Why Corning Stock Plummeted This Week

Corning (NYSE: GLW) stock got hit with a double-digit valuation pullback in this week's trading despite the company posting better-than-expected quarterly results. The tech-infrastructure specialist's share price fell 10% in a stretch that played host to a 0.9% gain for the S&P 500 and a 1.1% gain for the Nasdaq Composite. Corning published its first-quarter report on April 28, posting sales and earnings for the period that beat the average Wall Street analyst estimates. Despite the Q1 beats, the company's forward guidance fell short of expectations -- and there appears to be another catalyst that factored into the stock's pullback this week.Image source: Getty Images.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool