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 April 23, 2024, GLW stock price declined to $31.53 with 3,022,222 million shares trading.

GLW has a beta of 0.94, meaning it tends to be less sensitive to market movements. GLW has a correlation of 0.31 to the broad based SPY ETF.

GLW has a market cap of $26.97 billion. This is considered a Large Cap stock.

Last quarter Corning reported $3 billion in Revenue and $.39 earnings per share. This beat revenue expectation by $22 million and met earnings estimates .

In the last 3 years, GLW stock traded as high as $46.82 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 has underperformed the market in the last year with a return of -2.8%, while the SPY ETF gained +24.3%. In the last 3 month period, GLW fell short of the market, returning +3.9%, while SPY returned +4.9%. However, in the most recent 2 weeks GLW has outperformed the stock market by returning -2.1%, while SPY returned -2.5%.

GLW support price is $31.16 and resistance is $31.94 (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.