This article first appeared May 14 on RealMoney. To read Arne's commentary regularly, please click here for a free trial.The game is up. The buildout is over. Shareholders of Corning ( GLW) are in for a rude awakening. This $7 billion market-cap company could very well lose much of its equity value in the near future.
|Stream Running Dry |
Revenue per share keeps slipping
For $7 billion, then, investors get a company with a paltry revenue stream (now running at about $3 billion per year), a company that's in a sector plagued by overcapacity and commodity pricing, and a company with an exceptionally weak balance sheet:
|The Balance-Sheet Story |
Here are three of the latest chapters
|Tough Bet |