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Corning Incorporated (GLW)

NYSE - NYSE Delayed Price. Currency in USD
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38.23-0.23 (-0.60%)
At close: 4:02PM EDT
37.99 -0.24 (-0.63%)
After hours: 07:41PM EDT
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  • A
    Anonymous
    from fatta
    Same old pattern!! Drive the price down before earnings. Someone knows how to manipulate the price and make money.
  • M
    Mich
    Corning Incorporated GLW is scheduled to report third-quarter 2021 results on Oct 26, before the opening bell. In the last reported quarter, the company delivered an earnings surprise of 3.9%
  • A
    Anonymous
    from fatta
    This says it all
    Corning isn't an exciting growth stock, but it provides a balanced way to invest in the long-term expansion of the mobile, optical, life science, and auto markets. Corning's end markets are cyclical, but its current growth cycle hasn't peaked yet -- and its dividends should continue rising for the foreseeable future.
  • S
    Somarphous
    I'm just a little surprised at the current weakness in the SP and not sure what to make out of it, maybe manipulation is the only thing that comes to mind unless the inflationary costs hit GLW like a tornado in Q3.

    Recent News Updates:
    1) EPA registration of guardiant antimicrobial particles in paint - Think of all the hospitals, schools, airports train stations etc. that will use this paint.
    2) 4th quarter dividend announcement of $0.24, hoping for $0.27 first quarter 2022.
    3) $150 Million expansion of optical based on commitment from AT&T, similar to Verizon deal in 2017 and this is over and above the capacity already in place for the Verizon deal.

    The weakness amid all this news all but suggests that there is some manipulation to shake off the weak hands. Of course some of the weakness is coming from the market, but we had lost a lot of ground when the market was strong. 2021 YTD TR performance of GLW -> 4.35% vs S&P 500 -> 17%
    Not sure what it is but the company has no respect on the street and only time will tell who is right.
    We need solid Q3 results and Q4 guidance to shake us out of this malaise.

    Comments?
  • r
    robert
    @HOBO: I am down about 1.7M with the boatload of GLW that I own. However. I believe we will rise to the low 40’s by years end, but not 50. If it reaches the old high or higher, I am definitely selling my larger blocks. It is a shame this stock is such a poor growth stock over the past 20 years.
  • d
    dbtunr
    anyone now concerned about year end tax selling and this going under $30 by year end? I've made money in all my investments except this one. Thinking of selling for a tax loss myself.
  • R
    Rosemary
    CORNING, N.Y., Sept. 28, 2021 (GLOBE NEWSWIRE) -- Corning Incorporated (NYSE: GLW) today announced it is expanding its longtime collaboration with AT&T (NYSE: T). The two companies will work together to extend investments in fiber infrastructure, expand U.S. broadband networks, and accelerate 5G deployment. Based on AT&T’s long-term commitment to its network buildout, Corning is investing $150 million in optical cable manufacturing in North Carolina, initially adding 200 jobs.
  • S
    Somarphous
    I do realize that GLW has underperformed the market in the last 4 months, but on the flip side I don’t see a single post on why GLW is a good value at ~$37 to attract new money. The usual trashing posts from investors who either bought at the recent 52 week high or in the single digits 20 years ago, who get their daily gratification from watching the stock price. What is not to like from a stock that is selling at a discount to the S&P, increasing dividend, strong growth ahead and the company buying back it’s own stock. Either use this opportunity to buy and recommend to friends and family to average in their positions or short the stock.
  • S
    Somarphous
    Weird how it fell more than the S&P on a day of Optical expansion. My feeling is that optical is sold out for at least 2-3 years if not more. Good thing is that a lot more cheap shares will be purchased at the end of the day tomorrow by DRIP. Another 2-3 million shares removed from circulation.
  • S
    Somarphous
    Nice volume! Over 6 million on the day and over 1.5 million in the last hour.
  • R
    Robert
    I am having trouble digesting this. Corning announces they are growing their fiber infrastructure adding 200 jobs and it goes down 1.50 in two days. They say the demand for fiber is very strong maybe they should raise their prices to AT&T and make some money. Something is wrong with the management at Corning they must be weak and easy to take advantage of. Same with the bottles for Covid must be selling them too cheap! Maybe they do not know inflation is everywhere and letting profits slip away. I am sure the workers are getting paid more how about increasing prices of the products! Weak management very weak!!
  • R
    Rosemary
    Should be a dividend announcement shortly..
  • F
    Fncydansir
    Down 20% off the annual high. I want to get back into GLW but, I wonder what is going to happen when the market enters a correction (which I believe will be within 6 months). I suppose I could dollar-cost average in however; I believe there is more short term down-side to up. Thoughts?
  • H
    Hunter
    She's running up again .... be sure to own a "boatload" for that wonderful dividend before Nov. 10
  • r
    robert
    What do people think the price action will be after earnings? We seem to be stuck between 37-38.
  • A
    Anthony
    Isn’t Corning buying back shares…
  • S
    Somarphous
    Not sure if anyone noticed, but the vol. in the last hour on Friday was over a million shares.
  • C
    Carl
    Hopefully GLW is using this dip to buy back shares. All its divisions are performing well, so I believe the company is in the best position it has been in many years.
  • B
    Bobby
    I'm at a loss as to why GLW hasn't experienced much love this year. It grew earnings by 700% over past year, forecasted to grow earnings at another 33%. Is well under intrinsic fair value by 38%. Has a forward PE of only 16 in an industry with an average of 23. Has a PEG well under 1 at 0.77. With the love expected to hit building up infrastructure, coupled with tech, GLW looks pretty darn good.
  • s
    sdmull1
    For what it’s worth, CFRA maintains “buy” rating on GLW; places PT of $50 on stock. Nice of them.
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