Corning Looking at Acquisitions: Report

Corning (GLW 16.91, +0.38) is interested in acquisitions and is confident that revenue in its fourth quarter will top $1 billion, according to a report from The Wall Street Journal.

Corning CEO Peter Volanakis told the paper that the company has about $3 billion in cash and is looking at targets across all of its divisions, but isn't in any concrete talks right now.

Volanakis also told The Wall Street Journal that the company expects revenue in the fourth quarter will come in at more than $1 billion -- the First Call consensus expects $1.41 billion.

Corning, which produces glass used in LCD TVs, said the global glass supply remains "very tight" in the fourth quarter and heading into the first quarter.

Shares of GLW are more than 77% higher year-to-date.