December 3, 2008
Glassmaker's stock has been smudged
Shares of Corning Inc. are currently changing hands at their lowest level in three years, after the high-tech glassmaker warned of lower third-quarter results Sept. 3. The main culprit this quarter was lower shipments of LCD glass (where the company generates more than 90 percent of its profit), as management said that television makers were working down inventory.
PowerRatings Chartology: 3 Top Pullbacks for Traders
Even after two days of market rallying, there are still some great pullbacks that traders should be watching, including Sauer-danfoss Inc. which shot up from a Short Term PowerRating of 4 to 9 since May.
Stocks are down in early trading, as Procter & Gamble lowered its sales outlook and data showed declining retail sales in February and a widening current account deficit.
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