Corning hits earnings bulls eye
In a month of company-issued earnings warnings and analyst downgrades, Corning has some positive news. The company says it is not only on target for 4Q earnings, but is going to hit the high side of estimates. Good news for Corning investors.
Corning president John Loose says he expects revenue to be up nearly 30 percent, to approximately $9.1 - $9.2 billion. As a group, Wall Street analysts are pleased with Corning's projected targets and one analyst says Loose's target numbers are "very achievable."
Corning announced yesterday it will expand production of two of its products and well as increase fiber production significantly. Corning also launched a new ad campaign in December, as CED reported, to shed its tuna casserole image and solidify its image as a telecommunications enabler.