Estabrook Capital Management and
Auxier Asset Management reportedly sold substantial shares of
Corning Incorporated (GLW). Conversely,
XTX Topco Ltd,
Moors & Cabot Inc.,
L & S Advisors Inc and
Otter Creek Advisors LLC have significantly invested in the company. The company remains a strong associate of the
AI boom, with its stock reportedly outperforming the technology sector.
Springboard, the company’s growth plan, aims at adding over $3 billion in annualized sales, with an operating margin target of 20% by 2026.
Generative AI is identified as a contributing factor to the higher Corning earnings and price hikes. However, concerns grow over weak financials possibly affecting its stock momentum. The company’s Q3 outlook and downbeat Q3 guidance are significant elements to consider. Corning has reached a supply agreement with
Lumen for next-gen fiber-optic cable, demonstrating optimism in AI demands. The company reports strong financial results for Q2 2024, exceeding given guidance and showing a return to YoY sales growth. An expected dividend declaration is noted and Corning reportedly raises its Q2 forecast based on Solid demand.
Corning Incorporated GLW News Analytics from Tue, 30 Jan 2024 08:00:00 GMT to Sun, 22 Sep 2024 14:15:18 GMT -
Rating 5
- Innovation 7
- Information 8
- Rumor 0
