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TMCNet:  Downgrade Alert for Corning (GLW)

[January 11, 2013]

Downgrade Alert for Corning (GLW)

Jan 11, 2013 (SmarTrend(R) Upgrades/Downgrades via COMTEX) -- Corning (NYSE:GLW) was downgraded from Buy to Neutral at Goldman Sachs today. The stock closed yesterday at $12.64 on volume of 18.3 million shares, above average daily volume of 14.9 million. Over the past year, Corning has traded in a range of $10.62 to $14.62 and closed yesterday at $12.64, 19% above that low. The 200-day and 50-day moving averages have moved 0.23% lower and 0.17% lower over the past week, respectively.

There is potential upside of 16.7% for shares of Corning based on a current price of $12.64 and an average consensus analyst price target of $14.75. Corning shares should encounter resistance at the 200-day moving average (MA) of $12.65 and support at the 50-day MA of $12.11.

Corning Incorporated is a global, technology-based company. The Company produces optical fiber, cable, and photonic components for the telecommunications industry, as well as manufactures glass panels, funnels, liquid crystal display glass and projection video lens assemblies for the information display industry.

SmarTrend recommended that subscribers consider buying shares of Corning on November 27th, 2012 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $12.17. Since that recommendation, shares of Corning have risen 3.9%. We continue to monitor GLW for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Write to Chip Brian at cbrian@mysmartrend.com --------------------------------------------------------------------------------------------- SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit http://www.MySmarTrend.com Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at: http://www.MySmarTrend.com/signup

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