-1.13% to $126.30 from $127.74
What moved GLW
- Corning’s third-quarter 2026 results exceeded the company’s own guidance, with GAAP sales of $4.86 billion and GAAP earnings per share of $0.78.
- Optical Communications sales rose 44% to $2.38 billion, with sales of generative-AI-related products more than doubling from a year earlier.
- Shares gained in premarket trading following the beat.
- The company’s Glass Innovations business outperformed weak television, notebook and smartphone markets, which have been hurt by memory-chip pricing.
Sources: Company earnings release · CNBC
-13.70% to $143.60 from $166.40
What moved GLW
- Shares dropped about 12%, making Corning the worst performer in the S&P 500 for the session.
- The company disclosed a $2 billion at-the-market equity distribution agreement with Goldman Sachs in a Friday regulatory filing.
- The offering’s open-ended structure — no fixed price, no set share count, timing left to management’s discretion — left investors uncertain about the scale of dilution, triggering a broad premarket sell-off.
- Corning said net proceeds would fund general corporate purposes, including capital expenditures, optical-capacity investment, debt reduction and dividends.
- The stock had risen roughly 91% so far this year on strong AI-infrastructure demand, hyperscaler deals and Nvidia-backed capacity expansion prior to the announcement.
Sources: 24/7 Wall St. · Yahoo Finance · Tradingpedia