Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : YEEHAW CANDIDATES -- Ignore unavailable to you. Want to Upgrade?

To: Galirayo who wrote (7484)	4/25/2005 6:09:46 PM
From: Sergio H	Read Replies (1) \| Respond to of 23958

GLW reports tomorrow. Looks good. From WSJ last week: Kraken at will! Corning Raises Guidance By ROGER CHENG DOW JONES NEWSWIRES April 19, 2005; Page B3 Corning Inc. said its first-quarter earnings will exceed earlier forecasts, driven by higher demand for equipment related to phone companies' fiber rollout and strong performance from its chemical business. The Corning, N.Y., company, which specializes in glass and fiber-optics products, said it expects earnings of 16 cents to 17 cents a share, excluding restructuring and other charges, and a gain from an asbestos settlement. That`s significantly higher than its earlier outlook for earnings of 11 cents to 13 cents a share. Corning shares rose 5% to $11.53 in early trading Monday morning on the New York Stock Exchange. The company said sales will range from $1.04 billion to $1.05 billion, up from its previous forecast of $980 million to $1.03 billion. It also expects its first-quarter tax rate will fall below its previous expectations. Some of the improved performance comes from Verizon Communications Inc.'s decision to roll out its fiber-optics network closer to the home. Corning is seeing improved demand for hardware and equipment related to the project. The Baby Bell's decision to upgrade to an all-fiber network will allow it to dramatically increase data transfer speeds and allow for new services such as video. While the other Bells are implementing similar projects, Verizon's actually goes directly to each home. Verizon also represents Corning's largest customer in the fiber-rollout business. Corning also attributed the higher earnings expectations to improved performance in Dow Corning Corp., its joint venture with Dow Chemical Co., in which each owns a 50% stake. The joint venture is a supplier of silicone and chemical-related products. Corning said volume and pricing of optical fiber and liquid crystal display glass will be within earlier guidance for the quarter. In March, Corning said sequentially, optical fiber volume could fall as much as 10% in the first quarter, with a price drop of less than 5%. At the time, Corning said it still expected its total LCD glass volume, including its half of Samsung Corning Precision Glass Co., a South Korean joint venture with Samsung Electronics Co., to climb 5% to 10% sequentially while prices will be about 5% lower.