On a purely technical basis, Corning is now trading at a support level which has been there since mid December (Wedge pattern). The price started to consolidate and is very near a breakout point. Well guess what, they report earnings Wednesday (Catalyst). I do not know what will happen but I am betting the stock finally catches up to the direction the S&P takes. Check a 5 yr chart to confirm, From June 2009-Oct 2009 the same price action occurred. Then the price caught up and blew thru the action in the S&P and Corning more than doubled in price. In the last 5 yrs GLW has never been this far away from the correlation of the S&P. Blowing smoke, maybe...check it out for yourself.
At the time of my post yesterday, Corning was at 13.05, since then it has risen .40. Nothing that will make you rich overnight, but a decent start. The trend line that started in OCT last year is still intact. I hate to restate the obvious, it all depends on the forward guidance in tomorrows earnings report.
If Corning provides the glass for Apple TV, look out folks a whole new revenue stream opens up. Sure it might only equal 4-5% of earnings if that, but it will be in a product that takes market share from the lagging sales of other TVs. A win-win.