Corning has insider buying, a deeply discounted stock priced based on the DCF model, healthy dividend, and finally a catalyst. Yes, Gorilla Glass has been huge but the market already knew that. It’s finally TV’s that are coming back, bigger than ever as the moribund housing market heats up. Let’s hope the move to bigger and thinner TVs has legs. We are long GLW
Corning Touches on Apple Upside
By DIMITRA DEFOTIS | MORE ARTICLES BY AUTHOR
The maker of glass screens for LCD TVs, iPhones and iPads cheered investors after forecasting strong demand for this quarter.
‘Tis the season for flat-screen television purchases, and that’s putting a shine on shares of Corning (ticker: GLW), which spiked 8%, or 92 cents, to $12.27 in Tuesday afternoon trading.
Fueling the rise: the maker of glass used in liquid-crystal display television screens, computer tablets and mobile devices says fourth-quarter glass volumes, which were expected to be flat or down, will rise by “a midsingle-digit percentage sequentially” and full-year sales of its popular Gorilla Glass could approach $1 billion.
The stock has been a disappointment this year. But with Corning citing hot retail demand for LCD televisions and other consumer electronics devices in North America and China, the stock may break free from the doldrums.
via Corning Stock Can Rise More as Fundamentals Improve – Barrons.com.