Corning in Aquisition Mode

Corning expects fourth quarter revenues to be around US$1.41 billion and Street consensus of $1.36 billion in the first quarter of 2010 according to The Wall Street Journal. Peter Volanakis, CEO of Corning, stated that the company has about $3 billion in cash and looking to for acquisition targets. Corning purchased Axygen BioScience, a laboratory equipment manufacturer, in September for US$400 million from American Capital. Axygen was integrated into Corning’s life sciences segment. He also mentioned that LCD glass remains very tight in the fourth quarter. Source: The Wall Street Journal via Briefing.com, StreetInsider.com

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