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☆ Corning CEO Wendell Weeks on Q3 results: Cyclical and secular trends are driving our growth
▼ + stars: | 2024-10-30 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCorning CEO Wendell Weeks on Q3 results: Cyclical and secular trends are driving our growthCorning CEO Wendell Weeks joins 'Squawk Box' to discuss the company's quarterly earnings results, the company's multi-year agreement with AT&T to expand fiber and cable networks, and more.

Persons: Wendell Weeks Organizations: Email

☆ CNBC Daily Open: Are markets too optimistic?
▼ + stars: | 2024-07-09 | by ( Abid Ali | ) www.cnbc.com time to read: +3 min

This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. While open to collaboration, Elliott plans to give shareholders a say in leadership changes if the board remains unresponsive. Despite selling $379 million worth of bitcoin in recent weeks, Germany's Federal Criminal Police Office still holds roughly 32,488 bitcoins — worth around $1.9 billion at today's prices. Japan stocks hit record highJapan's export-heavy Nikkei 225 as well as the broader Topix hit record highs amid a broader rise in Asia-Pacific markets.

Persons: Beryl, Elliott, Elliott Management, Bob Jordan, Gary Kelly, Corning, We've, Wendell Weeks Organizations: New York Stock Exchange, CNBC, Nasdaq, Apple, Nvidia, Dow Jones, Treasury, Southwest Airlines, Police, Federal Criminal Police, National Australia Bank, CSI Locations: New York City, U.S, Saxony, Japan, Asia, Pacific, Al

☆ CNBC Daily Open: Are markets overly optimistic?
▼ + stars: | 2024-07-09 | by ( Abid Ali | ) www.cnbc.com time to read: +3 min

Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., December 1, 2023. This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. While open to collaboration, Elliott plans to give shareholders a say in leadership changes if the board remains unresponsive. Despite selling $379 million worth of bitcoin in recent weeks, Germany's Federal Criminal Police Office still holds roughly 32,488 bitcoins — worth around $1.9 billion at today's prices.

Persons: Beryl, Elliott, Elliott Management, Bob Jordan, Gary Kelly, Corning, We've, Wendell Weeks, Max Organizations: New York Stock Exchange, CNBC, Nasdaq, Apple, Nvidia, Dow Jones, Treasury, Southwest Airlines, Police, Federal Criminal Police, Boeing, Wall Locations: New York City, U.S, Saxony, Texas

☆ Corning CEO Wendell Weeks on raising Q2 guidance: See both cyclical and secular trends converging
▼ + stars: | 2024-07-08 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCorning CEO Wendell Weeks on raising Q2 guidance: See both cyclical and secular trends convergingCorning CEO and chairman Wendell Weeks joins 'Squawk Box' to discuss the company raising its Q2 guidance, impact of AI, growth outlook, and more.

Persons: Wendell Weeks Organizations: Email, Corning

☆ Corning shares pop 12% as AI boom drives stronger-than-expected demand for equipment
▼ + stars: | 2024-07-08 | by ( Katie Bartlett | ) www.cnbc.com time to read: +1 min

Corning shares are up more than 12% Monday after the company raised its second-quarter guidance, setting it on track for its best trading day since March 2020. Corning expects second-quarter sales of $3.6 billion, up from previous guidance of $3.4 billion. Weeks said in a release that second-quarter earnings are also expected to mark a return to year-over-year growth. The company expects first-quarter sales, which declined 6% year over year, to be the lowest of the year. Corning said it will report second-quarter 2024 results on July 30, 2024.

Persons: Corning, Apple iPhones, We've, Wendell Weeks, Weeks Organizations: Apple

☆ Biden set to meet with executives from Citi, United Airlines, Marriott and others
▼ + stars: | 2024-05-07 | by ( Rebecca Picciotto | ) www.cnbc.com time to read: +2 min

US President Joe Biden speaks about his Investing in America agenda at the Wilmington Convention Center in Wilmington, North Carolina, on May 2, 2024. President Joe Biden is set to meet Tuesday afternoon with a slate of executives from a variety of industries, some of which have been the targets of his regulatory agenda. The guest list includes United Airlines CEO Scott Kirby, Citi CEO Jane Fraser, Evercore founder and senior chairman Roger Altman, Marriott International CEO Anthony Capuano, Flex CEO Revathi Advaithi, Bechtel Group CEO Brendan Bechtel, former Xerox CEO Ursula Burns and Corning CEO Wendell Weeks, according to a White House official. Biden is planning to discuss his "strategy of investing in America and rebuilding international alliances," the official said in a statement. And as part of a broader siege against what Biden calls "junk fees," the White House has issued rules prohibiting certain fees from airlines and credit card companies.

Persons: Joe Biden, Scott Kirby, Jane Fraser, Roger Altman, Anthony Capuano, Revathi Advaithi, Brendan Bechtel, Ursula Burns, Corning, Wendell Weeks, Biden Organizations: Wilmington Convention, United Airlines, Citi, Marriott International, Flex, Bechtel, Xerox, White, Federal Trade Commission, Department Locations: Wilmington, Wilmington , North Carolina, America

☆ Corning's shares fall as the Apple supplier forecasts Q4 core sales below estimates
▼ + stars: | 2023-10-24 | by ( ) www.reuters.com time to read: +2 min

Shares of Corning, whose Gorilla Glass is used by the likes of Samsung (005930.KS) and Apple (AAPL.O), fell nearly 4% before the bell. The company expects core sales of about $3.25 billion in the three months through December, compared with analysts' estimate of $3.56 billion, according to LSEG data. In the third quarter, its core sales fell by about 6% to $3.46 billion, missing estimates of $3.50 billion. The optical communications unit, one of Corning's main revenue generators, saw its net sales decline by more than 30%. The company forecast fourth-quarter core earnings of between 37 cents and 42 cents per share, below estimates of 50 cents per share.

Persons: Brendan McDermid, Wendell Weeks, Corning, Arsheeya, Milla Nissi Organizations: Corning Inc, New York Stock Exchange, REUTERS, Samsung, Apple, Counterpoint Research, Thomson Locations: New York, U.S, Corning, Bengaluru

☆ 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

☆ 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.

☆ Apple glass supplier Corning warns smartphone sales down 14%
▼ + stars: | 2022-10-25 | by ( Kif Leswing | ) www.cnbc.com time to read: +2 min

For Gorilla Glass, Corning narrows down the number of compositions to a few dozen, does more melting, then picks two or three candidates to test. Corning stock fell over 4% on Tuesday morning after the company reported a weaker-than-expected outlook for the current quarter, blaming slow smartphone glass sales. Corning makes a variety of different components and supplies many of the top electronics companies, like Samsung and Apple, which reports earnings this week amid concern over slowing consumer electronics sales. But there is optimism that slowing electronics sales won't hurt the high-end of the market as much as less expensive devices. In the quarter ending in September, Corning saw smartphone unit sales decline 14% on an annual basis, and tablet and notebook demand fall 17%, Corning CEO Wendell Weeks said on an earnings call.

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