New User:

Forgot your password?

Stock Market & Financial Investment News

News Breaks
February 7, 2014
09:30 EDTGLWCorning sees Optical Communications segment growing twice as fast in FY14
Clark S. Kinlin, executive vice president, said that optical solutions will continue driving profitable growth for Corning's Optical Communications segment. He noted that the scale and rate of bandwidth growth-driven by video, wireless data, and cloud computing - are straining data centers and networks. "Optical-based solutions provide the most cost-effective capacity and speed to alleviate pressures on the network," Kinlin explained. He highlighted industry studies that show global IP traffic growing at 23% per year through 2017, with mobile traffic the fastest-growing component. "Our solid foundation of optical components is providing our customers with the necessary integrated solutions for today's growing variety of network applications," he added. Kinlin said that the company expects its Optical Communications segment to grow twice as fast as the overall industry in 2014.
News For GLW From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
April 30, 2015
14:37 EDTGLWCorning downgraded to Hold from Buy at HSBC
April 29, 2015
15:07 EDTGLWCorning Chief Administrative Officer Kirk Gregg announces retirement
Subscribe for More Information
10:00 EDTGLWOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: American Capital Agency (AGNC) downgraded at UBS... American Public Education (APEI) downgraded to Hold from Buy at Deutsche Bank... Annaly Capital (NLY) downgraded at UBS... C.H. Robinson (CHRW) downgraded to Neutral from Buy at BofA/Merrill... Church & Dwight (CHD) downgraded to Perform from Outperform at Oppenheimer... Cobalt (CIE) downgraded to Hold from Accumulate at Tudor Pickering... Compass Minerals (CMP) downgraded to Neutral from Overweight at JPMorgan... Corning (GLW) downgraded to Sell from Underperform at CLSA... Corporate Office Properties (OFC) downgraded at Stifel... Entergy (ETR) downgraded to Market Perform from Outperform at BMO Capital... First Interstate (FIBK) downgraded to Market Perform from Outperform at Wells Fargo... German American Bancorp (GABC) downgraded to Market Perform at Keefe Bruyette... IGI Laboratories (IG) downgraded to Market Perform from Outperform at Avondale... Lumber Liquidators (LL) downgraded at Longbow... Marvell (MRVL) downgraded at JMP Securities... National Oilwell (NOV) downgraded to Underweight from Equal Weight at Morgan Stanley... Oceaneering (OII) downgraded to Neutral from Buy at Sterne Agee CRT... OpenText (OTEX) downgraded to Sector Performer from Outperformer at CIBC... Parker-Hannifin (PH) downgraded on macro headwinds at Stifel... Pfizer (PFE) downgraded to Neutral from Buy at Citigroup... Procter & Gamble (PG) downgraded to Hold from Buy at Societe Generale... RTI International (RTI) downgraded to Market Perform from Outperform at FBR Capital... Ryder (R) downgraded to Neutral from Buy at Goldman... Stratasys (SSYS) downgraded to Neutral from Buy at Goldman... Targa Resources (TRGP) downgraded to Accumulate from Buy at Global Hunter... Total System (TSS) downgraded to Market Perform from Outperform at Wells Fargo... Twitter (TWTR) downgraded to Equal Weight from Overweight at Barclays... Wynn Resorts (WYNN) downgraded to Neutral at Susquehanna.
08:30 EDTGLWDow Corning reports Q1 sales $1.36B, down 11% vs. 1Q14
Subscribe for More Information
07:24 EDTGLW, GLWCorning downgraded to Sell from Underperform at CLSA
CLSA downgraded Corning to Sell with a $20 price target following the Q1 report and guidance. The firm said Corning could see multiple contraction ahead given tougher LCD TV comps in 2H, high supply chain inventory levels, and reduced effects from over earning yen hedges.
April 28, 2015
09:11 EDTGLWCorning sees retail glass market up high-single digits in FY15
Subscribe for More Information
09:02 EDTGLWCorning expects LCD glass prices to decline less in Q2 than in Q1
Corning management stated that European exchange rate adversely impacted net income by approximately $10M in Q1 and the company expects a similar impact in Q2. Management stated that it sees the Retail LCD glass market up low-single digits sequentially and expects volumes to be in line with the market. Expects supply chain weeks of inventory to be near high-end of 'healthy' range at approximately 18.5 weeks. Management sees the optical communications segment up mid-teens, environmental technologies segment down mid-single digits, life sciences segment down slightly, and specialty materials down mid-single digits, in Q2. Management stated that strong Gorilla volume offset by weakness in Semiconductor products. Management stated that it sees Q2 Dow Corning gross equity earnings approximately $60M. Sees Q2 gross margins approximately 45%. Sees Q2 SG&A approximately 13%. Sees Q2 RD&E approximately 8%. Guidance provided during Q1 earnings conference call.
07:17 EDTGLWCorning sees Q2 LCD glass volume up low single-digit percentage sequentially
Subscribe for More Information
07:16 EDTGLWCorning says on track for core EPS growth in FY15
Corning CEO Wendell Weeks said, "In the first quarter, we benefited from the company's business diversity with core sales growing in four of five segments. Our Optical Communications segment had a terrific quarter as demand for fiber-to-the-home solutions and data center products remained strong. In our Display Technologies segment, moderate LCD glass price declines and a relentless focus on cost reductions have helped us maintain profitability. Finally, our latest generation of Gorilla Glass is a hit with customers, and its success is helping to drive operational results. We believe we are on track for another year of core earnings growth."
07:14 EDTGLWCorning reports Q1 core EPS 35c, consensus 34c
Reports Q1 revenue $2.3B, consensus $2.8B. Reports Q1 core sales $2.4B. Sequential LCD glass price declines continued at moderate levels in Q1, and the company expects prices to decline even less in Q2.
April 27, 2015
15:04 EDTGLWNotable companies reporting before tomorrow's open
Subscribe for More Information
14:39 EDTGLWCorning technical comments ahead of earnings
The key technical feature on the 2-year chart is a potential bearish head and shoulders top. The neckline for the pattern is at the $22 area. If the news is more bearish than current expectations suggest and there is a breakdown below $22, the pattern will become active. Downside potential for the head and shoulders would be to the $19 area presuming it completes. A move below $20 would confirm a break in the long-term uptrend. If the news is bullish, the 52-week high at $25.16 becomes first important resistance. The $25 area has been difficult resistance for the stock to overcome, looking back over the prior ten years. If there is a move above the 52-week high, then next resistance is at $26.89.
13:36 EDTGLWEarnings Watch: Corning sees Q1 glass volume flat to down slightly
Corning (GLW) is expected to report first quarter earnings on Tuesday, April 28 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 earnings per share of 34c on revenue of $2.48B, according to First Call. The consensus range for EPS is 32c-38c on revenue of $2.43B-$2.54B. LAST QUARTER: Corning reported fourth quarter core EPS of 45c against estimates for 38c, on revenue of $2.4B against estimates for $2.5B. On its Q4 earnings report, CFO James Flaws said, "We are entering 2015 with momentum. We are expecting sales growth again this year in Optical Communications and Environmental Technologies. We anticipate that growing demand for Gorilla Glass will improve the Specialty Materials segment results. We expect that another strong year of manufacturing process improvements and cost reductions, in combination with sales growth, will deliver overall earnings growth for Corning this year." On its Q4 earnings conference call, management said it expects Q1 glass volume to be flat to down slightly, sequentially. It sees the Q1 glass market down sequentially on normal seasonality, and expects Q1 price declines to be moderate and similar to Q4. For fiscal year 2015, Corning sees the glass market up high-single digits and expects CapEx of $1.3B-$1.4B. STREET RESEARCH: Street research has been mixed in the weeks leading up to Corning’s Q1 earnings report. On January 28, Susquehanna said it believed its investment thesis for Corning continued to play out, citing the TV upgrade cycle and expectations for management to provide color on new product ramps at its upcoming analyst day on February 6. Susquehanna reiterated its Positive rating and raised its price target to $30 form $27 on Corning shares. Conversely, on April 9, Susquehanna lowered its estimates on Corning to reflect currency headwinds, but saw several positive catalysts. The firm cited its Gorilla 4 penetration in the Chinese handset market, auto maker penetration for rear windows, and its Iris glass which is being viewed as a realistic alternative to OLED technology. Susquehanna reiterated its Positive rating, but lowered its price target to $28 from $30 on Corning shares. PRICE ACTION: Corning’s shares have fallen over 6% since Q4 results were released. In afternoon trading ahead of Tuesday's Q1 report, Corning’s shares are down 0.5%.
07:55 EDTGLWCorning May weekly volatility elevated into Q1 and outlook
Subscribe for More Information
April 21, 2015
10:34 EDTGLWCorning sapphire glass rumored to be in new Apple iPhone, PatentlyApple says
Subscribe for More Information

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the disclaimer & terms of use