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Strategies & Market Trends : Z Best Place to Talk Stocks
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To: Larry S. who wrote (31088)4/27/2001 8:27:28 AM
From: Ron McKinnon  Read Replies (2) of 53068
 
08:10 ET Corning Inc (GLW) 21.00: -- Update -- UBS Warburg downgrades to HOLD from Buy. Firm cuts estimates to $7.6 bln in revenues and $0.88 EPS for 2001, down from $8.0 bln and $1.20; and 2002 goes to $8.2 bln and $0.95, down from $9.4 bln and $1.45. Price target cut to $16 from $36. Downgrade based on concern that even if the sector begins to rebound later in the year, Corning`s value proposition of fiber and photonics is not properly calibrated at this time to participate as rapidly as some of its peers.




08:07 ET Corning Inc (GLW) 21: -- Update -- Merrill Lynch feels that latest reduction in estimates by management is a major step toward clearing the decks; thinks that risk is limited for investors that accumulate the stock under $20
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