Corning (GLW) Reports In-Line Q1 EPS
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April 27, 2016 7:33 AM EDT
Corning (NYSE: GLW) is filing this Form 8-K to announce that the Modified Third Amended Plan of Reorganization for Pittsburgh Corning Corporation Dated January 29, 2009 Jointly Proposed by Pittsburgh Corning Corporation ("PCC"), The Official Committee of Asbestos Creditors and The Future Claimants Representative, as amended (the "Amended Plan"), including its asbestos channeling injunction, became effective on April 27, 2016. The Amended Plan also created the Pittsburgh Corning Corporation Asbestos Personal Injury Settlement Trust (the "Trust") to resolve channeled asbestos claims. The Amended Plan was confirmed by the United States Bankruptcy Court for the Western District of Pennsylvania... More
April 26, 2016 1:38 PM EDT
Susquehanna analyst Mehdi Hosseini lowered his price target on Corning (NYSE: GLW) to $23.00 (from $24.00) following a 'mixed bag' quarter, but maintained a Positive rating saying compares get easier in the 2nd-half of the year.
Hosseini commented, "Corning's glass biz is tracking in-line with our expectations, though operational issues within the Optical Comm and a down-tick in Gorilla-related revenues for 2016 are viewed as disappointing. Manufacturing... More
