Corning, Inc. (GLW)

[Cognition]

Corning's core earnings were 29 cents per share.

Analysts on average had expected a profit of 27 cents per share on revenue of $1.93 billion, according to Thomson Reuters I/B/E/S.

They beat analyst estimates and it still goes down over a dollar! I can't believe people trade on headlines instead of what is actually going on with this company.

"We anticipate our price declines will return to more moderate levels after first quarter ...," Chief Financial Officer Jim Flaws said in an earnings call after the company reported better-than-expected quarter ended Dec. 31.

"If prices were to continue to decline like they are in first quarter, our competition would soon be incurring losses," he said.

Corning said it would still be profitable at even lowered prices as its costs are already lower than its competitors by a substantial percentage.

Great entry point IMO. This company isn't going anywhere. GLTA