It seems the street just doesn't like the long term prospects of this industry. Even in record breaking years, they are concerned with the inevitable slowdown to follow. Until the automakers follow the path of the the airlines and begin merging there will never be pricing power to ensure long term health. Unfortunately during the financial crisis - bailouts took away the need for consolidation, so we have to wait for the next crisis to possibly get some rationalization in the industry globally. Marchionne is correct that the only way to survive long term is to have some mergers to leverage the huge investments and development costs.
We can hope that this is the real run that is long over due. But it can't sustain without some efforts in management to really change their ways and stop making excuses about pricing, currencies, economy, slow moving customers, etc. The stock has disappointed time and time again so it's hard to get excited about this move which is just recapturing a bit of the fall from 25.
things will suck next quarter - but they will magically improve beyond that - oh and the usual, LCD price declines will continue to moderate, our competitors can't make a profit at these prices so they must stop falling. We'll continue to buy back stock although even with buy backs the stock price will fall because we don't know how to grow the company.
Weeks should have been fired long ago. Reading the results is like reading the same book over and over....we expect moderate price reductions in LCD blah blah blah blah. Most of the business are contracting. Weeks really sucks.
Your track record of predictions on Corning Stock is abysmal - so your latest statement about the stock isn't worth #$%$.
remarkable innovations that provide zero pricing power. you are believing the nonsense they keep spouting out since they cannot defend the stock price performance.
OK - your comment could have been made at any time in the past several years. This management team has underperformed it's peers for a long time. At some point it will be too late to catch up, when the whole market adjusts down.
this is just great price action today AGAIN! Corning management not bright enough to expect something back in exchange. When you will realize this mgmt is a piece of crp.
Yes...only idiots like CR2/HIGH would believe that the 1.5 Billion wasted on buybacks benefited the shareholders.
Glad that the 1.5 B was used already. That money spent had a tremendous benefit to shareholders as can be seen by the stock price appreciation.
problem is that mgmt just TALKS....dow corning sale, automotive applications, smart glass for buildings, fiber to home, anti-microbial glass, but it's just talk - nothing big happens - and these technologies are not great enough to get adopted quickly. The company seems to exist only to provide employment and make the mgmt rich.
Yes, pathetic price action from this very undervalued company. Doesn't matter how many bullish articles get written or how many "bold" plans this mgmt team makes. Weeks needs to be shown the door and soon.
Activists go into other companies (Xerox??). Corning talks about things...selling Dow Corning stake, smart glass for buildings, gorilla on automobiles, oh we are such a wonderful innovative company. Yet nothing happens other than buying stock which hasn't helped. Mgmt is up on the top floor drinking coffee, pondering their stock options, deciding where to dine for lunch.
Hope the absolute dearth of questions is no indication of the excitement for this company and it's future drugs. they practically had to beg for questions.