Corning (GLW) Jumps 18.3%, Hits All-Time High on Stellar Earnings, New Billion-Dollar Deal

Group 1 - Corning Incorporated (NYSE:GLW) experienced an 18.3% increase in share prices week-on-week, reaching an all-time high due to strong earnings and a new partnership with Meta Platforms Inc [1] - The company reported a net income of $1.596 billion for 2024, up from $506 million, and net sales increased by 19% to $15.6 billion from $13.1 billion year-on-year [2] - In Q4, net income rose by 26% to $540 million from $310 million, while net sales grew by 3% to $4.2 billion from $3.5 billion [2] Group 2 - Corning raised its net sales growth outlook through 2028 to $11 billion in incremental annualized sales, up from a previous guidance of $8 billion [3] - For the current year, the target for incremental annualized sales is now $6.5 billion, an increase from the earlier outlook of $6 billion [3] - The company’s growth strategy is part of the "Springboard plan," aimed at driving growth from 2023 to 2028 [3] Group 3 - Corning secured a $6 billion partnership with Meta for the supply of fiber optic cables for data centers, which is expected to create 15 to 20 percent of new jobs [4]