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☆ Beware these stocks lurking in your portfolio as China economy wobbles
▼ + stars: | 2023-08-15 | by ( Alex Harring | ) www.cnbc.com time to read: +3 min

Turmoil in the Chinese economy can mean bad news for a range of popular stocks. And the global superpower has flashed warning signs in recent days, signaling stocks with exposure to the country could feel pressure. In May, Morgan Stanley screened for publicly traded companies in the U.S. with the highest share of revenue connected to China. Other stocks to watch To be sure, exposure to China extends beyond the semi landscape. Battery manufacturer Microvast was the most exposed with 80% of revenue coming from China, Morgan Stanley's analysis found.

Persons: Morgan Stanley, Baird, Microvast, Morgan, Wynn, — CNBC's Michael Bloom Organizations: Reuters, Nvidia, UBS, Marvell Technology, Silicon Laboratories, Devices, Qualcomm, Wynn Resorts, Vegas, Street, Las Vegas Sands, Western Locations: China, Beijing, U.S, Refinitiv, Wells Fargo, Vegas, Las Vegas, Corning

☆ Analysis: While AI takes the spotlight, infrastructure stocks shine
▼ + stars: | 2023-08-04 | by ( Chuck Mikolajczak | ) www.reuters.com time to read: +4 min

A trader works on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., July 26, 2023. Nvidia (NVDA.O) shares have surged almost 205% year to date, while Meta Platforms (META.O) has surged about 160% as investors anticipate the potential AI may unlock. That spending has led investors to search for stocks that will reap the benefits of the boost in spending in construction and engineering. "You have to look harder at these companies about what their end market really is, even though they're in a sector." Reporting by Chuck Mikolajczak; additional reporting by Lance Tupper, Editing by Louise HeavensOur Standards: The Thomson Reuters Trust Principles.

Persons: Brendan McDermid, Kim Forrest, Morgan Stanley, hasn’t, Bryant VanCronkhite, VanCronkhite, Owens Corning, Forrest, Chuck Mikolajczak, Lance Tupper, Louise Heavens Organizations: New York Stock Exchange, REUTERS, Nvidia, Meta, Bokeh Capital Partners, Infrastructure Investment, Jobs, Allspring Global Investments, Reuters, Vulcan, Thomson Locations: New York City, U.S, Pittsburgh, Menomonee Falls , Wisconsin

☆ Here are Thursday's biggest analyst calls: Apple, Rivian, Roku, Meta, Coinbase, Carvana, Boeing and more
▼ + stars: | 2023-07-27 | by ( Michael Bloom | ) www.cnbc.com time to read: +5 min

Bank of America reiterates Roku as buy Bank of America said it's bullish heading into Roku earnings Thursday. Bank of America reiterates Mattel as buy Bank of America said it's standing by shares of Mattel after its earnings report, adding that "Barbie" should help drive toy sales. Bank of America upgrades Boeing to buy from neutral Bank of America said the worst for Boeing is behind it. Bank of America downgrades RTX to neutral from buy Bank of America downgraded the company formerly known as Raytheon and said it's concerned about slowing margins. Bank of America downgrades SunPower to underperform from neutral The firm said in its downgrade of the stock that it sees multiple headwinds.

Persons: Roku, it's, Needham, Rivian, Bernstein, KeyBanc, Morgan Stanley downgrades Carvana, Morgan Stanley, Jefferies, Estée Lauder, billings, Wells, Wells Fargo Organizations: . Bank of America, Bank of America, Apple, RBC, Owens, Mattel, Boeing, of America, downgrades, Pacific, Barclays, Raytheon, Labs Locations: China, Pacific

☆ Apple supplier Corning Q3 revenue forecast hit by consumer electronics slump
▼ + stars: | 2023-07-25 | by ( ) www.reuters.com time to read: +2 min

July 25 (Reuters) - Specialty glass maker Corning (GLW.N) forecast third-quarter core sales below Wall Street estimates on Tuesday, as it grapples with the ongoing slump in the consumer electronics market. Corning said it expects core sales of about $3.5 billion in the three months ending September, compared with analysts' estimates of $3.70 billion, according to data from Refinitiv. Shares of Corning, whose Gorilla glass for smartphones is used by companies such as Apple (AAPL.O) and Samsung Electronics (005930.KS), were down nearly 1.5% before the bell. "We expect to continue improving profitability and cash flow despite our relatively muted sales environment," said CEO Wendell Weeks. Corning posted an adjusted profit of 45 cents per share, just short of the 46 cents estimated by analysts.

Persons: Corning, Wendell Weeks, Jaspreet Singh, Krishna Chandra Organizations: Refinitiv, Apple, Samsung Electronics, Thomson Locations: Corning, Bengaluru

☆ Morning Bid: Big Tech litmus test as Fed gather
▼ + stars: | 2023-07-25 | by ( ) www.reuters.com time to read: +4 min

The wider blue-chip CSI 300 Index (.CSI300) snapped a six-day losing streak to pop 3% and buying from state banks propped the yuan. Both oil and Treasury yields gave back some of those gains again today, however, with year-on-year crude price declines still tracking more than 21%. There was little ostensible reaction to the formal rebalancing of the Nasdaq 100 (.NDX) index that pared weightings of several of the big caps to reduce "over-concentration". The approach of Wednesday's Fed decision may limit market moves until then. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Mike Dolan, sagged, Dow Jones bluechips, Alphabet's, Clark, Chubb, Paccar, Sherwin, Williams, Archer, Ed Osmond Organizations: Big Tech, Microsoft, Federal Reserve, European Central Bank, ebbing, Nasdaq, Google, Texas, NextEra Energy, Visa, GE, GM, Dow, Verizon, Universal Health, Daniels, Richmond Fed, Philadelphia Fed, Federal, Market, Monetary Fund, Treasury, Reuters, Thomson Locations: U.S, Hong, Europe, China, Danaher, Corning, Kimberly, Biogen, Dover, Nucor, Midland

☆ What we hope to see from 9 Club stocks out with earnings in the week ahead
▼ + stars: | 2023-07-22 | by ( Zev Fima | ) www.cnbc.com time to read: +14 min

Looking to next week, earnings season will ramp up — and though we'll get some important economic data, expect the corporate releases and management commentary on the post-game calls to be firmly in the driver's seat. Here are two important things to know for the week ahead. Quarterly earnings : As important as economic releases are, it's earnings that will garner the bulk of investors' attention. For those looking to review first-quarter performance ahead of these releases, keep our first-quarter earnings report card handy. Here's the full rundown of all the important domestic data in the week ahead.

Persons: Dow, we'll, we've, Lawrence Yun, Jerome Powell's, Sartorius, Sartorius preannounced, It's, management's, We'll, Tesla, Ford's, Sherwin, Williams, Archer, Clark, Lam, Edwards Lifesciences, Hewlett, Northrop, Dr Pepper, Davidson, Jim Cramer's, Jim Cramer, Jim, Spencer Platt Organizations: Nasdaq, Economic, National Association of Realtors, Nine, GE Healthcare, Microsoft, YouTube, Linde, LIN, Honeywell, Aerospace, Technologies, Ford, Procter & Gamble, Dynex, HBT, Hope Bancorp, NXP Semiconductors, Cadence Design Systems, Whirlpool, Logitech International, Liberty Global, Verizon Communications, General Motors, General Electric, GE, Spotify, Raytheon Technologies, Daniels, Midland, Albertsons Companies, ACI, Polaris Industries, Inc, Dow Chemical, DOW, Xerox, Texas Instruments, WM, Canadian National Railway Company, Chubb Corporation, Universal Health Services, Powell, Boeing, Hilton, Union Pacific, General Dynamics, Quest Diagnostics, Otis Worldwide, Grill, Lam Research, eBay, EBAY, Mattel, Hewlett Packard, L3Harris Technologies, Gross, Royal Caribbean Cruises, Southwest Airlines, Mastercard, Myers Squibb, Northrop Grumman, Hertz, Tractor Supply Company, HCA Healthcare, Boston, Hershey, Comcast, Harley, Norfolk Southern, Intel, Mobile, United States Steel Corp, KLA Corporation, Boston Beer Company, Nation Entertainment, Texas, Procter, Gamble, Exxon Mobil, Chevron, Charter Communications, AstraZeneca, Colgate, Palmolive, Newell Brands, Sanofi, Dwight, Jim Cramer's Charitable, CNBC, New York Stock Exchange, Getty Locations: U.S, Hollywood, Cleveland, Corning, Kimberly, Bristol, Norfolk

☆ China's sagging economy looms over quarterly results around the world
▼ + stars: | 2023-07-20 | by ( Noel Randewich | ) www.reuters.com time to read: +4 min

July 20 (Reuters) - China's frail growth could weigh on companies with exposure to the world's second-largest economy, including Apple (AAPL.O), big chipmakers and luxury retailers as they report quarterly results in the next few weeks. China accounted for 36% of NXP's revenue last year and half of Texas Instruments' revenue. Analysts estimate NXP reporting a 3.2% drop in quarterly revenue, with Texas Instruments' revenue tumbling 16%, which would be its steepest drop since 2009, according to Refinitiv. The specialty glass maker blamed "anticipated recession-level demand" for weak results in its previous quarterly report last April. Coffee maker Starbucks (SBUX.O) in May reported quarterly results that beat estimates, powered by recovering demand in China.

Persons: Ross Mayfield, Baird, Cartier, Richemont, Bernstein, Tesla, Jonathan Golub, hobble, David Klink, Noel Randewich, Chavi Mehta, Caroline Valetkovitch, Mimosa Spencer, David Gaffen, Nick Zieminski Organizations: Apple, U.S, Shanghai, ABB, HK, NXP Semiconductors, Texas, Texas Instruments, . Credit Suisse Chief, Equity, Corning Inc, Samsung Electronics, Huntington Private Bank, Reuters, Thomson Locations: China, U.S, Swiss, Asia, ., China . U.S, Washington, Beijing, Oakland , California, Bangalore, New York, Paris

☆ Post-it maker 3M is in danger of coming unstuck
▼ + stars: | 2023-07-19 | by ( Jeffrey Goldfarb | ) www.reuters.com time to read: +10 min

There will be up to $1.5 billion of costs related to separating the health care business, 3M has said. Its interest cover, after backing out estimated operating income from health care, would fall to about 4 times from 11 times. And its net debt, using all these assumptions and excluding the health care division, would swell to nearly 5 times EBITDA from less than 2 times. Back out $2.5 billion from health care, as estimated by the Morgan Stanley team, and $1.5 billion of capital expenditure costs noted by Wolfe Research. For example, the water settlement, as drafted, only envisions $4.6 billion of outlays through 2025, and the rest over the ensuing 11 years.

Persons: Mike Roman, Roman, Sackler, Johnson, Aearo, ”, Morgan Stanley, Smith, Nephew, Lauren Silva Laughlin, Streisand Neto Organizations: YORK, Reuters, U.S . Environmental, Purdue Pharma’s, Association of Metropolitan Water Agencies, Bayer, Monsanto, Aearo Technologies, Partners, Honeywell International, Siemens, 3M, Refinitiv, Reuters Graphics, Wolfe Research, Thomson Locations: . Oregon, Republic, Corning

☆ Bet on these stocks to beat the Street with earnings season about to kick off, says Bank of America
▼ + stars: | 2023-07-11 | by ( Fred Imbert | ) www.cnbc.com time to read: +2 min

The outlook for this earnings season looks bleak, but Bank of America thinks there are some companies that can still deliver upside surprises. The season kicks off this week, with banking giants JPMorgan Chase , Wells Fargo and Citigroup set to report. BofA screened the S & P 500 for companies most likely to beat consensus earnings expectations. To find these names, the bank used this criteria: BofA earnings estimate above the Street consensus. Companies that beat earnings per share and revenue during the last reporting season.

Persons: Wells, BofA, SolarEdge, Julien Dumoulin, Smith, — CNBC's Michael Bloom Organizations: Bank of America, JPMorgan Chase, Citigroup, Delta Air Lines, PepsiCo, Meta, United Rentals, Corning Locations: Wells Fargo, Horton

☆ Stocks making the biggest moves midday: Cava, Domino's Pizza, Kroger, Lennar and more
▼ + stars: | 2023-06-15 | by ( Michelle Fox | ) www.cnbc.com time to read: +4 min

The Wall Street firm said it believes there will be "significant improvement" in the company's return on invested capital over the next two to three years. Domino's Pizza — The pizza chain gained 6.46% after Stifel upgraded the stock to buy from hold. The Wall Street firm said investors should buy the weakness in Target shares, which are down 15% over the past month. The Wall Street firm said it was bullish long term, but believes the stock price has been seeing appreciation much stronger than experienced in the broader market. The Wall Street firm also boosted its price target to $40 from $36, suggesting upside of more than 20% from Wednesday's close.

Persons: Kroger —, Kroger, Rodney McMullen, Bernstein, Lennar, Oppenheimer, Corning, John Wiley, Mizuho, Patterson, Morgan Stanley, Yun Li, Alex Harring, Jesse Pound, Sarah Min Organizations: New York Stock Exchange, Cava Group, Deutsche Bank, Stifel, —, Technologies, Corning —, Citi, Corning, Management, UTI Energy, Patterson Locations: Wednesday's

☆ Stocks making the biggest moves before the bell: American Express, Domino's, Coinbase and more
▼ + stars: | 2023-06-15 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

Cognyte Software — Shares rose 5.6% in the premarket following the software company's quarterly report. American Express — Shares of the credit card company dipped 2% in premarket trading after Citi warned that credit card spending trends have slowed. Citi opened a negative catalyst watch for American Express, warning that travel and entertainment categories are slowing more sharply than other categories. SoFi — Shares slid 4% after Oppenheimer downgraded the financial technology stock to perform from outperform. Zions Bancorp — The bank stock slid 1.4% in the premarket.

Persons: Cognyte, Wall, Aldeyra, Mizuho, SoFi, Oppenheimer, Janney, —, Sarah Min, Michelle Fox, Jesse Pound Organizations: FactSet, Therapeutics, Citi, American Express, Stifel, Corning, Zions Bancorp, Bancorp Locations: Wednesday's

Citi says it has "greater conviction" in Corning 's margin recovery potential. Analyst Asiya Merchant upgraded the glass maker's shares to buy from neutral. She also raised her price target to $40 from $36, implying shares rallying more than 20% from Wednesday's close. A 20% price increase in the company's display segment offerings will help offset incremental costs and foreign exchange headwinds, helping the company's margin expansion targets, the analyst said. Merchant noted near-term demand recovery in the optical market remains uncertain.

Persons: Asiya, Merchant, — CNBC's Michael Bloom Organizations: Citi, Asiya Merchant, Auto Locations: Corning, Wednesday's

☆ Here are Thursday's biggest analyst calls: Nvidia, Tesla, Chipotle, Chevron, Netflix, Meta, Target and more
▼ + stars: | 2023-06-15 | by ( Michael Bloom | ) www.cnbc.com time to read: +9 min

Bernstein reiterates Target as outperform Bernstein said investors should buy the weakness in Target shares. UBS reiterates Chipotle as buy UBS said the Mexican chain is "well positioned w/ drivers to support transaction and sales growth." RBC reiterates Tesla as outperform RBC raised its price target to $305 per share from $212 and said it's bullish on Tesla's autonomy future. " TD Cowen reiterates Netflix as outperform TD Cowen raised its price target on the stock to $500 per share from $440 and says it's well-positioned. UBS reiterates Chevron as buy UBS said it sees "balance sheet strength & dividend growth" for Chevron.

Persons: Evercore, it's bullish, Emerson, Bernstein, Mizuho, Coinbase, Moody's, Guggenheim, McDonald's, Chipotle, Morgan Stanley, Goldman Sachs, Goldman, Wells, Wells Fargo, Tesla, it's, Oppenheimer, SoFi, Uber, Jefferies, TD Cowen, NFLX, Cowen, Stifel Organizations: ISI, Energy & Materials, Livent, HSBC, Emerson, " Bank of America, P, Bank of America, Citi, American Express Citi, American, Citi Credit Card, Travel & Entertainment, RBC, Nvidia, UBS, Mobile, Diageo, Spirits, Deutsche Bank, JPMorgan, Microsoft, Netflix, Corning, Chevron, Meta, DR Locations: Mexican, Allegiant, Edgewater

☆ Why the new bull market is headed for more Fed stress after a rate hike pause
▼ + stars: | 2023-06-11 | by ( Natalie Rose Goldberg | ) www.cnbc.com time to read: +10 min

And even if the Fed does pause, Ferguson says it doesn't mean that more rate hikes aren't coming over the rest of the year. He isn't alone in the view that a Fed pause won't last long. This view is underpinned by, among other things, a labor market that continues to be tight. Others see recent cooling the labor market as a signal the Fed may soon have more need to moderate its rate hike strategy. "The broad picture here is the labor market is cooling in a sustainable way.

Persons: Savita Subramanian, Roger Ferguson, That's, Ferguson, CNBC's, isn't, Michelle Girard, Steve Liesman, Dennis Lockhart, Lockhart, Fed's, Jerome Powell, Brendan McDermid, — Ferguson, Wharton, Jeremy Siegel, Siegel, Jerome Powell's, Rucha Vankudre, Nick Bunker, Bunker, Goldman Sachs, David Solomon —, Solomon, Goldman, Frederic Mishkin, it's, Mishkin, we've Organizations: Federal Reserve, Dow Jones, NASDAQ, Bank of America, Fed, NatWest Markets, Atlanta Fed, Traders, New York Stock Exchange, CNBC, Conference Board, Labor, Lightcast, Former Fed, Bank of Canada, Reserve Bank of Australia Locations: U.S

☆ Lightning Round: I've given up on Plug Power, too many disappointments and too many strikes
▼ + stars: | 2023-06-09 | by ( Jim Cramer | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailLightning Round: I've given up on Plug Power, too many disappointments and too many strikes'Mad Money' host Jim Cramer weighs in on stocks including: Plug Power, Nuscale Power, Lyondell, Novocure, Eaton, Reality Income, Owens Corning and Symbotic.

Persons: Jim Cramer, Owens Corning Locations: Novocure, Eaton, Symbotic

☆ Here are Friday's biggest analyst calls: Apple, Netflix, Target, Tesla, Corning, Adobe, Meta & more
▼ + stars: | 2023-06-09 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

Wells Fargo upgrades Adobe to overweight from equal weight Wells said it's bullish on the company's AI opportunity. Morgan Stanley reiterates General Motors as overweight Morgan Stanley said GM and Tesla's charging agreement could be a game changer. Morgan Stanley reiterates Carvana as equal weight Morgan Stanley said it's getting a little more constructive on the stock after the company announced improved second-quarter guidance. " Loop reiterates Best Buy as buy Loop said Best Buy could be a long-term beneficiary of virtual reality after Apple announced its launch earlier this week. Morgan Stanley upgrades Corning to overweight from equal weight Morgan Stanley said in its upgrade of the glass company that it sees an attractive risk/reward.

Persons: Tesla, Wells, it's bullish, Morgan Stanley, KeyBanc, Key, Carvana, it's, Roth, Mgmt, Jefferies, Archer, EVEX, Ulta, Corning, Guggenheim Organizations: UBS, Motors, GM, Apple, Citi, Target, Walmart, Netflix, Apple Vision, Meta, Embraer, BMO, Microsoft, Nike Locations: WMT

☆ Stocks making the biggest moves premarket: Target, Tesla, General Motors, DocuSign and more
▼ + stars: | 2023-06-09 | by ( Brian Evans | ) www.cnbc.com time to read: +2 min

Check out the companies making headlines in premarket trading. Tesla , General Motors -- Both carmaker stocks were climbing in premarket trading, with gains of 5.7% and 5%, respectively. General Motors announced on Thursday plans to utilize Tesla's electric vehicle charging network, and said its vehicles will also utilize Tesla's North American Charging Standard port in its cars starting in 2025. Nio — Shares of the electric vehicle company dipped 2% in premarket trading after it reported that vehicle sales decreased 0.2% year over year. The company's vehicle margin and net loss also worsened year over year.

Persons: Corning, Morgan Stanley, Wells, Sonoma, —, Macheel, Jesse Pound Organizations: Target Corp, General Motors, Adobe, Citi, Sonoma Pharmaceuticals Locations: Queens, New York, Europe, U.S

☆ Morgan Stanley says this materials stock can rally nearly 20% as earnings outlook improves
▼ + stars: | 2023-06-09 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

Corning could be due for a bounce as the potential for earnings upside enters the realm of possibility, according to Morgan Stanley. Analyst Meta Marshall upgraded the glass materials maker to overweight from equal weight and raised her price target by $3 to $38. But after three straight negative revisions, Marshall said consensus estimates for Corning's earnings are now considered within the realm of being achieved. And Corning's valuation also creates an attractive entry point, as Marshall said she expects the rally to the price target once estimates get revised up in the fourth quarter. For the rest of 2023, Meta said the most optionality comes from improvements in the fiber business's order trends.

Persons: Corning, Morgan Stanley, Meta Marshall, Marshall, Meta, it's, — CNBC's Michael Bloom Locations: Japan

☆ Cramer's Lightning Round: Stay away from Novocure
▼ + stars: | 2023-06-08 | by ( Julie Coleman | ) www.cnbc.com time to read: +1 min

Stock Chart Icon Stock chart icon Plug Power's year-to-date stock performance. Stock Chart Icon Stock chart icon Nuscale Power's year-to-date stock performance. Stock Chart Icon Stock chart icon LyondellBasell's year-to-date stock performance. Stock Chart Icon Stock chart icon Novocure's year-to-date stock performance. Stock Chart Icon Stock chart icon Eaton's year-to-date stock performance.

Persons: they've, Nuscale, Eaton, Owens, Owens Corning Locations: Eaton

Investors will look for clues on whether inflation is continuing to ease following the Labor Department's consumer price index (CPI) report on Wednesday. Shares of PayPal Holdings (PYPL.O) dropped and pressured the benchmark S&P 500 after the company cut its margin forecast. Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., May 4, 2023. Under Armour Inc (UAA.N) fell 5.66% as the sports apparel maker forecast its annual sales and profit below street expectations. The S&P 500 posted 14 new 52-week highs and 14 new lows; the Nasdaq Composite recorded 77 new highs and 171 new lows.

Shares of PayPal Holdings (PYPL.O) dropped 12% and led declines on the benchmark S&P 500 index (.SPX) after the company cut its margin forecast. They were also among the top drags on the Nasdaq Composite index (.IXIC). Shares of other Apple suppliers including Qualcomm (QCOM.O), Broadcom (AVGO.O), Qorvo (QRVO.O) and Corning (GLW.N) fell between 1.2% to 2%. The action-packed week will see the release of the much-awaited inflation data on Wednesday. The S&P index recorded 13 new 52-week highs and 12 new lows, while the Nasdaq recorded 52 new highs and 130 new lows.

Shares of PayPal Holdings (PYPL.O) dropped 10.5% and led declines on the benchmark S&P 500 index (.SPX) after the company cut its margin forecast. They were also among the top drags on the Nasdaq Composite index (.IXIC). Shares of other Apple suppliers including Qualcomm (QCOM.O), Broadcom (AVGO.O), Qorvo (QRVO.O) and Corning (GLW.N) fell between 0.9% to 2%. That weighed on shares of high-growth companies, including Apple Inc (AAPL.O) and Microsoft Corp (MSFT.O), which fell about 0.3% each. The S&P index recorded six new 52-week highs and 10 new lows, while the Nasdaq recorded 20 new highs and 54 new lows.

[1/4] South Korean President Yoon Suk Yeol delivers remarks to the U.S.-Korea Business Council at the U.S. Chamber of Commerce in Washington, D.C., U.S., April 25, 2023. He said the two countries' economies had been facing new challenges and the economic slowdown was unsettling the investment environment. "Competition for technological hegemony, energy issues and climate crises are casting more uncertainties on business activity day by day," Yoon said. "This cooperation should extend beyond semiconductors to future emerging technologies such as AI, Quantum, SMR (Small Modular Reactors) and more," Yoon said. Core technologies from the United States and South Korea's advanced manufacturing capabilities would "create enormous synergies that will benefit both countries," he said.

☆ Apple supplier Corning rides on price hikes to beat profit estimates
▼ + stars: | 2023-04-25 | by ( ) www.reuters.com time to read: +2 min

April 25 (Reuters) - Specialty glass maker Corning Inc (GLW.N) beat profit estimates for the first quarter on Tuesday as price hikes more than made up for higher raw material costs and a demand slowdown. Corning's core sales fell 10% to $3.37 billion in the first quarter, but they were better than estimates of $3.34 billion. Revenue from its optical communications division fell 6% during the quarter, while sales in specialty materials business, which makes Gorilla glass, declined 18%. Corning said it expects net sales between $3.4 billion and $3.6 billion for the second quarter, compared with analysts' estimate of $3.58 billion. Reporting by Tiyashi Datta in Bengaluru; Editing by Krishna Chandra Eluri and Shounak DasguptaOur Standards: The Thomson Reuters Trust Principles.

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