Corning Inc. shares fell in the extended session Monday after the materials company reduced its outlook for the year in two of its business segments. Corning shares fell 8.5% after hours, following a 0.4% decline to close at $30.05 in the regular session. The company said it expects optical communications sales to decline by 3% to 5% for the year, compared with its previous forecast of a low-to-mid-single digit percentage increase. Analysts surveyed by FactSet expect sales of $4.37 billion, or a 4.3% increase. In display technologies, Corning continues to expect third-quarter prices to be sequentially flat, and full-year glass prices to decline by a low-to-mid single-digit percentage. Analysts expect $3.35 billion, or a 2.1% increase.
blaineonline.finance.blog 