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News Breaks
January 28, 2013
14:07 EDTGLWEarnings Preview: Corning sees Q4 gross margin down almost 1%
Corning (GLW) is expected to report Q4 earnings on Tuesday, January 29 before the market open with a conference call scheduled for 8:30 am ET. Corning is a globally diversified technology company... EXPECTATIONS: Analysts are looking for EPS of 33c on revenue of $2.07B, according to First Call. The consensus range for EPS is 30c-35c on revenue of $1.99B-$2.13B... LAST QUARTER: Corning reported Q3 adjusted EPS of 34c against estimates for 32c on revenue of $2.04B against estimates for $2.02B. On its Q3 earnings report, the company said it planned to implement selected cost and modest head count reductions. Management cited macro economic weakness and expected the headwinds to persist into 2013. They anticipated a a pre-tax charge of up to $50M in Q4 to cover the cost of the restructuring. Q4 gross margin was also forecast to be down by almost 1%... STREET RESEARCH: Street research has been mixed in the weeks leading up to Corning’s Q4 earnings report. On January 11 and January 17, Corning was downgraded by Goldman Sachs and RBC Capital, respectively. Topeka upgraded Corning to Buy from Hold on November 27, while Bernstein initiated the shares with an Outperform rating and a $15.20 price target on December 4... PRICE ACTION: Corning’s shares have fallen approximately 11% since the company's Q3’s results were released in late October. In early afternoon trading ahead of Tuesday's Q4 report, Corning’s shares are down about 2%.
News For GLW From The Last 14 Days
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November 19, 2015
08:32 EDTGLWCorning focusing on new end markets to expand growth, says Susquehanna
Susquehanna said Corning has recently focused on new end-market opportunities that could help provide growth as display matures. Although the firm noted the company is trying to find opportunities, they see only 6-8% accretion to 2017 earnings. Susquehanna reiterated its Positive rating and $22 price target on Corning shares.
November 17, 2015
07:56 EDTGLWUBS to hold a conference
Global Technology Conference is being held in San Francisco on November 16-18 with webcasted company presentations to begin on November 17 at 10:45 am.; not all company presentations may be webcasted. Webcast Link

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