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Story summary
- Corning Inc. shares fell 16% on Tuesday after the company posted its second-quarter earnings.
- The results showed EPS of 78 cents versus a 76-cent estimate and revenue of $4.74 billion, beating the $4.61 billion forecast, while the company forecast current-quarter core revenue of $4.9-$5 billion, below consensus.
- Shares of other optical-component makers such as Marvell, Lumentum, AXT and Coherent also dropped double digits after Corning’s report.
