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Corning Stock Is Sliding. Earnings and Guidance Disappointed.

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Specialty glassmaker Corning posted a softer-than-expected September quarter, and a forecast that came up short.

Corning stock is trading sharply lower Tuesday after the specialty glass manufacturer posted a softer-than-expected September quarter, and provided guidance that fell short of Street estimates. The company continues to see weakness in most of its primary business segments, including glass for large-screen televisions and fiberoptic-communications infrastructure.For the third quarter, Corning posted “core” sales of $3.

Newsletter Sign-up For the fourth quarter, the company projects core sales of $3.25 billion, with core earnings per share of 37 cents to 42 cents, well below the Street consensus at 50 cents.

 

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