Corning Reaffirms for First Time This Month

The company says its market opportunity is huge.
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Corning (GLW) - Get Report reaffirmed first-quarter guidance.

The news came as CEO Wendell Weeks and other Corning executives discussed 2006 market opportunities at an annual investor meeting at the Mandarin Oriental Hotel in New York.

Corning said it expects to make about 22 cents a share for the quarter ending next month on sales of around $1.23 billion. Those figures, which are in line with the Wall Street analyst consensus estimate, match the numbers Corning provided

Jan. 24 along with its fourth-quarter earnings.

Heading into Friday's conference -- which was accompanied by a flurry of preopen press releases on the company's huge prospects in its liquid crystal display screen and diesel technologies businesses -- Corning hadn't provided investors with first-quarter financial guidance in 10 long days.

Early Friday, Corning rose 29 cents to $24.50.