Why Shares in Corning Soared Nearly 15% This Week
Shares in material science company Corning (NYSE: GLW) rose nearly 15% in the week to Friday morning. The move comes after a very well-received set of fourth-quarter earnings released midweek.
There's never been any doubt that Corning is a growth business. Its glass and ceramics are used across many industries and are likely to grow in 2022. From 5G networking spending to television panels, mobile phone displays, and an improving outlook for semiconductors and automotive, Corning's end markets are in growth mode. Indeed, fourth-quarter core sales grew 12%, and full-year sales increased 23%. Moreover, management's guidance for 2022 calls for a 6.5% increase in sales to $15 billion.
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Source Fool.com
