Why Corning (GLW) Stock Is Falling Today

NEW YORK (TheStreet) -- Shares of Corning Inc.  (GLW) are sinking -9.32% to $20 today after the company reported a mixed second quarter with an EPS missing analyst expectations, but better-than-expected revenue.

The glass maker reported adjusted earnings of 37 cents, up 16% from 32 cents a year ago, but below the analysts estimate of 38 cents.

Revenue was up 27.5% to $2.58 billion, higher than the $2.53 billion consensus.

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The company forecast that LCD glass volume will grow by a mid-single  percentage sequentially in the third quarter, while glass price declines will continue to moderate.

GLW Chart GLW data by YCharts

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