Corning Inc. (GLW) recently announced its acquisition of Axygen BioScience from American Capital Ltd. (ACAS) for approximately $400 million in cash. Axygen makes plastic consumable labware, liquid handling products and bench-top laboratory equipment.

"Axygen's product portfolio and established distribution network will significantly strengthen Corning's life sciences platform and are critical components to our long-term growth strategy for this business," said Peter F. Volanakis, Corning's president and chief operating officer. "We believe this highly strategic acquisition offers synergies that will allow us to grow our life sciences business to more than $500 million in revenue by 2011," he added.

Improved Outlook

Corning also recently updated its outlook, announcing that it expects sales volume at its wholly owned business to be down by less than 5% in the third quarter, compared to the quarter-prior. The forecast is an improvement from the previous projection of a decline of 5% to 10% decline.

The company previously stated

...

Corning Inc. (GLW) continues to see bullish Zacks Consensus Estimates. Analysts polled by Zacks are forecasting year-over-year earnings growth of 25.5% for 2010.

Company Description

Corning makes specialty glass and ceramics. The company creates components that enable high-technology systems for consumer electronics, mobile emissions control, telecommunications and life sciences.

Corning's products include glass substrates for LCD televisions, computer monitors and laptops; ceramic substrates and filters for mobile emission control systems; optical fiber, cable, hardware & equipment for telecommunications networks; optical biosensors for drug discovery; and other advanced optics and specialty glass solutions for a number of industries including semiconductor, aerospace, defense, astronomy and metrology.

Solid Quarterly Results

Corning reported second-quarter results in late July. Earnings per share of 39 cents eclipsed the Zacks Consensus Estimate by 30%.

Sales of $1.4 billion topped the previous quarter's total by 41% and came in 18% below the year-prior result.

"The resurgent demand for LCD

...

Corning Inc. (GLW) recently reported second-quarter earnings of 39 cents per share, eclipsing the Zacks Consensus Estimate by 30%. Sales of $1.4 billion topped the previous quarter's total by 41% and came in 18% below the year-prior result.

Company Description

Corning makes specialty glass and ceramics. The creates components that enable high-technology systems for consumer electronics, mobile emissions control, telecommunications and life sciences.

Corning's products include glass substrates for LCD televisions, computer monitors and laptops; ceramic substrates and filters for mobile emission control systems; optical fiber, cable, hardware & equipment for telecommunications networks; optical biosensors for drug discovery; and other advanced optics and specialty glass solutions for a number of industries including semiconductor, aerospace, defense, astronomy and metrology.

Solid Quarterly Results

Corning, which was the subject of a recent analyst upgrade, reported second-quarter results in late July. Earnings per share of 39 cents eclipsed the Zacks Consensus Estimate by 30%.

...

Corning Inc. (GLW) surprised on estimates for the second quarter by 30% as LCD tv sales remain strong. The company recently restarted some idled plants to meet glass demand. GLW trades with a forward P/E of 14.2.

Company Description

Corning is a specialty glass, ceramics and optical fiber manufacturer. It produces glass for LCD flat panel televisions and laptops, ceramic substrates and filters for mobile emission control systems, cable for Internet communication networks and advanced optics and specialty glass for various industries.

Corning Surprised by 30% for the Second Quarter

On July 27, Corning announced second quarter results that surprised on estimates by 9 cents. Earnings per share were 39 cents compared to the Zacks Consensus Estimate of 30 cents.

Sales fell 18% to $1.4 billion from $1.7 billion in the year ago period. However, the company did see a 41% improvement in sales from the first quarter.

...

It was a day of mixed economic and earnings reports Monday but markets held on to gains and edged up slightly as shares seesawed through the session.  Although sentiments got a boost after data showed a surprise rise in new home sales, trading remained subdued as some weaker earnings reports and lowered guidance kept investors on the sidelines. 

The Dow Jones industrial average rose 15.27 points, or 0.2%, to 9,108.51 and the broader Standard & Poor’s 500-stock index edged up 2.92 points, or 0.3%, at 982.18.  The Nasdaq rose 0.1% or 1.93 points, at 1,967.89.  Treasuries declined as the government began a record auction of $115 billion in notes. Yield on the benchmark 10-year jumped to 3.72%.  On the NYSE, 1.04 billion shares exchanged hands and advancing issues outpaced decliners by a two-to-one margin.     

Lowered guidance from Aetna (NYSE:AET) and Honeywell (NYSE:HON) were digested by investors as offsetting those

...

For Immediate Release

Chicago, IL – July 28, 2009 – Zacks.com announces the latest Industry Outlook. Today’s outlook from Zacks Equity Research analyst Ian Gilson discusses the Consumer Electronics sector. Highlighted stocks include: Best Buy (BBY), LG (LPL) and Corning Glass (GLW).

Here is the latest on the Consumer Electronics sector:

The TV market is picking up. Volume has grown significantly and unit sales at retail look good. However, much of the retail demand is driven by deep discounted sales of smaller screen sizes, with 32" being pushed. Best Buy (BBY) had good results in TV, notebook PCs and cell phones in the first quarter and we believe this has continued in the second quarter.

LG (LPL), the second largest FPD maker after Samsung, has announced a capacity increase of an 8G plant (the latest technology plant is 11Generation)

...

The manufacturing build up in China for the consumer electronics (CE) 2009 Xmas season has started. Inventory drawdown from last year had an impact in the fourth quarter 2009 and the first quarter of this year so product volume in the major areas was down year to year.

However, it appears that the worst is over as demand for computers and Flat Panel Display TVs is showing more strength than would be expected on a seasonal basis. But the problems of the worldwide recession had caused some companies to reduce production and some shortages will occur over the next few months. These include DVD and CD drives (since optical pick-up heads are in short supply); HDD drives for notebooks and LCD glass panels.

PC demand is picking up in the consumer notebook area, which includes the new netbook category. The Macbook is particularly strong. Business demand for PC remains weak as business

...

The manufacturing build up in China for the consumer electronics (CE) 2009 Xmas season has started. Inventory drawdown from last year had an impact in the fourth quarter 2009 and the first quarter of this year so product volume in the major areas was down year to year.

However, it appears that the worst is over as demand for computers and Flat Panel Display TVs is showing more strength than would be expected on a seasonal basis. But the problems of the worldwide recession had caused some companies to reduce production and some shortages will occur over the next few months. These include DVD and CD drives (since optical pick-up heads are in short supply); HDD drives for notebooks and LCD glass panels.

PC demand is picking up in the consumer notebook area, which includes the new netbook category. The Macbook is particularly strong. Business demand for PC remains weak as business

...

The manufacturing build up in China for the consumer electronics (CE) 2009 Xmas season has started. Inventory drawdown from last year had an impact in the fourth quarter 2009 and the first quarter of this year so product volume in the major areas was down year to year. However, it appears that the worst is over as demand for computers and Flat Panel Display TVs is showing more strength than would be expected on a seasonal basis. But the problems of the worldwide recession had caused some companies to reduce production and some shortages will occur over the next few months. These include DVD and CD drives (since optical pick-up heads are in short supply); HDD drives for notebooks and LCD glass panels. PC demand is picking up in the consumer notebook area, which includes the new netbook category. The Macbook is particularly strong. Business demand for ...

• Corning (NYSE:GLW) reported second quarter earnings of 39 cents a share that beat estimates by 7 cents a share, on in-line revenues of $1.4 billion, down 17.6%

• Honeywell (NYSE:HON) reported in-line second quarter earnings of 60 cents a share, as revenues increased 22% to $7.6 billion versus estimates of $7.73 billion.  The firm cautioned "Economic conditions, however, remain challenging and we are not planning for any recovery in 2009." It expects second quarter earnings of $2.85 a share, up from the consensus estimates of $2.82

• Verizon (NYSE:VZ) reported in-line quarterly numbers at 63 cents a share, on revenues of $26.9 billion versus projections of $26.85 billion

• Tellabs (NASDAQ:TLAB) posted second quarter at 7 cents, 1 penny above estimates, as revenues fell 11% to $385 million

• Aetna (NYSE:AET) disappointed with its second quarter posting of 68 cents, a dime under expectations, as revenues increased 10.3% to $8.7 billion, versus estimates

...