New York, Feb 3, 2026, 15:21 (EST) — Regular session
- GLW climbed 1.4% in afternoon trading, bucking the trend as major U.S. stock ETFs slipped.
- The latest earnings call transcript highlighted the company’s ongoing optical-fiber expansion and its partnership with Meta Platforms.
- SEC filings reveal insider share sales dated Feb. 2.
Corning shares climbed 1.4% Tuesday, closing at $111.86 and outperforming the weaker U.S. equity market. The stock fluctuated between $109.64 and $117.50 amid volatile trading.
The glass and fiber producer remains in the headlines, having forecast first-quarter sales that beat Wall Street expectations, driven by robust optical-fiber demand—a segment Reuters notes makes up nearly 40% of its revenue. The company also highlighted a multi-year supply deal with Meta valued at as much as $6 billion. (Reuters)
Why it matters now: Corning is a fast track for investors betting on data-center wiring and AI infrastructure, but some segments still depend on TV and consumer electronics cycles. When sentiment shifts to risk-off, those mixed signals hit the stock quickly.
The S&P 500 ETF dropped 1.3% while the Nasdaq 100 ETF slipped 2.1% in afternoon trading. Optical and connectivity stocks fared better: Lumentum gained 3.6%, Ciena rose 2.7%, Coherent added 2.2%, and Applied Optoelectronics climbed 1.4%.
Last week’s earnings call transcript, released Tuesday, featured CEO Wendell Weeks announcing an upgrade to Corning’s “Springboard” growth plan. The new target: an extra $11 billion in annualized sales by the end of 2028. The company confirmed its first-quarter core outlook—excluding certain items—expecting sales between $4.2 billion and $4.3 billion, with core EPS ranging from $0.66 to $0.70. Weeks highlighted Meta as an “anchor customer” amid capacity expansion in North Carolina and noted that Corning is “concluding similar long-term agreements with other major customers.” (Investing)
Corning’s display segment remains tied to TV demand, vulnerable to panel price swings and whether buyers will accept pricier sets. JPMorgan kept its Overweight rating and $115 target, noting December panel shipments outperformed typical seasonal trends. Panel prices rose in January and are expected to increase further in February. The bank did warn that higher TV prices, meant to offset costs, could dent volume. (Investing)
Separate filings revealed insider sales dated Feb. 2. Eric Musser offloaded 25,000 shares at a weighted-average price of $110.0032, according to a Form 4, leaving him with 19,926 shares. Another Form 4 showed Michael Paul O’Day sold 5,051 shares at a weighted-average of $110.5191, retaining 29,915 shares after the trade. (SEC)
The real question now is if demand for high-density optical cabling continues to outpace expectations while display conditions remain stable. The stock remains volatile, so any change in panel-price updates or hints of weaker customer spending could trigger sharp moves fast.
Corning’s first-quarter report is the next big catalyst, with Zacks Investment Research expecting it on May 5.
cted date. (Zacks)
