Corning Incorporated (GLW) reported earnings per share for the third quarter of 2009 of 41 cents, beating the Zacks Consensus Estimate of 39 cents. Quarterly sales were $1.5 billion, up 6% sequentially. Display Technologies combined glass volume, including Corning’s wholly owned business and Samsung Corning Precision Glass Co., Ltd. (SCP), increased 4% over a very strong second quarter. Volume in the company’s wholly owned business was consistent with the second quarter, while SCP’s volume increased 7%. Glass pricing was comparable to the previous quarter. Sales in the Display Technologies segment were $679 million, slightly higher than the second quarter. Third-quarter sales were impacted by an earthquake in Japan that affected production at the company’s LCD facility in Shizuoka in August. Display sales were positively impacted by foreign exchange rate movements in the quarter. Telecommunications segment sales were $450 million, an increase of 3% over the ...

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

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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%.

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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.

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Corning Inc. (GLW) reported second-quarter results before the bell this morning. The numbers were down from last year, but still ahead of expectations. Earnings came in at 39 cents per share, 8 cents better than the consensus. Revenues were down 18% from last year to $1.4 billion, as sales in its largest segment, display technologies, fell 17% to $673 million. Corning did record solid sales growth in its telecommunications segment, up 14% to $437 million, on strong demand for its optical fiber and cable in China. CFO James Flaws provided some texture to the company's results, saying, "The resurgent demand for LCD glass is propelling us to restore much of our previously idled production capacity as quickly as possible to meet our customers’ needs." Looking forward, Flaws added, "As we enter the second half of the year, we are seeing signs that the impact of the ...

AMGN, Amgen Inc.

GLW, Corning Inc.

HRAL, HearAtLast Holdings Inc, HRAL.PK

DrStockPick Watch List!

DrStockPick Watch List! for Monday July 27, 2009

 

My Picks for Monday July 27, 2009 are:

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AMGN, Amgen Inc.

AMGN is a leading human therapeutics company in the biotechnology industry. For more than 25 years, the company has tapped the power of scientific discovery and innovation to advance the practice of medicine.

AMGN pioneered the development of novel products based on advances in recombinant DNA and molecular biology and launched the biotechnology industry’s first blockbuster medicines. Today, as a Fortune 500 company serving millions of patients, Amgen continues to

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Corning Incorporated (GLW) just declared a quarterly dividend of 5 cents per share, noting that it is payable September 30 to holders of record on August 31. The company offers an industry-leading dividend yield of 1.3%.

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 Income

The company just declared a quarterly dividend of 5 cents per share, noting that it is payable September 30 to holders of record on

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In last week’s Buy, Sell or Hold I recommended Corning Inc. (NYSE: GLW), based on three factors:

The coming global “arms race” to get nationwide broadband connectivity. The arms race recently heated up with the launch of Australia’s $31 billion nationwide broadband plan, which dwarfs the $7 Billion contemplated in the current U.S. budget. China’s has accelerated its broadband buildup, which was highlighted by Corning in its conference call as compensating for a weak U.S. telecom segment. China’s broadband buildup is a component of its $585 billion stimulus package. Inventory liquidation appears to be behind us, and carriers, who are facing double-digit internet traffic growth, cut expenses for equipment to about 2% to 3% of revenue, down from their traditional level of 15% of revenue.  This cannot go on for long.

Well, these same three factors are propelling Ciena Corp. (Nasdaq: CIEN).  Corning

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There is a giant bonanza coming Corning Inc.’s (NYSE: GLW) way, and it’s going to start hitting the company’s bottom line later this year.  What’s more, there is tremendous upside for the company’s stock that is not yet reflected at all in Corning’s share price.

Corning is already surprising everybody – maybe even itself – well before any of this upside has materialized into tangible results.

Corning just reported a first-quarter profit of 10 cents a share, doubling analysts’ expectations. And that’s just beginning. The company raised growth estimates for its LCD television unit, which accounts for about 45% of revenue, to 18% from 9%.

Corning also confirmed the massive inventory liquidation, which means all of the industrial buyers of the company’s products have depleted inventories. You see, the first rule of financial management for a company is to always carry the lowest levels of inventory and

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