Corning (GLW -2.2%) trades lower after Morgan Stanley reiterates an Underwight, noting downbeat...

|About: Corning Inc. (GLW)|By:, SA News Editor

Corning (GLW -2.2%) trades lower after Morgan Stanley reiterates an Underwight, noting downbeat remarks made by CFO James Flaws at a conference. Flaws mentioned his company's Samsung Corning JV (SCP) has chosen not to match a price cut from rival Nippon Electric, and has thus lost share at customer LG Display (LPL). As a result, SCP is now expected to see a "low-double-digit" shipment decline. (previously)