Why Is Corning Stock Surging on Tuesday?
Corning Inc. (NYSE: GLW ) stock is surging on Tuesday as part of a strong post-earnings relief rally. The move is further fueled by a major Wall Street upgrade following the stock’s recent decline. While the stock initially tumbled last week due to lighter-than-expected third-quarter sales guidance, investors are aggressively buying the pullback. Nasdaq futures are up 1.04% while S&P 500 futures have gained 0.33%. Read Also: Stock Market Today: S&P 500, Dow and Nasdaq Futures Rise After Strong Monday Gains— McDonald's, AMD, Palantir in Focus Analysts Reiterate Bullish Outlook The stock carries a Buy rating with an average price forecast of $155.79 across 32 analysts. Recent analyst actions include Truist Securities upgrading Corning to Buy while lowering its price forecast to $175 on Aug. 3. On July 29, Morgan Stanley maintained an Equal-Weight rating and lowered its price foreca...
Corning Inc. (NYSE: GLW ) stock is surging on Tuesday as part of a strong post-earnings relief rally. The move is further fueled by a major Wall Street upgrade following the stock’s recent decline. While the stock initially tumbled last week due to lighter-than-expected third-quarter sales guidance, investors are aggressively buying the pullback.
33%. 79 across 32 analysts. Recent analyst actions include Truist Securities upgrading Corning to Buy while lowering its price forecast to $175 on Aug. 3.
On July 29, Morgan Stanley maintained an Equal-Weight rating and lowered its price forecast to $165. On the same day, Oppenheimer maintained an Outperform rating while adjusting its price forecast to $200. Strong Second-Quarter Performance For the second quarter, adjusted earnings rose 30% year over year to 78 cents per share, topping estimates of 76 cents. 61 billion.
97 billion consensus. They anticipate adjusted earnings of 85 cents to 89 cents per share for the third quarter. Management projected a 19% sales compound annual growth rate from the fourth quarter of 2026 through the fourth quarter of 2030. 55), which keeps the longer-term uptrend intact even after the recent pullback.
85), so the intermediate trend needs more repair work. The moving-average structure also explains why rebounds may be choppy: the 20-day SMA is below the 50-day SMA (a bearish crossover), even though the 50-day SMA is still above the 200-day SMA (a bullish longer-term backdrop). 25 during premarket trading on Tuesday, according to Pro data. Read Also: A Coalition of 25 Democratic States Sues Trump, Says His New Tariffs Are the Same Illegal Ones in Disguise: 'Trying Yet Again to Inflict…' Photo: T.
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