最新ニュース Corning (NYSE:GLW) 株価情報

Corning

Corning is a leader in materials science, specializing in the production of glass, ceramics, and optical fiber. The firm supplies its products for a wide range of applications, from flat-panel displays in televisions to gasoline particulate filters in automobiles to optical fiber for broadband access, with a leading share in many of its end markets.

Corning Inc

GLOW LIFETECH CORP by Glow Lifetech Corp.

Glow LifeTech Corp

<a href="https://ec.europa.eu/commission/presscorner/detail/en/ip_24_5681">https://ec.europa.eu/commission/presscorner/detail/en/ip_24_5681</a>
The European Commission has opened a formal investigation to assess whether Corning may have abused its dominant position on the worldwide market for a special type of glass that is mainly used to protect the screens of handheld electronic devices, such as mobile phones.
Corning, based in the US, is a global glass producer for many industrial and consumer applications. It produces Alkali-aluminosilicate glass (‘Alkali-AS Glass'), a particularly break-resistant glass mainly used as cover for displays of portable electronic devices such as mobile phones, tablets, or smartwatches. Corning markets Alkali-AS Glass under the ‘Gorilla Glass' brand, among others.
The Commission has concerns that Corning may have distorted competition by concluding anti-competitive exclusive supply agreements with mobile phone manufacturers (Original Equipment Manufacturers or ‘OEMs') and with companies that process raw glass (‘finishers').
In particular, it appears that in its agreements with mobile OEMs Corning included:&nbsp;&nbsp;
<ul>
<li>Exclusive sourcing obligations requiring OEMs to source all or nearly all of their Alkali-AS Glass demand from Corning.</li>
<li>Exclusivity rebates granting rebates to OEMs on the condition that they comply with the exclusive sourcing obligations.</li>
<li>‘English clauses' obliging OEMs to report to Corning on competitive offers, and allowing OEMs to accept that offer only if Corning fails to match the price.</li>
</ul>
Additionally, it appears that in its agreements with finishers Corning included:
<ul>
<li>Exclusive purchase obligations obliging finishers to purchase all or nearly all of their Alkali-AS Glass demand, or an important subtype of Alkali-AS Glass, from Corning.</li>
<li>No challenge clauses preventing finishers from challenging Corning's patents.</li>
</ul>
The Commission is concerned that the agreements that Corning put in place with OEMs and finishers may have excluded rival glass producers from large segments of the market, thereby reducing customer choice, increasing prices, and stifling innovation to the detriment of consumers worldwide.
If proven, the behaviour under investigation may breach EU competition rules, which prohibit the abuse of a dominant position (Article 102 of the Treaty on the Functioning of the European Union (‘TFEU')).
The Commission will now carry out its in-depth investigation as a matter of priority. The opening of a formal investigation does not prejudge its outcome.
In parallel to the opening of proceedings, the Commission has adopted a Preliminary Assessment summarising the main facts of the case and identifying its competition concerns. To address the Commission's con

News

Legal

Reported October 5, 2024 'European Commission Opens Antitrust Investigation Into Possible Anticompetitive Practices By Corning Over Cover Glass For Electronic Devices'

Rep. Marjorie Taylor Greene (R-Ga.) disclosed a new round of trades that includes bets on billionaires Warren Buffett, Mark Zuckerberg and Elon Musk ahead of the<a href="https://www.benzinga.com/topic/2024-election"> 2024 presidential election.</a>
What Happened: Greene disclosed purchasing multiple stocks on Tuesday, with the trades all made on Nov. 1 and tracked on <a href="https://www.benzinga.com/gov-trades/members/marjorie-taylor-greene">Benzinga's Government Trades</a> page for the representative.
Here are the stocks bought by Greene, with each trade disclosed in a range of $1,000 to $15,000:
<ul>
<li>Advanced Micro Devices (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>)</li>
<li>Apple Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>)</li>
<li>Berkshire Hathaway B (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>)</li>
<li>Corning Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLW#NYSE">GLW</a>)</li>
<li>Digital Realty Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DLR#NYSE">DLR</a>)</li>
<li>Duke Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DUK#NYSE">DUK</a>)</li>
<li>Intel Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>)</li>
<li>Meta Platforms (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>)</li>
<li>Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>)</li>
<li>Hershey Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HSY#NYSE">HSY</a>)</li>
</ul>
Greene previously <a href="https://www.benzinga.com/markets/equities/24/10/41266843/marjorie-taylor-greene-boosts-stock-portfolio-with-ai-exposure-buys-jpmorgan-and-this-hot-magnif">disclosed several trades</a> in October, which included buying some of the same stocks, including Berkshire Hathaway, Intel, Tesla and Meta Platforms. In September, Greene <a href="https://www.benzinga.com/government/24/09/41031499/marjorie-taylor-greene-stays-loyal-to-trump-keeps-djt-stock-buys-into-warren-buffetts-berkshire-in-l">also bought </a>Berkshire Hathaway and Intel shares.
In May, Greene <a href="https://www.benzinga.com/markets/equities/24/05/38611874/marjorie-taylor-greene-reveals-new-stock-trades-after-2-year-gap-berkshire-hathway-goldman-sachs">disclosed her first </a>stock purchases in several years, which included Berkshire Hathaway and Hershey shares.
Since May, Greene has been actively trading and adding to positions with a strong interest in technology companies and chip stocks.
Greene's latest positions could raise red flags similar to other investments as she is on the Subcommittee on Cybersecurity, Information Technology, and Government Innovation. The representative is also on the Subcommittee on Government Operations and the Federal Workforce.
Knowledge of technology and cybersecurity deals could help several stocks held in her portfolio.
Did You Know?
<ul>
<li>Congress Is Making Huge Investments. <a href="https://www.benzinga.com/gov-trades/?utm_source=BZprocontent110524">Get Tips On What They Bought And Sold Ahead Of The 2024 Election With Our Easy-to-Use Tool</a></li>
</ul>
Why It's Important: Greene could also be positioning her portfolio based on the 2024 presidential election, a race which sees the representative supporting Donald Trump.
Chip stocks and technology companies were among <a href="https://www.benzinga.com/general/politics/24/10/41584466/these-10-stocks-were-the-best-s-p-500-performers-in-2017-when-trump-was-president-will-history-r">the best performing </a>in the S&amp;P 500 in 2017, Trump's first year in the White House previously. Energy stocks <a href="https://www.benzinga.com/general/politics/24/10/41606114/10-s-p-500-stocks-were-worst-performers-in-first-year-of-trumps-presidency-will-they-sink-again">underperformed in 2017,</a> which could make Greene's buy of Duke Energy a bit of a surprise if she is betting on a Trump victory.
Tesla is expected to be a company that benefits from a Trump victory. Tesla CEO Elon Musk endorsed Trump for president and could have a role in Trump's White House.
Trump has spoken out against electric vehicles and wants to eliminate consumer tax breaks for EVs. Tesla could benefit from the elimination of subsidies and tax breaks as they could be more harmful to competitors in the electric vehicle space and not hurt Tesla as much as its peers.
While Greene has been actively buying stocks over the last several months, she has not reported selling her shares of Trump Media &amp; Technology (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DJT#NASDAQ">DJT</a>), the Trump co-founded media company that completed a SPAC merger earlier this year.
Greene disclosed buying Digital World Acquisition shares back in October 2021, the SPAC that took Trump&#8217;s media company public in March 2024.
The transaction was done with shares trading between $67.96 to $118.80. A tweet from UnusualWhales pins the purchase price at $94.20, meaning Greene is down significantly on her $15,000 to $50,000 purchase in the Trump-linked stock. Shares of DJT trade at $39.13 at the time of writing.
With the latest stock transactions, Greene increased her holdings in technology stocks along with placing bets on Buffett to continue powering Berkshire Hathaway as the stock trades near a $1 trillion market cap.
Not many can say that their investing portfolios are betting on Trump, Musk and Buffett, but Greene can.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/general/politics/24/01/36459015/10-best-stock-traders-in-congress-in-2023-spoiler-nancy-pelosi-is-back-on-the-list">10 Best Stock Traders In Congress In 2023 (Spoiler: Nancy Pelosi Has Reentered The Chat)</a></li>
</ul>
Photo: Shutterstock

Government

Politics

AAPL

INTC

TSLA

Is Marjorie Taylor Greene Betting On Trump Victory? Buys Apple, Meta, Tesla Stocks Ahead Of 2024 Election

Oppenheimer analyst Martin Yang reiterates Corning (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLW#NYSE">GLW</a>) with a Outperform and raises the price target from $51 to $58.

Price Target

Reiteration

Analyst Ratings

Oppenheimer Reiterates Outperform on Corning, Raises Price Target to $58

JP Morgan analyst Samik Chatterjee maintains Corning (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLW#NYSE">GLW</a>) with a Overweight and raises the price target from $55 to $60.

JP Morgan Maintains Overweight on Corning, Raises Price Target to $60

In the days leading up to Apple Inc's (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41583865/what-to-expect-from-apples-fq4-earnings">highly-anticipated earnings report</a>, a lesser-known stock sent a warning signal to investors regarding the iPhone maker. 
Qorvo Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QRVO#NASDAQ">QRVO</a>), which provides parts for smartphones, reported lower-than-expected as part of its earnings report, raising concerns about Apple's iPhone sales.
What Does Qorvo Do? Qorvo is a key supplier for Apple, providing parts for iPhones, iPads and Apple Watches. Apple buys wireless chips, antenna equipment and ultra-wideband technology from Qorvo. A significant portion of Qorvo's revenue comes from its partnership with Apple.
Qorvo's Report: While Qorvo beat Street estimates on both EPS and revenue, the supplier reported lower-than-expected guidance, which sent the stock tumbling. Qorvo's CFO, Grant Brown, said that he expects revenue and gross margin to be lower in FY25 compared to FY24.
"Looking forward, the flagship and premium tiers in the smartphone market are holding up well, however, content and ramp profiles vary by model, and we are experiencing unfavorable mix," Brown said on the earnings call. "We expect this to continue in the second half of fiscal 2025."
Read Also: <a href="https://www.benzinga.com/markets/asia/24/10/41616953/apple-wants-to-see-if-it-can-build-iphone-17-from-scratch-in-india-report">Apple Wants To See If It Can Build iPhone 17 From Scratch In India: Report</a>
Due to this &#8220;unfavorable mix&#8221;and lower guidance, Qorvo's stock tumbled more than 20% Wednesday morning. Apple shares held up relatively well compared to Qorvo, taking a hit of less than 1%.
An analyst at Benchmark, Cody Acree, lowered his rating on Qorvo from Buy to Hold and removed the price target following the report, <a href="https://www.barrons.com/articles/qorvo-earnings-stock-price-a88b7b64">according</a> to Barron&#8217;s. Consumers are opting for less profitable entry-tier smartphones compared to more profitable premium and mid-tier phones, explaining Qorvo's weak guidance, the analyst reportedly said.<a href="https://www.barrons.com/articles/qorvo-earnings-stock-price-a88b7b64"> </a>
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<iframe loading="lazy" title="Mixed Bag Market &#x7C; PreMarket Prep" width="500" height="281" src="https://www.youtube.com/embed/jrO5KQf8Azo?start=2968&#038;feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
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</figure>
Benzinga's PreMarket Prep, a daily show broadcast to YouTube covering the most significant headlines moving the markets, covered Qorvo's report on Wednesday morning's show.
PreMarket Prep co-host and professional trader Dennis Dick highlighted weakness in other Apple suppliers, as well as Apple's resilience despite seemingly negative headlines.
&#8220;Apple shrugs it off once again," Dick said.
"This stock is the honey badger stock of all stocks. The news flow has been terrible on Apple, it's had a lot of bad news in the last little while. At least rumors that the iPhone wasn't selling, they're talking about the Vision Pro, that's gone really south, then you had the downgrade from KeyBanc last week, they shrugged that off too." Dick said Skyworks Solutions (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SWKS#NASDAQ">SWKS</a>), Broadcom Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVGO#NASDAQ">AVGO</a>) and Qualcomm Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QCOM#NASDAQ">QCOM</a>) are other Apple suppliers showing weakness Wednesday morning following Qorvo's report. Bucking The Trend: Not all Apple suppliers appear to be in the dumps. Corning Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLW#NYSE">GLW</a>), the main glass supplier for Apple's iPhones and iPads, reported stronger-than-expected earnings Tuesday morning, paired with strong guidance. Corning's positive report could be a potential explanation for Apple's resilience despite the disappointing numbers from Qorvo. Read Next:
<ul>
<li><a href="https://www.benzinga.com/news/24/10/41607481/apples-refreshes-mac-mini-smaller-form-factor-m4-chip-power-and-carbon-neutral">Apple Refreshes Mac Mini: Smaller Form Factor, M4 Chip Power, Carbon Neutral</a></li>
</ul>

Analyst Color

Equities

Markets

Movers

AVGO

QCOM

QRVO

SWKS

An Obscure Stock Sends A Warning To Apple - And The Stock Market

UBS analyst Joshua Spector maintains Corning (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLW#NYSE">GLW</a>) with a Neutral and raises the price target from $46 to $51.

UBS Maintains Neutral on Corning, Raises Price Target to $51

Throughout the last three months, 7 analysts have evaluated Corning (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLW#NYSE">GLW</a>), offering a diverse set of opinions from bullish to bearish.
The following table provides a quick overview of their recent ratings, highlighting the changing sentiments over the past 30 days and comparing them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
The 12-month price targets, analyzed by analysts, offer insights with an average target of $51.43, a high estimate of $55.00, and a low estimate of $47.00. This upward trend is apparent, with the current average reflecting a 13.21% increase from the previous average price target of $45.43.
<img src="https://www.benzinga.com/files/images/story/2024/1730293258_0.png" alt="price target chart" />
<h2>Analyzing Analyst Ratings: A Detailed Breakdown</h2>
The standing of Corning among financial experts becomes clear with a thorough analysis of recent analyst actions. The summary below outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Matthew Niknam</td>
<td>Deutsche Bank</td>
<td>Raises</td>
<td>Buy</td>
<td>$54.00</td>
<td>$49.00</td>
</tr>
<tr>
<td>Tim Long</td>
<td>Barclays</td>
<td>Raises</td>
<td>Equal-Weight</td>
<td>$53.00</td>
<td>$40.00</td>
</tr>
<tr>
<td>Matthew Niknam</td>
<td>Deutsche Bank</td>
<td>Raises</td>
<td>Buy</td>
<td>$49.00</td>
<td>$46.00</td>
</tr>
<tr>
<td>Martin Yang</td>
<td>Oppenheimer</td>
<td>Raises</td>
<td>Outperform</td>
<td>$51.00</td>
<td>$47.00</td>
</tr>
<tr>
<td>Wamsi Mohan</td>
<td>B of A Securities</td>
<td>Raises</td>
<td>Buy</td>
<td>$51.00</td>
<td>$46.00</td>
</tr>
<tr>
<td>Mehdi Hosseini</td>
<td>Susquehanna</td>
<td>Raises</td>
<td>Positive</td>
<td>$55.00</td>
<td>$46.00</td>
</tr>
<tr>
<td>John Roberts</td>
<td>Mizuho</td>
<td>Raises</td>
<td>Outperform</td>
<td>$47.00</td>
<td>$44.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Analysts respond to changes in market conditions and company performance, frequently updating their recommendations. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their reaction to recent developments related to Corning. This information offers a snapshot of how analysts perceive the current state of the company.</li>
<li>Rating: Delving into assessments, analysts assign qualitative values, from 'Outperform' to 'Underperform'. These ratings communicate expectations for the relative performance of Corning compared to the broader market.</li>
<li>Price Targets: Analysts gauge the dynamics of price targets, providing estimates for the future value of Corning's stock. This comparison reveals trends in analysts' expectations over time.</li>
</ul>
Assessing these analyst evaluations alongside crucial financial indicators can provide a comprehensive overview of Corning's market position. Stay informed and make well-judged decisions with the assistance of our Ratings Table.
<a href="https://www.benzinga.com/quote/GLW/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Corning analyst ratings.</a>
<h2>Discovering Corning: A Closer Look</h2>
Corning is a leader in materials science, specializing in the production of glass, ceramics, and optical fiber. The firm supplies its products for a wide range of applications, from flat-panel displays in televisions to gasoline particulate filters in automobiles to optical fiber for broadband access, with a leading share in many of its end markets.
<h3>Corning: Delving into Financials</h3>
Market Capitalization Analysis: With an elevated market capitalization, the company stands out above industry averages, showcasing substantial size and market acknowledgment.
Revenue Growth: Corning displayed positive results in 3 months. As of 30 June, 2024, the company achieved a solid revenue growth rate of approximately 0.25%. This indicates a notable increase in the company's top-line earnings. As compared to competitors, the company surpassed expectations with a growth rate higher than the average among peers in the Information Technology sector.
Net Margin: The company's net margin is a standout performer, exceeding industry averages. With an impressive net margin of 3.2%, the company showcases strong profitability and effective cost control.
Return on Equity (ROE): Corning's financial strength is reflected in its exceptional ROE, which exceeds industry averages. With a remarkable ROE of 0.95%, the company showcases efficient use of equity capital and strong financial health.
Return on Assets (ROA): Corning's financial strength is reflected in its exceptional ROA, which exceeds industry averages. With a remarkable ROA of 0.38%, the company showcases efficient use of assets and strong financial health.
Debt Management: With a high debt-to-equity ratio of 0.77, Corning faces challenges in effectively managing its debt levels, indicating potential financial strain.
<h2>Analyst Ratings: What Are They?</h2>
Analysts are specialists within banking and financial systems that typically report for specific stocks or within defined sectors. These people research company financial statements, sit in conference calls and meetings, and speak with relevant insiders to determine what are known as analyst ratings for stocks. Typically, analysts will rate each stock once a quarter. 
Some analysts publish their predictions for metrics such as growth estimates, earnings, and revenue to provide additional guidance with their ratings. When using analyst ratings, it is important to keep in mind that stock and sector analysts are also human and are only offering their opinions to investors.
Which Stocks Are Analysts Recommending Now?
Benzinga Edge gives you instant access to all major analyst upgrades, downgrades, and price targets. Sort by accuracy, upside potential, and more. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-checkout/?t=be8be9arja3be22bz21&amp;utm_source=benzinga-insights">Click here to stay ahead of the market</a>.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

The Latest Analyst Ratings For Corning

Deutsche Bank analyst Matthew Niknam maintains Corning (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLW#NYSE">GLW</a>) with a Buy and raises the price target from $49 to $54.

Deutsche Bank Maintains Buy on Corning, Raises Price Target to $54

Barclays analyst Tim Long maintains Corning (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLW#NYSE">GLW</a>) with a Equal-Weight and raises the price target from $40 to $53.

Barclays Maintains Equal-Weight on Corning, Raises Price Target to $53

Wall Street took a breather on Tuesday, with most major indices treading water, while tech stocks saw gains as investors braced for earnings <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41579487/amd-q3-earnings-preview-can-ai-server-gains-help-narrow-the-semiconductor-gap-with-">reports from mega-cap companies.</a>
The Nasdaq 100 rose 0.7%, buoyed by anticipation around upcoming earnings from Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>)(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) and Advanced Micro Devices Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>), both set to report after market close.
Elsewhere, the S&amp;P 500 was largely unchanged, the Dow Jones dipped slightly, and small-cap stocks underperformed.
In economic news, U.S. job openings dropped by 418,000 to 7.443 million in September 2024 — marking the lowest level since January 2021 and falling short of the market's expectation of 7.99 million.
The Conference Board&#8217;s Consumer Confidence Index surged, posting its largest monthly gain since March 2021. This suggests that while labor demand may be slowing, consumer sentiment remains robust.
Treasury yields continued to climb during concerns over the U.S. budget deficit and political uncertainty ahead of next week's elections. The yield on the 10-year Treasury note hit 4.33%, the highest level since early July.
Notably, gold prices remained resilient, with the precious metal breaking above the all-time high of $2,770 per ounce as investors sought a hard asset amid fiscal concerns.
The crypto market also saw notable gains. Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) rose nearly 4% to reach $72,700, nearing its record high of $73,697 set in March. Dogecoin (CRYPTO: DOGE) continued its momentum with a 10% rally on Tuesday, following an 11% surge on Monday.
<h1 class="wp-block-heading">Tuesday&#8217;s Performance In Major US Indices, ETFs</h1>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Major Indices</td>
<td>Price</td>
<td>1-day % change</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>20,500.69</td>
<td>0.7%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>5,831.03</td>
<td>0.1 %</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>42,272.72</td>
<td>-0.3%</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>2,226.40</td>
<td>-0.8%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated at 12:45 p.m. ET</figcaption></figure>
According to <a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent102824&amp;t=be2bearmibe3na1">Benzinga Pro</a> data:
<ul>
<li>The&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) inched 0.1% higher to $581.48.</li>
<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>)&nbsp;dipped 0.3% to $422.93.</li>
<li>The tech-heavy Invesco QQQ Trust Series (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) rose 0.7% to $498.73.</li>
<li>The iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) fell 0.7% to $221.01.</li>
<li>The Technology Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLK#NYSE">XLK</a>) outperformed, up by 1.1%. The Utilities Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLU#NYSE">XLU</a>) lagged, down 1.7%.</li>
</ul>
<h1 class="wp-block-heading">Tuesday&#8217;s Stock Movers</h1>
Stocks reacting to earnings reports included: 
<ul>
<li>McDonalds Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MCD#NYSE">MCD</a>), down 0.4%, </li>
<li>Pfizer Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PFE#NYSE">PFE</a>), down 1.7%, </li>
<li>PayPal Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PYPL#NASDAQ">PYPL</a>), down over 4%, </li>
<li>Ecolab Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ECL#NYSE">ECL</a>), down 1%, </li>
<li>Enterprise Product Partner L.P. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EPD#NYSE">EPD</a>) down 0.3%, </li>
<li>Royal Caribbean Cruises Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RCL#NYSE">RCL</a>) up 3.5%, </li>
<li>D.R. Horton (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DHI#NYSE">DHI</a>), down 8.6%, </li>
<li>Phillips 66 (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PSX#NYSE">PSX</a>), down 3.9%, </li>
<li>MSCI Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MSCI#NYSE">MSCI</a>), down 1.5%, </li>
<li>Corning Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLW#NYSE">GLW</a>), up 7.8%, </li>
<li>Ford Motor Co. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/F#NASDAQ">F</a>), down 8%, </li>
<li>SoFi Technologies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SOFI#NYSE">SOFI</a>), down 6.3%, </li>
<li>Incyte Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SWK#NASDAQ">SWK</a>), up 9.4%</li>
</ul>
Among large-cap companies slated to report earnings after the close are Alphabet, Advanced Micro Devices, Visa Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/V#NYSE">V</a>), Stryker Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SYK#NYSE">SYK</a>), Chubb Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CB#NYSE">CB</a>), Mondelez International Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MDLZ#NASDAQ">MDLZ</a>), Chipotle Mexican Grill (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMG#NYSE">CMG</a>) and Electronic Arts Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EA#NASDAQ">EA</a>).
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Photo: Shutterstock

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Tech Stocks Rise Ahead Of Key Earnings, Gold Smashes Records, Bitcoin Nears All-Time Highs: What's Driving Markets Tuesday?

Corning Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLW#NYSE">GLW</a>) shares are trading higher after the company <a target="_blank" href="https://www.benzinga.com/pressreleases/24/10/b41595556/corning-reports-strong-third-quarter-2024-financial-results-1-highlighting-key-milestones-in-sprin" rel="noreferrer noopener">reported third-quarter&nbsp;2024 results</a>.
Core sales growth of&nbsp;8%&nbsp;year-on-year to&nbsp;$3.73 billion, beating the&nbsp;analyst consensus estimate of&nbsp;$3.72 billion.&nbsp;
The Apple glass supplier&#8217;s core EPS of 54 cents beat the analyst consensus estimate of 52 cents.
<ul>
<li>Display Technologies&#8217; sales grew by 4% year-over-year to $1.015 billion. </li>
<li>Optical Communications sales increased by 36% year-over-year to $1.246 billion — record sales in the Enterprise portion of the business (up 55%).</li>
<li>Specialty Materials sales fell&nbsp;3%&nbsp;year over year to&nbsp;$548 million in the quarter.</li>
<li>Life Sciences sales increased by 6% year-over-year to $244 million</li>
<li>Environmental Technologies sales declined by 15% year-over-year to $382 million.</li>
<li>Hemlock and Emerging Growth Businesses sales declined&nbsp;9% year over year&nbsp;to&nbsp;$298&nbsp;million in the quarter.</li>
<li>The core gross margin increased by 220 bps to&nbsp;39.2%. The adjusted free cash flow was&nbsp;$553&nbsp;million&nbsp;in the quarter.</li>
</ul>
Outlook: Corning expects&nbsp;fourth-quarter&nbsp;core sales of&nbsp;$3.75 billion&nbsp;(consensus&nbsp;$3.67 billion) and core EPS of&nbsp;$0.53-$0.57&nbsp;(consensus&nbsp;$0.52).
Chair and CEO Wendell P. Weeks said, &#8220;In Display Technologies, we implemented price increases and expect to deliver segment net income of $900 million to $950 million in 2025 and to maintain net income margin of 25%. Additionally, in Optical Communications, our new products for generative AI are seeing strong demand and driving record year-over-year growth in our Enterprise business.&#8221;
Yesterday, Corning&nbsp;inked a multi-year agreement with&nbsp;AT&amp;T, <a href="https://www.benzinga.com/markets/equities/24/10/41574625/corning-and-at-t-sign-1-billion-deal-to-supercharge-fiber-network" target="_blank" rel="noreferrer noopener">which is valued at over $1 billion</a>.
In September, Corning provided significant updates to its "Springboard" plan of adding more than&nbsp;$3 billion in annualized sales and shared its strategy to&nbsp;achieve a 20%&nbsp;<a target="_blank" href="https://www.benzinga.com/markets/equities/24/09/40943719/cornings-springboard-plan-set-to-skyrocket-profits-by-2026-ai-and-price-hikes-drive-growth" rel="noreferrer noopener">operating margin by the end of 2026</a>.
Investors can gain exposure to GLW via&nbsp;ProShares Smart Materials ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TINT#NYSE">TINT</a>) and&nbsp;Professionally Managed Portfolios Otter Creek Focus Strategy ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OCFS#NYSE">OCFS</a>).
Price Action:&nbsp;GLW shares are up 8.24% at $50.70 premarket at the last check Tuesday.
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Corning Q3 Earnings Beat Expectations with 8% Core Sales Growth, Optical Communications Segment Shines

U.S. stocks were higher, with the Dow Jones index gaining around 50 points on Tuesday.
Shares of Corning Incorporated (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLW#NYSE">GLW</a>) rose sharply during Tuesday's session after reporting better-than-expected third-quarter financial results and issued better-than-expected <a href="https://www.benzinga.com/quote/GLW/earnings">fourth-quarter outlook</a>.
Corning reported quarterly earnings of 54 cents per share which beat the analyst consensus estimate of 52 cents per share. The company reported quarterly sales of $3.73 billion which beat the analyst consensus estimate of $3.72 billion.
Corning shares jumped 7% to $50.12 on Tuesday.
Here are some other big stocks recording gains in today's session.
<ul>
<li>GeneDx Holdings Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WGS#NASDAQ">WGS</a>) shares jumped 39% to $77.96 after the company reported better-than-expected third-quarter financial results and raised its FY24 revenue guidance.</li>
<li>V.F. Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VFC#NYSE">VFC</a>) shares gained 25.3% to $21.35 after the company reported better-than-expected second-quarter financial results.</li>
<li>Canaan Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CAN#NASDAQ">CAN</a>) gained 18% to $1.25.</li>
<li>Lithium Americas Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LAC#NYSE">LAC</a>) climbed 15.7% to $4.79. Lithium Americas closed $2.26 billion U.S. DOE ATVM loan.</li>
<li>Opera Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OPRA#NASDAQ">OPRA</a>) gained 15.5% to $19.48 after the company reported better-than-expected third-quarter financial results and raised its FY24 revenue guidance..</li>
<li>Inari Medical, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NARI#NASDAQ">NARI</a>) gained 15.1% to $49.00 after the company reported better-than-expected third-quarter sales results and raised its FY24 revenue guidance above estimates. Also, Piper Sandler maintained a Neutral rating on the stock and raised its price target from $50 to $5.</li>
<li>Shutterstock, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SSTK#NYSE">SSTK</a>) gained 11.7% to $32.98 after the company reported better-than-expected third-quarter financial results and issued FY24 guidance above estimates. Also, the company announced it will integrate its GIPHY API into TikTok&#8217;s messaging platform.</li>
<li>IPG Photonics Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IPGP#NASDAQ">IPGP</a>) gained 9.3% to $86.61 following upbeat quarterly earnings.</li>
<li>Rambus Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RMBS#NASDAQ">RMBS</a>) gained 8.7% to $48.74 following third-quarter results.</li>
<li>Incyte Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INCY#NASDAQ">INCY</a>) rose 8.4% to $71.21 after the company reported better-than-expected third-quarter revenue results and raised its FY24 net product revenue guidance.</li>
<li>Hayward Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HAYW#NYSE">HAYW</a>) gained 8.3% to $16.03 after the company reported better-than-expected third-quarter financial results and raised the lower end of its FY24 net sales guidance range.</li>
<li>CBIZ, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CBZ#NYSE">CBZ</a>) rose 7.5% to $71.88 following upbeat quarterly earnings.</li>
<li>Rubrik, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RBRK#NYSE">RBRK</a>) rose 7% to $43.42.</li>
</ul>
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Corning Posts Upbeat Q3 Earnings, Joins Opera, Inari Medical, Incyte And Other Big Stocks Moving Higher On Tuesday

WIIM

Corning shares are trading higher after reporting better-than-expected Q3 financial results and issued better-than-expected Q4 outlook.

Fourth-Quarter 2024 Outlook:
<ul>
<li>In the fourth quarter, management expects year-over-year sales growth to accelerate and EPS to grow faster than sales, with core sales of ~$3.75 billion and core EPS in the range of $0.53 to $0.57.</li>
</ul>

Corning Sees Q4 Adj EPS $0.53-$0.57 vs $0.52 Est; Sees Sales $3.750B vs $3.67B Est

Corning (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLW#NYSE">GLW</a>) reported quarterly earnings of $0.54 per share which beat the analyst consensus estimate of $0.52 by 3.85 percent. This is a 20 percent increase over earnings of $0.45 per share from the same period last year. The company reported quarterly sales of $3.73 billion which beat the analyst consensus estimate of $3.72 billion by 0.48 percent. This is a 7.92 percent increase over sales of $3.46 billion the same period last year.

Earnings Beats

Corning Q3 2024 Adj EPS $0.54 Beats $0.52 Estimate, Sales $3.73B Beat $3.72B Estimate

Corning (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLW#NYSE">GLW</a>) is preparing to release its quarterly earnings on Tuesday, 2024-10-29. Here's a brief overview of what investors should keep in mind before the announcement.
Analysts expect Corning to report an earnings per share (EPS) of $0.53.
The announcement from Corning is eagerly anticipated, with investors seeking news of surpassing estimates and favorable guidance for the next quarter.
It's worth noting for new investors that guidance can be a key determinant of stock price movements.
<h3>Performance in Previous Earnings</h3>
During the last quarter, the company reported an EPS beat by $0.01, leading to a 0.68% increase in the share price on the subsequent day.
Here's a look at Corning's past performance and the resulting price change:

<table>
<thead>
<tr>
<th>Quarter</th>
<th>Q2 2024</th>
<th>Q1 2024</th>
<th>Q4 2023</th>
<th>Q3 2023</th>
</tr>
</thead>
<tbody>
<tr>
<td>EPS Estimate</td>
<td>0.46</td>
<td>0.35</td>
<td>0.39</td>
<td>0.47</td>
</tr>
<tr>
<td>EPS Actual</td>
<td>0.47</td>
<td>0.38</td>
<td>0.39</td>
<td>0.45</td>
</tr>
<tr>
<td>Price Change %</td>
<td>1.0%</td>
<td>0.0%</td>
<td>-2.0%</td>
<td>-0.0%</td>
</tr>
</tbody>
</table>

<img src="https://www.benzinga.com/files/images/story/2024/1730131383_0.png" alt="eps graph" />
<h3>Corning Share Price Analysis</h3>
Shares of Corning were trading at $46.25 as of October 25. Over the last 52-week period, shares are up 75.43%. Given that these returns are generally positive, long-term shareholders should be satisfied going into this earnings release. 
<h3>Analysts' Perspectives on Corning</h3>
Understanding market sentiments and expectations within the industry is crucial for investors. This analysis delves into the latest insights on Corning.
Analysts have provided Corning with 10 ratings, resulting in a consensus rating of Outperform. The average one-year price target stands at $47.8, suggesting a potential 3.35% upside.
<h3>Comparing Ratings with Competitors</h3>
The following analysis focuses on the analyst ratings and average 1-year price targets of Coherent, Littelfuse and Belden, three prominent industry players, providing insights into their relative performance expectations and market positioning.
<ul>
<li>Coherent received a Buy consensus from analysts, with an average 1-year price target of $86.18, implying a potential 86.34% upside.</li>
<li>Littelfuse received a Neutral consensus from analysts, with an average 1-year price target of $281.25, implying a potential 508.11% upside.</li>
<li>Belden is maintaining an Buy status according to analysts, with an average 1-year price target of $119.67, indicating a potential 158.75% upside.</li>
</ul>
<h3>Insights: Peer Analysis</h3>
The peer analysis summary provides a snapshot of key metrics for Coherent, Littelfuse and Belden, illuminating their respective standings within the industry. These metrics offer valuable insights into their market positions and comparative performance.

<table>
<thead>
<tr>
<th>Company</th>
<th>Consensus</th>
<th>Revenue Growth</th>
<th>Gross Profit</th>
<th>Return on Equity</th>
</tr>
</thead>
<tbody>
<tr>
<td>Corning</td>
<td>Outperform</td>
<td>0.25%</td>
<td>$949M</td>
<td>0.95%</td>
</tr>
<tr>
<td>Coherent</td>
<td>Buy</td>
<td>9.07%</td>
<td>$431.94M</td>
<td>-1.51%</td>
</tr>
<tr>
<td>Littelfuse</td>
<td>Neutral</td>
<td>-8.74%</td>
<td>$207.00M</td>
<td>1.84%</td>
</tr>
<tr>
<td>Belden</td>
<td>Buy</td>
<td>-12.70%</td>
<td>$226.81M</td>
<td>4.13%</td>
</tr>
</tbody>
</table>

Key Takeaway:
Corning ranks at the top for Revenue Growth among its peers. It is in the middle for Gross Profit. For Return on Equity, Corning is at the bottom compared to its peers.
<h3>Unveiling the Story Behind Corning</h3>
Corning is a leader in materials science, specializing in the production of glass, ceramics, and optical fiber. The firm supplies its products for a wide range of applications, from flat-panel displays in televisions to gasoline particulate filters in automobiles to optical fiber for broadband access, with a leading share in many of its end markets.
<h3>A Deep Dive into Corning's Financials</h3>
Market Capitalization: Boasting an elevated market capitalization, the company surpasses industry averages. This signals substantial size and strong market recognition.
Revenue Growth: Corning's remarkable performance in 3 months is evident. As of 30 June, 2024, the company achieved an impressive revenue growth rate of 0.25%. This signifies a substantial increase in the company's top-line earnings. As compared to competitors, the company surpassed expectations with a growth rate higher than the average among peers in the Information Technology sector.
Net Margin: Corning's net margin is impressive, surpassing industry averages. With a net margin of 3.2%, the company demonstrates strong profitability and effective cost management.
Return on Equity (ROE): Corning's financial strength is reflected in its exceptional ROE, which exceeds industry averages. With a remarkable ROE of 0.95%, the company showcases efficient use of equity capital and strong financial health.
Return on Assets (ROA): Corning's ROA stands out, surpassing industry averages. With an impressive ROA of 0.38%, the company demonstrates effective utilization of assets and strong financial performance.
Debt Management: The company faces challenges in debt management with a debt-to-equity ratio higher than the industry average. With a ratio of 0.77, caution is advised due to increased financial risk.
<a href="https://www.benzinga.com/quote/GLW/earnings">To track all earnings releases for Corning visit their earnings calendar on our site.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Corning Earnings Preview

Corning Incorporated (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLW#NYSE">GLW</a>) shares are trading higher premarket on Monday after the company inked a multi-year agreement with AT&amp;T Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/T#NYSE">T</a>).
The agreement, which is valued over $1 billion, expands AT&amp;T and <a target="_blank" href="https://www.benzinga.com/pressreleases/24/10/b41571236/at-t-and-corning-expand-collaboration-with-multi-year-purchase-agreement" rel="noreferrer noopener">Corning&#8217;s decades-long partnership.</a>
The deal entails supplying advanced fiber, cable, and connectivity solutions, supporting AT&amp;T&#8217;s fiber network expansion and efforts to deliver high-speed internet to more Americans.
AT&amp;T will incorporate Corning&#8217;s latest Evolv connectivity solutions, including Evolv FlexNAP with Multifiber Pushlok Technology, designed to comply with the Build America, Buy America requirements of the Broadband Equity, Access, and Deployment (BEAD) program.
John Stankey, CEO of AT&amp;T, said, &#8220;This new multi-year agreement with Corning helps us to connect more households, communities, and businesses with the high-speed, reliable internet they need to thrive in a digital world.&#8221;
Wendell P. Weeks, chairman and CEO, Corning Incorporated stated, &#8220;By extending our longtime relationship with AT&amp;T, we&#8217;re helping bring the transformational benefits of fiber to more people and communities. We share a fundamental belief that the more people you connect, the more value you create. And optical fiber is bringing people together at an unprecedented scale.&#8221;
In September, Corning provided significant updates to its &#8220;Springboard&#8221; plan of adding more than&nbsp;$3 billion in annualized sales and shared its strategy to&nbsp;achieve a 20% <a target="_blank" href="https://www.benzinga.com/markets/equities/24/09/40943719/cornings-springboard-plan-set-to-skyrocket-profits-by-2026-ai-and-price-hikes-drive-growth" rel="noreferrer noopener">operating margin by the end of 2026</a>.
Investors can gain exposure to GLW via&nbsp;ProShares Smart Materials ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TINT#NYSE">TINT</a>) and&nbsp;Professionally Managed Portfolios Otter Creek Focus Strategy ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OCFS#NYSE">OCFS</a>).
Price Action: GLW shares are up 2.25% at $47.29 premarket at the last check Monday.
Image via Shutterstock
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Contracts

Corning And AT&T Sign $1 Billion+ Deal To Supercharge Fiber Network

Corning shares are trading higher after AT&T announced a multi-year purchase agreement with the company for fiber, cable and connectivity solutions.

AT&T Announces Multi-Year Purchase Agreement with Corning For 
Fiber, Cable And Connectivity Solutions; Agreement Valued At Over $1B

This whale alert can help traders discover the next big trading opportunities.
Whales are entities with large sums of money and we track their transactions here at Benzinga on our options activity scanner.
Traders often look for circumstances when the market estimation of an option diverges away from its normal worth. Abnormal amounts of trading activity could push option prices to hyperbolic or underperforming levels. 
Here's the list of options activity happening in today's session: 
<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
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<th>Volume</th>
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<tbody>
<tr>
<td>NVDA</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>10/11/24</td>
<td>$130.00</td>
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<td>AAPL</td>
<td>CALL</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>10/11/24</td>
<td>$220.00</td>
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<tr>
<td>AMD</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>10/18/24</td>
<td>$167.50</td>
<td>$42.2K</td>
<td>5.8K</td>
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<tr>
<td>PLTR</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>10/18/24</td>
<td>$43.00</td>
<td>$28.8K</td>
<td>7.2K</td>
<td>5.4K</td>
</tr>
<tr>
<td>FROG</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>10/18/24</td>
<td>$30.00</td>
<td>$99.9K</td>
<td>5.1K</td>
<td>4.8K</td>
</tr>
<tr>
<td>MSTR</td>
<td>CALL</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>10/11/24</td>
<td>$190.00</td>
<td>$29.8K</td>
<td>4.0K</td>
<td>4.7K</td>
</tr>
<tr>
<td>SMCI</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>11/15/24</td>
<td>$50.00</td>
<td>$39.7K</td>
<td>16.9K</td>
<td>2.5K</td>
</tr>
<tr>
<td>ENPH</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>10/18/24</td>
<td>$100.00</td>
<td>$27.9K</td>
<td>4.0K</td>
<td>2.3K</td>
</tr>
<tr>
<td>GLW</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>05/16/25</td>
<td>$47.00</td>
<td>$123.8K</td>
<td>311</td>
<td>2.1K</td>
</tr>
<tr>
<td>RCAT</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>11/15/24</td>
<td>$5.00</td>
<td>$29.8K</td>
<td>729</td>
<td>1.8K</td>
</tr>
</tbody>
</table>

<h2>Explanation</h2>
These bullet-by-bullet explanations have been constructed using the accompanying table. 
• For NVDA (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), we notice a call option trade that happens to be bullish, is expiring today. Parties traded 180 contract(s) at a $130.00 strike. The total cost received by the writing party (or parties) was $87.8K, with a price of $488.0 per contract. There were 51674 open contracts at this strike prior to today, and today 19653 contract(s) were bought and sold. 
• For AAPL (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), we notice a call option trade that happens to be neutral, is expiring today. Parties traded 50 contract(s) at a $220.00 strike. The total cost received by the writing party (or parties) was $39.0K, with a price of $780.0 per contract. There were 4140 open contracts at this strike prior to today, and today 10863 contract(s) were bought and sold. 
• For AMD (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>), we notice a call option sweep that happens to be bullish, expiring in 7 day(s) on October 18, 2024. This event was a transfer of 109 contract(s) at a $167.50 strike. This particular call needed to be split into 12 different trades to become filled. The total cost received by the writing party (or parties) was $42.2K, with a price of $388.0 per contract. There were 5813 open contracts at this strike prior to today, and today 10145 contract(s) were bought and sold. 
• Regarding PLTR (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NYSE">PLTR</a>), we observe a call option sweep with bearish sentiment. It expires in 7 day(s) on October 18, 2024. Parties traded 300 contract(s) at a $43.00 strike. This particular call needed to be split into 10 different trades to become filled. The total cost received by the writing party (or parties) was $28.8K, with a price of $96.0 per contract. There were 7292 open contracts at this strike prior to today, and today 5415 contract(s) were bought and sold. 
• Regarding FROG (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FROG#NASDAQ">FROG</a>), we observe a call option sweep with bearish sentiment. It expires in 7 day(s) on October 18, 2024. Parties traded 700 contract(s) at a $30.00 strike. This particular call needed to be split into 24 different trades to become filled. The total cost received by the writing party (or parties) was $99.9K, with a price of $142.0 per contract. There were 5121 open contracts at this strike prior to today, and today 4805 contract(s) were bought and sold. 
• For MSTR (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>), we notice a call option trade that happens to be neutral, is expiring today. Parties traded 20 contract(s) at a $190.00 strike. The total cost received by the writing party (or parties) was $29.8K, with a price of $1494.0 per contract. There were 4068 open contracts at this strike prior to today, and today 4702 contract(s) were bought and sold. 
• Regarding SMCI (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMCI#NASDAQ">SMCI</a>), we observe a call option sweep with bullish sentiment. It expires in 35 day(s) on November 15, 2024. Parties traded 100 contract(s) at a $50.00 strike. This particular call needed to be split into 3 different trades to become filled. The total cost received by the writing party (or parties) was $39.7K, with a price of $393.0 per contract. There were 16995 open contracts at this strike prior to today, and today 2597 contract(s) were bought and sold. 
• Regarding ENPH (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ENPH#NASDAQ">ENPH</a>), we observe a put option sweep with bearish sentiment. It expires in 7 day(s) on October 18, 2024. Parties traded 130 contract(s) at a $100.00 strike. This particular put needed to be split into 40 different trades to become filled. The total cost received by the writing party (or parties) was $27.9K, with a price of $215.0 per contract. There were 4025 open contracts at this strike prior to today, and today 2391 contract(s) were bought and sold. 
• For GLW (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLW#NYSE">GLW</a>), we notice a call option sweep that happens to be bearish, expiring in 217 day(s) on May 16, 2025. This event was a transfer of 280 contract(s) at a $47.00 strike. This particular call needed to be split into 9 different trades to become filled. The total cost received by the writing party (or parties) was $123.8K, with a price of $440.0 per contract. There were 311 open contracts at this strike prior to today, and today 2134 contract(s) were bought and sold. 
• For RCAT (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RCAT#NASDAQ">RCAT</a>), we notice a call option sweep that happens to be bearish, expiring in 35 day(s) on November 15, 2024. This event was a transfer of 745 contract(s) at a $5.00 strike. This particular call needed to be split into 18 different trades to become filled. The total cost received by the writing party (or parties) was $29.8K, with a price of $40.0 per contract. There were 729 open contracts at this strike prior to today, and today 1830 contract(s) were bought and sold. 
Options Alert Terminology 
 - Call Contracts: The right to buy shares as indicated in the contract. 
 - Put Contracts: The right to sell shares as indicated in the contract. 
 - Expiration Date: When the contract expires. One must act on the contract by this date if one wants to use it. 
 - Premium/Option Price: The price of the contract. 
For more information, visit our <a href="https://pro.benzinga.com/blog/how-to-understand-option-alerts/">Guide to Understanding Options Alerts</a> or read <a href="https://www.benzinga.com/markets/options">more about unusual options activity</a>. 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Options

ENPH

FROG

MSTR

NVDA

PLTR

RCAT

SMCI

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Niche manufacturers are carving a significant space in the global economy by addressing specific demand for customized solutions. Amid this backdrop, you might consider tapping into three niche manufacturers: Corning Inc. (GLW), Littelfuse (LFUS), and Watts Water Technologies (WTS). Continue reading… Unlike large-scale manufacturers catering to mass markets, niche players focus on producing specialized, tailored products. This industry is poised to benefit from improving supply chains, resulting in easier availability of raw materials and faster deliveries.
Given this positive sentiment, it might be wise for investors to consider investing in quality industrial manufacturing stocks Corning Incorporated (<a href="https://stocknews.com/stock/GLW/">GLW</a>), Littelfuse, Inc. (<a href="https://stocknews.com/stock/LFUS/">LFUS</a>), and Watts Water Technologies, Inc. (<a href="https://stocknews.com/stock/WTS/">WTS</a>), which are driving both innovation and economic growth.
As per the <a href="https://www2.deloitte.com/us/en/insights/industry/manufacturing/manufacturing-industry-outlook.html">Deloitte report</a>, this fiscal year 2024, investment in U.S. manufacturing has led to longer-term growth. There have been 54 new clean-technology-manufacturing facilities announced during the year through September, representing over $15 billion in investment, which is expected to create more than 15,000 new jobs.
One of the major growth drivers for niche manufacturing is technological advancement. By incorporating automation, AI, and 3D printing into production processes, these manufacturers can meet complex requirements while maintaining efficiency and scalability.
According to an industrial outlook survey, <a href="https://www.advancedtech.com/blog/industrial-market-outlook-status-and-trends/">approximately 86% of manufacturing executives</a> responded that smart factories will be one of the main competitive advantages in the next five years.
The global smart manufacturing market is estimated to reach $479.17 billion by 2029, <a href="https://www.globenewswire.com/news-release/2024/11/12/2978953/28124/en/Smart-Manufacturing-Market-Forecast-Report-to-2029-A-USD-479-17-Billion-Market-by-2029.html">exhibiting a CAGR of 15.5%</a>. Therefore, the outlook for niche manufacturing remains optimistic, with rising demand in industries that require specialized expertise.
Now, let's take a closer look at the fundamentals of the three <a href="https://stocknews.com/category/industrial-manufacturing/">Industrial - Manufacturing</a> stocks, beginning with the third choice.
Stock #3: Corning Incorporated (<a href="https://stocknews.com/stock/GLW/">GLW</a>)
GLW is a materials science technology and innovation company. The company operates through five segments: Optical Communications; Display Technologies; Specialty Materials; Environmental Technologies; and Life Sciences.
On October 28, AT&amp;T Inc. (<a href="https://stocknews.com/stock/T/">T</a>) and GLW together signed a multi-year purchase agreement. Under this agreement, GLW will provide next-generation fiber, cable, and connectivity solutions to support the expansion of AT&amp;T's fiber network and help bring high-speed internet.
On August 1, GLW and Lumen Technologies, Inc. (<a href="https://stocknews.com/stock/LUMN/">LUMN</a>) announced a supply agreement on next-generation fiber-optic cable to support data center AI demands. With this agreement, Lumen reserves 10% of GLW's global fiber capacity for each of the next two years to interconnect AI-enabled data centers. This agreement makes it GLW's first outside-plant deployment new gen-AI fiber and cable system.
For the third quarter of 2024, which ended on September 30, GLW's net sales increased 6.9% year-over-year to $3.39 billion. The company's operating income for the quarter amounted to $302 million, representing an increase of 28% year-over-year.
Its core net income stood at $465 million, up 20.5% year-over-year, while its core earnings per share rose 20% from the prior year's quarter to $0.54. Also, GLW's adjusted <a href="https://www.investopedia.com/terms/f/freecashflow.asp">free cash flow</a> grew 18.7% from the year-ago value to $553 million.
The consensus revenue estimate of $3.76 billion for the fiscal fourth quarter (ending December 2024) represents a 14.8% increase year-over-year. The consensus EPS estimate of $0.56 for the current quarter indicates a 42.5% improvement year-over-year. The company has an impressive earnings surprise history; it surpassed the consensus revenue estimates in each of the trailing four quarters.
The stock has gained 69.1% over the past year and 48.2% over the past nine months to close the last trading session at $47.84.
GLW's <a href="https://stocknews.com/powr-ratings/">POWR Ratings</a> reflect this robust outlook. The stock has an overall rating of B, which equates to Buy in our proprietary rating system. The POWR Ratings are calculated by considering 118 different factors, with each factor weighted to an optimal degree.
GLW has an A grade for Growth and a B for Momentum and Sentiment. It is ranked #13 out of 35 stocks in the B-rated <a href="https://stocknews.com/category/industrial-manufacturing/">Industrial - Manufacturing</a> industry. <a href="https://stocknews.com/stock/GLW/">Click here</a> to see the additional ratings for GLW (Value, Stability, and Quality).
Stock #2: Littelfuse, Inc. (<a href="https://stocknews.com/stock/LFUS/">LFUS</a>)
LFUS designs, manufactures, and sells electronic components, modules, and subassemblies worldwide. The company operates through three segments: Electronics; Transportation; and Industrial.
On October 22, 2024, LFUS announced the launch of RCMP20 Residual Current Monitor Series for Mode 2 and Mode 3 EV charging stations. This launch features the largest Current Transformer (CT) aperture in the industry, and the RCMP20 Series enhances LFUS' growing portfolio of EV infrastructure solutions.
In the fiscal third quarter that ended on September 30, 2024, LFUS' total net sales amounted to $567.39 million, while its Industrial segment net sales grew 6.6% from the same period last year to $91.82 million. The company's net income came in at $58.1 million, up marginally year-over-year, and its EPS stood at $2.32, representing a marginal increase year-over-year.
Street expects LFUS' revenue for the fiscal first quarter (ending March 2025) to increase marginally year-over-year to $543.47 million. Its EPS for the same period is expected to register a 16.5% growth from the prior year, settling at $2.05. In addition, it surpassed the consensus EPS estimates in each of the trailing four quarters, which is promising.
LFUS shares have surged 43.6% over the past year and 34.5% over the past nine months to close the last trading session at $238.66.
LFUS' bright prospects are reflected in its POWR Ratings. The stock has an overall rating of B, which translates to a Buy in our proprietary rating system.
It also has a B grade for Stability, Sentiment, and Quality. Within the same B-rated industry, it is ranked #8. <a href="https://stocknews.com/stock/LFUS/">Click here</a> to see LFUS' ratings for Growth, Value, and Momentum.
Stock #1: Watts Water Technologies, Inc. (<a href="https://stocknews.com/stock/WTS/">WTS</a>)
WTS is a global supplier of products, solutions and systems that manage and conserve the flow of fluids and energy into, through and out of buildings in the commercial, industrial, and residential markets. 
On October 28, demonstrating its commitment to returning value to shareholders, the company declared a quarterly dividend of $0.43 per share, up 35% from the previous quarter, payable to its shareholders on December 13, 2024.
WTS pays an annual dividend of $1.72, which translates to a yield of 0.83% at the current share price. Its four-year average dividend yield is 0.72%. Moreover, the company's dividend payouts have increased at an impressive CAGR of 17.3% over the past three years.
WTS' net sales for the third quarter (ended September 29, 2024) increased 7.8% year-over-year to $543.60 million. Its gross profit stood at $257.10 million, indicating a 9.7% growth from the prior-year quarter.
Its net income rose 5% from the year-ago value to $69.10 million, while its net income per share stood at $2.06, up 5.1% year-over-year. Also, the company reported free cash flow of $204.20 million, indicating a 12.3% growth from the prior year's quarter.
Analysts expect WTS' revenue and EPS for the current year (ending December 2024) are expected to grow by 9.4% and 5.7% from the prior year to $2.25 billion and $8.74, respectively.
Over the past three months, the stock has surged 13.7%, closing the last trading session at $210.80.
It's no surprise that WTS has an overall rating of B, equating to a Buy in our POWR Ratings system. It has a B grade for Momentum and Quality. Out of 35 stocks in the Industrial - Manufacturing industry, WTS is ranked #7.
Beyond what is stated above, we've also rated WTS for Growth, Value, Stability, and Sentiment. Get all WTS ratings <a href="https://stocknews.com/stock/WTS/">here</a>.
What To Do Next?
Get your hands on this special report with 3 low priced companies with tremendous upside potential even in today's volatile markets:
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<hr />
GLW shares were trading at $48.45 per share on Friday afternoon, up $0.61 (+1.28%). Year-to-date, GLW has gained 63.84%, versus a 26.42% rise in the benchmark S&amp;P 500 index during the same period.
<hr><div style="clear:both;"></div> <h2>About the Author: ShreyaRathi</h2> <img src='https:/wp-content/uploads/2024/10/0.jpeg' style="float:left; padding:5px;width:125px;"><a href="https://stocknews.com/authors/?author=shreya-rathi">More...</a>The post <a href=https://stocknews.com/news/glw-wts-lfus-t-lumn-3-niche-manufacturers-tapping-into-specialized-demand/>3 Niche Manufacturers Tapping Into Specialized Demand</a> appeared first on <a href=https://stocknews.com/>StockNews.com</a>

3 Niche Manufacturers Tapping Into Specialized Demand

AMZN

APTV

AVDX

BMBL

CBOE

CELH

CHTR

CIEN

CMCSA

COHR

CTKB

EXAS

FIVE

FWONA

FWONB

FWONK

GILD

HNDAF

HNHAF

HNHPF

IRBT

LBRDA

LBRDB

LBRDK

LBRDP

LFUS

LITE

LUMN

MGRC

MSFT

NFLX

NSANF

NSANY

NTDOF

NTDOY

PACS

PLNT

RVLV

RXST

SATS

SNAP

SNOW

SPOT

SSNLF

STLA

TEVA

TMUS

TNGX

TRMB

UBER

UBSFF

UBSFY

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