Important Updates for Investors
Carla Pasternak's Premiere Issue of High-Yield International Just
Released
Income expert Carla Pasternak's debut issue of High-Yield
International covers a Taiwanese manufacturer yielding 9.5%... a
rare Mexican monopoly yielding 13.4%... and other top-performing
investments yielding up to 19.0%.
Government's Biofuel Timetable Could Spell +15,900% Growth
+15,900% growth might seem far-fetched... but it's not. In fact, it
is mandated by law. And I've identified the ONLY stock positioned to
capture this growth.
The
Silver Lining to a Falling Dollar
Despite the U.S. national debt, there is a silver lining for income
investors. This massive spending, combined with movement out of U.S.
Treasuries, is going to take its toll on the dollar, and
international income investors could reap the rewards in the form of
higher dividends. |
|
|
|
|
After a Recent Run, Shares of Corning (GLW) Still
Offer Great Value |
Published:
October 18,
2007
Corning (NYSE: GLW, $25.46) is a 150-year-old company that
is involved in some of today's most exciting cutting-edge
technologies.
In the 1870s, the company developed the glass used in Thomas
Edison's first light bulb. Around the time of World War I, it
engineered "PYREX" -- a highly durable brand of heat-resistant
cookware. And in later years, it was instrumental in
advancements like the television cathode ray tube (CRT) and even
designed the surface of the Hubbell telescope.
Today, Corning is best known for the glass substrates used to
make liquid crystal displays (LCD). In fact, the company
dominates 50% of the global market for the thin glass panels
used in computer monitors and televisions. While this division
represents almost half of the firm's revenues, Corning does have
a stake in a number of other fast-growing fields as well.
In fact, the company is actively involved in four broad lines of
business that encompass areas such as fiber optics, diesel
engine pollution control, and scientific laboratory instruments.
And through its 50% ownership stake in Dow Corning, the firm
boasts more than 7,000 silicone-based products that run the
gamut from fuel additives to solar power cells. In short,
Corning's products have hundreds of applications and are used in
everything from astronomy to aerospace defense.
Though the company struggled mightily after the tech bubble
popped several years ago, it has since mounted a powerful
comeback and strengthened its balance sheet. In fact, Corning
now sports $1.7 billion in cash (net of debt) on the books. And
while its business is somewhat capital intensive, the company
still generated in excess of $600 million in free cash flow last
year.
As a result, management has had the confidence to reinstate its
quarterly dividend payments (which were discontinued in 2001)
and is also diligently buying back shares. And looking ahead, we
see further good news on the horizon.
Thanks in part to the proliferation of high-definition (HD)
televisions, management is forecasting volume growth of up to
+40% in the global LCD market this year. Furthermore, stricter
government emission standards should help fuel widespread
adoption of the firm's diesel engine products.
And on the telecom front, Corning's bendable fiber (which can be
bent around corners with no signal loss) is expected to be a
"game changing" breakthrough -- opening up high-speed voice,
Internet, and HDTV to millions of residences around the world.
Already, key service providers like Verizon (NYSE: VZ) have
expressed interest.
Despite rallying +40% so far this year, GLW is still
trading at a reasonable price-to-earnings-to-growth (PEG) ratio
of about 1.0. And based on our fair value calculation of $32, the
stock has the potential to gain about +26%. Given the explosive
growth expected in some of its core markets, it wouldn't
surprise us to see the shares march even higher.Good investing!
|
Nathan Slaughter
Editor
Half-Priced Stocks, The ETF Authority
|
| To receive
in-depth guidance on today's leading value opportunities, plus educational guidance, please subscribe to
Nathan Slaughter's premium value investing newsletter --
Half-Priced
Stocks |
|
|
|
Investing Doesn't Get Any Easier Than This |
Stock picker Amy
Calistri's strategy is as simple as investing gets -- just one idea
a month designed to make money in today's market. Invest this way
and you don't have to worry about oil prices, automaker bailouts, or
what the Fed is up to -- because every "bad" economic development
actually helps some investment or another.Your investing life can
get a lot simpler -- starting today.
Go here to learn about Amy's simple investing strategy.
|
|
|
