Corning (GLW) beats the street, guides better

Corning beat the street on all operating metrics on strength in glass, telecom and earnings from Dow Corning. They're saying glass demand is at the high end of their expectations and they raise their capex to 1.8 - 2.0 bil from 1.5 - 1.7 bil. Interest income was lower but whose isn't?

Next quarter's guidance is above the street at 1.71 - 1.75 bil and eps of .47 - .50 and their commentary is that they see rising LCD panel demand in the notebook and digital television markets and no signs of inventory problems at customers.

I would expect the LCD environment continues to be friendly for the time being as there's an FCC mandate to switch off the analog television broadcast signals and a forced upgrade of the American public as a result. Also, they're purty. Do you expect people to watch their Grand Theft Auto IV strip show without a flat panel? What are you, an animal?