Corning Says The U.S. Is A Drag On The LCD Market (GLW)

Oppenheimer & Co. notes that Corning (NYSE: GLW) says the U.S. is a drag on LCD TV sales.

In the note, Oppenheimer writes, "LCD glass producer Corning indicated that the LCD market supply chain is going through an inventory correction and that the company's third-quarter glass demand will be lower than what it originally expected, according to Vice Chairman and Chief Financial Officer James B Flaws. However, the company has no plans to change its glass pricing expectations for the quarter."

Shares of Corning lost 2.67% yesterday to close at $17.14, good for a loss of 47 cents.