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Owens Corning (OC) Stock Down Following Q1 Results

NEW YORK (TheStreet) -- Shares of Owens Corning (OC - Get Report) are slumping by 5.26% to $48.99 on heavy trading volume Wednesday afternoon, after the Toledo, OH-based company posted its 2016 first quarter results.

Before today's market open, the construction materials company reported adjusted earnings of 53 cents per diluted share, trumping analysts' estimates of 34 cents per share.

Revenue for the period was $1.23 billion, slightly below Wall Street's expectations of $1.24 billion.

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