Corning Incorporated provides technology-based products and services in the United States. The company operates through four segments: Display Technologies, Telecommunications, Environmental Technologies, and Life Sciences. The Display Technologies segment manufactures glass substrates for liquid crystal displays that are used in notebook computers, flat panel desktop monitors, and LCD televisions.
Corning is a blue chip company that has some strong, long, and distinguished history. Did you know that Corning was around to develop the bulb-shaped glass for Thomas Edison's incandescent lamp. While Corning is old this should not scare you away from this stock, because it continues to grow. With it's LCD televisions, optical fiber technology products, and many more.
We find this interesting as well coming from Breifing.com, Corning (GLW 20.86)
Updated: 24-Jan-07 13:26 ET was Updated: 24-Jan-07 13:26 ET
Earning Its Keep
A consequence of its decision is that Corning's first quarter won't look so robust. Currently, the company is estimating sales in the range of $1.26 to $1.31 billion and earnings in the range of $0.24 to $0.27, before special items. That compares to sales of $1.26 billion and earnings of $0.27 per share in the prior-year period.
Comparisons to 2006 will be challenging overall, as Corning's net income increased 35%, excluding items, to $1.78 billion, or $1.12 per share, on a 13% increase in sales to $5.17 billion. Its equity affiliates - Dow Corning and Samsung Corning Precision Glass - contributed 52% of net income, net of impairments. The FY07 consensus EPS estimate currently stands at $1.25, according to Reuters Estimates.
The drop in energy prices, which should help cut manufacturing costs, should help on the comparison front, as would an increased number of fiber-to-the-premises deployments by Verizon (VZ). Separately, a forecasted sales increase of more than 60% for its heavy-duty diesel products, which will stem from new U.S. emissions regulations that went into effect on Jan. 1, bodes well for Corning's growth prospects in 2007.
Also, just a little side note, we thought it would be interesting to pull up the history prices of GLW. Especially right around when this article came out from Briefing.com
This is what we found when we went to yahoo and pulled up the prices from Jan 23 to now. Knowing that someone knew this article was coming out, and now look at the price today Currently as of 22.52 what it opend at!
Date Open High Low Close Volume Adj Close*
6-Feb-07 21.50 22.41 21.45 22.37 36,924,000 22.37
5-Feb-07 21.19 21.58 21.17 21.36 15,186,900 21.36
2-Feb-07 20.86 21.23 20.85 21.09 14,004,900 21.09
1-Feb-07 21.00 21.14 20.70 20.86 10,674,700 20.86
31-Jan-07 20.74 20.97 20.30 20.84 13,931,900 20.84
30-Jan-07 20.76 21.01 20.64 20.68 13,292,800 20.68
29-Jan-07 21.15 21.28 20.79 20.92 11,096,300 20.92
26-Jan-07 21.28 21.30 20.95 21.20 12,167,100 21.20
25-Jan-07 21.30 21.73 20.89 21.16 27,326,800 21.16
24-Jan-07 20.21 21.09 20.20 20.90 65,890,000 20.90
23-Jan-07 18.95 19.00 18.60 18.84 14,801,900 18.84