Creamed Corning

Date: 16 September 2011
For the second trading day in a row, Corning (NYSE: GLW  ) tumbled Monday, tripped up by a late-week forecast for weak results at the company's flagship LCD glass division.

Speaking at an investor conference Thursday, Corning CFO Jim Flaws confided that retail demand for LCD TVs is slackening. Glass shipments are expected to flatline in Q3, versus previous expectations of mid-to-high single-digit volume growth. This forecast aligns with what Compal Electronics told us last week -- that in addition to cutting shipments of Hewlett-Packard (NYSE: HPQ  ) , Dell (Nasdaq: DELL  ) , and Lenovo-brand notebooks (most of which use LCD screens), it's also shipping fewer LCD TV sets.

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