The Stock Spotlight:  Owens Corning

 By Katrina Kovar

Owens Corning is a construction business. Their services include, fiber glass, insulation, roofing, building, remodeling, and asphalt, just to name a few.   There are three events that have occurred over the last couple of quarters.  The major even that happened to Owens Corning is that their quarter ending September 30, showed an increase in sales of 28%; however, their Income Statement reported a net loss of $810 million due largely to Income Tax Expense of $889 million dollars.  This net loss reduced Earnings per Share (EPS) by $7.06.  The second thing that occurred over the past six months to the stock was that a beneficial owner who owned $97 million dollars worth of shares sold them on October 20th.  The third and final event that occured was that Owens Corning announced that they had a new president of building materials who has a lot of leadership, experience, and is able to adapt to market changes which is exactly what any company needs right now especially with what our economy is doing.