Corning (GLW) Moves 12.0% Higher: Will This Strength Last?

Group 1 - Corning's shares increased by 12% to $43.05, with a higher-than-average trading volume, compared to a 4.1% gain over the past four weeks [1] - The rise in share prices is attributed to bullish preliminary results for Q2 2024, with expected revenues of approximately $3.6 billion, surpassing previous guidance of $3.4 billion [1] - The improved revenue expectations are driven by strong adoption of new optical connectivity products for Generative AI [1] Group 2 - The anticipated earnings per share (EPS) for Corning in the upcoming report is $0.45, unchanged from the same quarter last year, with revenues expected to be $3.41 billion, a decrease of 2.1% year-over-year [2] - The consensus EPS estimate has been revised slightly higher in the last 30 days, indicating a positive trend that may lead to stock price appreciation [2] - Corning currently holds a Zacks Rank of 3 (Hold), indicating a neutral outlook [3] Group 3 - Corning is part of the Zacks Communication - Components industry, which includes Viav Solutions, whose stock increased by 2.3% to $7.22 but has seen a -4.6% return over the past month [3] - Viav Solutions has an unchanged consensus EPS estimate of $0.07 for the upcoming report, reflecting a -30% change from the previous year [3] - Viav Solutions currently has a Zacks Rank of 4 (Sell), indicating a negative outlook [3]