Corning

(GLW) - Get Report

was down 5% in preopen

Instinet

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trading, after it said 2001 earnings would be $1.20 to $1.30 per share, below its previous estimate of $1.40 to $1.43. The Street has expected $1.36.

The No. 1 maker of fiber-optic cable said, however, that its first-quarter estimate remains 28 to 31 cents.