Black Friday, as the day after Thanksgiving has come to be known, is the day when most retailers get themselves back into the black. It is also a bargain-hunter's delight. In the age of Internet, several websites emerged dedicated to helping shoppers decide in front of which store to pitch their tents. One of those sites, GottADeal.com, has reportedly landed Target's (TGT) Black Friday ad. Target, it appears, is taking a rather aggressive approach to the upcoming Holiday shopping season.

According to the website, the retailer will offer a 32-inch Westinghouse LCD HDTV for $246, which GottADeal.com's founder Brad Olson calls the "lowest price that we've ever seen for that model." The ad also touts $3 toasters and coffeemakers, and 50% discount on kids' clothes and toys.

Corning (NYSE: GLW - option chain) stock is falling today after the company said that an earthquake in Honshu yesterday disrupted production at its LCD glass manufacturing facility in Shizuoka, Japan. GLW expects the earthquake to reduce third-quarter revenue by up to $65 million. If you think this stock won't be rising too far in the coming months, then it could be a good time to look at a bearish hedged play on GLW.

This morning, GLW opened at $16.08. So far today the stock has hit a low of $15.80 and a high of $16.15. As of 11:25, GLW is trading at $15.94, down $0.44 (-2.7%). The chart for GLW looks neutral and S&P gives GLW a neutral 3 STARS (out of 5) hold ranking.

Panasonic, the main American subsidiary of Matsushita Electric Industrial Co.(NYSE:MC) is getting serious about its bet on the next generation of televisions. Panasonic is going with what's known as OEL (organic electroluminescent) or OLED (Organic Light Emitting Diode) TVs. They're vastly thinner---less than a quarter of an inch---and are supposed to faster, sharper and use less energy. (Some have disputed the last point.) But they could wear out quicker than other TVs, and by organic they just mean carbon based.

Sony (NYSE: SNE) already has the lead in the a OLED TV market. But Sony's TV is only 11 inches and it costs $2,500. They plan to release a 27-inch version "fairly soon," according to this blog dedicated to OLED. Matsushita---which is changing its name to Panasonic come fall---is planning a 37-inch screen for around $1,400, according to Reuters, which was picking the story up from the Japanese newspaper Sankei Shimbun. But that's still years away.

Toshiba (TOSBF) is also working on one, but suffered some delays. Samsung just announced they were investing $530 million in OLED production. There have been plenty of delays in this OLED technology--almost as many as there have been with the rival technology SED (surface-conduction electron-emitter display). Toshiba and Canon (NYSE:CAJ)is the big backers of SED TVs. After years of delays the battle for the next, thinnest TV is heating up.

Applied Materials Inc. (NASDAQ: AMAT) shares are rising after the market has gotten some positive news for companies connected to LCD TVs. Circuit City (NYSE: CC) CEO Philip Schoonover predicted in an interview with the AP that 2008 will see high growth in TV sales as a result of the FCC's mandate that broadcasters switch to digital format in February 2009. This could be good news for AMAT, which makes equipment to fabricate thin film transistor LCDs for televisions. If you think that the company won't fall by too much in the coming months, then now could be a good time to look at a bullish hedged trade on AMAT.

After hitting a one-year high of $23.00 in August, the stock hit a one-year low of $16.13 in January. AMAT opened this morning at $20.28. So far today the stock has hit a low of $20.23 and a high of $20.45. As of 12:15, AMAT is trading at $20.35, up 26 cents (1.3%). The chart for AMAT looks bullish and steady, while S&P gives the stock a positive 4 STARS (out of 5) buy rating.

For a bullish hedged play on this stock, I would consider a July bull-put credit spread below the $16 range. A bull-put credit spread is an options position that combines the purchase and sale of put options to hedge risk in case the stock doesn't do what you think but still leverage nice returns. This particular trade will make an 11.1% return in just four and a half months as long as AMAT is above $16 at July expiration. Applied Materials would have to fall by more than 21% before we would start to lose money.

AMAT hasn't been below $16 at all in the past year and has shown support around $19 recently. This trade could be risky if the economic situation continues to worsen, but even if that happens, this position could be protected by the support the stock might find at its 50-day moving average, which is around $18 and rising.

Brent Archer is an options analyst and writer at Investors Observer. At publication time, Brent neither owns nor controls positions in AMAT or CC.

Sony Corp. (NYSE: SNE) shares are rising today on news from the Wall Street Journal that it beat its rivals over the holiday season and shipped the highest number of LCD TVs (subscription required) . SNE took a 12.8% share of North American LCD TV sales in the October-December period, according to Texas-based research firm DisplaySearch. However, the data, combined with disappointing earnings by the TV manufacturers, shows that continued price volatility has hurt profitability for these firms even as sales have grown. If you think that the company won't fall by too much in the coming months, then now could be a good time to look at a bullish hedged trade on SNE.

After hitting a one-year high of $59.84 in May, the stock hit a one-year low of $42.80 yesterday. SNE opened this morning at $43.70. So far today the stock has hit a low of $43.64 and a high of $44.16. As of 10:25, SNE is trading at $44.10, up $1.28 (3.0%). The chart for SNE looks bearish and steady, while S&P gives the stock a neutral 3 STARS (out of 5) hold rating.

For a bullish hedged play on this stock, I would consider an April bull-put credit spread below the $35 range. A bull-put credit spread is an options position that combines the purchase and sale of put options to hedge risk in case the stock doesn't do what you think but still leverage nice returns. For this particular trade, we will make a 6.4% return in just ten weeks as long as SNE is above $35 at April expiration. Sony would have to fall by more than 20% before we would start to lose money.

SNE hasn't been below $42 at all in the past year. This trade could be risky if the economy continues to sour, but even if that happens, this position could be protected by any more good news on the consumer electronics front.

Brent Archer is an options analyst and writer at Investors Observer. At publication time, Brent neither owns nor controls positions in SNE.

Corning Inc. (NYSE: GLW) shares are rising today, getting a boost from Samsung, who announced that its profit from LCD televisions tripled to a record high. Samsung also announced that it expects even more growth in LCD earnings in 2008. This could be great news for GLW, a leading producer of glass substrates for liquid crystal displays used in LCD TVs. If you think that the company won't fall by too much in the coming months, then now could be a good time to look at a bullish hedged trade on GLW.

After hitting a one-year low of $18.60 last January, the stock hit a one-year high of $27.25 in July. GLW opened this morning at $23.01. So far today the stock has hit a low of $23.00 and a high of $23.72. As of 10:35, GLW is trading at $23.40, up 15 cents(0.6%). The chart for GLW looks bearish but improving slightly, while S&P gives the stock a very positive 5 STARS (out of 5) strong buy rating.

For a bullish hedged play on this stock, I would consider a February bull-put credit spread below the $20 range. A bull-put credit spread is an options position that combines the purchase and sale of put options to hedge risk in case the stock doesn't do what you think but still leverage nice returns. For this particular trade, we will make an 8.7% return in just one month as long as GLW is above $20 at February expiration. Corning would have to fall by more than 14% before we would start to lose money. Learn more about this type of trade here.

GLW hasn't been below $20 since last January and has shown support around $21.75 recently. This trade could be risky if the sour feeling surrounding consumer spending-related stocks carries GLW downward over the next month, but even if that happens, this position could be protected by the support the stock might find around $22, where GLW bounced twice over the past three months.

Brent Archer is an options analyst and writer at Investors Observer.

DISCLOSURE: Mr. Archer owns and/or controls diversified portfolios of long and short stock and option positions that may include holdings in companies he writes about. At publication time, Brent neither owns nor controls positions in GLW.

Indicating reduced profitability in the video display market, Fujitsu (OTC: FJTSY) has announced its departure from the production of high end plasma televisions. This news comes via ars technica and is indicative of a major trending pattern. Much is astir among Japanese electronics manufacturers as companies there take a turn for the lean and are engaged in forming manufacturing power alliances.

Much is being affected by the near total domination of liquid crystal display technology within a tightening, yet deepening image display sector. Take further evidence of change by considering Brian White's post about the exit from rear projection television by Sony Corp. (NYSE: SNE). The LCD field is currently saturated and for it's improvement it needs to thin out.

Strides are still being made in regard to making LCD displays thinner and engineers are working on reducing power consumption. Little can be done however, to improve LCD profitability with so many companies cranking out cheap displays. What's needed now is for some of the remaining display manufacturers to aggressively address some considerable quality issues.

Gary Sattler does not knowingly hold financial interest in the companies he blogs about.

Corning Inc. (NYSE: GLW) shares are rising today after Taiwanese LCD manufacturer AU Optronics (NYSE: AUO) said this morning that there could be a global supply shortage of LCDs next year as more consumers want to buy LCD televisions. An official with AU said supply is expected to grow by 22-25% in 2008, while demand could increase by 28-30%. GLW should also be a beneficiary of increased demand for LCDs. If you think that the company won't fall by too much in the coming months, then now could be a good time to look at a bullish hedged trade on GLW.

After hitting a one-year low of $18.12 in January, the stock hit a one-year high of $27.25 in July. GLW opened this morning at $24.34. So far today the stock has hit a low of $24.03 and a high of $24.41. As of 11:20, GLW is trading at $24.31, up 38 cents (1.6%). The chart for GLW looks neutral and improving, while S&P gives the stock its highest 5 STARS (out of 5) strong buy rating.

For a bullish hedged play on this stock, I would consider a May bull-put credit spread below the $20 range. A bull-put credit spread is an options position that combines the purchase and sale of put options to hedge risk in case the stock doesn't do what you think but still leverage nice returns. For this particular trade, we will make a 13.6% return in just 5 months as long as GLW is above $20 at May expiration. Corning would have to fall by more than 17% before we would start to lose money.

GLW hasn't been below $20 since last January and has shown support around $23 recently. This trade could be risky if consumer spending on luxury items like LCDs tails off in the coming months, but even if that happens, this position could be protected by the support the stock might find around $22, where it bounced in November.

Brent Archer is an options analyst and writer at Investors Observer. At publication time, Brent neither owns nor controls positions in GLW or AUO.

"Corning Inc. (NYSE: GLW) still offer great value," says Nathan Slaughter. In his Half-Priced Stocks newsletter, the advisor explains, "Corning is a 150-year-old company that is involved in some of today's most exciting cutting-edge technologies."

The advisor notes that in the 1870s, the company developed the glass used in Thomas Edison's first light bulb. In later years, it was instrumental in advancements like the television cathode ray tube and even designed the surface of the Hubbell telescope.

Today, he points out, Corning is best known for the glass substrates used to make liquid crystal displays (LCD). In fact, the company dominates 50% of the global market for the thin glass panels used in computer monitors and televisions.

In addition, Corning does have a stake in a number of other fast-growing fields such as fiber optics, diesel engine pollution control, and scientific laboratory instruments. And, he adds, through its 50% ownership stake in Dow Corning, the firm boasts more than 7,000 silicone-based products that run the gamut from fuel additives to solar power cells.

Corning Inc. (NYSE: GLW) opened at $24.35. So far today the stock has hit a low of $24.25 and a high of $24.80. As of 11:00, GLW is trading at $24.71, unchanged.

The stock hit its 52-week high of $27.25 a week ago and set its 52-week low of $17.50 in August. After rising steadily since the start of the year, GLW hit a 52-week high last week before falling sharply at the beginning of this week. Yesterday, Jim Cramer came out stating that he likes GLW at this level. He thinks that the stock is a solid buy based on strong demand for fiber optics in apartments, the upcoming LCD build up in the holiday season, stock buyback, and the company's dividends. Technical indicators for GLW are bullish but deteriorating while S&P gives the stock a very positive 5 STARS (out of 5) strong buy rating.

For a bullish hedged play on this stock, I would consider a September bull-put credit spread below the $22.50 range. A bull-put credit spread is an options position that combines the purchase and sale of call options to hedge risk and leverage returns. For this particular trade, we will make an 11.1% return in less than 2 months as long as GLW is above $22.50 at September expiration. GLW would have to fall by more than 9% before we would start to lose money.

GLW hasn't been below $22.50 since March and has shown support around $23.75 recently. This trade could be risky if the demand for glass slows, but even if that happens, it looks like this position could be protected the support the stock found between $23 and $24 in April and May.

Brent Archer is an options analyst and writer at Investors Observer.
DISCLOSURE: At publication time, Brent neither owns nor controls positions in GLW.