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Corning Inc Stock Symbol: GLW-N

Notes:A Major player in fibre optics

Last Price Recorded: $30.0300 on 2017-09-20

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Date Signal Expert Opinion Price
2017-08-11 BUY on WEAKNESS Darren Sissons

A very flat revenue line relative to most technology companies. The reason is that most of the volatility in earnings comes via joint ventures. The joint ventures, in many cases, is 50-50, where they own less than 51%. By owning less than 51%, it comes as an equity earning, so you need to look at the equity line. He feels this is very expensive. The US$ is making it a little cheaper.


Price:
$28.980
Subject:
GLOBAL EQUITIES & TECHNOLOGY
Bias:
UNKNOWN
Owned:
No
2017-05-16 COMMENT Lorne Steinberg

This is really a technology company in glass. They made their name in fiber-optic cables during the .com era, and when that fell apart, their glass business took off. They make gorilla glass for iPhones and high end TVs. The company is sitting with a cash pile and have been buying back stock. This remains very undervalued. He continues to see huge upside with this company.


Price:
$29.600
Subject:
Global Value & High Yield Bonds
Bias:
UNKNOWN
Owned:
Yes
2017-01-17 COMMENT David Dietze

Great company and has done a wonderful job over the decades, morphing from an old-line glass company into something that is really in the Tech mainstream. To the extent that there are some deemed protectionist policies promoted by Trump, he wonders what that does to a company like this, because so much of their business is global. There could be some real volatility.


Price:
$24.190
Subject:
US EQUITIES
Bias:
CAUTIOUS
Owned:
Unknown
2016-08-08 PAST TOP PICK Lorne Steinberg

(A Top Pick Oct 5/15. Up 31.92%.) This was famous for fibre optics, and now they are famous for making Gorilla Glass for the iPhone, TVs, etc. This came back after the whole .com thing. They always stuck with their businesses. Just sold their holding in Dow Corning for almost $5 billion, and are sitting with a ton of cash. Buying back massive amounts of stock. Earnings are growing at double digits. Huge free cash flow and is extremely cheap. Thinks the stock is worth about $30 a share.


Price:
$22.800
Subject:
VALUE STOCKS & HIGH YIELD BONDS
Bias:
BEARISH on BONDS
Owned:
Yes
2016-05-24 SELL Jennifer Radman

(Market Call Minute.)


Price:
$20.090
Subject:
US LARGE
Bias:
UNKNOWN
Owned:
Unknown
2015-10-14 DON'T BUY Barry Schwartz

It screens well on valuation and generates a lot of free cash flow, but it was not his best idea.  The high growth is over for them. 


Price:
$17.000
Subject:
NORTH AMERICAN - LARGE
Bias:
OPTIMISTIC
Owned:
No
2015-10-05 TOP PICK Lorne Steinberg

That gorilla glass is on high end TV sets and on fiber optics.  They are in high end ceramics and high end glass.  They have net cash on the balance sheet, great free cash flow, and a great growth curve ahead of them over the next 10 years.


Price:
$17.640
Subject:
DEEP VALUE GLOBAL EQUITIES
Bias:
SELECTIVE
Owned:
Yes
2015-08-19 PAST TOP PICK Norman Levine

(A Top Pick Aug 1/14. Down 9.05%.) Had bought this at about $12 and sold it this year at $21+. Whether he gets back in is highly dependent on LCD screens and TV production and also on fibre.


Price:
$17.740
Subject:
NORTH AMERICAN - LARGE
Bias:
CAUTIOUS
Owned:
No
2015-07-22 SELL Gordon Reid

Did a deal with Samsung where they bought out their joint venture and gave the company quite a boost. A lot of the products that this company is involved with can be commoditized. Whenever that happens, you tend to find that you sell more of it, but at a lower price. As an investor, that is not a great place to be.


Price:
$18.780
Subject:
US EQUITIES
Bias:
UNKNOWN
Owned:
Unknown
2015-07-15 TOP PICK Don Lato

The view on this depends on what your thoughts are about 4K TVs. Merrill Lynch says 4K TV is not coming out anytime soon and you should not be in this company. RBC is a believer in 4K TV as the next driver of the earnings growth for this company. As you see companies like Netflix and Amazon producing more and more of their content with 4K capabilities, it is going to bring on demand. Prices are coming down to not much more than a regular LCD TV, which will probably kick up the next leg of television purchases. This is where this company does 40% of their business. Dividend yield of 2.52%.


Price:
$19.060
Subject:
NORTH AMERICAN
Bias:
OPTIMISTIC
Owned:
Yes
2015-05-26 DON'T BUY Norman Levine

Sold his position in the last few weeks. In the near to medium term it has probably seen its best.


Price:
$21.210
Subject:
NORTH AMERICAN - LARGE
Bias:
UNKNOWN
Owned:
No
2015-04-30 COMMENT Hap (Robert) Sneddon FCSI

The one area he would be concerned with is when it gets below the $20 level, because that is going to bring in the $17 support level pretty quickly. The technicals target for this was $25, which it hit, and then rolled right off it beautifully. He would look at getting out at $21. If it gets above $45, then you buy some more.


Price:
$20.930
Subject:
TECHNICAL ANALYSIS & MACRO STRATEGY
Bias:
UNKNOWN
Owned:
Unknown
2015-02-25 DON'T BUY Gordon Reid

Has always resisted this because of his fear of a commoditization, i.e., falling prices. In the LCD world we have seen that. This company has done well because they have been smart in running their business. Based on a valuation level and his fear, he wouldn’t Buy this one.


Price:
$24.600
Subject:
US EQUITIES
Bias:
BULLISH
Owned:
No
2015-02-24 PAST TOP PICK Prakash Hariharan

(A Top Pick Nov 4/14. Up 20.4%.) The rationale was its whole exposure to Gorilla Glass, and now the new business, potentially automobiles and other businesses that they are getting exposure to. Good dividend name with power to grow.


Price:
$24.780
Subject:
GLOBAL EQUITIES & DIVIDEND PAYING STOCKS
Bias:
OPTIMISTIC
Owned:
Yes
2015-02-10 HOLD Christine Poole

Earnings are starting to revise upwards, because there is a thought out there that a lot of TVs will need to be replaced in the next year or 2. “Estimated price earnings” is nearly 16.


Price:
$24.850
Subject:
NORTH AMERICAN - LARGE
Bias:
BULLISH
Owned:
No
2015-02-03 TOP PICK Darren Sissons

We are starting to see the US economy starting to strengthen, so there are replacement cycles on TVs, phones, cars, etc. Also, Europeans are banking on fibre optics. Very strong balance sheet. Progressively growing its dividend. Has had a decent run, but he sees more upside.


Price:
$24.350
Subject:
GLOBAL LARGE
Bias:
CAUTIOUS
Owned:
Yes
2014-11-04 TOP PICK Prakash Hariharan

There are a few things that line up for this company. It has had a big call option on Apple (AAPL-Q) for a while in terms of iPhone 6, etc with its Gorilla Glass. One of its competitors, Sapphire Group, pulled out. Dividend quality and dividend coverage and Price to Book, compared to its peer group, is trading at a huge discount. Thinks there is a catch up in terms of the value proposition that the stock offers over the next 1-2 years. Dividend yield of 1.95%.


Price:
$20.680
Subject:
GLOBAL DIVIDEND
Bias:
UNKNOWN
Owned:
Unknown
2014-11-03 BUY Norman Levine

Sees lots of upside.  Gorilla glass.  iPhone 6 stayed with it.  There is a replacement cycle in LCD TVs.


Price:
$20.550
Subject:
NORTH AMERICAN - LARGE
Bias:
CAUTIOUS
Owned:
Unknown
2014-10-29 COMMENT Don Lato

Reacted reasonably well to its earnings announcements. Stock had been weaker for the last 3-4 months on talk of Apple (AAPL-Q) gravitating more and more to Sapphire, but that didn't happen. That should be a boost for the company who makes the Gorilla glass that goes in the iPhone and iPad. Still relatively cheap at about 13X next year's earnings. Still ample growth here. Yield of 2%.


Price:
$19.890
Subject:
NORTH AMERICAN
Bias:
BULLISH
Owned:
Yes
2014-10-09 TOP PICK Darren Sissons

The recession deferred a lot of aging TV replacements, so there is going to start to be a replacement cycle in terms of new TVs. This will probably occurs 1st in the US and then as the global economy broadens out, there will be opportunities in other parts of the globe. Also their main competitor for gorilla glass just declared bankruptcy so there should be higher or more stable prices. Very strong balance sheet. Yield of 2.15%.


Price:
$18.580
Subject:
GLOBAL LARGE
Bias:
OPTIMISTIC
Owned:
Yes
2014-09-29 PAST TOP PICK Norman Levine

(Top Pick Sep 3/13, Up 43.66%) Gorilla glass is only one part. They are big in fiber optics.  LCD screens are doing well again as they don’t last as long as the old fashion ones did.  Dividend grew 3 times in the last year.


Price:
$19.550
Subject:
NORTH AMERICAN - LARGE
Bias:
BEARISH
Owned:
Yes
2014-09-05 PAST TOP PICK Norman Levine

(Top Pick Sep 3/13, Up 56.14%) It was out of favour when he recommended it.  Liked their exposure to fiber optics and LCD screens.  LCD TVs don’t last as long as the old tube TVs so you replace them sooner.  We are entering a replacement cycle.


Price:
$21.290
Subject:
NORTH AMERICAN - LARGE
Bias:
BULLISH on GLOBAL STOCKS
Owned:
Yes
2014-08-28 COMMENT Don Lato

A very solid company. They make Gorrilla glass. One of his concerns is the Sapphire Surfaces, but he doesn’t think the Sapphire Surface is going to be in the iPhone as it is expensive.


Price:
$20.570
Subject:
NORTH AMERICAN
Bias:
OPTIMISTIC
Owned:
Yes
2014-08-19 SELL Christine Poole

Tough competition.  Touch tablet is the growth area, but uses much less glass than TVs.  She would take profits now.


Price:
$20.340
Subject:
NORTH AMERICAN - LARGE
Bias:
BULLISH on NORTH AMERICAN ECONOMY
Owned:
No
2014-08-14 BUY Patrick Horan

There is a pull back on the glass side due to a consolidation on the wireless side in the US.  They don’t want to commit to any capital spending.  Long term this is a very good company and he likes the space.  Probably a good entry point from a seasonality standpoint.


Price:
$20.240
Subject:
NORTH AMERICAN
Bias:
BULL on US EQUITIES
Owned:
Unknown
2014-08-01 TOP PICK Norman Levine

Stock has been on fire until the last week or so, when they reported their earnings and sales were a bit disappointing. They are in a number of businesses, but all the market seems to care about is a product called Gorilla Glass. There are worries that when Apple (AAPL-Q) comes out with its new iPhone, it will switch from Gorilla Glass to Sapphire Glass. The market is fixated on Gorilla Glass and ignores its other businesses, such as LCD screens, etc.


Price:
$19.880
Subject:
NORTH AMERICAN - LARGE
Bias:
UNKNOWN
Owned:
Yes
2014-06-26 DON'T BUY Gordon Reid

Did a deal last November and bought out the partnership with Samsung and got more flexibility.  The difficulty is that they continually come back to a commoditized product.  They are a better story than a year ago, however.


Price:
$21.750
Subject:
US EQUITIES
Bias:
CAUTIOUS
Owned:
Unknown
2014-03-17 PARTIAL SELL Gavin Graham

To a certain extent, the rise in the stock is reflecting the enthusiasm for growth stories in technology and obviously Gorilla Glass is one of the better ones. The stock is only where it was 3-4 years ago. It may not be a bad idea to take some profits if you have done well over the last year.


Price:
$19.130
Subject:
GLOBAL & NORTH AMERICAN LARGE
Bias:
CAUTIOUS
Owned:
Unknown
2014-03-06 PAST TOP PICK Darren Sissons

(Top Pick Feb 13/13, Up 57.84%) Supplies products that are needed.  Balance sheet is fantastic.  Raised dividend three times in the last 20 months.  Year over year sales gains are propelling the stock.  It will continue to do well.


Price:
$19.540
Subject:
GLOBAL LARGE
Bias:
CONTRARIAN
Owned:
Yes
2014-01-30 BUY Darren Sissons

Has a very, very strong balance sheet, such that it has raised its dividend 3 times in the last 18 months. Bought back $1.5 billion of its shares and have announced another share buyback. Now collapsing the joint venture with Samsung which ultimately leads to an additional $500 million of free cash flow. They are effectively swimming in capital. Ultimately, the display business is a little soft at the moment. US and European recoveries will mean new TV replacements.


Price:
$17.380
Subject:
GLOBAL LARGE
Bias:
UNKNOWN
Owned:
Unknown
2013-12-03 BUY Irwin Michael, B.Com, MBA

This is a large cap.  He tends to go for smaller.  He bought it and management turned the company around.  He views it as industrial rather than high tech, despite their glass for handhelds.  It might even be in play.  Have about 2000 patents.


Price:
$16.780
Subject:
VALUE
Bias:
SELECTIVE
Owned:
Unknown
2013-11-29 COMMENT Brian Acker, CA

Has a model price of $31.69, and 85% upside. They just need to establish some good earnings and that there is a confidence level in their earnings. If the CEO can simplify the company and give us a good level of confidence on their earnings, the stock will go substantially higher.


Price:
$17.080
Subject:
NORTH AMERICAN - LARGE
Bias:
BULLISH
Owned:
Unknown
2013-11-11 HOLD Patrick Horan

They do physical fibre optics. If you want something growthier, you could look at JDS Uniphase (JDSU-Q) that makes the components and test equipment or Exfo (EXF-T) that is a leader in test equipment globally. They haven’t done as well as Corning, but he expects them to do better over the next 3-4 years. This one is a fine stock to hold and has a good management team. Have technological leadership.


Price:
$16.590
Subject:
NORTH AMERICAN
Bias:
BULLISH
Owned:
Unknown
2013-10-29 SELL Christine Poole

(Market Call Minute) Sell post the announcement of that acquisition with Samsung.


Price:
$17.510
Subject:
NORTH AMERICAN - LARGE
Bias:
BULLISH
Owned:
No
2013-10-28 DON'T BUY Ian Ainsworth

Fairly mature business.  Their recent deal is highly accretive, but their mix of revenues is even more mature.  He thinks that this company does not pass his growth criteria.


Price:
$17.300
Subject:
GROWTH & TECHNOLOGY
Bias:
BULLISH on CANADIAN MARKET
Owned:
Unknown
2013-10-16 TOP PICK Norman Levine

Makes fiber, solar, medical products and LCD+phone screens.  Bottomed and doing better.  Raise dividend three times in the last year.


Price:
$14.420
Subject:
NORTH AMERICAN - LARGE
Bias:
BULLISH on EUROPE
Owned:
Yes
2013-10-09 DON'T BUY Barry Schwartz

This keeps popping up but it s very commodity business and there are a lot of competitors.  If it fell with the market it could be a good opportunity but he is not looking at it right now.  It is too volatile.


Price:
$14.010
Subject:
NORTH AMERICAN - LARGE
Bias:
BULLISH on CANADIAN MARKET
Owned:
No
2013-10-04 DON'T BUY Gordon Reid

Difficulty here is that their products continue to get commoditized. They have a headwind, which is that the price of their product continues to fall. Volumes are rising. Growth is low.


Price:
$14.630
Subject:
US EQUITIES
Bias:
OPTIMISTIC
Owned:
Unknown
2013-09-20 BUY Irwin Michael, B.Com, MBA

Had bought this as a deep value US company. Primarily known for its Gorilla glass, which is used virtually in everything. Very well run company. Terrific balance sheet. Pays a good dividend. His target is $18-$20. Could be a takeover target because of all of its patents.


Price:
$14.670
Subject:
VALUE
Bias:
BULLISH
Owned:
Yes
2013-09-03 TOP PICK Norman Levine

LCD TV market is recovering. Also, put a lot of glass into solar energy equipment. Also, big in telecommunications. As fibre to the home grows, they are probably the biggest player in this. All of their businesses have been doing iffy but are doing better. Strong balance sheet and has increased its dividends 3 times in the past 18 months. Yield of 2.85%.


Price:
$13.920
Subject:
NORTH AMERICAN - LARGE
Bias:
BULLISH
Owned:
Yes
2013-07-17 DON'T BUY Gordon Reid

Has always been challenged because it is commoditized. They continue to produce more volume and better products but, at the end of the day, if the price of your product continually falls it is just a brutal wind in your face.


Price:
$14.820
Subject:
US EQUITIES
Bias:
BULLISH
Owned:
No
2013-05-27 WAIT Larry Berman CFA, CMT, CTA

Had a phenomenal run, a stock he likes, very high and he would have trouble chasing it unless it fell back to its break-out area.


Price:
$15.660
Subject:
NORTH AMERICAN - LARGE & ETFs
Bias:
UNKNOWN
Owned:
Unknown
2013-04-30 BUY Lorne Steinberg

Their big business is glass for television sets, phones and they still make fibre-optic cable. Incredibly cheap. Never recovered from the DOT COM period although amazingly transitioned into high end glass which is definitely a growth business as screens get larger and larger and the world shifts to smart phones. Margins are improving. This will be a double digits earnings story for the next few years.


Price:
$14.500
Subject:
VALUE STOCKS & HIGH YIELD BONDS
Bias:
BULLISH on FOREIGN
Owned:
Yes
2013-04-24 PAST TOP PICK Darren Sissons

(A Top Pick April 12/12. Up 3.58%.) Average TV in houses is growing larger. Introducing a new black screen technology, which used to be used by fighter pilots. Last year they acquired a big laboratory asset which will be accretive to earnings. Raised its dividend 3 times in the last 18 months. Has also been buying back shares.


Price:
$13.850
Subject:
GLOBAL
Bias:
OPTIMISTIC
Owned:
Yes
2013-04-11 DON'T BUY Gordon Reid

They come out with great products but unfortunately the products have tended to become commoditized. As much as they can make hay on the volume side, they are losing on the pricing side so it is a little difficult to get traction.


Price:
$13.370
Subject:
US EQUITIES
Bias:
OPTIMISTIC
Owned:
Unknown
2013-04-02 DON'T BUY Mark Grammer

Gorilla glass is a very profitable product for them. They are dominant in glass manufacturing. The issue for them is the weakening yen, which helps their competitors. This industry is difficult and he can find better growth elsewhere.


Price:
$13.330
Subject:
GLOBAL
Bias:
BULL on US & International
Owned:
No
2013-03-15 PAST TOP PICK Norman Levine

(A Top Pick March 20/12. Down 5.77%.) The areas of glass that they are most leveraged to are fibre optics and LCD TVs. He expects the LCD business to start to pick up.


Price:
$12.920
Subject:
NORTH AMERICAN - LARGE
Bias:
BULLISH
Owned:
Yes
2013-03-13 DON'T BUY Gordon Reid

This whole industry is becoming commoditized so prices are dropping at a fairly fast clip even though volumes are rising. Have great technologies including Gorrilla glass and Willow glass. Great products, but they don’t have the pricing power.


Price:
$12.640
Subject:
US EQUITIES
Bias:
BULLISH
Owned:
Unknown
2013-03-01 TOP PICK Irwin Michael, B.Com, MBA

Stock is a bit of a conundrum. He struggles to find deep value stocks and, invariably, they are small to midcap with a lot of market disdain. This one is a large cap with an $18 billion market cap. Has free cash flow of over $500 million and trades well below tangible book. Dividend of 2.86%.


Price:
$12.590
Subject:
VALUE
Bias:
SELECTIVE
Owned:
Yes
2013-02-13 TOP PICK Darren Sissons

(A Top Pick March 1/12. Down 0.55%.) Gorilla glass sold $1 billion last year and they are now looking for industrial applications such as sun roofs in cars. Fibre to the home is being driven on the back of much more data been pushed through the system. Its 3 big engines of growth are all structured through joint ventures. As income goes through the joint ventures, they only own 49% of them so volatility will be lower than you see with tech companies. Has a progressive dividend and they bought back $1.5 billion of stock.


Price:
$12.780
Subject:
GLOBAL
Bias:
BULLISH
Owned:
Yes
2012-12-31 BUY Bill Carrigan

Building a bit of a base.  He favours this one.


Price:
$12.620
Subject:
TECHNICAL ANALYSIS
Bias:
BEARISH
Owned:
Unknown
2012-12-20 PAST TOP PICK Darren Sissons

(Top Pick Apr 12/12, Down 4.87%)


Price:
$12.790
Subject:
GLOBAL LARGE
Bias:
SELECTIVE
Owned:
Yes
2012-12-19 DON'T BUY Gordon Reid

They continue to do well in terms of usage, but they suffer from commoditization of their product.  He has stayed clear.  They will be a leader in their industry but how profitable? 


Price:
$12.770
Subject:
US EQUITIES
Bias:
BULLISH on US MARKET
Owned:
Unknown
2012-11-20 PAST TOP PICK Darren Sissons

(Top Pick Mar 1/12, Down 11.80%)  There was an over-supply in the glass business.  Q1 tends to run for Tech.  It looks like capacity has been taken out of the system and we are seeing stability in the glass pricing.  As the US starts to recover you will start to get TV purchasing.


Price:
$11.180
Subject:
GLOBAL LARGE
Bias:
SELECTIVE
Owned:
Yes
2012-11-13 DON'T BUY Christine Poole

Make the glass for big TVs.  There has been an oversupply in the industry.  This is not a name she is interested in.  Anyone who wants a flat panel TV has one and the kids only watch on their tablet, handheld or laptop.


Price:
$11.160
Subject:
NORTH AMERICAN - LARGE
Bias:
CAUTIOUS
Owned:
No
2012-10-18 WAIT Hap (Robert) Sneddon FCSI

Made a bottom in the end of 2011 and has made a lower bottom which is not good. If it could get above around $15, it would probably do wonders for the stock.


Price:
$13.740
Subject:
TECHNICAL ANALYSIS
Bias:
UNKNOWN
Owned:
Unknown
2012-10-05 PAST TOP PICK Brian Acker, CA

(A Top Pick Oct 11/11. Down 0.11%.)


Price:
$13.300
Subject:
NORTH AMERICAN - LARGE
Bias:
CAUTIOUS
Owned:
Unknown
2012-09-14 PAST TOP PICK Darren Sissons

(A To Pick April 12/13. Down 3.98%.)


Price:
$13.120
Subject:
GLOBAL LARGE
Bias:
DEFENSIVE
Owned:
Yes
2012-08-22 DON'T BUY Gordon Reid

This is a stock that looks very appealing as it is trading at a very low multiple but what is happening is that glass is becoming commoditized and margins are getting squeezed.


Price:
$11.730
Subject:
US EQUITIES
Bias:
UNKNOWN
Owned:
Unknown
2012-08-14 TOP PICK Darren Sissons

(Top Pick Mar 11/12, Down 10.51%) Play on smart phone and tablet world.  He likes it because every one of its major markets are bottom of the cycle.  Buy back, tons of cash. All divisions should recover by 2-3 years.  Expecting a recovery in consumer demand including housing demand, and suspects TV sales will slowly improve.  3% dividend and a buy back.  He would be buying all the way up to $13.  The bottom has been hit on TV sales, which is the headlines that this one moves to.


Price:
$11.520
Subject:
GLOBAL LARGE
Bias:
BEARISH on the EURO
Owned:
Yes
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