Corning Holders Brace For Earnings (GLW)

April 28, 2008 by Douglas A. McIntyre

Tuesday morning in the pre-market hours, we’ll get to see earnings out of Corning Inc. (NYSE: GLW). The estimates for the ceramic and glass giant from First Call are $0.42 EPS on $1.59 billion in revenues.  Next quarter estimates are $0.43 EPS on $1.67 billion in revenues. Estimates for fiscal Dec-2008 are $1.75 EPS on $6.82 billion in revenues.

Analysts have an average price target north of $31.00, and Corning’s 52-week trading range is $ 20.04 to $27.25.  Shares closed down 0.9% today at $25.68.

Options traders appear to be braced for shares to move about $0.80 in either direction.

What will be rather interesting is to see this new environmental tech unit is doing, which has been a mixed operation so far.  So far, the company has been immune from economic woes as demand for LCD screens for TV’s and computer screens has remained insatiable.

Jon C. Ogg
April 28, 2008