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Fly News Breaks for December 14, 2015
DOW, GLW
Dec 14, 2015 | 09:39 EDT
After Corning (GLW) and Dow Chemical (DOW) announced that Corning will exchange its 50% interest in joint venture Dow Corning for a 100% stake in a newly-formed entity that will have $4.8B in cash, Bernstein says that Dow Corning's earnings stream was only worth $2B. The firm keeps a $26 price target and Outperform rating on Corning.
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