Corning swings to loss on currency hedges
Corning Inc. GLW said Tuesday it swung to a first-quarter loss, citing currency-hedging contracts, and backed its yearly sales target. The Corning, New York-based specialty glass and ceramics maker posted a quarterly loss of $589 million, or 72 cents a share, compared with a profit of $86 million, or 7 cents a share, for the year-earlier period.