S&P 500
7,226.20
+0.01%
Dow Jones
49,494.60
-0.62%
Nasdaq 100
27,685.40
+0.66%
Russell 2000
2,804.78
-0.02%
FTSE 100
10,364.50
0.00%
Nikkei 225
59,260.50
-0.78%

Industrials

Corning Sees Higher Demand for LCD Screens

Photo of Paul Ausick
By Paul Ausick Published
Follow 24/7 Wall St. on Google
This post may contain links from our sponsors and affiliates, and Flywheel Publishing may receive compensation for actions taken through them.

Thinkstock
In an announcement of its annual investor conference today, Corning Inc. (NYSE: GLW) said that it expects the retail market for LCD TV sets and other consumer electronics devices to improve in the current quarter, but that prices will also be lower. The company expects demand to remain solid for the coming year, with only “moderate” price erosion.

Corning’s CEO said:

We now expect glass market volume to be up in the low single digits this quarter, versus our previous expectation of down low-to-mid single digits. Corning’s total LCD glass volume at its wholly owned business and Samsung Corning Precision Materials Co., Ltd., should be up in the mid-single digits sequentially.

The company expects its share of the LCD glass market to remain stable for the coming year with only modest price declines.

Corning also expects sales of its specialty Gorilla Glass to rise by 5% in the fourth quarter, and to post a 60% sales gain year-over-year as more companies include the product in their smartphones and tablets. The company thinks sales of Gorilla Glass could reach $1 billion in 2012. Apple Inc. (NASDAQ: AAPL) has used the product in its iPhones.

Corning’s shares are up 7.7% in premarket trading this morning, at $12.22 in a 52-week range of $10.62 to $15.04.

Paul Ausick

Photo of Paul Ausick
About the Author Paul Ausick →

Paul Ausick has been writing for a673b.bigscoots-temp.com for more than a decade. He has written extensively on investing in the energy, defense, and technology sectors. In a previous life, he wrote technical documentation and managed a marketing communications group in Silicon Valley.

He has a bachelor's degree in English from the University of Chicago and now lives in Montana, where he fishes for trout in the summer and stays inside during the winter.

Featured Reads

Our top personal finance-related articles today. Your wallet will thank you later.

A 70-Year-Old With $1.4 Million Faces a $62,000 RMD That Pushes Him Into a Higher Tax Bracket
Drew Wood |

A 70-Year-Old With $1.4 Million Faces a $62,000 RMD That Pushes Him Into a Higher Tax Bracket
A Couple's $1.2 Million Portfolio Faces a 3.9% Withdrawal Rate That Feels Safe but Is Not
Drew Wood |

A Couple's $1.2 Million Portfolio Faces a 3.9% Withdrawal Rate That Feels Safe but Is Not

Continue Reading

Paul Ausick |

Corning Shares Sag on Outlook, Lower Earnings

courtesy of SamsungCorning Inc. (NYSE: GLW) reported fiscal third quarter 2013 results before markets opened Wednesday morning. For the quarter,…
Paul Ausick |

Corning’s Preliminary Earnings Overshadowed by Samsung Deal

courtesy of SamsungCorning Inc. (NYSE: GLW) reported preliminary third-quarter 2013 results after markets closed Tuesday night. The company said it…
Paul Ausick |

Corning Earnings a Pleasant Surprise

ThinkstockCorning Inc. (NYSE: GLW) reported first-quarter 2013 results before markets opened this morning. The specialty glass and technology products maker…
Paul Ausick |

Corning Disappoints on Revenues, Matches EPS Estimates

Corning Inc. (NYSE: GLW) this morning reported second-quarter adjusted earnings of $0.31 per share and $1.91 billion in revenue. Earnings…
Douglas A. McIntyre |

Do Corning Sales Point To Weakness in Consumer Electronics? (GLW, AAPL, MOT, SNE)

In the first nine months of 2010, manufacturers pushed some 52 million TV sets into their distribution channels. Unfortunately, only…
Jon C. Ogg |

Corning, Value vs. Value Trap

Corning Inc. (NYSE: GLW) may need to go back to its Glassworks name. The stock is proving to be as…
Are Investors Overreacting to Corning’s Business Update?
Chris Lange |

Are Investors Overreacting to Corning’s Business Update?

Corning shares dipped on Tuesday after the firm provided an early update on its third-quarter performance. Unfortunately, the firm is…
Why Analysts Are Chasing Corning Higher After Earnings
Chris Lange |

Why Analysts Are Chasing Corning Higher After Earnings

Corning Inc. (NYSE: GLW) posted strong results for the fourth-quarter before the markets on Tuesday and analysts were fairly impressed.…
Douglas A. McIntyre |

Corning Breaks From Reality Versus Expectations (GLW)

Corning Inc. (NYSE:GLW) is feeling the wrath of a sloppy earnings report today.  The earnings report for the quarter was…

Top Gaining Stocks

Cboe Global Markets
CBOE • Vol: 1,568,143
New Pluto Global
PSKY • Vol: 12,285,993
Seagate Technology
STX • Vol: 7,378,346
Oracle
ORCL • Vol: 26,317,675
Datadog
DDOG • Vol: 6,247,779

Top Losing Stocks

LKQ
LKQ • Vol: 4,367,433
Clorox
CLX • Vol: 13,260,523
Stryker
SYK • Vol: 4,519,455
Mohawk Industries
MHK • Vol: 1,859,865
Amgen
AMGN • Vol: 3,818,618