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Sept. 9, 2020, 7:30 a.m. EDT

Corning's stock jumps after upbeat sales outlook

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By Tomi Kilgore

Shares of Corning Inc. /zigman2/quotes/200045496/composite GLW +0.25% rallied 2.1% in premarket trading Wednesday, after the maker of glass and ceramics for use in technology equipment provided an upbeat sales outlook. The company said it expects third-quarter sales to grow by a "low-teen percentage" from the sequential second quarter, while the current FactSet sales consensus of $2.78 billion implies 7.3% sequential growth. Corning said it expects profitability growth to outpace sales growth, as a result of cost-control efforts, and said it remains on track for positive free cash flow for the year. The stock has gained 9.1% year to date through Tuesday, while the S&P 500 /zigman2/quotes/210599714/realtime SPX +0.34% has tacked on 3.1%.

/zigman2/quotes/200045496/composite
US : U.S.: NYSE
$ 35.56
+0.09 +0.25%
Volume: 2.79M
Oct. 23, 2020 4:02p
P/E Ratio
349.66
Dividend Yield
2.47%
Market Cap
$26.99 billion
Rev. per Employee
$219,223
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/zigman2/quotes/210599714/realtime
US : S&P US
3,465.39
+11.90 +0.34%
Volume: 2.16B
Oct. 23, 2020 5:15p
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