SupplyAgreement News & Analysis

Corning (GLW) Stock Gains 18% After Verizon's Multi-Billion Deal

Corning Incorporated (NYSE: GLW) stock has risen by 18% over the past week, with a 2.4% increase on Wednesday alone. This surge is driven by a multi-year supply agreement with Verizon (NYSE: VZ) for over 80 million miles of fiber-optic cable, potentially valued at over $420 billion. The contract is set to run from 2027 to 2032, which may significantly boost Corning's revenue, currently at $20 billion annually. Investors should consider the implications of this large contract on Corning's future earnings and stock value.