Glass-maker Corning shares plunge 20% on lower sales forecast
Shares of glass-maker Corning fell 20% to as much as $114.50 on Tuesday after the company reported slower growth in fiber optics and forecast a lower Q3 sales as against the expectations of market experts, according to Reuters report.The fall wiped out more than $23 billion in market value of the company.Although Corning beat second-quarter Wall Street expectations for both earnings and revenue, its forward-looking guidance underwhelmed investors.The company projected third-quarter core sales of $4.9 billion to $5.0 billion, falling slightly short of analyst forecasts.Investors noted a subtle