32 stories mentioning GLW
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John Z Zhang, Executive Vice President and Chief Corporate Development Officer, on May 06, 2026, sold 15,000 shares in Corning (GLW) for $2,769,984. Following the Form 4 filing with the SEC, Zhang has control over a total of 15,138 common shares of the company, with 15,138 shares held directly.SEC Filing:https://www.sec.gov/Archives/edgar/data/24741/000002474126000209/xslF345X05/form4.xml
US benchmark equity indexes were higher intraday, while oil prices tumbled as investors reacted to reports saying that Washington and Tehran are nearing a potential agreement to end the war.The Nasdaq Composite was up 1.6% at 25,726 after midday Wednesday, while the S&P 500 advanced 1.1% to 7,339.3. Both indexes were on track for back-to-back record-high closings. The Dow Jones Industrial Average rose 1% to 49,792.1.Among sectors, industrials was outperforming with a 2.2% gain, while energy saw the steepest drop of 4.1%.West Texas Intermediate crude was down 6.6% at $95.57 per barrel, while Brent slumped 7% to $102.20.The US is nearing a deal with Iran on a one-page memorandum of understanding to end their conflict in the Middle East and establish a framework for more detailed nuclear negotiations, Axios reported Wednesday, citing two US officials and two other sources familiar with the matter.The two countries are moving closer to an agreement on a short memorandum to end the war, CNN also reported, citing a regional source familiar with the negotiations."Traders in the US woke up to see some real excitement in the markets today caused by the (Axios) news," Macquarie said in a note. "The good news, for now, is that the same sources that leaked the existence of a deal to Axios said this was the closest the parties had been to an agreement since the war began."US President Donald Trump issued a fresh warning to Iran, saying the "bombing starts" again if a deal is not reached."Assuming Iran agrees to give what has been agreed to, which is, perhaps, a big assumption, the already legendary Epic Fury will be at an end, and the highly effective blockade will allow the Hormuz Strait to be open to all, including Iran," Trump said in a social media post.Iran said it is still reviewing the latest US proposal, according to news reports.US Treasury yields were lower intraday, with the 10-year rate down 7.4 basis points at 4.36% and the two-year rate falling 7.2 basis points to 3.88%.In company news, Advanced Micro Devices (AMD) shares surged nearly 17%, among the best performers on the S&P 500. Late Tuesday, the chipmaker reported stronger-than-expected first-quarter results as demand for artificial intelligence infrastructure pushed data center revenue higher year over year.Walt Disney's (DIS) fiscal second-quarter results came in ahead of market estimates Wednesday amid revenue gains across all business operations, while the media and entertainment giant reiterated its expectations for growth to accelerate in the second half. Disney's shares climbed 6.5%, the top performer on the Dow.Nvidia (NVDA) followed Disney on the Dow, up 4.5%. Specialty glass maker Corning (GLW) will boost its optical connectivity manufacturing capacity under a multiyear partnership with chipmaking giant to support AI factory buildouts. Corning shares jumped 14%.Arista Networks (ANET) shares tumbled 16%, among the worst S&P 500 performers. Late Tuesday, the cloud networking company issued a second-quarter revenue outlook slightly below market estimates.Arm (ARM), Applovin (APP), DoorDash (DASH) and Warner Bros. Discovery (WBD) are expected to report after the closing bell Wednesday, along with others.In economic news, employment in the US private sector grew at its fastest pace in more than a year in April, ADP (ADP) data showed."The uptick in private payroll gains from the ADP employment report not only suggests a stable labor market, but one that was potentially warming despite the outbreak of the war in Iran," Oxford Economics said in a note. "If this signal is echoed in the official measure on Friday, the unemployment rate is likely to fall given the low break-even rate, which we estimate is near zero."Data from the Bureau of Labor Statistics are expected to show Friday that the US economy added 65,000 nonfarm jobs last month, which would represent a fall from a 178,000 increase reported for March, according to a Bloomberg-compiled survey. The unemployment rate is seen unchanged at 4.3%.Gold rose 2.8% to $4,695.90 per troy ounce, while silver climbed 5.3% to $77.48 per ounce.
Specialty glass maker Corning (GLW) will boost its optical connectivity manufacturing capacity under a multiyear partnership with Nvidia (NVDA) to support artificial intelligence factory buildouts.The deal includes the construction of three new facilities in North Carolina and Texas, according to a joint statement released Wednesday. The expansion is expected to create more than 3,000 jobs.The partnership will boost Corning's optical connectivity manufacturing capacity in the US by 10 times and its domestic fiber production capacity by more than 50%.Shares of Corning surged 12% in Wednesday trade, while Nvidia was up 4.4%. Corning's share price has more than doubled year to date, while Nvidia is tracking 10% higher so far this year.Corning's expanded capacity will allow hyperscale data centers to deploy Nvidia-accelerated computing at scale, the companies said.Modern AI workloads require thousands of Nvidia's graphics processing units, and as AI factories grow larger, "optical connectivity becomes an important component of the AI infrastructure," according to the statement.Corning issued warrants to Nvidia, giving the chipmaker an option to buy up to 15 million shares of Corning at $180 per share, according to a filing from the specialty glass and fiber-optics maker. Nvidia also received a pre-funded warrant to purchase up to 3 million common shares for a total price of $500 million.The warrants are exercisable at any time, the filing showed.In January, Meta Platforms (META) and Corning announced an up to $6 billion deal to accelerate the buildout of US data centers.Corning is looking at building a $10 billion revenue stream by 2030, Chief Executive Wendell Weeks said in a separate statement on Wednesday.Price: $204.42, Change: $+7.92, Percent Change: +4.03%
All three major US stock indexes were up over 1% in late-morning trading Wednesday, as investors showed optimism that the US and Iran were nearing an agreement to end the war.In company news, Advanced Micro Devices (AMD) reported Q1 adjusted earnings late Tuesday of $1.37 per diluted share, up from $0.96 a year earlier and above the FactSet consensus analyst estimate of $1.29. First-quarter revenue was $10.25 billion, up from $7.44 billion a year ago and above the FactSet consensus of $9.90 billion. For Q2, the company said it expects revenue of $11.2 billion, plus or minus $300 million, above the FactSet consensus of $10.54 billion. AMD shares were up 17.7% around midday.Nvidia (NVDA) and Corning (GLW) said Wednesday they have entered a multiyear commercial and technology partnership to expand US manufacturing of advanced optical connectivity technology to power AI infrastructure. Under the partnership, Corning will increase its US-based optical technology production capacity by 10x and expand its US fiber production capacity by over 50%, the companies said. In connection with the partnership, Corning said Wednesday in an SEC filing that it sold a warrant to Nvidia to buy up to 15 million shares of its common stock at an exercise price of $180.00 per share. Nvidia also acquired a pre-funded warrant to buy up to 3 million shares of common stock at an exercise price of $0.0001 per share, for an aggregate purchase price of $500 million, Corning said. Nvidia shares were up 5.2%, while Corning shares were up 13.8%.Uber Technologies (UBER) reported Q1 non-GAAP earnings Wednesday of $0.72 per share, up from $0.50 a year earlier and above the FactSet consensus of $0.69. First-quarter revenue was $13.2 billion, up from $11.53 billion a year ago and compared to the FactSet consensus of $13.28 billion. For Q2, Uber said it expects non-GAAP EPS of $0.78 to $0.82, compared to the FactSet consensus of $0.79. The company said it expects Q2 gross bookings of $56.25 billion to $57.75 billion, above the FactSet consensus of $56.17 billion. Uber shares were up 8.2%.Walt Disney (DIS) reported fiscal Q2 adjusted earnings Wednesday of $1.57 per diluted share, up from $1.45 a year earlier and above the FactSet consensus estimate of $1.49. Fiscal Q2 revenue was $25.17 billion, up from $23.62 billion a year ago and above the FactSet consensus of $24.87 billion. For fiscal 2026, the company said it expects adjusted EPS growth of about 12%, excluding the impact of the 53rd week. Disney shares were up more than 6%.IBM (IBM) said Wednesday it is working with Oracle (ORCL) to bring the power of its watsonx to Oracle Cloud Infrastructure, or OCI, in hopes of fueling "multi-agentic, AI-driven productivity and efficiency across the enterprise." Watsonx Orchestrate Ai agent offerings will be available on OCI in July, the company said. IBM shares were down 0.9%, while Oracle shares were up 1.9%.Price: $416.71, Change: $+61.45, Percent Change: +17.30%
Corning Keeps Quarterly Dividend at $0.28 per Share, Payable June 29 to Holders of Record May 29
Corning's (GLW) is seen more likely to achieve higher sales growth and profit margin gains with a stronger long-term growth outlook, UBS said in a Tuesday note.Investor expectations on pricing and margins may have gotten too high, which led to the company's recent stock decline of 9%, UBS analysts said.The company's Q2 guidance matched UBS's expectations, excluding solar maintenance impacts, and the analysts said they boosted their estimated 2027 and 2029 sales based on their higher conviction for growth. Profit margins continue to rise as the company posts 40% to 50% incremental margins in its optical segment, although there may be some short-term volatility as capacity comes online, according to the note.Over the next three years, the analysts project compound annual growth rate of 17% for sales and 32% for EPS. Their updated 2028 estimates include around $26 billion for sales and $5.80 for EPS.UBS maintained the company's stock rating at buy and raised the price target to $179 from $171.Price: $149.59, Change: $-3.46, Percent Change: -2.26%
CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We trim our 12-month target price by $15 to $175, 55.6x our 2026 EPS estimate. We raise our 2026 EPS estimate by $0.02 to $3.15 and increase 2027's by $0.05 to $3.96. The Optical Communications segment delivered strong sales and net income growth, driven by demand for Gen AI products and notable long-term agreements with major hyperscale customers. Both Enterprise and Carrier sub-segments grew at an equal and impressive rate, reflecting broad-based demand and successful expansion of customer relationships. The Solar segment encountered difficulties with its wafer facility, including delays in ramp-up relative to ambitious plans. The facility required an extended maintenance shutdown to transition to permanent power systems and to repair and upgrade production equipment, resulting in $30 million of additional expenses and a temporary reduction in sales and profitability. This shutdown impacted margins, EPS, and sales for at least a couple of months into the second quarter.
CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:Corning delivered robust Q1 2026 results, with core EPS growing 30% Y/Y to $0.70 on core sales of $4.35B (+18% Y/Y), led by exceptional Optical Communications demand. Optical Communications posted 36% Y/Y growth to $1.846B, with segment income surging 93% Y/Y to $387M, reflecting accelerating fiber optics adoption in AI data centers. The announcement of two additional hyperscale customer agreements, similar in scope to the Meta partnership, significantly strengthens GLW's position in the AI infrastructure buildout and validates our thesis that fiber optics represents a critical bottleneck. Management provided constructive Q2 2026 guidance of ~$4.6B in core sales (+14% Y/Y) and core EPS of $0.73-$0.77 (+25% Y/Y). We expect continued momentum as the company upgraded its Springboard plan to $11B in incremental sales by 2028 from $8B, with core operating margin reaching 20.2% (+220 bps Y/Y), demonstrating strong execution of the AI infrastructure strategy.
Corning Inc (GLW) has an average rating of overweight and mean price target of $148.17, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)Price: $171.40, Change: $+2.64, Percent Change: +1.56%
CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We raise our 12-month target by $67 to $190, 60.7x our 2026 EPS estimate, a notable premium to its three-year historical average P/E at 22.5x (corrected from 65.7x previously). We see this premium as warranted, similar to competitor LITE, given the potential growth AI demand could generate. We increase our 2026 EPS estimate by $0.02 to $3.13 and raise 2027's by $0.06 to $3.91. Corning has experienced substantial growth since the roll-out of its Springboard plan, including sales growth of about 40% and earnings growth of almost 90%, as well as improvements in operating margin and return on invested capital (ROIC) into the mid-teens. There is strong demand in the optical communications space, especially related to AI-driven data center expansion, with Corning's new fiber products proving successful and surpassing market expectations. Corning sees a large opportunity in the conversion of copper to optics in data centers, which is happening faster than initially anticipated, driving further growth potential.
Mizuho Securities Adjusts Corning PT to $190 From $160, Maintains Outperform Rating
CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We raise our 12-month target price by $67 to $190, 60.7x our 2026 EPS estimate, comparable to its three-year historical average P/E at 65.7x. We increase our 2026 EPS estimate by $0.02 to $3.13 and raise 2027's by $0.06 to $3.91. Corning has experienced substantial growth since the roll-out of its Springboard plan, including sales growth of about 40% and earnings growth of almost 90%, as well as improvements in operating margin and return on invested capital (ROIC) into the mid-teens. There is strong demand in the optical communications space, especially related to AI-driven data center expansion, with Corning's new fiber products proving successful and surpassing market expectations. Corning sees a large opportunity in the conversion of copper to optics in data centers, which is happening faster than initially anticipated, driving further growth potential.
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