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Technology Stocks : Corning Incorporated (GLW) -- Ignore unavailable to you. Want to Upgrade?


To: t2 who wrote (389)2/2/2000 4:39:00 PM
From: Leo Mitkievicz  Read Replies (1) | Respond to of 2260
 
It closed.

biz.yahoo.com

NEW YORK, Jan 28 (Reuters) - Telecommunications equipment maker Oak Industries Inc.(NYSE:OAK - news) said on Friday its fourth quarter earnings rose 28 percent and it completed its $1.8 billion acquisition by fiber optic maker Corning Inc.(NYSE:GLW - news)

Waltham, Mass.-based Oak reported record net income of $10.3 million, or 53 cents a diluted share, compared with net income of $8.0 million, or 43 cents a year ago. The results topped Wall Street's earnings expectations of 50 cents a share, according to research firm First Call/Thomson Financial.


Will be interesting to see what Corning does with the gas controls division. Agree more consolidation is likely within the fiber optics sector.

Regards,

Leo