Ultime notizie per Corning (NYSE:GLW) Azioni

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

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.

News

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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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:
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<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>

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AAPL

AVGO

QCOM

QRVO

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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>).
Read Now:
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<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41599323/6-economic-frights-that-could-haunt-markets-this-halloween-a-tipping-point-for-risk">6 Economic Frights That Could Haunt Markets This Halloween: &#8216;A Tipping Point For Risk Appetite,&#8217; Analysts Warn</a></li>
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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.
Read Next:
<ul>
<li><a href="https://www.benzinga.com//node/41598035" target="_blank" rel="noreferrer noopener">PayPal&nbsp;Q3&nbsp;Earnings: Revenue Falls Short of Expectations, Strong Payment Volume Growth, CEO Sees&nbsp;15%-20%&nbsp;Increase In BNPL</a></li>
</ul>

Large Cap

Guidance

Professionally Managed Portfolios Otter Creek Focus Strategy ETF

OCFS

TINT

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>
Now Read This: 
<ul>
<li><a href="https://www.benzinga.com/news/24/10/41598309/wall-streets-most-accurate-analysts-give-their-take-on-3-consumer-stocks-delivering-high-dividend-yi">Wall Street&#8217;s Most Accurate Analysts Give Their Take On 3 Consumer Stocks Delivering High-Dividend Yields</a></li>
</ul>

Intraday Update

Trading Ideas

HAYW

INCY

IPGP

NARI

OPRA

RBRK

RMBS

SSTK

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
Read Next:
<ul>
<li><a href="https://www.benzinga.com/news/earnings/24/10/41485572/at-t-q3-earnings-strong-postpaid-phone-adds-adj-ebitda-growth-4-4b-impairment-charge-and-more" target="_blank" rel="noreferrer noopener">AT&amp;T Q3 Earnings: Strong Postpaid Phone Adds, Adj. EBITDA Growth, $4.4B Impairment Charge And More</a></li>
</ul>

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>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>NVDA</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>10/11/24</td>
<td>$130.00</td>
<td>$87.8K</td>
<td>51.6K</td>
<td>19.6K</td>
</tr>
<tr>
<td>AAPL</td>
<td>CALL</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>10/11/24</td>
<td>$220.00</td>
<td>$39.0K</td>
<td>4.1K</td>
<td>10.8K</td>
</tr>
<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>
<td>10.1K</td>
</tr>
<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

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10 Information Technology Stocks Whale Activity In Today's Session

Wall Street surged on Wednesday as traders cheered a pullback in oil prices and the lack of escalation in the Middle East, particularly regarding potential <a href="https://www.benzinga.com/markets/asia/24/10/41257792/oil-dips-to-73-as-china-withholds-stimulus-biden-attempts-to-contain-netanyahu-over-israels-attack-o">Israeli retaliation against Iran. </a>
The broader market gains reflected optimism ahead of Thursday&#8217;s Consumer Price Index inflation report and the start of <a href="https://www.benzinga.com/markets/24/10/41249837/s-p-500-earnings-season-kicks-off-why-analysts-call-this-quarter-a-stock-pickers-paradise">third-quarter earnings season.</a>
<h3 class="wp-block-heading">S&amp;P 500 Sets New Record</h3>
The S&amp;P 500, as tracked by the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>), climbed 0.8% to a fresh record high, closing at 5,792 points, near its intraday peak. 
Blue-chip stocks also rallied, with the SPDR Dow Jones Industrial Average ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>) ending the day at 42,512 points, up 1%, just shy of its all-time high of 42,628 reached in late September.
The tech-heavy Nasdaq 100, tracked by the Invesco QQQ Trust (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), ended 0.8% higher, closing at 20,268 points, its highest level since July 2024. 
Small caps, as represented by the iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>), inched up by 0.2%, underperforming versus large-cap counterparts. 
<h3 class="wp-block-heading">Fed Minutes Highlight Rate Cut Debate</h3>
Investors digested the minutes from the September Federal Open Market Committee (FOMC) meeting, which revealed extensive debate over whether to cut rates by 25 or 50 basis points.
Ultimately, the committee opted for the larger 50-basis-point cut, but the discussion underscored the ongoing uncertainty about the <a href="https://www.benzinga.com/markets/equities/24/10/41257938/fed-minutes-reveal-heated-debate-over-september-interest-rate-move-traders-trim-november-easing-">Federal Reserve's next moves.</a>
<h3 class="wp-block-heading">Sector Highlights: Tech Outperforms, Utilities Lags</h3>
<ul>
<li>The technology sector outperformed, rising 1.1%, while health care followed closely behind.</li>
<li>Utilities were the only sector to close in the red, down 0.9%.</li>
<li>Cruise lines were the notable industry gainers surged as lower fuel costs improved their outlook, while solar stocks and gold miners struggled under pressure from rising Treasury yields.</li>
</ul>
<h3 class="wp-block-heading">Top 5 Performers On The S&amp;P 500</h3>
<figure class="wp-block-table is-style-stripes"> 
<table>
<thead>
<tr>
<th>Name</th>
<th>Last</th>
<th>% Change</th>
</tr>
</thead>
<tbody>
<tr>
<td>Norwegian Cruise Line Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NCLH#NYSE">NCLH</a>)</td>
<td>23.06</td>
<td>10.86%</td>
</tr>
<tr>
<td>Carnival Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CCL#NYSE">CCL</a>)</td>
<td>20.20</td>
<td>7.02%</td>
</tr>
<tr>
<td>Royal Caribbean Cruises Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RCL#NYSE">RCL</a>)</td>
<td>193.01</td>
<td>5.25%</td>
</tr>
<tr>
<td>Corning Incorporated (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLW#NYSE">GLW</a>)</td>
<td>46.74</td>
<td>4.82%</td>
</tr>
<tr>
<td>Super Micro Computer, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMCI#NASDAQ">SMCI</a>)</td>
<td>47.28</td>
<td>4.26%</td>
</tr>
</tbody>
</table>
</figure>
<h3 class="wp-block-heading">Worst 5 Performers On The S&amp;P 500</h3>
<figure class="wp-block-table is-style-stripes"> 
<table>
<thead>
<tr>
<th>Name</th>
<th>Last</th>
<th>% Change</th>
</tr>
</thead>
<tbody>
<tr>
<td>Constellation Energy Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CEG#NASDAQ">CEG</a>)</td>
<td>262.24</td>
<td>-6.14%</td>
</tr>
<tr>
<td>NRG Energy, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NRG#NYSE">NRG</a>)</td>
<td>88.54</td>
<td>-5.36%</td>
</tr>
<tr>
<td>The Boeing Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>)</td>
<td>149.43</td>
<td>-3.37%</td>
</tr>
<tr>
<td>Vistra Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VST#NYSE">VST</a>)</td>
<td>124.23</td>
<td>-2.91%</td>
</tr>
<tr>
<td>Western Digital Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WDC#NASDAQ">WDC</a>)</td>
<td>64.47</td>
<td>-2.58%</td>
</tr>
</tbody>
</table>
</figure>
<h3 class="wp-block-heading">Nasdaq 100&#8217;s Top 5 Gainers</h3>
<figure class="wp-block-table is-style-stripes"> 
<table>
<thead>
<tr>
<th>Name</th>
<th>Last</th>
<th>% Change</th>
</tr>
</thead>
<tbody>
<tr>
<td>MongoDB, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MDB#NASDAQ">MDB</a>)</td>
<td>275.48</td>
<td>6.17%</td>
</tr>
<tr>
<td>Atlassian Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TEAM#NASDAQ">TEAM</a>)</td>
<td>177.06</td>
<td>5.38%</td>
</tr>
<tr>
<td>Zscaler, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZS#NASDAQ">ZS</a>)</td>
<td>185.93</td>
<td>5.09%</td>
</tr>
<tr>
<td>Super Micro Computer, Inc. </td>
<td>47.28</td>
<td>4.26%</td>
</tr>
<tr>
<td>Cadence Design Systems, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CDNS#NASDAQ">CDNS</a>)</td>
<td>279.62</td>
<td>3.50%</td>
</tr>
</tbody>
</table>
</figure>
<h3 class="wp-block-heading">Nasdaq 100&#8217;s Worst 5 Performers </h3>
<figure class="wp-block-table is-style-stripes"> 
<table>
<thead>
<tr>
<th>Name</th>
<th>Last</th>
<th>% Change</th>
</tr>
</thead>
<tbody>
<tr>
<td>Constellation Energy Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CEG#NASDAQ">CEG</a>)</td>
<td>262.24</td>
<td>-6.14%</td>
</tr>
<tr>
<td>PDD Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PDD#NASDAQ">PDD</a>)</td>
<td>141.50</td>
<td>-2.32%</td>
</tr>
<tr>
<td>Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>)</td>
<td>163.09</td>
<td>-1.57%</td>
</tr>
<tr>
<td>Tesla, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>)</td>
<td>241.06</td>
<td>-1.41%</td>
</tr>
<tr>
<td>Advanced Micro Devices, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>)</td>
<td>171.00</td>
<td>-1.04%</td>
</tr>
</tbody>
</table>
</figure>
Image created using artificial intelligence via MidJourney.

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Bulls Stampede On Wall Street: S&P 500 Smashes All-Time Highs, Dow Jones Marks Record Close, Nasdaq 100 Hits Mid-July Levels

Nokia Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/nok#NYSE">NOK</a>) is set to report its third-quarter 2024 results on Oct. 17, before the opening bell. In the last reported quarter, it reported adjusted earnings of 6 cents per share.
The company is expected to witness a revenue contraction year over year, owing to demand softness in several business segments. Intensifying competition, macroeconomic headwinds, and growing geopolitical unrest are major headwinds. However, efforts to bolster the position in the 5G ecosystem with a strong emphasis on innovation and portfolio expansion are positive.
<h2>Factors at Play</h2>
In the third quarter, Nokia secured a multi-year agreement for an undisclosed amount from AT&amp;T Inc. to help modernize the fiber infrastructure of the telecom carrier. Per the five-year deal, Nokia will deploy its Lightspan MF and Altiplano platforms to develop state-of-the-art networks to cater to the growing demand for more capacity and enhanced broadband services. Nokia has also entered into a three-year agreement with Vodafone Idea Limited to enhance and expand its 4G and 5G networks in India.
The company also inked a multi-year 5G RAN (Radio Access Network) contract with MEO, one of Portugal&#39;s leading mobile operators to upgrade its network infrastructure. These are likely to have supported Nokia&#39;s top line during the quarter.
During the quarter, Nokia inked a partnership agreement with Telekom Malaysia to enhance data center connectivity across Malaysia by deploying a cutting-edge Dense Wavelength Division Multiplexing network. A Taiwan-based broadband operator, Homeplus, deployed Nokia&#39;s state-of-the-art PON fiber solution to strengthen network visibility and improve end-user experience.
A prominent Brazilian telecommunication company, TiM Brasil, has leveraged NOK&#39;s industry-leading 5G AirScale portfolio to expand its 5G Radio Access Network coverage across Brazil. These customer wins are expected to have a positive impact on the third-quarter results.
In the quarter under review, Nokia Bell Labs, the research wing of Nokia, inked a year-long, non-binding memorandum of understanding with e&amp; to collaborate on research &amp; development efforts on artificial intelligence-based use cases across various industrial sectors.
However, a slowdown in 5G investment in several regions, including India, intensifying competition is expected to have hindered Nokia&#39;s top-line growth. Growing geopolitical instability remains a major concern.
Our estimate for revenues from the Mobile Networks vertical is pegged at &euro;1.86 billion ($2.04 billion), suggesting a 13.6% year-over-year decline. For the Network Infrastructure segment, our estimate for revenues is pegged at &euro;1.87 billion ($2.05 billion), implying 21.9% year-over-year growth. Revenues from Cloud &amp; Network Services are estimated at &euro;789.3 million ($867.4 million).
For the September Quarter, the Zacks Consensus Estimate for the company&#39;s total revenues is pegged at $5.10 billion, indicating a decrease from $5.42 billion reported in the prior-year quarter. Adjusted earnings per share are pegged at 7 cents, suggesting an increase from the prior-year quarter&#39;s tally of 5 cents.
<h2>Earnings Whispers</h2>
Our proven model does not conclusively predict an earnings beat for Nokia this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy), or 3 (Hold) increases the chances of an earnings beat. This is not the case here.
Earnings ESP: Earnings ESP, which represents the difference between the Most Accurate Estimate and the Zacks Consensus Estimate, is 0.00%, with both pegged at 7 cents.
<div class="chart_embed">
<h3>Nokia Corporation Price and EPS Surprise</h3>
<img alt="Nokia Corporation Price and EPS Surprise" src="https://staticx-tuner.zacks.com/images/charts/f5/1728479104.png" style="height:302px; width:610px" title="" />
Nokia Corporation price-eps-surprise | Nokia Corporation Quote
</div>
Zacks Rank: Nokia currently has a Zacks Rank #2.
<h2>Stocks to Consider</h2>
Here are some companies you may want to consider, as our model shows that these have the right combination of elements to post an earnings beat this season:
Corning Incorporated (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/glw#NYSE">GLW</a>) is set to release quarterly numbers on Oct. 29. It has an Earnings ESP of +1.16% and carries a Zacks Rank #3.
The Earnings ESP for T-Mobile US, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/tmus#NASDAQ">TMUS</a>) is +0.70%, and it carries a Zacks Rank of 3. The company is scheduled to report quarterly numbers on Oct. 23.
The Earnings ESP for Qorvo Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/qrvo#NASDAQ">QRVO</a>) is +0.16%, and it carries a Zacks Rank of 3. The company is scheduled to report quarterly numbers on Nov. 06.
Note: &euro;1 = $1.09893 (period average from July 1, 2024, to Sept. 30, 2024).
<a href="https://www.zacks.com/stock/news/2348377/will-nokia-s-q3-earnings-be-hurt-by-a-top-line-contraction?cid=CS-BENZ-FT-analyst_blog|earnings_preview-2348377">To read this article on Zacks.com click here.</a>

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Will Nokia's Q3 Earnings be Hurt by a Top Line Contraction?

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Corning Incorporated (GLW) Q3 2024 Earnings Call Transcript

BofA raised the firm's price target on Corning (GLW) to $56 from $51 and keeps a Buy rating on the shares. The firm notes Corning reported strong r...

Corning price target raised to $56 from $51 at BofA

Barclays raised the firm's price target on Corning (GLW) to $53 from $40 and keeps an Equal Weight rating on the shares. The firm says the company'...

Corning price target raised to $53 from $40 at Barclays

Corning Q3 2024 Earnings Review: EPS And Revenue Beat, Guidance Increased

Deutsche Bank analyst Matt Niknam raised the firm's price target on Corning (GLW) to $54 from $49 and keeps a Buy rating on the shares. The firm in...

Corning price target raised to $54 from $49 at Deutsche Bank

Meta Marshall, an analyst from Morgan Stanley, maintained the Hold rating on Corning (GLW – Research Report). The associated price target remains t...

Corning's Valuation Challenges and Non-Linear Recovery Path Lead to Hold Rating

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Axion BioSystems Continues Agreement Giving Corning® Exclusive Rights to Distribute Award-Winning Cell Counting Device

Corning Provides Update on Key Milestones in 'Springboard' Plan to Add More Than $3 Billion in Annualized Sales, and Shares Operating-Margin Target of 20% by End of 2026

Corning Unveils EXTREME ULE® Glass to Enable Next Generation of Microchips

Corning Announces Quarterly Dividend

AT&T and Corning Expand Collaboration with Multi-Year Purchase Agreement

Corning Reports Strong Third-Quarter 2024 Financial Results(1) Highlighting Key Milestones in 'Springboard' Plan to Add More Than $3 Billion in Annualized Sales, and Achieve Operating Margin of 20%, by the End of 2026

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