27.76 0.00 (0.00%)
After hours: 5:49PM EDT
|Bid||27.81 x 1800|
|Ask||27.82 x 800|
|Day's Range||27.68 - 28.14|
|52 Week Range||26.78 - 36.56|
|Beta (3Y Monthly)||1.24|
|PE Ratio (TTM)||17.35|
|Earnings Date||Oct 29, 2019|
|Forward Dividend & Yield||0.80 (2.90%)|
|1y Target Est||31.72|
Corning (GLW) improves its R&D capabilities with $250 million Apple funding, while Ericsson (ERIC) upgrades its manufacturing capabilities with smart automation.
After a lethargic start, some encouraging commentary on the future of international trade lifted stocks out of the doldrums on Tuesday. The S&P 500 ended the day at 3,005.7, up 0.26%, though the gain was made on light volume.Source: Shutterstock Snap (NYSE:SNAP) was one of the key drivers of that progress. The Snapchat parent's stock jumped nearly 7% after Susquehanna analyst Shyam Patil upped his stance on the company from "Negative" to "Neutral." A much bigger Corning (NYSE:GLW), however, was one of the key reasons the broad market didn't fare better. Shares of the industrial tech outfit fell more than 6% after lowering its sales guidance for the quarter now underway. * 10 Recession-Resistant Services Stocks to Buy As for the names worth a closer look headed into Wednesday's session, however, the stock charts of Global Payments (NYSE:GPN), Valero Energy (NYSE:VLO) and Discovery (NASDAQ:DISCA) stand out. Here's what's most interesting about each.InvestorPlace - Stock Market News, Stock Advice & Trading Tips Discovery (DISCA)With nothing more than just a quick glance, Discovery shares look like they're trapped in a choppy, sideways range. And, perhaps that's all it is. A more critical and longer-term look at the action that has taken shape over the course of the past couple of years, however, suggests DISCA stock is alarmingly vulnerable to more downside. It just needs one more good nudge to push it over the edge of that cliff. * Click to EnlargeIt's subtle, but it's too reliable to ignore now. That is, the 200-day moving average line plotted in white on both stock charts has been a key support and resistance level. Last week, it was major resistance. * Zooming out to the weekly chart we can see a glimpse of a head-and-shoulder pattern, with a neckline that was broken in the middle of last month. Once the neckline is broken, the stock in question should theoretically fall the same distance between the neckline and the top of the head. * The last bastion of hope for the bulls is that the recent floor around $26.16, plotted in yellow on the daily chart, continues to hold up as support. Global Payments (GPN)It was news that sparked the volatility in shares of Global Payments yesterday. The European Union has given permission to the payments middleman to acquire Total System Services (NYSE:TSS). As such, some traders expect Tuesday's volatility will have passed by Wednesday. And, perhaps it will.Sometimes, however, it's news that triggers a pent-up technical move that's simply waiting on the right catalyst. If that's the case here for GPN, traders may want to brace for a sizeable pullback. * 7 Stocks the Insiders Are Buying on Sale * Click to EnlargeThe shape of the bar itself is key. Despite a decent start and an early move to a big gain, by the time the closing bell rang, the stock was below Monday's low. This "outside day" reversal suggests a sweeping change of heart often seen at major pivot points. * Yesterday's volume spike also suggests a transition from a net-buying to a net-selling environment. * The weekly chart's RSI line illustrates just how overbought Global Payments was, and still is. That same chart also underscores how important the 100-day moving average line, marked in gray on both stock charts, is as a technical floor. Valero Energy (VLO)Finally, topping with an energy stock right now can be a tricky game. Aside from being something of a political pawn and clearly subject to even threats of disruption, the true depth of global demand is fuzzy as the world works towards alternative energy sources.To the extent one can trust the chart of any oil and gas name at this time though, Valero Energy is dropping some interesting hints. One more bullish "oomph" could get shares up and over a recently developed hurdle and start a major recovery of last year's major meltdown. * Click to EnlargeThe hurdle in question is the line that connects all the recent peaks since the beginning of July, marked in red on both stock charts. * Fueling the range-bound action that set up this consolidation is a floor that not only connects the key lows since late last year, but extends back to early 2018. It's marked in yellow on both stock charts. * Tilting the scales in a bullish direction is the way the moving average lines have converged after a wide divergence. If history repeats itself, they'll start to diverge again, starting with the purple 50-day moving average line's cross above the white 200-day line … a so-called "golden cross" that often portends prolonged bullishness.As of this writing, James Brumley did not hold a position in any of the aforementioned securities. You can learn more about James at his site, jamesbrumley.com, or follow him on Twitter, at @jbrumley. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Momentum Stocks to Buy On the Dip * 7 Dow Titans Breaking Higher * 5 Growth Stocks to Sell as Rates Move Higher The post 3 Big Stock Charts for Wednesday: Global Payments, Discovery and Valero Energy appeared first on InvestorPlace.
Apple has awarded $250 million to Corning, the maker of Gorilla Glass, from a fund to invest in advanced U.S. manufacturing.
Apple on Tuesday deepened its ties with a Kentucky manufacturing plant by awarding $250 million to support Corning Inc.’s continued work to develop glass for iPhones and other devices.
The stock market was relatively calm on Tuesday as investors await a rate decision from the Federal Reserve on Wednesday. There were still some big movers on the day though, so let's look at a few top stock trades. Top Stock Trades for Tomorrow 1: BoeingAs investors grow optimistic about getting the MAX 737 back in action, Boeing (NYSE:BA) stock is coiling and looking to move higher.InvestorPlace - Stock Market News, Stock Advice & Trading TipsShares have been consolidating between $375 and $385. In order to trigger a move higher, BA stock needs to clear $385. Just overhead -- near $387 -- is the 38.2% retracement. If Boeing can clear both marks, a rally into the $390s is possible. Above the March high and BA may even fill the gap back up over $410. * 7 Tech Stocks You Should Avoid Now If shares resolve lower, see that recent uptrend support (blue line) buoys the name. Top Stock Trades for Tomorrow 2: Aurora CannabisI hate to say it, but investors should have seen the decline coming in Aurora Cannabis (NYSE:ACB) stock. InvestorPlace readers have been leery of ACB for months now, and our recent call that shares may fall again only reiterated that cautious stance.Now breaking below the August lows, let's see if ACB draws in buyers near $5. We can't trust the name on the long side while it's below $5.40 -- at least in the short term. Even if it does reclaim this mark, it's only good for a short-term bounce.Below $5 and the December lows are possible, but let's take it one step at a time and see if it hits $5 to begin with. Top Stock Trades for Tomorrow 3: PinterestPinterest (NYSE:PINS) wants to begin rallying again, but it faces a tough road with high-growth tech stocks under pressure recently. On the charts, there's a lot of overhead, too.$30 is a significant mark, while the 50-day moving average is up at $30.57 and the declining 20-day moving average is at $31.05. $32 has also proven significant. Not to pummel you with numbers, but making matters even more complicated, the 50% retracement is at $29.94 and the 38.2% is at $31.57.So let's simplify it.PINS has a lot of marks between $30 and $32. Above $32 and it has mostly blue skies. Below $30 and it has the 100-day moving average at $29 and uptrend support at $28.Even simpler? Above $32 is bullish, below $28 is bearish. Top Stock Trades for Tomorrow 4: CorningCorning (NYSE:GLW) is getting hit hard on Tuesday, down more than 7%. On the weekly chart above, we can see shares being rejected by the 100-week moving average.It puts a key support zone on watch just below current levels. The ~$27 mark has been notable over the last three years, while the 200-week moving average stepped up as big-time support last month. That's currently at $26.50.Below that mark and GLW is in trouble. If we get a dip down into the $27 area, aggressive investors have a better risk/reward there than here, but GLW isn't my cup of tea. Top Stock Trades for Tomorrow 5: Acadia PharmaceuticalsAcadia Pharmaceuticals (NASDAQ:ACAD) has been a beast lately, gapping from $23.77 to almost $39 in a single move.ACAD stock consolidated that move beautifully in a narrowing range, before resolving higher on Monday. It tried to breakout over $44 again on Tuesday -- which has been multi-day resistance -- but was rejected. * 7 Momentum Stocks to Buy On the Dip Over $44 puts the $44.85 highs on the table and over that, ACAD can regain upside momentum. A break below $40 signals that Acadia needs more time to consolidate.Bret Kenwell is the manager and author of Future Blue Chips and is on Twitter @BretKenwell. As of this writing, Bret Kenwell is long PINS. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Momentum Stocks to Buy On the Dip * 7 Dow Titans Breaking Higher * 5 Growth Stocks to Sell as Rates Move Higher The post 5 Top Stock Trades for Wednesday: BA, ACB, PINS appeared first on InvestorPlace.
U.S. stocks were modestly lower on Tuesday as investors moved to the sidelines ahead of the Federal Reserve's two-day policy meeting, while the impact of weekend attacks on Saudi Arabia's biggest oil refinery faded. Equity markets took a hit on Monday as the attacks wiped out nearly half of Saudi Arabia's oil production, sending oil prices soaring, while fuelling geopolitical tensions. "It looks like the market is largely overlooking the possibility of conflict at this point," said Chris Zaccarelli, chief investment officer at Independent Advisor Alliance, in Charlotte, North Carolina.
U.S. stocks edged lower on Tuesday as a drop in oil prices weighed on the energy sector, while investors stayed away from making big bets ahead of the Federal Reserve's two-day policy meeting, where it is widely expected to cut interest rates. The U.S. central bank concludes its policy meeting on Wednesday, with traders currently expecting a 65.8% chance of a quarter percentage point cut from the Fed this week, down from 88.8% on Friday, according to CME's FedWatch. "It's just typical trading on the vigil of a Fed meeting," said Peter Cardillo, chief market economist at Spartan Capital Securities in New York.
Wall Street was set to open slightly lower on Tuesday as investors stayed away from making big bets ahead of the Federal Reserve's two-day policy meeting, where it is widely expected to cut interest rates. The Fed concludes its policy meeting on Wednesday, facing a host of global growth worries including a prolonged U.S.-China trade war into which the weekend bombings on Saudi Arabia's oil refinery have thrown an oil price shock. Traders currently see a 65.8% chance of a quarter percentage point cut from the Fed this week, down from 88.8% on Friday, according to CME's FedWatch.
Corning Incorporated (GLW) is lowering expectations for two segments, while maintaining view for three to better reflect the existing market conditions.
Corning Incorporated (NYSE: GLW ) shares are trading lower after the company cut its third-quarter display volume forecast to a quarter-over-quarter decline of high single digit percent. The company cited ...
Since the first iPhones hit the market in 2007, the glass on every iPhone sold has been produced at Corning’s Harrodsburg, Kentucky, plant. Apple and Corning did not disclose the terms of the deal. In the past, Apple has made long-term supply agreements https://www.reuters.com/article/us-apple-finisar/apple-grants-390-million-to-finisar-to-boost-laser-chip-production-idUSKBN1E71EA with its vendors in which it provides upfront cash to lock in supplies of parts and better prices.
Investing.com – Wall Street ticked lower on Tuesday as stronger-than-expected industrial production and manufacturing output figures put another dent in hopes for a rate cut from the Federal Reserve, whose regular policy meeting kicks off later.
Corning Inc. shares fell in the extended session Monday after the materials company reduced its outlook for the year in two of its business segments. Corning shares fell 8.5% after hours, following a 0.4% decline to close at $30.05 in the regular session. The company said it expects optical communications sales to decline by 3% to 5% for the year, compared with its previous forecast of a low-to-mid-single digit percentage increase. Analysts surveyed by FactSet expect sales of $4.37 billion, or a 4.3% increase. In display technologies, Corning continues to expect third-quarter prices to be sequentially flat, and full-year glass prices to decline by a low-to-mid single-digit percentage. Analysts expect $3.35 billion, or a 2.1% increase.
Corning Incorporated (GLW) is providing the following updates on the performance of its business segments in the third quarter ending Sept. 30, 2019, reducing expectations for two – Display Technologies and Optical Communications – and maintaining guidance in its other three. Within Corning’s Display Technologies segment, several panel manufacturing customers have reduced utilization below anticipated levels in the current quarter. Consequently, Corning is reducing its Display volume forecast to a sequential decline of a high-single digit percentage in the third quarter.
Corning Incorporated (GLW) today announced Corning® Astra™ Glass received the Gold Panel Display Component Technology Award at Touch Taiwan. Corning will showcase Astra Glass, along with its other industry-leading advanced glass solutions, at Touch Taiwan 2019 in Taipei, Taiwan, Aug. 28-30 in booth #K804.
Corning (GLW) collaborates with Chengdu CEC Panda Display in order to implement Astra Glass as the basis for the next evolution of high-performance oxide thin-film transistor displays.
CORNING, N.Y. , Aug. 22, 2019 -- Corning Incorporated (NYSE: GLW) today announced the selection of Corning® Astra™ Glass by Chengdu CEC Panda Display Technology Co., Ltd.,.