Corning Reports Decent Fourth Quarter; Shares Fairly Valued
Corning reported fourth-quarter sales and non-GAAP earnings per share that were slightly better than we anticipated. The growth was largely driven by strong performance in fiber-to-the-home sales in the optical communications segment as well as rapid adoption of Gorilla Glass 5. Additionally, management noted that glass demand grew in the midsingle digits because of growth in average TV sizes, reaffirming our investment thesis. We are encouraged by the outlook for fiscal 2017 as we expect mid-si...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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