Market Update: Corning (NYSE: GLW), NetFlix (NASDAQ: NFLX), Verizon (NYSE: VZ), Microsoft (MSFT)

Corning Inc (NYSE: GLW) posted better than expected quarterly profit on stronger demand for glass for flat screen televisions, and stated it expected that market to grow by 15% next year. Corning, the largest maker of glass for liquid crystal display screens, on said today that third-quarter net income fell to $643 million, or 41 cents a share, from $768 million, or 49 cents a share, a year earlier. Profit came in at 42 cents a share, beating analysts’ view of 39 cents a share. Revenue fell 5 percent to $1.48 billion, but was greater than analysts’ view of $1.42 billion. -Reuters

Sony…

Market Updates: Bank of America (BAC), Microsoft (MSFT), Lowe’s (LOW)

Japan’s Economy Grows; Home Builder Confidence Up; New York Manufacturing Rises; Credit Card Defaults Stabilize in July; MSNBC Buys “Hyperlocal” News Aggregator; Reader’s Digest Files for Bankruptcy; Lowe’s Profit Falls 19%

• Japan’s economy is once again growing, with its gross domestic product (GDP) rising 3.7% in the second quarter. A rebound in exports to China and a large stimulus program helped Japan bounce back from contraction that, at an annualized rate of 11.7%, was more than double that of the United States’ in the first quarter. Officials at Japanese companies think the nation’s worst recession since World War II is nearly…

Can the Yahoo (YHOO) and Microsoft (MSFT) Deal Match Up Against Google (GOOG)?

After months of negotiations, Yahoo Inc. (Nasdaq: YHOO) and Microsoft Corp. (Nasdaq: MSFT) finally formed a search partnership, which could give Microsoft’s newly launched Bing the lift it needs to compete with market leader Google Inc. (Nasdaq: GOOG).

“The reason the deal happened now is the recent success of Bing,” Gartner Inc. (NYSE: IT) analyst Neil MacDonald told The Associated Press. “I think it put pressure on Yahoo, as well as Yahoo not being able to turn around on its own.”

Bing will more than triple its current market share if the deal gets the nod from regulators.

Bing, which as of June held an 8.4%…

Market Updates: Microsoft (MSFT), Apple (AAPL), Deutsche Bank (DB)

Senate Nixes Quick Healthcare Vote; Falling PC Sales Hurt Microsoft’s Bottom Lines; Jobless Claims Rise; Deutsche Raises Apple Outlook on iPhone Sales; Economist: Housing Market Has Hit Bottom; AT&T Profit Falls 15%; McDonald’s Profit Down; 3M Beats Expectations

• Senate Democratic leaders late yesterday (Thursday) abandoned plans for an overhaul of the nation’s $2.4 trillion healthcare system before Congress recesses in August – dealing U.S. President Barack Obama a major political blow. The decision was delivered by U.S. Senate Majority Leader Harry Reid, D-Nev., who said that "it’s better to have a product based on quality and thoughtfulness rather than try to jam something…

Market Updates: Google (GOOG), Microsoft (MSFT), Bank of America (BAC)

Google Revenues, Profits Rise; IBM’s Bumps Margins; Foreclosures Up as Well as Single-Family Homebuilder Confidence; Initial Unemployment Claims Fall to Lowest Level Since January; Sun Shareholders Approve Oracle Merger;

• Google Inc. (Nasdaq: GOOG) saw its revenue grow 3% in its second quarter, which ended on June 30. The Internet search giant reported a net income of $1.4 billion, or $4.66 per diluted share on revenue of $5.5 billion. That compares to a net income of $1.2 billion, or $3.92 per diluted share on revenue of $5.3 billion in the same quarter last year. "These results highlight the enduring strength of our…