Corning (GLW) Climbs to All-Time High on New Meta Billion-Dollar Deal

We recently published 10 Big Names With Easy 10-30% Gains. Corning Inc. (NYSE:GLW) was one of the best performers on Tuesday.

Corning soared to a new all-time high on Tuesday after clinching a $6 billion deal with Meta Platforms Inc. for the supply of fiber optic cables for its data centers, while investors loaded positions ahead of its earnings performance.

At intra-day trading, the stock surged to its highest price of $113.99 before paring gains to finish the session just up by 15.58 percent at $109.74 apiece.

In a statement, Corning Inc. (NYSE:GLW) said that the new agreement would support its manufacturing expansion in North Carolina and generate new jobs in the state.

“This long-term partnership with Meta reflects Corning’s commitment to develop, innovate, and manufacture the critical technologies that power next generation data centers here in the US,” Corning Inc. (NYSE:GLW) Chairman and CEO Wendell Weeks said.

“The investment will expand our manufacturing footprint in North Carolina, support an increase in Corning’s employment levels in the state by 15 to 20 percent, and help sustain a highly skilled workforce of more than 5,000, including the scientists, engineers, and production teams at two of the world’s largest optical fiber and cable manufacturing facilities. Together with Meta, we’re strengthening domestic supply chains and helping ensure that advanced data centers are built using US innovation and advanced manufacturing,” he added.

Meanwhile, Corning Inc. (NYSE:GLW) is set to announce the results of its earnings performance for the fourth quarter and full-year 2025 before market open on Wednesday, January 28. A conference call will be held to discuss the results.

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Disclosure: None. This article is originally published at Insider Monkey.