Eye on Corning

In February, Corning said it expected to make 24 cents to 27 cents a share on revenue of $1.26 billion to $1.31 billion. Analysts expect adjusted profit of 26 cents a share on $1.3 billion in sales, according to Reuters Research.

One investor, who likes the stock, says the company's LCD business and its sales of fiber optic cable and equipment to telcos "looks good." But it's next quarter that remains a concern, he says.

"I think this quarter should be OK," says the money manager. But "I'm unsure about June guidance."

But whatever the outlook is, you can be sure that some optimists might see it as another round of sandbagging.