Company News - ASML's ADRs rose 5% after reporting orders significantly exceeding investor expectations, driven by increased demand for AI computing workloads [3][5][17] - Seagate's stock increased by 8% following a strong second-quarter earnings report that surpassed expectations, along with a positive outlook [3] - Texas Instruments gained 7% after providing a favorable outlook, indicating improved demand in industrial and data center markets [3] - AT&T's shares rose 3% after reporting fourth-quarter profit and revenue that exceeded analysts' estimates, attributed to strong broadband subscriber growth [3] - C3.ai's stock surged 15% amid reports of merger talks with Automation Anywhere [3] - F5 Inc. jumped 8% after raising its revenue forecast for the fiscal year [3] - New Oriental Education's ADRs rose 6% after beating second-quarter estimates and increasing its annual net revenue forecast [3] - Corning's shares fell 3% after reporting fourth-quarter results and providing a disappointing outlook [3] - Elevance Health dropped 6% after giving an adjusted profit forecast for 2026 that fell short of Wall Street expectations [3] - Qorvo's stock fell 10% after issuing a weaker-than-expected outlook [3] Industry Trends - The tech sector is experiencing a rally, driven by strong earnings from semiconductor and memory companies, which is boosting the AI trade [1][4][6] - The Magnificent Seven stocks are mostly higher, with Nvidia, Alphabet, and Amazon showing gains, while Meta and Apple experienced slight declines [3] - The semiconductor, memory, and storage sectors are seeing significant gains due to positive earnings reports, particularly from ASML, Seagate, and Texas Instruments [3][4] - Asian equities are also benefiting from the tech rally, with notable gains in TSMC and SK Hynix [5][13] - The demand for AI memory is driving earnings growth for companies like SK Hynix, indicating a strong market for AI-related technologies [5][14]

Full-Year 2025 Investor Call Corning Reports Fourth-Quarter and Full-Year 2025 Financial Results January 28, 2026 Forward-Looking and Cautionary Statements The statements contained in this presentation and related comments by management that are not historical facts or information and contain words such as "will," "believe," "anticipate," "expect," "intend," "plan," "seek," "see," "would," "target," "estimate," "forecast" or similar expressions are forward-looking statements. These forward-looking statement ...

Core Insights - The article highlights the surge in optical communication stocks driven by accelerated global AI infrastructure investments, with significant gains observed in both A-share and Hong Kong markets [1] - Corning has entered a long-term agreement with Meta to supply optical fiber cables worth up to $60 billion, marking a historic high for Corning's stock price [1][5] Group 1: Company Developments - Corning's CEO, Wendell Weeks, stated that the company is expanding its fiber optic manufacturing capacity to meet the growing demand from major tech companies like Meta, OpenAI, Google, Amazon, and Microsoft [3] - The agreement with Meta is one of Corning's largest commercial contracts and is seen as a significant move by tech giants to enhance AI infrastructure [5] - Corning's optical communications business revenue increased by 33% to $1.652 billion in Q3, driven by strong demand for generative AI products [8] Group 2: Market Trends - The demand for optical fibers is surging due to the shift from copper to fiber optics in data centers, driven by the increasing scale of GPU clusters and the need for higher data throughput [9] - The trend of "optical over copper" is becoming mainstream, as fiber optics are essential for the performance of AI computing clusters [9] - The global demand for optical fibers and cables is expected to grow significantly, with projections indicating that the market could reach several hundred million core kilometers by 2025 [10] Group 3: Industry Implications - The AI infrastructure investment trend is positively impacting the Chinese optical communication industry, benefiting companies like Yangtze Optical Fibre and Cable, Hengtong Optic-Electric, and Zhongji Xuchuang [10] - Despite previous market fluctuations, analysts believe that Corning's diversified business and technological advantages will help it navigate through potential cycles in the optical fiber market [10]

Group 1 - Corning and Meta Platforms have signed a multi-year agreement worth up to $6 billion to accelerate data centre development in the US [1] - Corning will provide optical fibre, cable, and connectivity products to support Meta's applications and AI efforts [1] - The supply arrangement will lead to an expansion of Corning's production capabilities in North Carolina, particularly at its Hickory optical cable facility, with Meta as the anchor customer [1][2] Group 2 - The contract will facilitate Meta's plans to construct data centres across the US using domestically manufactured technology [2] - Corning expects the expanded operations to boost employment in North Carolina by 15% to 20%, maintaining a workforce exceeding 5,000 [2][4] - Many of the new roles will be linked to large-scale fibre and cable manufacturing plants [2] Group 3 - Corning's chairman and CEO stated that the partnership reflects the company's commitment to develop and manufacture critical technologies for next-generation data centres in the US [3] - The investment will expand Corning's manufacturing footprint in North Carolina and support an increase in employment levels [4] - The latest generation of Corning's optical infrastructure technology is designed to meet the scale requirements of advanced data centres focused on AI [4] Group 4 - The agreement underscores both companies' ongoing investment in US-based manufacturing and technology infrastructure [5] - Meta's chief global affairs officer expressed pride in partnering with Corning for high-performance fibre optic cables needed for AI infrastructure [5] - This collaboration aims to create skilled US jobs, strengthen local economies, and secure the US lead in the global AI race [6]

Group 1 - The company forecasts first-quarter sales above estimates, indicating strong performance expectations [1] - Demand for fiberoptic products remains resilient, contributing nearly 40% to the company's total revenue [1]

Market Overview - US stock index futures showed mixed results, with Nasdaq futures up 0.84%, S&P 500 futures up 0.27%, and Dow futures down 0.03% [1] - Major European indices collectively declined, with Germany's DAX down 0.5%, UK's FTSE 100 down 0.51%, France's CAC down 1.29%, and the Euro Stoxx 50 down 0.29% [1] - Spot gold surpassed $5,300 per ounce, setting a new historical record, with a year-to-date increase of nearly 23% [1] Company Developments - Amazon announced plans to cut approximately 16,000 corporate jobs to streamline its structure amid AI competition [5] - Tesla's new car registrations in Europe last year totaled 238,656 units, reflecting a year-on-year decline of 26.9% [6] - ASML reported Q4 revenue of €9.718 billion, exceeding expectations, and announced a €12 billion stock buyback while planning to streamline its technology and IT departments [7] - Seagate Technology's Q2 revenue grew by 22% year-on-year to $2.83 billion, with adjusted earnings per share of $3.11, both surpassing expectations [8] - AT&T's Q4 revenue was $33.5 billion, with a net addition of 421,000 postpaid wireless phone users, which fell short of expectations [9] - Corning's Q4 sales reached $4.41 billion, with core earnings per share of $0.72, both exceeding expectations [10] - Texas Instruments reported a 10% year-on-year revenue increase to $4.42 billion, with earnings per share of $1.27 [11] - LVMH's revenue exceeded €80.8 billion, with a net profit decline of 13%; Q4 demand in Asia was stronger than expected [12] - Vale's iron ore and copper production reached 336 million tons and 382,000 tons, respectively, marking the highest levels since 2018 [13] Strategic Moves - Guo Minghao, an analyst at Tianfeng International Securities, indicated that Apple’s pricing strategy for the new iPhone 18 in 2H26 is to "keep prices as low as possible" [4] - But Bin revealed a $9.1 billion US stock portfolio, with Google replacing Nvidia as the top holding, while Netflix, TSMC, and Broadcom were completely sold off [3]

The glass maker posts better-than-expected earnings and revenue for the fourth quarter. ...

格隆汇1月28日｜康宁(GLW.US)四季度核心销售额为44.1亿美元，预估43.6亿美元；核心每股收益0.72 美元，预估0.7美元。预计第一季度核心销售额为42亿至43亿美元，市场预估42.5亿美元。预计第一季度 核心每股收益0.66-0.7美元，市场预估67美元。康宁美股盘前涨幅收窄至2%，此前一度涨超7%。 ...

Financial Performance - Q4 2025 core sales reached $4.41 billion, a 14% increase year-over-year, while core EPS grew 26% to $0.72[3] - Full-year 2025 core sales totaled $16.41 billion, up 13% from the previous year, with core EPS increasing 29% to $2.52[3] - Management expects Q1 2026 core sales to grow approximately 15% to a range of $4.2 billion to $4.3 billion, with core EPS projected between $0.66 and $0.70[4] - The company's full-year 2025 net income attributable to Corning Incorporated was $1,596 million, up 215.4% from $506 million in 2024[30] - Net income for Q4 2025 was $587 million, a 72.6% increase from $340 million in Q4 2024[33] - Core net income for Q4 2025 reached $624 million, up 25.6% from $497 million in Q4 2024[35] - Basic earnings per share for Q4 2025 was $0.63, compared to $0.36 in Q4 2024, reflecting a 75% increase[34] - Diluted earnings per share for Q4 2025 was $0.62, up from $0.36 in Q4 2024, marking a 72.2% increase[34] Cash Flow and Expenditures - Adjusted free cash flow nearly doubled to $1.72 billion for full-year 2025 compared to full-year 2023[3] - Net cash provided by operating activities for the year ended December 31, 2025, was $2,695 million, a 39% increase from $1,939 million in 2024[33] - Capital expenditures for Q4 2025 totaled $432 million, compared to $254 million in Q4 2024, indicating a 70% increase[33] - Capital expenditures for the year ended December 31, 2025 totaled $1,282 million, compared to $965 million in 2024, marking a 33% rise[56] Margins and Returns - Core operating margin expanded by 390 basis points to 20.2%, and core ROIC increased by 540 basis points to 14.2%[4] - Gross margin for Q4 2025 was $1,495 million, representing a 24.9% increase compared to $1,197 million in Q4 2024[30] - For the three months ended December 31, 2025, the gross margin was $1,495 million, representing a margin percentage of 35.5%[52] - The core performance measures for the same period indicated a gross margin of $1,682 million, with a margin percentage of 38.1%[52] - For the year ended December 31, 2025, the gross margin reported was $5,621 million, with a margin percentage of 36.0%[54] - The core performance measures for 2025 indicated a gross margin of $6,293 million, with a margin percentage of 38.4%[54] - Core operating income for Q4 2025 was $891 million, an increase of 24% from $717 million in Q4 2024[57] - Core return on invested capital (ROIC) improved to 14.2% in Q4 2025, compared to 12.7% in Q4 2024[57] Assets and Liabilities - Total assets increased to $30,976 million in 2025, compared to $27,735 million in 2024, reflecting a growth of 8.1%[31] - Current liabilities rose to $5,628 million in 2025, up from $4,919 million in 2024, indicating a 14.4% increase[31] - Long-term debt increased to $7,630 million in 2025 from $6,885 million in 2024, a rise of 10.8%[31] - Corning's cash and cash equivalents decreased to $1,526 million in 2025 from $1,768 million in 2024, a decline of 13.7%[31] - Total equity as of December 31, 2025 was $12,307 million, up from $11,070 million in 2024, indicating a 11.2% increase[57] Strategic Initiatives - The upgraded Springboard plan now anticipates an additional $11 billion in incremental annualized sales by the end of 2028, up from the original $8 billion target[4] - Corning entered a multiyear agreement with Meta worth up to $6 billion to develop technologies for next-generation data centers[7] - Corning emphasizes its commitment to R&D, with sustained investments aimed at developing innovative products across various markets[28] Tax and Currency Adjustments - The effective tax rate for Q4 2025 was 13.4%, compared to 18.1% for core performance measures[42] - The company reported a constant-currency adjustment of $197 million for Q4 2025, contributing positively to net sales[42] - The company plans to continue utilizing constant-currency reporting to mitigate the impact of foreign exchange fluctuations on financial results[39] - The company updated its constant-currency rates effective January 1, 2025, impacting future revenue reporting[58] - The constant-currency adjustment for Q4 2025 primarily relates to Japanese yen exposure, reflecting management's strategy to mitigate currency volatility[58] Historical Comparisons - For the year ended December 31, 2025, net sales under GAAP were $15,629 million, with a net income of $1,596 million and an effective tax rate of 15.1%[47] - The core performance measures for 2025 indicated net sales of $16,408 million, net income of $2,199 million, and an effective tax rate of 19.1%[47] - In 2024, net sales reported under GAAP were $13,118 million, with a net income of $506 million and an effective tax rate of 27.2%[49] - The core performance measures for 2024 showed net sales of $14,469 million, net income of $1,699 million, and an effective tax rate of 20.3%[49] - For the three months ended December 31, 2024, net sales reported under GAAP were $3,501 million, with a net income of $310 million and an effective tax rate of 22.2%[44] - The core performance measures for the same period showed net sales of $3,874 million, net income of $497 million, and an effective tax rate of 20.1%[44] - The company reported a loss of $14 million related to the sale of a business for the year ended December 31, 2024[59]

Core Insights - Corning Incorporated reported record results for Q4 and full-year 2025, with core sales increasing by 14% to $4.41 billion and core EPS rising by 26% to $0.72 year-over-year [1] - For the full year 2025, core sales grew by 13% to $16.41 billion, while core EPS increased by 29% to $2.52 [1] - Management anticipates continued year-over-year growth in Q1 2026 [1]