VIAV - Corning Moves 12.0% Higher: Will This Strength Last? | Benzinga
Corning (NYSE: GLW) shares ended the last trading session 12% higher at $43.05. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 4.1% gain over the past four weeks.
The uptrend in share prices can be primarily attributable to the bullish preliminary results for the second quarter of 2024. Management currently expects second-quarter revenues to be about $3.6 billion, exceeding its earlier guidance of $3.4 billion. The improved revenue expectations are largely due to the solid adoption of the new optical connectivity products for Generative AI.
The bottom line is likely to be at the high end of its earlier ...