Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: BDR who wrote (1246)	2/17/2001 1:56:18 AM
From: Asymmetric	Read Replies (1) \| Respond to of 2260

From Friday's Briefing.com "Corning Inc (GLW) 42.01: -- Update -- Company says, "The announcement that one of our key customers in the photonic technologies business has reduced its growth rate has led us to adjust our previous guidance from 75% to 90% year over year revenue growth to approximately 50% for this business. As a result we will be accelerating our spending control programs and will continue to evaluate the need for further workforce reductions." GLW shares indicated to open about 6 points lower, around $36." (also)"First Union believes new guidance from Nortel has broad, troubling implications; lowering GLW to MKT PERFORM from BUY and trimming its 2001 estimate to $1.30 from $1.38. Given the potential for pricing pressure, numbers could go substantially lower." Anybody brave enough to pick-up any shares in the low-30's? Good luck to all. Peter.