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Corning Inc. Message Board

  • ah_yea_i_think ah_yea_i_think Dec 5, 2002 10:37 AM Flag

    Chrigabe is exactly right.

    This is appropriately a $4 stock. If the market tanks to old lows, and it may, you will pick it up under 3. Flaws info today makes it clear this is not a growth story for 2 years, and who knows then?

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    • Re to: ah_
      "Flaws info today makes it clear this is not a growth story for 2 years, and who knows then?"

      You are right.

      In addition, GLW does not have to grow to be a $4 stock, or even a $10 stock. It just has to manage it's new size and fix the debt. When they finish fixing the over capacity (closing plants) they will be just fine for profits.

      Have a nice investing day and hope you got in at $3.85 today.

      *Chart*

      • 2 Replies to c_h_a_r_t_n_y
      • as underwater hedgies (correctly) try to cover IMO. GLW is writing off the kitchen sink for a reason: to clear the decks & trim the sheets toward profitability in '03. some observations: reiteration by Flaws of goal of profitability in '03, no wobblies there! restructuring: prepared to do more if nec. ie. they're tuned in to the problems & are ready to go the max. continued access to "committed revolving credit line": wouldn't dare say it if the ground was shaking there. IMO a very positive sign. finally reference to "public policy changes": possibly this in ref. to easing by FCC & FTC re. non competitive regulations to allow Bells into many new markets. SBC & BLS have the capex to spend in those endevours. IMO the huge volumes of the rally in GLW shares have not been the mullets because the brokers didn't dare chance it. Those buyers have been the ones who upon doing their homework deemed the risk factor advantageous to being long. Large insider buying (esp. gordon gund & jamie houghton) added to the concept that they do have the turn around under control, however painful. were things as desperate as the hysterics imply then GLW wouldn't be adding to the pension plan (incr. from 25 mil to 60 mil in '03) when there is no danger of mandatory requirements. Maybe after all the obligatory, letter of the law accounting bad news will start to come some fundamental good news. that's my bet! best. p.

      • .......by managing debt, do you mean not missing a payment, or accelerated repayment? There is serious, albeit, managable debt there, and without it, the stock would probably be 8-10 now.

 
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