Corning: Buy or Sell After Q3 Report?

Corning Incorporated GLW issued Q3 numbers yesterday. The market decided to give the stock a boost after digesting the data, but results were somewhat mixed. The press release says that adjusted profit increased over 20% to 51 cents per share. This was in comparison to last year's performance. On a sequential basis, per-share income actually declined 12%. Also, according to this summary from Briefing.com, expectations were set at 52 cents per share. If only the management team could have delivered an extra penny or two. Can't always happen, my investing friends. The 52-week low for Corning is $14.14 while the 52-week high is $21.10. The stock closed Monday's session at a quote of $18.50, good for a gain of 1.2%. In terms of valuation, the company doesn't look expensive. The chart, however, displays what is essentially a trading-vehicle pattern to my eyes. In other words, while I wouldn't want to necessarily play this one for the long-term, I might find the low points of the range attractive for a theoretical quick gain. Continue reading the article.