Shares of Corning Incorporated (GLW) closed Thursday's trading at $28.92, up 2.15%. The stock has been trading in the range of $26.74- $35.34 over the past 52 weeks.
Corning Incorporated is a material science company specializing in specialty glass, ceramics, and technologies including advanced optics for industrial and scientific applications. For the full-year 2019, Corning expects all business segments to perform better, except optical communications.
The optical fiber maker had some notable achievements in the last few months, that could help the company achieve its long-term goals. In October, Corning Valor Glass got FDA approval to be used as packaging material for drugs. In September, Corning received 250 million investments from Apple, to whom Corning supplies precision glass for iPhone, Apple Watch, and iPad. In May 2017, Corning had received an investment of $200 million from Apple.
Recently, Chengdu CEC Panda Display Technology Co., Ltd., (CCPD), one of the leading oxide panel makers has chosen Corning Astra Glass for its line of oxide-TFT LCD panels used in high-performance, large-size TVs and monitors. Verizon and Corning are working together at Corning's optical cable manufacturing facility in Hickory, North Carolina, to co-innovate new 5G-enabled solutions.
In October, when the company reported third-quarter results, earnings of $0.44 per share beat analysts' estimate of $0.39. This compares with $0.51 in the same quarter a year ago. Net sales, however, decreased to $2.934 billion from $3.008 billion in the same quarter last year.