Corning Incorporated (GLW) has risen sharply, recording gains of 5.17% in the past 4 weeks. However, the stock has corrected -0.44% in the past 1 week, providing a good buying opportunity on dips. On a relative basis, the stock has outperformed the S&P 500 by 4.77% in the past 4 weeks, but has underperformed the S&P 500 in the past 1 week.
Corning Inc. is up 17.5% in the last 3-month period. Year-to-Date the stock performance stands at 26.32%. The stock has recorded a 20-day Moving Average of 1.64% and the 50-Day Moving Average is 6.87%.
Corning Incorporated (NYSE:GLW): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $22.71 and $22.65 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $22.90. The buying momentum continued till the end and the stock did not give up its gains. It closed at $22.77, notching a gain of 0.44% for the day. The total traded volume was 11,328,230 . The stock had closed at $22.67 on the previous day.
Also, In a research note released to the investors, UBS maintains its rating on Corning Incorporated (NYSE:GLW).The analysts at the brokerage house have a current rating of Neutral on the shares. In a recent information released to the investors, UBS raises the new price target from $19 per share to $21.5 per share. The rating by the firm was issued on July 28, 2016.
Corning Incorporated (Corning) is engaged in the manufacture of specialty glass and ceramics. The Company creates and makes keystone components that enable systems for consumer electronics, mobile emissions control, optical communications and life sciences. Corning operates in five segments: Display Technologies, which manufactures glass substrates; Optical Communications, which is engaged in providing optical solutions; Environmental Technologies, which manufactures ceramic substrates and filter products; Specialty Materials, which manufactures products that provide more than 150 material formulations for glass, glass ceramics and fluoride crystals, and Life Sciences segment, which is a developer, manufacturer and supplier of scientific laboratory products. The Company manufactures and processes products at approximately 90 plants in 17 countries.