Latest news with #Corning
Yahoo
3 days ago
- Business
- Yahoo
3 Reasons to Sell GLW and 1 Stock to Buy Instead
Corning trades at $54.39 per share and has stayed right on track with the overall market, gaining 5.5% over the last six months. At the same time, the S&P 500 has returned 4.1%. Is now the time to buy Corning, or should you be careful about including it in your portfolio? Check out our in-depth research report to see what our analysts have to say, it's free. Why Do We Think Corning Will Underperform? We're cautious about Corning. Here are three reasons why we avoid GLW and a stock we'd rather own. 1. Long-Term Revenue Growth Disappoints Examining a company's long-term performance can provide clues about its quality. Any business can experience short-term success, but top-performing ones enjoy sustained growth for years. Unfortunately, Corning's 5.1% annualized revenue growth over the last five years was tepid. This was below our standard for the industrials sector. 2. Free Cash Flow Margin Dropping If you've followed StockStory for a while, you know we emphasize free cash flow. Why, you ask? We believe that in the end, cash is king, and you can't use accounting profits to pay the bills. As you can see below, Corning's margin dropped by 4.2 percentage points over the last five years. If its declines continue, it could signal increasing investment needs and capital intensity. Corning's free cash flow margin for the trailing 12 months was 9.3%. 3. Previous Growth Initiatives Haven't Impressed Growth gives us insight into a company's long-term potential, but how capital-efficient was that growth? Enter ROIC, a metric showing how much operating profit a company generates relative to the money it has raised (debt and equity). Corning historically did a mediocre job investing in profitable growth initiatives. Its five-year average ROIC was 5.2%, somewhat low compared to the best industrials companies that consistently pump out 20%+. Final Judgment We see the value of companies helping their customers, but in the case of Corning, we're out. That said, the stock currently trades at 22.6× forward P/E (or $54.39 per share). This multiple tells us a lot of good news is priced in - we think other companies feature superior fundamentals at the moment. Let us point you toward a fast-growing restaurant franchise with an A+ ranch dressing sauce. Stocks We Like More Than Corning Trump's April 2024 tariff bombshell triggered a massive market selloff, but stocks have since staged an impressive recovery, leaving those who panic sold on the sidelines. Take advantage of the rebound by checking out our Top 6 Stocks for this week. This is a curated list of our High Quality stocks that have generated a market-beating return of 183% over the last five years (as of March 31st 2025). Stocks that made our list in 2020 include now familiar names such as Nvidia (+1,545% between March 2020 and March 2025) as well as under-the-radar businesses like the once-micro-cap company Tecnoglass (+1,754% five-year return). Find your next big winner with StockStory today. StockStory is growing and hiring equity analyst and marketing roles. Are you a 0 to 1 builder passionate about the markets and AI? See the open roles here.
Engadget
5 days ago
- Business
- Engadget
Corning avoids EU antitrust fine by ending exclusive deals with phone manufacturers
Corning, the US-based glass manufacturer behind Gorilla Glass, has vowed to end its exclusive deals and other practices that the European Commission deemed to be anti-competitive in order to avoid getting fined. If you'll recall, the commission announced that it was investigating Corning last year, accusing it of squashing competition with its exclusive supply agreements, thereby driving up prices and stifling innovation. Now, the commission has accepted the commitments Corning offered and made them legally binding under the EU's rules. When the commission announced its investigation, it said Corning required mobile phone manufacturers to source all or nearly all of their Alkali-AS glass (marketed as Gorilla Glass) needs from the company, even ganting them rebates. Under its agreement with the commission, Corning has to "waive all exclusive dealing clauses in all its current agreements" with phone manufacturers and companies that process raw glass. Corning also won't be allowed to enter exclusive deals in the future. In addition, Corning can't require manufacturers or any of their suppliers to purchase any quantity of Alkali-AS Glass from it in the European Economic Area. Worldwide, Corning can't require manufacturers and their suppliers to purchase more than 50 percent of their needs from the company. Corning's commitment will remain in force for nine years, and a trustee will monitor the company's movements to ensure its compliance. As Reuters has noted, EU fines could cost companies as much as 10 percent of their revenue, but Corning didn't have to pay anything. "The European Commission's investigation has been settled with no fine, no finding of wrongdoing by Corning, and no material impact to the company's Gorilla Glass business or the company at large," the Gorilla Glass-maker told Bloomberg in a statement.
Time of India
5 days ago
- Business
- Time of India
Corning staves off antitrust fine as EU regulators accept concessions to mobile phone makers
By Foo Yun Chee BRUSSELS: EU antitrust regulators on Friday accepted glass maker Corning 's offer to waive exclusive deals with mobile phone makers and glass processing companies and scrap purchasing clauses to end an eight-month long investigation and stave off a possible fine. The U.S. company, which sells a break resistant glass used as a cover for mobile phones, tablets and smart watches under the Gorilla Glass brand, counts Samsung , Sony , Google, HP, Dell and Nokia as its customers. Apple is reportedly a customer too. Corning submitted concessions to the European Commission in November last year. Corning has now agreed "to waive all exclusive dealing clauses in all its current agreements with OEMs (original equipement makers) and finishers", the EU antitrust enforcer said in a statement. It will also not require OEMs to purchase, or cause their supply chain to purchase, more than 50% of their demand from the company. The offer is valid for 9 years. EU antitrust violations can cause companies as much as 10% of their turnover.
Yahoo
6 days ago
- Business
- Yahoo
Corning staves off antitrust fine as EU regulators accept concessions to mobile phone makers
By Foo Yun Chee BRUSSELS (Reuters) -EU antitrust regulators on Friday accepted glass maker Corning's offer to waive exclusive deals with mobile phone makers and glass processing companies and scrap purchasing clauses to end an eight-month long investigation and stave off a possible fine. The U.S. company, which sells a break resistant glass used as a cover for mobile phones, tablets and smart watches under the Gorilla Glass brand, counts Samsung, Sony, Google, HP, Dell and Nokia as its customers. Apple is reportedly a customer too. Corning submitted concessions to the European Commission in November last year. Corning has now agreed "to waive all exclusive dealing clauses in all its current agreements with OEMs (original equipement makers) and finishers", the EU antitrust enforcer said in a statement. It will also not require OEMs to purchase, or cause their supply chain to purchase, more than 50% of their demand from the company. The offer is valid for 9 years. EU antitrust violations can cause companies as much as 10% of their turnover. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
The Star
6 days ago
- Business
- The Star
Corning staves off antitrust fine as EU regulators accept concessions to mobile phone makers
BRUSSELS (Reuters) -EU antitrust regulators on Friday accepted glass maker Corning's offer to waive exclusive deals with mobile phone makers and glass processing companies and scrap purchasing clauses to end an eight-month long investigation and stave off a possible fine. The U.S. company, which sells a break resistant glass used as a cover for mobile phones, tablets and smart watches under the Gorilla Glass brand, counts Samsung, Sony, Google, HP, Dell and Nokia as its customers. Apple is reportedly a customer too. Corning submitted concessions to the European Commission in November last year. Corning has now agreed "to waive all exclusive dealing clauses in all its current agreements with OEMs (original equipement makers) and finishers", the EU antitrust enforcer said in a statement. It will also not require OEMs to purchase, or cause their supply chain to purchase, more than 50% of their demand from the company. The offer is valid for 9 years. EU antitrust violations can cause companies as much as 10% of their turnover. (Reporting by Foo Yun Chee)
