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Stock Market & Financial Investment News

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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July 29, 2015
07:53 EDTGLWDow Corning reports Q2 sales $1.42B, down 5% vs. last year
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July 28, 2015
12:14 EDTGLWCorning estimates, price target lowered at Cantor
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08:59 EDTGLWCorning sees FY15 Display market up 6%-8%, LCD Glass market up low single digits
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07:21 EDTGLWCorning sees Q3 Environmental Technologies and Life Sciences sales down slightly
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07:20 EDTGLWCorning sees Q3 Gorilla Glass volume up by high-single-digit percent
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07:19 EDTGLWCorning raises optical communications sales view to up in mid-teen percent
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07:17 EDTGLWCorning sees Q3 LCD glass volume up by low-single-digit persentage
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07:13 EDTGLWCorning reports Q2 core EPS 38c, consensus 37c
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July 27, 2015
15:30 EDTGLWCorning technical comments ahead of earnings
Shares have been in a well-defined downtrend since the highs of February of this year. If news continues to be bearish, the next support based on the current price of $18.43 would be at $17.56 and then at the 52-week low at $17.03. That low was also a pivot low from October of last year. Support below $17.03 would be at $16.55. If the news is a bullish surprise, the first resistance level of significance would be at the 30-day moving average at $19.73. This average is also a good proxy for the upper bound of the current bearish price channel. It would take a breakout above this level to turn the trend to bullish. Next resistance in that event would be at $20.94.
15:03 EDTGLWNotable companies reporting before tomorrow's open
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12:44 EDTGLWEarnings Watch: Corning expecting LCD glass volume up low single-digits
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11:53 EDTGLWCorning July weekly volatility increases into Q2 and outlook
Corning July weekly call option implied volatility is at 77, August is at 39, September is at 32; compared to its 52-week range of 17 to 37, suggesting large near term price movement into the expected release of Q2 results on July 28.
July 23, 2015
07:57 EDTGLWCorning July weekly volatility elevated into Q2 and outlook
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July 21, 2015
16:27 EDTGLWCorning's Antimicrobial Gorilla Glass selected by ZTE
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