GLW Stock Summary and Trading Ideas (Corning | NYSE:GLW)

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 trades on the NYSE stock market under the symbol GLW.

As of May 14, 2024, GLW stock price climbed to $34.95 with 6,536,545 million shares trading.

GLW has a beta of 0.89, meaning it tends to be less sensitive to market movements. GLW has a correlation of 0.28 to the broad based SPY ETF.

GLW has a market cap of $29.89 billion. This is considered a Large Cap stock.

Last quarter Corning reported $3 billion in Revenue and $.38 earnings per share. This beat revenue expectation by $138 million and exceeded earnings estimates by $.03.

In the last 3 years, GLW stock traded as high as $44.57 and as low as $25.26.

The top ETF exchange traded funds that GLW belongs to (by Net Assets): VTI, VOO, VO, SPY, IVV.

GLW stock has underperformed the market in the last year with a return of +16.4%, while SPY returned +28.8%. This shows that you would have done better investing in the overall market (through SPY) over the last year than in GLW shares. However, GLW has outperformed the market in the last 3 month and 2 week periods, returning +12.6% and +10.0%, while SPY returned +6.2% and +2.6%, respectively. This indicates GLW has been having a stronger performance recently.

GLW support price is $33.88 and resistance is $34.69 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that GLW stock will trade within this expected range on the day.