expects to report a first-quarter loss of 14 cents to 18 cents a share on revenue of $925 million to $950 million. Analysts expect a loss of 17 cents. The company expects its revenues to increase as the year progresses, but Corning said the pace and timing of a recovery remains uncertain.
Earnings Reports & Outlooks
remains comfortable with the fourth-quarter consensus earnings estimate of 5 cents a share. The company will report its results March 21.
to buy from hold after the company terminated its merger agreement with
and raised its guidance. The firm has a price target of $63 on the stock.
ABN Amro upgraded
to buy from hold, citing a dramatically improved outlook for the DRAM market. The firm also raised its earnings estimates on the company for 2002 and 2003.
UBS Warburg upgraded
to buy from hold and raised its 2002 and 2003 estimates. The firm also sees potential growth of 30% in the company's stock price.
Merrill Lynch raised its long-term rating on
to buy from neutral, but maintained its near-term neutral rating on the stock.
extended its stock repurchase program through Jan. 30, 2003. The company has the ability to buy back up to 7 million shares, of which around 2.6 million have already been repurchased.