US Stocks Movement | Corning (GLW.US) plunges nearly 20% as Q3 revenue guidance fails to surprise

智通财经APP learned that on Tuesday, Corning (GLW.US) opened lower and continued to fall, dropping nearly 20% as of press time, with a decline of more than 54% since July. In terms of news, Corning announced its second-quarter results: core sales were $4.74 billion, up 17% year-on-year, exceeding expectations by about 2.3%. However, the company's Q3 guidance was far from satisfactory, with core sales guidance at $4.9–5.0 billion, the upper limit only in line with expectations, and the implied quarter-on-quarter growth rate plunging from 9% to 3–6%. The market's disappointment mainly focused on the performance guidance. According to data, analysts previously expected Corning's third-quarter sales to be $4.99 billion and earnings per share to be $0.85.