9 Father's Day Trades

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Father's Day Trade #9: Corning Inc. (GLW)

By Nick Atkeson and Andrew Houghton

Father's Day is about dad, and dad wants a break. He would love nothing more than to sit on the couch and watch Tiger attempt to win the U.S. Open. The U.S. Open would look so good on a brand-new high-def flat-panel TV. And with football season only a few months away, the right viewing equipment is not a want, it's a necessity.

LCD panel sales are up in the midst of investor skepticism and concerns of overbuilding, and analysts expect this better-than-historic growth to continue. Corning (GLW) is in the center of the LCD panel market, manufacturing high-performance displays. In May, GLW management reported stronger-than-expected demand for LCD glass, which led to an upward revision of Q2 sequential volume growth. For Q1, the company reported earnings that doubled expectations (10 cents versus the expected 5 cents) and better-than-expected revenues. Earnings are currently estimated to be 94 cents in fiscal year 2009 and $1.26 in fiscal year 2010. Look to buy GLW when it dips below $15.