in its previously forecasted fourth-quarter performance for the Telecommunications or Environmental Technologies businesses. Corning’s Life Sciences business should see a more than 15% sequential increase in revenue due to the completion of the Discovery Labware acquisition during the quarter. In addition, Corning now expects its equity earnings from Dow Corning Corporation will be down about 20% sequentially, the result of further weakening of demand for solar-grade polysilicon. Tripeny also will point out that improved volumes for LCD glass and Gorilla Glass will offset seasonal declines in Corning’s other businesses and should keep the company’s fourth-quarter gross margin percent at a level consistent with the previous quarter.
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July 29, 2014
10:12 EDTGLWCorning falls after results, levels to watch
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09:11 EDTGLWCorning says Gorilla Glass demand weakness is timing-based
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08:54 EDTGLWCorning says sees average TV screen size increasing 3% per year through 2015
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07:16 EDTGLWCorning sees Q3 LCD glass volume up by mid-single digit percentage sequentially
Corning CFO James Flaws said, "We expect the third quarter will bring Corning's eighth consecutive year-over-year quarterly sales and earnings improvement, and we are on track for strong earnings growth for the full year. In Q3, the company anticipates its LCD glass volume will be up by a mid-single digit percentage, sequentially. Glass price declines are expected to moderate further, returning to the rates experienced through most of 2013. Optical Communications segment Q3 sales are expected to increase by a mid-single digit percentage year over year, driven by continued strong sales of fiber-to-the-home solutions in North America and Europe. For the Environmental Technologies segment,Q3 year-over-year sales are anticipated to grow by 20% to 25%. Corning continues to benefit from strong demand for its heavy-duty diesel emissions control products in North America, China, and Europe. Specialty Materials segment sales are expected to grow approximately 10% sequentially as demand for Gorilla Glass increases in the second half of the year. Life Sciences segment sales are expected to be up slightly on a year-over-year comparison. Synergies from the Corning Precision Materials acquisition are rapidly being achieved, and we expect to surpass our original goal. The company is delivering excellent growth in our Environmental Technologies and Optical Communications business segments, which we expect will continue through the second half of this year."
07:14 EDTGLWCorning reports Q2 core EPS 37c, consensus 38c
Reports Q2 core revenue $2.58B, consensus $2.53B. The company said, "We had great results in the quarter that led to our seventh consecutive year-over-year quarterly core earnings improvement. We have positive momentum, and we are well-positioned to deliver on our 2014 business plan. We are particularly pleased with the improved performance in our Display Technologies segment. As we anticipated, LCD glass price declines were more moderate than they were last quarter. The integration of Corning Precision Materials Co., Ltd. into our global organization is proceeding very well, and we are benefiting from synergies attained through the consolidation."
July 28, 2014
15:47 EDTGLWNotable companies reporting before tomorrow's open
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14:11 EDTGLWEarnings Preview: Barclays positive on Corning ahead of Q2 report
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08:30 EDTGLWCorning August weekly volatility elevated into Q2 and outlook
Corning August weekly call option implied volatility is at 50, August is at 25, September is at 22, November is at 21; compared to its 26-week average of 23, suggesting large near term price movement into the expected release of Q2 results on July 29.
07:26 EDTGLWAmerican Association for Clinical Chemistry to hold annual meeting
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July 18, 2014
11:59 EDTGLWCorning call activity attributed to speculated as takeover target by Forbes
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10:57 EDTGLWCorning speculated at takeover target by Forbes contributor
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July 15, 2014
09:29 EDTGLWCorning names Nike CFO Donald Blair to board
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