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Corning downgraded at Sterne Agee

As noted earlier, Sterne Agee downgraded Corning (GLW) to Neutral from Buy. The firm thinks the company's deal to raise its interest in its joint venture with Samsung (SSNLF) to 100% has been priced into the stock. The firm adds that the deal gives Corning more exposure to weakening display fundamentals and excess glass capacity in Asia.