Corning (GLW) Stock Advancing After Unveiling Newest Gorilla Glass Model

Corning (GLW) stock is rising in mid-morning trading on Thursday after the company released its new Gorilla Glass 5 product.
By Annie Palmer ,

NEW YORK (TheStreet) -- Shares of Corning (GLW) - Get Report are increasing by 0.19% to $21.65 in mid-morning trading on Thursday, after the Corning, NY-based glass maker announced the release of its Gorilla Glass 5 model.

The newest version of the company's Gorilla Glass product is built to survive cell phone tumbles from waist to shoulder height - the typical elevation from which a selfie might be taken, CNBC reports.

Specifically, the glass is shatterproof up to 80% of the time when dropped from 1.6 meters, compared to Gorilla Glass 4 which was built to survive drops from only about a meter high. 

Over 60% of smartphone owners have dropped their devices between shoulder and waist height, the company said in a statement. 

"With many real-world drops occurring from between waist and shoulder height, we knew improving drop performance would be an important and necessary advancement," said John Bayne, Corning Gorilla Glass' vice president and and general manager, in a statement.

The product is expected to be on product models by later this year. Gorilla Glass is used on more than 4.5 billion devices worldwide, including Apple's (AAPL) iPhone and on the Ford (F) GT Model's windshield, CNet reports. 

Separately, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author. TheStreet Ratings has this to say about the recommendation:

We rate CORNING INC as a Buy with a ratings score of B. This is driven by several positive factors, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures, expanding profit margins and solid stock price performance. We feel its strengths outweigh the fact that the company has had sub par growth in net income.

You can view the full analysis from the report here: GLW

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