Corning Shares Down 8% After Sales Forecasts

Date : 09/17/2019 @ 3:27PM
Source : Dow Jones News
Stock : Corning Inc (GLW)
Quote : 29.35  0.0 (0.00%) @ 9:00AM

Corning Shares Down 8% After Sales Forecasts

Corning (NYSE:GLW)
Historical Stock Chart

2 Months : From Aug 2019 to Oct 2019

Click Here for more Corning Charts.

By Michael Dabaie


Corning Inc. (GLW) shares were down 8%, to $27.62, in early trading.

The company Monday said it now expects third-quarter optical communications segment sales to decline on year by a low-teen percentage, versus a prior expectation of a low-single digit percentage decline. Several major carriers are further reducing capital spending on cable deployments and fiber-to-the-home projects and some enterprise customers have reduced their spending below anticipated levels, Corning said.

For the full year, Corning lowered forecasts for optical-communications segment sales to a decline of 3% to 5%, versus its prior expectation of a low-to-mid-single digit percentage increase. Corning said it expects both carrier and enterprise network sales to decline year-over-year in the second half of 2019.

Corning also lowered its display-technologies volume forecast to a high-single digit percentage sequential decline in the third quarter, saying several panel manufacturing customers have reduced utilization below anticipated levels in the current quarter.


Write to Michael Dabaie at


(END) Dow Jones Newswires

September 17, 2019 10:12 ET (14:12 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.

Latest GLW Messages

{{bbMessage.M_Alias}} {{bbMessage.MSG_Date}} {{bbMessage.HowLongAgo}} {{bbMessage.MSG_ID}} {{bbMessage.MSG_Subject}}

Loading Messages....

No posts yet, be the first! No {{symbol}} Message Board. Create One! See More Posts on {{symbol}} Message Board See More Message Board Posts

Your Recent History
Gulf Keyst..
FTSE 100
UK Sterlin..
Stocks you've viewed will appear in this box, letting you easily return to quotes you've seen previously.

Register now to create your own custom streaming stock watchlist.

NYSE, AMEX, and ASX quotes are delayed by at least 20 minutes.
All other quotes are delayed by at least 15 minutes unless otherwise stated.