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Corning Inc. Message Board

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  • stillinshock stillinshock Sep 19, 2007 4:02 PM Flag

    25 million shares are pegged to Asbestos litigation fund

    Doesn't make any difference which one is right here, the fact remains that this is being beaten to death. All the good news and nobody wants to buy into this company. There are other reasons I'm sure, but I for one am at a loss for this beating.

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    • The asbestos settlement has nothing to do with the price action in GLW's stock.

      Corning has in both today's conference and the previous one spelled out what has been concerning investors....fear that high ticket LCD TV sales will fall as a result of the credit squeeze. Corning has also made it clear that that fear is likely to be unfounded. Out of the expected 73 million LCD TV to be sold this year only 21 million are expected to be sold in North America. Only 6 million of those are 40 inch or larger (the price point likely to be affected by a retrenching consumer) and 3 million of those 6 million were already sold by June 30th of this year. Corning reiterated their expectation for 73 million LCD TVs to be sold this year.

      However, whenever there is investor uncertainty (and the current overall market environment is uncertain) you are going to see investors lighten up and move to the sidelines. Most of the funds invested in GLW have very good gains....there is nothing surprising about them "taking some off the table" until confidence about the US economy and market return.

      Corning's fundamentals are excellent. Bernanke has made in clear in deeds as well as words that he is going to do what it takes to stave off a US recession. Global growth is phenomenal (and Corning's markets are all global.)

      Cathi

 
GLW
22.17+0.25(+1.14%)Jul 22 4:00 PMEDT

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