Corning 4Q Results Came in Above Expectations; Raising FVE to $30; Shares Fairly Valued
Corning reported better-than-expected fourth-quarter results as it experienced strong growth across its various end markets. The firm’s solid first-quarter and initial 2018 revenue guidance indicate confidence in its optical communications segment, which Corning expects to grow at a double-digit rate. However, it also appears that 2018 margin expansion will be below our original expectation. Further, without excess foreign tax benefits post the changes in U.S. tax laws, Corning will have a highe...Corning is a provider of glass for notebook computers, flat panel desktop monitors, display televisions, and other information display applications; carrier network and enterprise network products for the telecommunications industry; ceramic substrates for gasoline and diesel engines in automotive and heavy duty vehicle markets; laboratory products for the scientific community and specialized polymer products for biotechnology applications; optical materials for the semiconductor industry and the scientific community; and other technologies. The company reportable segments are: Display Technologies, Optical Communications, Environmental Technologies, Specialty Materials and Life Sciences.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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