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InvestorGuide Stock Analysis

Corning Anticipates Significant Growth in LCD Glass Sales
Excerpt from the InvestorGuide.com Stock of the Day on 6/30/2009

Corning Incorporated (GLW: Charts, News, Offers) announced today that it expects second quarter LCD glass sales to be double its first quarter totals. The specialty glass maker anticipates that demand will continue to improve even into the third quarter. Corning speculated further by adding that third quarter orders will probably surpass the company's manufacturing capabilities. These forecast adjustments are after it predicted a 50% sales increase back in May. What is causing Corning's better-than-expected sales numbers?

Corning Incorporated has been gradually reducing the prices of its LCD glass. These recent price reductions seem to have sparked a surge in flat screen glass demand from manufacturers. Corning has been focused on lowering its glass prices since late last year, and it seems committed to continuing this trend. However, the world's largest maker of liquid-crystal-display glass did admit that its price adjustments this quarter were minor compared to its first quarter price cuts. Corning's latest influx in demand has allowed the company to move remnant inventory from last year's fourth quarter. Corning Incorporated has streamlined its current inventory to a more efficient capacity level now that its left over glass has been accounted for. More >

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Morningstar Analysis for Corning Incorporated

Corning Incorporated (GLW) Upgrades

Date
Analyst
Old Rating
New Rating
10/06/2009
UBS
Neutral
Buy
08/18/2009
Oppenheimer
Market Perform
Outperform
03/23/2009
Citi
Hold
Buy
03/04/2009
Davenport
Neutral
Buy
09/09/2008
Thomas Weisel
Marketweight
Overweight
07/10/2008
Merrill Lynch
Neutral
Buy

Corning Incorporated (GLW) Downgrades

Date
Analyst
Old Rating
New Rating
09/08/2009
ThinkEquity
Buy
Accumulate
04/13/2009
Oppenheimer
Outperform
Perform
04/06/2009
Davenport
Buy
Neutral
01/12/2009
Thomas Weisel
Overweight
Market Weight
11/19/2008
Merrill Lynch
Buy
Neutral
11/18/2008
Davenport
Neutral
Sell

Corning Incorporated (GLW) New Coverage

Date
Analyst
Rating
06/25/2009
Morgan Keegan
Outperform
07/14/2008
Citi
Hold
07/02/2008
Collins Stewart
Buy
06/10/2008
ThinkPanmure
Accumulate
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