Corning Incorporated (GLW) Message Board

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Technology Stocks : Corning Incorporated (GLW)

GLW 103.25

+0.2%

Jan 30 9:30 AM EST

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To: Proud_Infidel who wrote (1489)	10/4/2001 12:28:13 PM
From: Jack Hartmann	Read Replies (1) of 2260

GS note 10/4/01 on GLW EPS (FY Dec): 2001E US$0.37, 2002E US$0.04 Market Outperformer Corning Incorporated GLW, $9.00 Corning provided Q3 EPS guidance of $0.02-$0.06, below consensus of $0.12. Our $0.06 estimate was at the high end of the revised range. Company indicated that the fiber business has taken another decline since the last negative update in late August, and is seeing the first impacts of pricing pressure. Reflecting the significance of this downturn, GLW is idling several of its fiber plants, which it has never done before. We are significantly lowering our estimates and remain cautious on the stock. We believe the stock will stay under pressure for the int. term until GLW can manage down its large fixed cost structure. Jack - no position

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