Corning Earnings up 24%, But Consumer Weakness on the Horizon
Flat-Panel maker and glass guru Corning (GLW) reported earnings up strongly year-over-year, but notched down guidance for the 4th quarter. Shares are down over 9% in early trading, as the sales forecasts came in lower than even reduced estimates.
Boilerplate Numbers
Net income for the 3rd quarter was $768 million, up 24% YoY from $617 million. Sales [...]
Adding Corning to Secular Trends Portfolio (GLW)
I’ve been a fan of Corning ever since they were scraping along at the $3 level following the Great Glass Glut of 2000. They made it through that period of time by just a whisker, or a strand of fiber if mixing analogies is your thing (I will tend to do just that, so I’ll [...]
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